WAUSAU, Wis., April 27, 2026 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (“PSB”) (OTCQX: PSBQ), the holding company for Peoples State Bank (“Peoples”) serving Northcentral and Southeastern Wisconsin reported earnings for the first quarter ending March 31, 2026 of $0.82 per diluted common share on net income of $3.3 million, compared to $0.97 per diluted common share on net income of $3.9 million during the fourth quarter ending December 31, 2025, and $0.60 per diluted common share on net income of $2.4 million during the first quarter ending March 31, 2025.
PSB’s first quarter of 2026 operating results reflected the following changes from the fourth quarter of 2025: (1) a stronger net interest margin as loans and securities yields increased; (2) higher non-interest income from gains on the sale of SBA loans and receipt of life insurance benefits partially offset by losses on the sale of securities; and (3) higher non-interest expenses due to higher salary and employee benefits due in part to higher incentive accruals and a true-up of historical FDIC insurance premiums.
“Net interest margin expansion has continued to support strong profitability while enabling the Bank to continue to pursue strategic initiatives to ensure enhancement of shareholder value. Additionally, during the first quarter, we received life insurance benefits enabling us the opportunity to restructure a part of the investment portfolio. Delayed sales of SBA loans due to the government shutdown in the fourth quarter of 2025 were sold in the first quarter which boosted gains in the current quarter,” stated Scott Cattanach, President and CEO. “Additionally, we are pleased to share that Rhonda Norrbom has joined Peoples as executive vice president and chief credit officer. Rhonda will oversee credit risk management and the commercial credit administration team, ensuring continued alignment with the Bank’s commitment to sound lending practices that support community growth.”
March 31, 2026, Highlights:
- Net interest income increased $155,000 to $11.9 million for the quarter ended March 31, 2026, from $11.7 million for the quarter ended December 31, 2025, due in part to higher loan balances with higher yields, repricing of existing loans to higher rates and higher securities yields after some security restructuring.
- Noninterest income increased $239,000 to $2.3 million for the quarter ended March 31, 2026, compared to $2.1 million the prior quarter due to the receipt of life insurance benefits and gains on the sale of SBA loans, partially offset by losses on security sales.
- Noninterest expenses increased $1.2 million to $9.8 million during the quarter ended March 31, 2026 from $8.6 million for the quarter ended December 31, 2025, reflecting higher salary and benefit plan expenses related to higher incentive accruals for fiscal 2026. Additionally, a non-recurring true-up for historical FDIC insurance premiums and one-time legal and professional expenses were realized in the first quarter ended March 31, 2026.
- Net loans increased $20.5 million in the first quarter ended March 31, 2026, to $1.12 billion compared to December 31, 2025. The loan pipeline continues to remain strong. Allowance for credit losses increased to 1.16% of gross loans.
- Non-performing assets decreased to $16.3 million, or 1.09% of total assets at March 31, 2026, compared to $17.3 million, or 1.18% the previous quarter. The decrease primarily relates to the partial paydown of a non-owner occupied rental property.
- Total deposits increased $10.0 million to $1.19 billion at March 31, 2026, from $1.18 billion at December 31, 2025. Core deposits increased $18.5 million while brokered deposits declined $8.3 million.
- Return on average tangible common equity was 10.90% for the quarter ended March 31, 2026 compared to 12.86% the prior quarter and 9.21% in the year ago quarter. Tangible book value per common share was up 13.40% over the past year to $30.55 at March 31, 2026, compared to $26.94 at March 31, 2025 and $29.99 at December 31, 2025.
- PSB paid a semi-annual dividend of $0.34 per share on January 30, 2026. Additionally, PSB announced a regular quarterly cash dividend of $0.18 per share, payable April 30, 2026 to shareholders of record on April 10, 2026.
Balance Sheet and Asset Quality Review
Total assets increased $33.9 million during the first quarter to $1.50 billion at March 31, 2026, compared to $1.46 billion at December 31, 2025. Cash and cash equivalents increased $29.6 million to $59.5 million at March 31, 2026, from $29.9 million at December 31, 2025, as deposit growth and security sales increased cash and cash equivalent levels. Investment securities available for sale decreased $13.2 million to $171.1 million at March 31, 2026, from $184.3 million one quarter earlier.
