Pioneer, a financial institution in New York’s capital region, acquired 100% of the membership interests in Targeted Lending, an independent equipment financing company with approximately $120 million of loans on its balance sheet. Targeted Lending, as a wholly owned subsidiary of Pioneer, will operate as Pioneer’s newly-formed specialty financing division, expanding Pioneer’s commercial lending capabilities and extending its reach into nationwide equipment finance markets. “Targeted Lending represents a compelling strategic fit for Pioneer and advances our ‘more than a bank’ strategy by diversifying our income...