Psb Holdings Stock Price, News & Analysis

PSB Holdings, Inc. (OTCQX: PSBQ) reported first quarter earnings of $0.67 per share, with net income of $2.9 million, down from $0.80 per share and $3.5 million in the prior quarter. Year-over-year, earnings also decreased from $0.75 per share on $3.3 million net income. Key factors included a decrease in net interest income to $9.9 million, attributed to rising deposit costs. However, annualized loan growth was 4.7%, and non-interest income rose to $2.0 million. The bank's return on shareholders' equity stood at 12.5%. Non-performing assets improved, decreasing to 0.45% of total assets. Despite a 3.6% decline in total deposits, management noted this was not primarily due to concerns over bank failures but seasonal and operational factors.

PSB Holdings, Inc. (OTCQX: PSBQ) reported steady fourth-quarter earnings for 2022, maintaining an EPS of $0.80 and net income of $3.5 million, consistent with the previous quarter and a notable increase from $0.71 per share year-over-year. For the fiscal year, earnings rose to a record level of $3.07 per share. Key highlights include a 2.7% growth in loans, increased net interest income to $10.6 million, and improved asset quality with non-performing assets dropping to 0.48%. The company increased capital and liquidity to support future growth despite anticipated challenges due to inflation. PSB also initiated a share repurchase program, buying back 55,113 shares by quarter-end.

PSB Holdings, Inc. (OTCQX: PSBQ) announced a semi-annual cash dividend of $0.25 per share, reflecting an 8.70% increase over last year’s dividend of $0.23. This dividend will be payable on January 30, 2023, to shareholders recorded by January 6, 2023. This marks the continuation of a 58-year dividend tradition, with 29 consecutive years of increased payouts. CEO Scott M. Cattanach emphasized the importance of dividends in enhancing shareholder value while also investing in long-term growth and maintaining strong capital and asset quality.

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.

PSB Holdings, Inc. (OTCQX: PSBQ) has successfully raised $7.2 million in preferred stock and $4.8 million in subordinated debt securities, aimed at enhancing its capital position. The preferred stock offers a 6.75% fixed dividend for the first five years, transitioning to a floating rate thereafter. The subordinated debt features a 4.75% interest rate for five years, with interest-only payments. PSB's President and CEO Scott Cattanach highlighted the company's consistent profitability and 29 years of increased dividends to common shareholders, signaling confidence in future growth opportunities.