Gross loans receivable increased $15.6 million to $1.15 billion at March 31, 2026, compared to one quarter earlier. Commercial real estate loans increased $26.8 million to $578.7 million at March 31, 2026, compared to three months earlier while commercial & industrial loans increased $4.1 million to $143.6 million over the same time period. Residential real estate loans decreased $9.9 million from the prior quarter to $330.4 million while agricultural loans decreased $2.3 million to $9.2 million at March 31, 2026, compared to three months earlier and municipal loans decreased $2.8 million over the same time period. The loan portfolio remains well diversified with commercial real estate and construction loans totaling 56.7% of gross loans, followed by residential real estate loans at 28.8% of gross loans, commercial non-real estate loans at 14.1% and consumer loans at 0.4%. The lending pipeline remains strong heading into the second quarter.
The allowance for credit losses increased to 1.16% of gross loans at March 31, 2026 while annualized net charge-offs to average loans were 0.00% for the quarter ended March 31, 2026. Non-performing assets decreased $1.0 million to $16.3 million, or 1.09% of total assets at March 31, 2026, down from 1.18% at December 31, 2025. The decrease in non-performing assets primarily reflects the partial paydown of a non-owner occupied rental property of approximately $1.2 million. Approximately 73% of all non-performing assets consisted of five lending relationships.
Total deposits increased $10.0 million from the prior quarter to $1.19 billion. The largest increase in deposits was in money market deposits, which increased $21.6 million during the first quarter partially offset by a decline in retail and local time deposits and brokered deposits of $5.7 million and $8.3 million, respectively.
FHLB advances increased by $24.0 million to $137.0 million at March 31, 2026 from $113.0 million at December 31, 2025. The increase in FHLB advances offset a decline in brokered deposits totaling $8.3 million to $54.2 million at March 31, 2026.
Tangible stockholder equity as a percentage of total tangible assets was 8.72% at March 31, 2026, compared to 8.77% at December 31, 2025, and 8.05% at March 31, 2025.
Tangible net book value per common share increased $3.61 to $30.55 at March 31, 2026, compared to $26.94 one year earlier, an increase of 13.40% after dividends totaling $0.86 were paid to shareholders. Relative to the prior quarter’s tangible book value per common share of $29.99, tangible net book value per common share increased primarily due to earnings. The accumulated other comprehensive loss on the investment portfolio increased slightly to $13.2 million at March 31, 2026 as market interest rates rose slightly, compared to $13.0 million one quarter earlier and $16.7 million at March 31, 2025.
Operations Review
Net interest income increased to $11.9 million (on a net margin of 3.45%) for the first quarter of 2026, from $11.7 million (on a net margin of 3.28%) for the fourth quarter of 2025, and increased from $10.3 million (on a net margin of 3.03%) for the first quarter of 2025. The higher net interest income in the current period primarily relates to an increase in loan yields during the quarter and an increase in security yields after selling lower yielding securities during the first quarter. Overall earning asset yields increased 19 basis points to 5.61% during the first quarter of 2026 from 5.42% the prior period and cost of funds increased 3 basis points to 2.92% compared to 2.89% during the fourth quarter of 2025. Relative to one year earlier, interest-earning asset yields were up 26 basis points while the overall cost of funds declined 10 basis points.
The increase in earning-asset yields was due to higher yields on loans and investment securities. Loan yields increased during the first quarter of 2026 to 6.12% from 5.94% during the fourth quarter of 2025. Taxable security yields were 3.39% for the quarter ended March 31, 2026, compared to 3.32% for the quarter ended December 31, 2025, while a smaller balance of tax-exempt security yields increased to 3.38% for the quarter ended March 31, 2026 from 3.33% the prior quarter.
The slight increase in funding costs was due to higher deposit costs, partially offset by lower costs related to FHLB advances. Deposits costs increased 5 basis points to 2.03% for the quarter ended March 31, 2026, from 1.98% the prior quarter as loyalty programs rewarded core retail deposit customers with higher deposit rates when combined with their primary checking account. FHLB advance costs declined 12 basis points to 4.24% for the first quarter from 4.36% the prior quarter.
