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Albany, NY-based Pioneer Bancorp receives noncompliance notice from Nasdaq

Pioneer Bancorp Inc. (MHC) received a delinquency notification letter from the Nasdaq Stock Market LLC on Oct. 16 indicating that the Albany, N.Y.-based company is not in compliance with a Nasdaq listing rule for failing to file its annual report on Form 10-K for the fiscal year ended June 30 on time.

The company previously said that the filing would be delayed due to potentially fraudulent activity discovered during the company's first fiscal quarter of 2020, or the quarter ending Sept. 30.

The company's management intends to file the Form 10-K as soon as practicable.

The notification letter has no immediate effect on the listing or trading of Pioneer Bancorp's common stock on the Nasdaq Capital Market.