Albany, N.Y.-based Pioneer Bank (MHC), a unit of Pioneer Bancorp MHC, entered into a definitive agreement to acquire Clifton Park, N.Y.-based Jaeger & Flynn Associates Inc.

Financial terms of the deal were not disclosed.

Jaeger & Flynn, Anchor Agency Inc. and Pioneer Benefits Consulting will retain their individual identities, continuing to operate from their existing office locations.

Jaeger & Flynn President and CEO Thomas Flynn will become president of insurance for the combined operations, while Kurt Jaeger, executive vice president and chief marketing officer, will remain in his leadership role at Jaeger & Flynn. Cristina Tronco and Kathy Boltz will continue in their leadership roles at Pioneer Benefits Consulting and the Anchor Agency, respectively.