Total noninterest income increased $239,000 during the first quarter of 2026 to $2.3 million. The government shutdown in the fourth quarter delayed the sale of SBA 7A loans until the first quarter of 2026. As a result, other noninterest income increased to $923,000 for the quarter ended March 31, 2026 from $565,000 one quarter earlier. Additionally, life insurance benefits totaling $489,000 and a net loss of $502,000 on the sale of investment securities were realized during the first quarter ended March 31, 2026.
Noninterest expenses increased $1.2 million to $9.8 million for the first quarter of 2026, compared to $8.6 million for the fourth quarter of 2025, and increased $829,000 from $9.0 million for the first quarter of 2025. On a linked quarter basis, salary and benefits expense increased $789,000 due to higher incentive accruals and annual merit increases. Additionally, a non-recurring true-up for historical FDIC insurance premiums and one-time legal and professional expenses were realized in the first quarter ended March 31, 2026.
Income taxes decreased $388,000 during the first quarter to $495,000, from $883,000 one quarter earlier due to tax exempt life insurance benefits and from the sale of available for sale securities that had a stranded deferred tax asset that resulted from the change in the Wisconsin tax law in 2023. The effective tax rate for the quarter ended March 31, 2026 was 12.6% compared to 18.0% for the fourth quarter ended December 31, 2025.
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 twelve full-service banking locations in Marathon, Oneida, Vilas, Portage, Milwaukee and Waukesha counties. 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. 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.
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PSB Holdings, Inc.
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Consolidated Balance Sheets
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| March 31, 2026, September 30, June 30, and March 31, 2025, unaudited, December 31, 2025 derived from audited financial statements |
| | | | | | |
| | Mar. 31, | Dec. 31, | Sep. 30, | Jun. 30, | Mar. 31, |
| (dollars in thousands, except per share data) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | | | | | |
| Assets | | | | | |
| | | | | | |
| Cash and due from banks | $ | 28,053 | | $ | 19,697 | | $ | 14,221 | | $ | 23,022 | | $ | 19,628 | |
| Interest-bearing deposits | | 1,703 | | | 2,262 | | | 3,630 | | | 2,890 | | | 702 | |
| Federal funds sold | | 29,755 | | | 7,916 | | | 19,641 | | | 31,624 | | | 2,351 | |
| | | | | | |
| Cash and cash equivalents | | 59,511 | | | 29,875 | | | 37,492 | | | 57,536 | | | 22,681 | |
| Securities available for sale (at fair value) | | 171,107 | | | 184,265 | | | 190,709 | | | 184,320 | | | 182,594 | |
| Securities held to maturity (fair values of $72,485, $76,671, $76,104, $75,016 and $77,375 respectively) | | 78,826 | | | 81,511 | | | 82,195 | | | 83,123 | | | 85,373 | |
| Equity securities | | 2,904 | | | 2,892 | | | 2,885 | | | 2,885 | | | 2,847 | |
| Loans held for sale | | 652 | | | 180 | | | 145 | | | 349 | | | 734 | |
| Loans receivable, net (allowance for credit losses of $13,131, $12,605, $12,686, $12,553 and $12,392 respectively) | | 1,116,089 | | | 1,096,035 | | | 1,115,137 | | | 1,109,296 | | | 1,096,422 | |
| Accrued interest receivable | | 5,094 | | | 5,035 | | | 5,023 | | | 5,006 | | | 5,184 | |
| Foreclosed assets | | - | | | - | | | - | | | - | | | 300 | |
