STANLEY, Va., May 4, 2012 /PRNewswire/ -- Pioneer
Bankshares, Inc., (OTC Bulletin Board: PNBI) parent company of
Pioneer Bank, reported net earnings of $592,000 for the first quarter of 2012, as
compared to $291,000 for the first
quarter of 2011. Total earnings per share for the quarter
ended March 31, 2012 were
$0.57 compared to $0.28 for the first quarter of 2011, which
represents an increase of 103.57%.
The Company had asset growth of approximately $5.3 million and deposit growth of $5.8 million during the first quarter of
2012. The Company's capital position as of March 31, 2012 was approximately $21.0 million, or 12.17% as a percentage of total
assets.
Pioneer Bankshares, Inc. is a one-bank holding company
headquartered in Page County,
Virginia. It owns and operates Pioneer Bank with six banking
locations. The Company's main branch and corporate office is
located in Stanley, Virginia, with
other branch locations in Shenandoah, Luray, Harrisonburg, Stanardsville, and Charlottesville,
Virginia.
SOURCE Pioneer Bankshares, Inc.