Pioneer Bancorp Acquires Targeted Lending Co., LLC to Launch Specialty Financing Division
April 24, 2026
Pioneer (NASDAQ: PBFS) acquired 100% of the membership interests in Targeted Lending Co., LLC, an independent equipment financing company with about $120 million of loans on its balance sheet. The all-cash deal (about $140 million enterprise value, subject to earn-out adjustments) closed on April 24, 2026, and Targeted Lending will operate as Pioneer’s newly formed Specialty Financing division.
- Buyers
- Pioneer Bancorp, Inc.
- Targets
- Targeted Lending Co., LLC
- Industry
- Financial Services
- Location
- United States
- Transaction Type
- Buyout
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