| Premises and equipment, net | | 13,160 | | | 12,972 | | | 13,355 | | | 13,397 | | | 13,522 | |
| Mortgage servicing rights, net | | 1,978 | | | 1,689 | | | 1,685 | | | 1,684 | | | 1,717 | |
| Federal Home Loan Bank stock (at cost) | | 7,995 | | | 8,090 | | | 8,641 | | | 9,297 | | | 8,825 | |
| Cash surrender value of bank-owned life insurance | | 24,453 | | | 25,425 | | | 25,242 | | | 25,067 | | | 24,897 | |
| Core deposit intangible | | 266 | | | 287 | | | 309 | | | 330 | | | 353 | |
| Goodwill | | 3,565 | | | 3,495 | | | 3,495 | | | 3,495 | | | 3,495 | |
| Other assets | | 9,784 | | | 9,721 | | | 10,420 | | | 10,832 | | | 10,828 | |
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| TOTAL ASSETS | $ | 1,495,384 | | $ | 1,461,472 | | $ | 1,496,733 | | $ | 1,506,617 | | $ | 1,459,772 | |
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| Liabilities | | | | | |
| | | | | | |
| Non-interest-bearing deposits | $ | 281,947 | | $ | 278,302 | | $ | 278,615 | | $ | 277,239 | | $ | 245,672 | |
| Interest-bearing deposits | | 905,082 | | | 898,729 | | | 910,571 | | | 900,303 | | | 884,364 | |
| | | | | | |
| Total deposits | | 1,187,029 | | | 1,177,031 | | | 1,189,186 | | | 1,177,542 | | | 1,130,036 | |
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| Federal Home Loan Bank advances | | 136,950 | | | 112,950 | | | 140,950 | | | 165,950 | | | 170,250 | |
| Other borrowings | | 4,119 | | | 5,397 | | | 6,062 | | | 6,250 | | | 6,343 | |
| Senior subordinated notes | | 4,789 | | | 4,788 | | | 4,786 | | | 4,784 | | | 4,783 | |
| Junior subordinated debentures | | 13,151 | | | 13,126 | | | 13,100 | | | 13,075 | | | 13,049 | |
| Allowance for credit losses on unfunded commitments | | 492 | | | 542 | | | 622 | | | 622 | | | 672 | |
| Accrued expenses and other liabilities | | 14,986 | | | 15,967 | | | 13,651 | | | 15,118 | | | 13,554 | |
| | | | | | |
| Total liabilities | | 1,361,516 | | | 1,329,801 | | | 1,368,357 | | | 1,383,341 | | | 1,338,687 | |
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| Stockholders' equity | | | | | |
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| Preferred stock - no par value: | | | | | |
| Authorized - 30,000 shares; Issued - 7,200 shares | | | | | |
| Outstanding - 7,200 shares, respectively | | 7,200 | | | 7,200 | | | 7,200 | | | 7,200 | | | 7,200 | |
| Common stock - no par value with a stated value of $1.00 per share: | | | | | |
| Authorized - 18,000,000 shares; Issued - 5,490,798 shares | | | | | |
| Outstanding - 4,020,508, 4,023,874, 4,040,538, 4,041,573 and 4,084,708 shares, respectively | | 1,830 | | | 1,830 | | | 1,830 | | | 1,830 | | | 1,830 | |
| Additional paid-in capital | | 8,732 | | | 8,727 | | | 8,707 | | | 8,659 | | | 8,608 | |
| Retained earnings | | 153,146 | | | 150,556 | | | 148,029 | | | 144,548 | | | 142,277 | |
| Accumulated other comprehensive income (loss), net of tax | | (13,264 | ) | | (13,000 | ) | | (14,166 | ) | | (15,764 | ) | | (16,692 | ) |
| Treasury stock, at cost - 1,470,290, 1,466,924, 1,450,260, 1,449,225 and 1,406,090 shares, respectively | | (23,776 | ) | | (23,642 | ) | | (23,224 | ) | | (23,197 | ) | | (22,138 | ) |
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| Total stockholders' equity | | 133,868 | | | 131,671 | | | 128,376 | | | 123,276 | | | 121,085 | |
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| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 1,495,384 | | $ | 1,461,472 | | $ | 1,496,733 | | $ | 1,506,617 | | $ | 1,459,772 | |
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PSB Holdings, Inc.
