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Pioneer Bankshares, Inc. Declares Dividend

STANLEY, Va., Feb. 28, 2013 /PRNewswire/ -- The Board of Directors of Pioneer Bankshares, Inc. (OTC Bulletin Board: PNBI) declared a 1^st quarter dividend at its February 14, 2013 meeting. The dividend payment declared will be paid at $0.16 per share for shareholders of record as of March 7, 2013 and will be payable on March 28, 2013. This dividend payment represents a 6.67% increase when compared to the 1^st quarter dividend payment for the prior year.

Pioneer Bankshares, Inc. is a one bank holding company with six existing banking locations in Virginia. The corporate office and main branch is located in Stanley, with other branch offices currently located in Shenandoah, Luray, Harrisonburg, Stanardsville and Charlottesville, all in Virginia. Additionally, the bank is in the process of establishing a new branch location in Ruckersville, Virginia, with a target opening date of March 4, 2013. The Bank also operates a small consumer loan finance company known as Valley Finance Services, a Division of Pioneer Bank.