Pioneer Bancshares, Inc. is seeking acquisition opportunities. Pioneer Bancshares announced today the closing of a $12 million private placement offering in which Pioneer Bancshares sold approximately 0.67 million shares of its common stock at a price of $18 per share. Pioneer Bancshares intends to use the net proceeds from this offering for general corporate purposes, which may include funding organic loan growth as well as acquisition opportunities that may arise in the future.