STANLEY, Va., Nov. 7, 2016 /PRNewswire/ -- Pioneer Bankshares, Inc., (OTC Bulletin Board: PNBI) parent company of Pioneer Bank, reported unaudited consolidated net income for the nine month period ending September 30, 2016 of $1.344 million or $1.39 per share as compared to $1.498 million or $1.56 per share for the same period last year. The Company's earnings through September 30, 2016 show a decrease of $154,000 as compared to the same period in 2015. This change is primarily attributed to increased interest expense on deposits and borrowings, additional provision for loan loss expense for the current year as compared to the prior year, and certain non-recurring income items that were booked in the prior year. The Company's subsidiary, Pioneer Bank, had net loan growth of $9.8 million or 6.57% during the nine month period ending September 30, 2016, and a total of $11.00 million in loan growth since September 30, 2015. The total loan portfolio as of September 30, 2016 was $159.5 million. The bank has also seen an increase in deposit balances during the nine month period ending September 30, 2016, resulting in total deposit growth of $10.7 million or 7.16%. The deposit increase as compared to September 30, 2015 reflects a total increase of $14.8 million bringing total deposit balances as of September 30, 2016 to $159.8 million. The Company's consolidated total assets as of September 30, 2016 were $196.3 million compared to $179.5 million as of September 30, 2015 and $182.5 million as of December 31, 2015.