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Pioneer Bancorp acquires Targeted Lending for $140 million cash

PUBT·04/24/2026 20:41:15
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Pioneer Bancorp acquires Targeted Lending for $140 million cash
  • Pioneer acquired 100% of membership interests in Targeted Lending, an equipment finance company with about $120 million of loans on its balance sheet.
  • Transaction was all-cash, valued at about $140 million in enterprise value, subject to potential performance-based earn-out adjustments over three years.
  • Deal closed April 24, 2026.
  • Targeted Lending will operate as Pioneer Specialty Financing, expanding commercial lending into nationwide equipment finance markets.
  • Brian Gallo will lead division from Williamsville, New York.


Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pioneer Bancorp Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20260424202017) on April 24, 2026, and is solely responsible for the information contained therein.