PSB Holdings, Inc. Announces 5% Stock Repurchase Program

Rhea-AI Summary

PSB Holdings, Inc. (OTCQX: PSBQ) announced a share repurchase program targeting up to 5% of its outstanding shares. The company plans to repurchase shares through open market transactions or block trades, depending on factors such as market conditions and financial performance. PSB emphasizes that share repurchases are a critical tool for reallocating capital and expresses confidence in its robust capital position to support shareholder investments.

Positive

• Implementation of a share repurchase program for up to 5% of outstanding shares, potentially enhancing shareholder value.
• Strong capital position enables effective stock purchasing, reflecting management's confidence in future performance.

Negative

• None.

WAUSAU, Wis., Dec. 19, 2022 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (“PSB”) (OTCQX: PSBQ), the holding company for Peoples State Bank (“Peoples”) serving Northcentral and Southeastern Wisconsin announced that it has adopted a program to repurchase up to 5% of outstanding shares of its common stock. Shares may be repurchased in open market or private transactions or through block trades.

The timing and amount of any repurchases will depend on a number of factors, including the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance. Open market purchases will be made in accordance with Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.

Scott Cattanach, President and CEO of the Company, remarked that, “Share repurchases are an important tool that businesses have to reallocate capital. The Company is pleased to have a strong capital position giving it the ability to purchase stock and support our shareholder’s investment.”

About PSB Holdings, Inc.

PSB Holdings, Inc. is the parent company of Peoples State Bank. Peoples is a community bank headquartered in Wausau, Wisconsin, serving northcentral and southeastern Wisconsin from ten full-service banking locations in Marathon, Oneida, Vilas, Milwaukee and Waukesha counties and a loan production office in Stevens Point, Wisconsin. Peoples also provides investment and insurance products, along with retirement planning services, through Peoples Wealth Management, a division of Peoples. PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTCQX Market. More information about PSB, its management, and its financial performance may be found at www.psbholdingsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current expectations, estimates and projections about PSB’s business based, in part, on assumptions made by management and include, without limitation, statements with respect to the potential growth of PSB, its future profits, expected stock repurchase levels, future dividend rates, future interest rates, and the adequacy of its capital position. Forward-looking statements can be affected by known and unknown risks, uncertainties, and other factors, including, but not limited to, strength of the economy, the effects of government policies, including interest rate policies, risks associated with the execution of PSB’s vision and growth strategy, including with respect to current and future M&A activity, and risks associated with global economic instability relating to the COVID-19 pandemic and its effect on PSB and Peoples, and their customers, and other risks. The forward-looking statements in this press release speak only as of the date on which they are made and PSB does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

Investor Relations Contact
PSB Holdings, Inc.
1905 Stewart Avenue
Wausau, WI 54401
888.929.9902
InvestorRelations@bankpeoples.com

FAQ

What is the PSBQ share repurchase program details?

PSB Holdings plans to repurchase up to 5% of its outstanding shares, subject to market conditions and financial performance.

How will the share repurchases impact PSB Holdings stock price?

Repurchases can potentially enhance stock price by reducing the number of shares outstanding, thereby increasing earnings per share.

What factors will influence the timing of the share buyback for PSBQ?

Factors include stock availability, market conditions, trading price, alternative capital uses, and the company's financial performance.

Is PSB Holdings obligated to buy back a specific number of shares?

No, PSB Holdings is not obligated to repurchase any particular number of shares or within a specific time frame.