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ClosedPublished 28 Apr 2026

Pioneer /
Targeted Lending Co., LLC

Pioneer Bank buys Targeted Lending Co., LLC in all-cash deal

Buy side: Pioneer
Buy sidePioneer
Target: Targeted Lending Co., LLC
TargetTargeted Lending Co., LLC
Pioneer Bancorp, Inc. · 28 Apr 2026Source
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Buy side: Pioneer
Buy sidePioneer
Target: Targeted Lending Co., LLC
TargetTargeted Lending Co., LLC
01 / BuyerPioneer
02 / TargetTargeted Lending Co., LLC
Source for the buyer and target: Pioneer Bancorp, Inc.

For the buyer and target.

“Albany, NY – Pioneer (NASDAQ: PBFS) , a leading financial institution in New York’s Capital Region, today announced it has acquired 100% of the membership interests in Targeted Lending Co., LLC, (“Targeted Lending”), an independent equipment financing company with approximately $120 million of loans on its balance sheet.”

Published 28 Apr 2026

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01

What happened

Pioneer Bank, National Association completed its purchase of all the membership interests of Targeted Lending Co., LLC on April 24, 2026. It made the purchase through its wholly owned subsidiary, Targeted Lending Holdings, LLC. Signing and closing took place at the same time. [01]

The all-cash transaction is valued at approximately $140 million in enterprise value. The base purchase price is about $54 million and is subject to a post-closing adjustment. Pioneer also repaid about $88 million of Targeted Lending's credit facility debt. Certain key employees can earn up to $3,000,000 in earn-out payments over three annual installments, tied to net income thresholds. [01]

02

The source

Everything on this page comes from the source below, quoted word for word.

01
Source · Pioneer Bancorp, Inc.

Pioneer Bank buys Targeted Lending Co., LLC in all-cash deal

This document is the source for the companies, stage, figure and people on this page.

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03

Timeline

Every date the source states, in order, each with the words it comes from. Anything marked ahead is a target the source gives, not something that has happened.

  1. Closed

    “Pioneer Bank buys Targeted Lending Co., LLC in all-cash deal Pioneer Bank, National Association completed its purchase of all the membership interests of Targeted Lending Co., LLC on April 24, 2026”

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  2. Published by Pioneer Bancorp, Inc.

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