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Consolidated Statements of Income
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| | | | | Quarter Ended | |
| (dollars in thousands, | Mar. 31, | Dec. 31, | Sep. 30, | Jun. 30, | Mar. 31, |
| except per share data - unaudited) | | 2026 | | | 2025 | | | 2025 | | 2025 | | | 2025 | |
| | | | | | | | | |
| Interest and dividend income: | | | | | |
| Loans, including fees | $ | 17,066 | | $ | 16,744 | | $ | 16,745 | $ | 16,510 | | $ | 15,782 | |
| Securities: | | | | | |
| Taxable | | 1,586 | | | 1,659 | | | 1,645 | | 1,566 | | | 1,641 | |
| Tax-exempt | | 484 | | | 495 | | | 500 | | 506 | | | 517 | |
| Other interest and dividends | | 316 | | | 582 | | | 717 | | 332 | | | 345 | |
| | | | | | | | | |
| Total interest and dividend income | | 19,452 | | | 19,480 | | | 19,607 | | 18,914 | | | 18,285 | |
| | | | | | | | | |
| Interest expense: | | | | | |
| Deposits | | 5,898 | | | 5,976 | | | 6,207 | | 5,934 | | | 5,884 | |
| FHLB advances | | 1,344 | | | 1,428 | | | 1,707 | | 1,899 | | | 1,792 | |
| Other borrowings | | 25 | | | 40 | | | 45 | | 48 | | | 47 | |
| Senior subordinated notes | | 59 | | | 59 | | | 59 | | 58 | | | 59 | |
| Junior subordinated debentures | | 242 | | | 248 | | | 247 | | 250 | | | 248 | |
| | | | | | | | | |
| Total interest expense | | 7,568 | | | 7,751 | | | 8,265 | | 8,189 | | | 8,030 | |
| | | | | | | | | |
| Net interest income | | 11,884 | | | 11,729 | | | 11,342 | | 10,725 | | | 10,255 | |
| Provision for credit losses | | 475 | | | 275 | | | 138 | | 110 | | | 117 | |
| | | | | | | | | |
| Net interest income after provision for credit losses | | | | | 11,409 | | | 11,454 | | | 11,204 | | 10,615 | | | 10,138 | |
| | | | | | | | | |
| Noninterest income: | | | | | |
| Service fees | | 393 | | | 401 | | | 363 | | 366 | | | 358 | |
| Mortgage banking income | | 405 | | | 413 | | | 363 | | 411 | | | 250 | |
| Investment and insurance sales commissions | | 437 | | | 520 | | | 345 | | 335 | | | 326 | |
| Net loss on sale of securities | | (502 | ) | | - | | | - | | - | | | (1 | ) |
| Increase in cash surrender value of life insurance | | | | | 175 | | | 182 | | | 176 | | 170 | | | 163 | |
| Life insurance death benefits | | 489 | | | - | | | - | | - | | | - | |
| Other noninterest income | | 923 | | | 565 | | | 678 | | 814 | | | 770 | |
| | | | | | | | | |
| Total noninterest income | | 2,320 | | | 2,081 | | | 1,925 | | 2,096 | | | 1,866 | |
| | | | | | | | | |
| Noninterest expense: | | | | | |
| Salaries and employee benefits | | 5,948 | | | 5,159 | | | 5,446 | | 4,828 | | | 5,302 | |
| Occupancy and facilities | | 800 | | | 712 | | | 712 | | 719 | | | 786 | |
| Loss (gain) on foreclosed assets | | (36 | ) | | (23 | ) | | 1 | | (58 | ) | | - | |
| Data processing and other office operations | | 1,119 | | | 1,188 | | | 1,122 | | 1,189 | | | 1,201 | |
| Advertising and promotion | | 189 | | | 177 | | | 138 | | 189 | | | 129 | |
| Core deposit intangible amortization | | 21 | | | 21 | | | 22 | | 23 | | | 23 | |
| Other noninterest expenses | | 1,757 | | | 1,402 | | | 1,365 | | 1,303 | | | 1,528 | |
| | | | | | | | | |
| Total noninterest expense | | 9,798 | | | 8,636 | | | 8,806 | | 8,193 | | | 8,969 | |
| | | | | | | | | |
| Income before provision for income taxes | | 3,931 | | | 4,899 | | | 4,323 | | 4,518 | | | 3,035 | |
| Provision for income taxes | | 495 | | | 883 | | | 720 | | 752 | | | 473 | |
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| Net income | $ | 3,436 | | $ | 4,016 | | $ | 3,603 | $ | 3,766 | | $ | 2,562 | |
| Preferred stock dividends declared | $ | 122 | | $ | 122 | | $ | 122 | $ | 122 | | $ | 122 | |
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| Net income available to common shareholders | $ | 3,314 | | $ | 3,894 | | $ | 3,481 | $ | 3,644 | | $ | 2,440 | |
| Basic earnings per common share | $ | 0.82 | | $ | 0.97 | | $ | 0.86 | $ | 0.90 | | $ | 0.60 | |
| Diluted earnings per common share | $ | 0.82 | | $ | 0.97 | | $ | 0.86 | $ | 0.89 | | $ | 0.60 | |
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PSB Holdings, Inc.
