OFFICIAL PUBLICATION OF THE MONTANA INDEPENDENT BANKERS ASSOCIATION

October 2025

Pioneer Federal Savings and Loan Association Adopts Plan of Conversion

Pioneer Federal Savings and Loan Association, a savings association headquartered in Deer Lodge, announced that its board of directors has adopted a plan to convert Pioneer Federal Savings and Loan Association by way of merger to a stock institution to be known as Pioneer State Bank. In accordance with the Plan of Conversion, subject to depositor member approval and the other conditions described in the following, Pioneer State Bank will be a wholly-owned subsidiary of a stock holding company, PSB Financial Inc., and the common stock of the holding company will be offered to deposit customers of the association and others, which could include members of the general public, in the manner and subject to the priorities set forth in the Plan of Conversion.

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Portfolio Management: The Rule of Three
Bond Portfolio Yields Are at Multiyear Highs

Being most decidedly not a professional journalist, I’m all for using tricks and devices to develop themes in my columns. This month, I’m relying on the “rule of three,” a literary technique that suggests that topics with three identifiable components can produce clarity or improve the effectiveness of the piece. Personally, I’m a fan of “hook, line and sinker,” “of the people, by the people, for the people” and the ever-popular Larry, Curly and Moe.

Portfolio Management: The Rule of Three

Bond Portfolio Yields Are at Multiyear Highs
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Compliance Q&A

BSA. Q: We filed a Suspicious Activity Report (SAR) on a customer one day. Afterward, I discovered some account activity that was not included in our report (additional transactions that would increase the amount involved that would have been included in the narrative as well). Is there an option to amend the SAR, or do we wait until filing a 90-day ongoing activity SAR?

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Flourish: Battling the Many Faces of Fraud, Together

When it comes to fraud, we are being hit on all fronts with scams that range from the very basic to the most sophisticated. We’re at a unique point in time where a bank needs both the technological tools to thwart AI-generated digital attacks and the knowledge to combat traditional check washing and forgery schemes.

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