Pioneer Bancorp, the holding company for Pioneer...

Pioneer Bancorp, the holding company for Pioneer Bank in Fullerton, posted record net income of $404,000 in the first quarter, more than double the $193,000 it earned in last year’s first quarter. Total quarterly income rose 36% to $3 million at the end of March from $2.2 million a year earlier. Because of several unexpectedly large business deposits made shortly before the end of the quarter but withdrawn a few days after the quarter ended, the company’s assets jumped 34% to $126.8 million at the end of the quarter from $94.8 million in assets a year earlier. Average assets for the month of March were $115 million. The bank’s total deposits rose 34% to $118.6 million at the end of the quarter from $88.3 million a year earlier, while its loan portfolio rose 35% to $89.7 million this year from $66.3 million last year.