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Quarterly Financial Summary
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| (dollars in thousands, except per share data) | Quarter ended |
| | | | | Mar. 31, | Dec. 31, | Sep. 30, | Jun. 30, | Mar. 31, |
| Earnings and dividends: | | | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | | | | | | | | |
| | Interest income | | | $ | 19,452 | | $ | 19,480 | | $ | 19,607 | | $ | 18,914 | | $ | 18,285 | |
| | Interest expense | | | $ | 7,568 | | $ | 7,751 | | $ | 8,265 | | $ | 8,189 | | $ | 8,030 | |
| | Net interest income | | | $ | 11,884 | | $ | 11,729 | | $ | 11,342 | | $ | 10,725 | | $ | 10,255 | |
| | Provision for credit losses | | $ | 475 | | $ | 275 | | $ | 138 | | $ | 110 | | $ | 117 | |
| | Other noninterest income | | $ | 2,320 | | $ | 2,081 | | $ | 1,925 | | $ | 2,096 | | $ | 1,866 | |
| | Other noninterest expense | | $ | 9,798 | | $ | 8,636 | | $ | 8,806 | | $ | 8,193 | | $ | 8,969 | |
| | Net income available to common shareholders | $ | 3,314 | | $ | 3,894 | | $ | 3,481 | | $ | 3,644 | | $ | 2,440 | |
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| | Basic earnings per common share (3) | $ | 0.82 | | $ | 0.97 | | $ | 0.86 | | $ | 0.90 | | $ | 0.60 | |
| | Diluted earnings per common share (3) | $ | 0.82 | | $ | 0.97 | | $ | 0.86 | | $ | 0.89 | | $ | 0.60 | |
| | Dividends declared per common share (3) | $ | 0.18 | | $ | 0.34 | | $ | - | | $ | 0.34 | | $ | - | |
| | Tangible net book value per common share (4) | $ | 30.55 | | $ | 29.99 | | $ | 29.05 | | $ | 27.77 | | $ | 26.94 | |
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| | Average common shares outstanding | | 4,021,327 | | | 4,028,368 | | | 4,041,393 | | | 4,070,721 | | | 4,088,824 | |
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| Balance sheet - average balances: | | | | | | |
| | Loans receivable, net of allowances for credit loss | | | $ | 1,118,837 | | $ | 1,107,114 | | $ | 1,111,055 | | $ | 1,111,004 | | $ | 1,091,533 | |
| | Assets | | | $ | 1,478,103 | | $ | 1,501,135 | | $ | 1,510,272 | | $ | 1,480,851 | | $ | 1,462,862 | |
| | Deposits | | | $ | 1,175,510 | | $ | 1,199,363 | | $ | 1,191,002 | | $ | 1,142,279 | | $ | 1,140,397 | |
| | Stockholders' equity | | | $ | 134,946 | | $ | 131,606 | | $ | 125,342 | | $ | 123,077 | | $ | 118,576 | |
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| Performance ratios: | | | | | | | |
| | Return on average assets (1) | | | 0.94% | | | 1.06% | | | 0.95% | | | 1.02% | | | 0.71% | |
| | Return on average common stockholders' equity (1) | | | | 10.52% | | | 12.42% | | | 11.69% | | | 12.61% | | | 8.88% | |
| | Return on average tangible common | | | | | |
| | stockholders' equity (1)(4) | | | 10.90% | | | 12.86% | | | 12.14% | | | 13.11% | | | 9.21% | |
| | Net loan charge-offs to average loans (1) | | 0.00% | | | 0.16% | | | 0.00% | | | 0.00% | | | 0.02% | |
| | Nonperforming loans to gross loans | | | 1.44% | | | 1.56% | | | 1.51% | | | 1.39% | | | 1.15% | |
| | Nonperforming assets to total assets | | | 1.09% | | | 1.18% | | | 1.13% | | | 1.04% | | | 0.89% | |
| | Allowance for credit losses to gross loans | | 1.16% | | | 1.14% | | | 1.12% | | | 1.12% | | | 1.12% | |
| | Nonperforming assets to tangible equity | | | | | |
| | plus the allowance for credit losses (4) | | 12.13% | | | 13.10% | | | 13.17% | | | 12.64% | | | 10.71% | |
