Based on your photos we do not have enough information to diagnose the problem with your pine. When trees are subject to drought, soil compaction, too much moisture, poor drainage, planting too deeply, etc. they are susceptible to insect and disease problems. We do see some holes in the trunk but can not say if it is due to sapsucker damage or possible boring insects. At this point, the possible borer is a secondary issue. Borers affect the vascular system of the tree and it is usually just a matter of time before they decline. Dead or dying trees should be removed. For an onsite diagnosis regarding the health of the tree, contact several certified arborists for the best way to proceed .http://www.treesaregood.org/
See our pine publication for more information http://extension.umd.edu/sites/default/files/_images/programs/hgic/Publications/HG54_IPM_Series_Pine...