Annual Report
ANNUAL REPORT TO THE MEMBERS OF PIONEER FEDERAL SAVINGS AND LOAN ASSOCIATION
March 17, 2026
Pioneer Federal Mission Statement: Pioneer Federal Savings and Loan Association is dedicated to providing quality services and products to its customers all the while remaining financially strong and adding value to the quality of life to the communities it serves. Pioneer Federal is known for commitment to our communities and our desire to help our communities grow and prosper.
2025 saw Pioneer Federal Savings and Loan basically maintain a flat level of growth:
12.31.25 Assets: $120,027,000 Deposits: $97,672,000 Loans: $92,711,000
12.31.24- Assets: $112,268,000 Deposits: $85,258,000 Loans: $87,557,000
he “core” Non-Maturing Deposits- Savings, Money Market, Checking and Business Checking accounts increased over 11% from 2024 to 2025-year end. The bulk of Pioneer’s deposits continue to be the non-Maturing deposits comprising $58,335,000 of the $92,672,000 on deposit; Certificates of Deposit make up $28,462,000 and IRAs $5,876,000. Depositors at Pioneer Federal Savings and Loan earned almost $1,800,000 in interest in 2025. At year end 2025 we had 5,593 deposit accounts across our variety of deposit products.
The Association new loans two-year comparison:
| Association Loan Comparisons | 2025 | 2024 | 2023 |
|---|---|---|---|
| Assoc New Loans Total | 141 Loans | 125 Loans | 113 Loans |
| New Loans Total Volume | $20,400,000.00 | $16,130,000.00 | $15,590,000.00 |
| Average Loan Size | $146,000.00 | $129,100.00 | $138,000.00 |
| Dillon Total Loans | 68 Loans | 59 Loans | 62 Loans |
| Dillon Total Loan Volume | $14,720,000.00 | $9,500,000.00 | $11,513,000.00 |
| Dillon Average Loan Size | $220,000.00 | $161,000.00 | $185,700.00 |
| Deer Lodge Total Loans | 73 Loans | 66 Loans | 51 Loans |
| Deer Lodge Total Loan Volume | $5,680,000.00 | $6,630,000.00 | $4,070,000.00 |
| Deer Lodge Average Loan Size | $78,000.00 | $100,500.00 | $79,800.00 |
The 2025 new loans included:
59 Residential Real Estate Loans
69 Consumer Loans
7 Non-Residential RE Loans
6 Commercial Loans
The Association had 727 loans on the books as of year-end 2025.
Pioneer Federal Savings and Loan Association’s capital position remains one of the strongest in MT. Our capital level of $18,580,000 is 15.48% of assets and far exceeds the requirements of federal guidelines as of December 31, 2025.
The Association’s cost of funds at year end was 2.0%. The cost of funds throughout 2026 will continue to be a real challenge as consumers look to capture optimum interest rates on deposits as well as keeping consumer deposit accounts will be very challenging. Asset quality continues to remain high with very few loan delinquencies and an investment portfolio consisting of highly rated investments. At year-end 2025, the Association had no Other Real Estate Owned (OREO) or foreclosed property on our books.
Pioneer Federal has been involved in quality loan participations with other MT financial institutions. These participations make up approximately 3.8% of our total loan balances and allow the Association to diversify our loan portfolio. Management continues to monitor the loan portfolio for weaknesses, and the Association maintains a healthy provision for loan losses for any potential exposure we might have with respect to economic downturns or problem loans.
Pioneer Federal Savings and Loan Association and the Pioneer Federal Community Foundation, Inc. continue to financially support worthy projects and organizations located primarily in
Powell and Beaverhead counties. In addition to supporting many local area events and organizations, during 2025 we continued to fund, and payoff, previous financial commitments made in both locations. In the past 10 years alone, Pioneer Federal Savings and Loan and its Foundation have made cash contributions of well over $1,000,000 to our local communities.
Personnel continue to work closely with bank regulators and independent auditors. The Association did have a Safety and Soundness exam in March 2025 by the FDIC, and the results
were favorable and clean. Internal audits performed all resulted in favorable reports once again as the Association continues to maintain strong audit functions, keeping us a very strong
institution.
To our many customers, I would like to personally thank you for your relationship and your trust in Pioneer Federal- you are truly our most valued asset.
I would like to express sincere appreciation to our staff, the officers and our Board of Directors for their continued effort and support on behalf of the Association. Please let me know any questions you may have about Pioneer Federal Savings and Loan Association.
Phillip K Willett
President/CEO
March 17, 2026
