Welcome to our dedicated page for Psb Holdings news (Ticker: PSBQ), a resource for investors and traders seeking the latest updates and insights on Psb Holdings stock.
PSB Holdings, Inc. reports recurring developments as the holding company for Peoples State Bank, a community bank serving Northcentral and Southeastern Wisconsin. Company news centers on quarterly earnings, net interest margin trends, loan and deposit activity, credit quality, investment securities, mortgage banking income, and tangible book value.
Updates also cover common-stock dividend declarations, changes in dividend cadence, capital strength, wealth management and insurance-related revenue, and selected credit administration or portfolio developments tied to the bank's commercial and community banking operations.
PSB Holdings, Inc. (OTCQX: PSBQ) reported strong first quarter earnings for the period ending March 31, 2021, with net income of $3.9 million, or $0.87 per share, exceeding last quarter's figures. Increased net interest income, driven by SBA Paycheck Protection Program fee accretion, and lower noninterest expenses contributed to this growth. The bank's net interest margin rose to 3.62%, up from 3.22%. Despite challenges, including increased loan loss provisions and a decline in noninterest income, management anticipates continued growth following its recent acquisition of Waukesha Bankshares.
PSB Holdings completed its merger with Waukesha Bankshares, enhancing its presence in the greater Milwaukee area. As of March 31, 2021, PSB Holdings boasted $1.13 billion in assets and nine branches across Wisconsin. The transaction involved financial advice from Raymond James & Associates, with legal support from Boardman & Clark LLP and Godfrey & Kahn, S.C. The merger aims to drive growth and expand financial services, benefiting both business owners and individuals in the region.
PSB Holdings, Inc. (OTCQX: PSBQ) has secured necessary shareholder and regulatory approvals for its merger with Waukesha Bankshares, Inc. The closing is expected on April 16, 2021, with a data system conversion planned for Q2 2021. As of December 31, 2020, PSB Holdings reported $1.13 billion in assets, while Waukesha Bankshares had approximately $140 million. This merger aims to enhance PSB's presence in southeastern Wisconsin. Raymond James acted as financial advisor for the transaction.