| | Net interest rate margin (1)(2) | | | 3.45% | | | 3.28% | | | 3.16% | | | 3.09% | | | 3.03% | |
| | Net interest rate spread (1)(2) | | | 2.69% | | | 2.53% | | | 2.42% | | | 2.34% | | | 2.33% | |
| | Service fee revenue as a percent of | | | | | | |
| | average demand deposits (1) | | | 0.58% | | | 0.55% | | | 0.52% | | | 0.54% | | | 0.58% | |
| | Noninterest income as a percent | | | | | | |
| | of gross revenue | | | | 10.66% | | | 9.65% | | | 8.94% | | | 9.98% | | | 9.26% | |
| | Efficiency ratio (2) | | | | 68.24% | | | 61.82% | | | 65.47% | | | 63.00% | | | 72.88% | |
| | Noninterest expenses to average assets (1) | | 2.69% | | | 2.28% | | | 2.31% | | | 2.22% | | | 2.49% | |
| | Average stockholders' equity less accumulated | | | | | |
| | other comprehensive income (loss) to | | | | | |
| | average assets | | | | 9.93% | | | 9.59% | | | 9.20% | | | 9.31% | | | 9.22% | |
| | Tangible equity to tangible assets (4) | | 8.72% | | | 8.77% | | | 8.34% | | | 7.95% | | | 8.05% | |
| | | | | | | | | |
| Stock price information: | | | | | | | |
| | | | | | | | | |
| | High | | | $ | 28.50 | | $ | 26.30 | | $ | 26.00 | | $ | 25.70 | | $ | 26.50 | |
| | Low | | | $ | 26.10 | | $ | 24.34 | | $ | 23.30 | | $ | 23.65 | | $ | 25.60 | |
| | Last trade value at quarter-end | | $ | 27.74 | | $ | 26.10 | | $ | 25.50 | | $ | 23.89 | | $ | 25.70 | |
| | | | | | | | | |
| (1) Annualized | | | | | | | |
| (2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%. |
| (3) Due to rounding, cumulative quarterly per share performance may not equal annual per share totals. | |
| (4) Tangible stockholders' equity excludes goodwill and core deposit intangibles. | | | |
| | | | | | |
PSB Holdings, Inc.
| | |
Consolidated Statements of Comprehensive Income
|
| | | | | | | | |
| | | | Quarter Ended |
| | | | Mar. 31, | Dec. 31, | Sep. 30, | Jun. 30, | Mar. 31, |
| (dollars in thousands - unaudited) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | | | | | | | |
| Net income | $ | 3,436 | | $ | 4,016 | | $ | 3,603 | | $ | 3,766 | | $ | 2,562 | |
| | | | | | | | |
| Other comprehensive income, net of tax: | | | | | |
| | | | | | | | |
| | Unrealized gain (loss) on securities availablefor sale
| | (711 | ) | | 1,065 | | | 1,550 | | | 972 | | | 2,551 | |
| | | | | | | | |
| | Reclassification adjustment for security loss included in net income
| | 396 | | | - | | | - | | | - | | | 1 | |
| | | | | | | | |
| | Accretion of unrealized loss included in net income on securities available for sale deferred tax adjustment for Wisconsin Act 19
| | (83 | ) | | - | | | (26 | ) | | (35 | ) | | - | |
| | | | | | | | |
| | Amortization of unrealized loss included in net income on securities available for sale transferred to securities held to maturity
| | 91 | | | 90 | | | 90 | | | 91 | | | 89 | |
| | | | | | | | |
| | Unrealized gain (loss) on interest rate swap | | 43 | | | 18 | | | (2 | ) | | (87 | ) | | (6 | ) |
| | | | | | | | |
| | Reclassification adjustment of interest rate swap settlements included in earnings
| | - | | | (7 | ) | | (15 | ) | | (13 | ) | | (13 | ) |
| | | | | | | | |
| | | | | | | | |
| Other comprehensive income (loss) | | (264 | ) | | 1,166 | | | 1,597 | | | 928 | | | 2,622 | |
| | | | | | | | |
| Comprehensive income | $ | 3,172 | | $ | 5,182 | | $ | 5,200 | | $ | 4,694 | | $ | 5,184 | |
| | | | | | | | |
PSB Holdings, Inc.
