PSB HOLDINGS INC (WI) - PSBQ STOCK NEWS

Peoples State Bank appointed Jessica Brown as Senior Vice President and CFO, effective June 15, 2022. With over 25 years in the banking sector, Brown previously served as CFO for a $5 billion credit union. She aims to enhance the bank's profitability and financial reporting while managing capital funding and balance sheet aspects. Brown’s experience includes leadership roles in both large banks and community banks, emphasizing operational efficiency and growth. She will also serve as CFO and Secretary of PSB Holdings, the bank's parent company, which trades under the stock symbol PSBQ.

PSB Holdings, Inc. (OTCQX: PSBQ) reported first quarter 2022 earnings of $0.75 per share, with net income at $3.3 million, up from $3.1 million in the previous quarter but down from $3.9 million year-over-year. Key highlights include a rise in net interest income to $9.6 million and a drop in noninterest income to $2.0 million, largely due to reduced gains on mortgage loan sales. The bank's tangible book value decreased to $21.82 per share due to unrealized losses. Total assets fell to $1.27 billion, and total deposits decreased by $15.8 million.

PSB Holdings, Inc. (OTCQX: PSBQ) reported a record net income of $12.8 million or $2.88 per share for 2021, up from $10.7 million or $2.40 per share in 2020. Q4 earnings were $0.71 per share, slightly down from $0.82 in Q3. Key drivers included growth in earning assets and lower loan loss provisions, despite lower net interest income due to reduced loan yields and increased operating expenses. Nonperforming assets decreased to 1.06% of total assets. Total deposits rose by $22.2 million to $1.11 billion. The company anticipates benefiting from rising short-term interest rates.

PSB Holdings, Inc. (OTCQX: PSBQ) declared a semi-annual cash dividend of $0.23 per share on December 21, 2021, payable on January 28, 2022, to shareholders of record as of January 7, 2022. This represents a 9.5% increase from last year's $0.21 dividend. The company reported a 17% asset growth and a 26% increase in earnings over the past year, indicating a robust financial position. PSB continues a 57-year tradition of paying cash dividends, with 28 consecutive years of increases.

PSB Holdings, Inc. (OTCQX: PSBQ), the parent company of Peoples State Bank, announced the resignation of CFO Mark Oldenberg, who is taking a CEO position at a community bank in Wisconsin. Oldenberg served as CFO for four years, during which total assets increased by approximately $450 million (53%), including the acquisition of Waukesha Bankshares. PSB is searching for a new CFO, while Scott M. Cattanach, the CEO, will oversee accounting duties in the interim. The company has total assets of $1.3 billion and operates ten banking locations in Wisconsin.

PSB Holdings, Inc. (OTCQX: PSBQ) reported third quarter earnings of $0.82 per share, up from $0.48 in the previous quarter. Net income reached $3.6 million, reflecting strong loan demand, particularly in commercial real estate. However, net interest margin declined to 3.15% from 3.48%. Despite these challenges, total assets grew to $1.30 billion, driven by increased securities and deposit growth of $51.4 million. The tangible equity ratio remained strong at 8.27%, and the bank did not add provisions for loan losses, indicating a positive outlook amidst rising loan modifications related to COVID-19.

PSB Holdings, Inc. (PSBQ) announced second quarter 2021 earnings of $0.48 per share with net income of $2.1 million, down from $0.87 per share and $3.9 million in the previous quarter. The decrease was influenced by $2.7 million in merger-related expenses. Adjusted earnings reached $0.93 per share sans these expenses. The net interest margin fell to 3.48% due to reduced PPP loan income. Total assets rose to $1.25 billion, driven by the Waukesha Bankshares acquisition. Non-performing assets saw a slight decline, reflecting ongoing stability in asset quality.

PSB Holdings, Inc. (OTCQX: PSBQ) announced a semi-annual cash dividend of $0.23 per share, reflecting a 9.5% increase from last year’s dividend of $0.21. The dividend, payable on July 30, 2021, is for shareholders of record by July 9, 2021, continuing a 57-year tradition of cash dividends, with 28 consecutive years of increases. CEO Scott M. Cattanach highlighted the company's resilience during the pandemic, supported by a robust mortgage refinancing market and participation in the SBA PPP program, reaffirming their strong financial position.

PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, announced participation in virtual investor meetings on May 5-6, 2021, hosted by DA Davidson. Key executives, including Scott Cattanach (CEO), Mark Oldenberg (CFO), and Pat Heier (SVP of Commercial Lending), will discuss the company’s performance and strategy. Discussion materials will be available on the company's website by May 5, 2021. Peoples State Bank operates ten full-service locations across Northcentral and Southeastern Wisconsin and offers a range of financial services.