| | |
Nonperforming Assets as of:
| | |
| | Mar 31, | Dec 31, | Sep 30, | Jun 30, | Mar 31, |
| (dollars in thousands) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | | | | | |
| Nonaccrual loans (excluding restructured loans) | $ | 15,438 | | $ | 16,436 | | $ | 16,560 | | $ | 15,333 | | $ | 12,404 | |
| Nonaccrual restructured loans | | 6 | | | 7 | | | 10 | | | 13 | | | 17 | |
| Restructured loans not on nonaccrual | | 863 | | | 865 | | | 415 | | | 295 | | | 280 | |
| Accruing loans past due 90 days or more | | - | | | - | | | - | | | - | | | - | |
| | | | | | |
| Total nonperforming loans | | 16,307 | | | 17,308 | | | 16,985 | | | 15,641 | | | 12,701 | |
| Other real estate owned | | - | | | - | | | - | | | - | | | 300 | |
| | | | | | |
| Total nonperforming assets | $ | 16,307 | | $ | 17,308 | | $ | 16,985 | | $ | 15,641 | | $ | 13,001 | |
| | | | | | |
| Nonperforming loans as a % of gross loans receivable | | 1.44% | | | 1.56% | | | 1.51% | | | 1.39% | | | 1.15% | |
| Total nonperforming assets as a % of total assets | | 1.09% | | | 1.18% | | | 1.13% | | | 1.04% | | | 0.89% | |
| Allowance for credit losses as a % of nonperforming loans | | 80.52% | | | 72.83% | | | 74.69% | | | 80.26% | | | 97.57% | |
| | | | | | |
PSB Holdings, Inc.
| |
Nonperforming Assets >= $1,000,000 net book value before specific reserves
|
At March 31, 2026
| |
| (dollars in thousands) | | | |
| | | Gross | Specific |
| Collateral Description | Asset Type | Principal | Reserves |
| | | | |
| Real estate - Non-Owner Occupied Rental Properties | Nonaccrual | | 2,701 | | | - | |
| Real estate - Recreational Facility | Nonaccrual | | 3,639 | | | 117 | |
| Real estate - Equipment Dealership | Nonaccrual | | 2,295 | | | 1,101 | |
| Real estate - Wood Products | Nonaccrual | | 1,683 | | | 375 | |
| Real estate - Non-Owner Occupied Commercial Rental Property | Nonaccrual | | 1,641 | | | 68 | |
| | | | |
| | | | |
| Total listed nonperforming assets | | $ | 11,959 | | $ | 1,661 | |
| Total bank wide nonperforming assets | | $ | 16,307 | | $ | 2,236 | |
| Listed assets as a % of total nonperforming assets | | | 73% | | | 74% | |
| | | | |
PSB Holdings, Inc.
| | |
Loan Composition by Collateral Type
|
| Quarter-ended (dollars in thousands) | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| | | | | | |
| Commercial: | | | | | |
| Commercial and industrial | $ | 143,572 | | $ | 139,479 | | $ | 137,199 | | $ | 135,313 | | $ | 124,074 | |
| Agriculture | | 9,188 | | | 11,463 | | | 12,443 | | | 13,219 | | | 11,632 | |
| Municipal | | 8,481 | | | 11,317 | | | 8,361 | | | 12,805 | | | 12,878 | |
| | | | | | |
| Total Commercial | | 161,241 | | | 162,259 | | | 158,003 | | | 161,337 | | | 148,584 | |
| | | | | | |
| Commercial Real Estate: | | | | | |
| Commercial real estate | | 578,655 | | | 551,899 | | | 569,382 | | | 566,526 | | | 562,901 | |
| Construction and development | | 70,757 | | | 70,574 | | | 81,278 | | | 77,905 | | | 87,080 | |
| | | | | | |
| Total Commercial Real Estate | | 649,412 | | | 622,473 | | | 650,660 | | | 644,431 | | | 649,981 | |
| | | | | | |
| Residential real estate: | | | | | |
| Residential | | 251,356 | | | 259,573 | | | 263,791 | | | 266,203 | | | 268,490 | |
| Construction and development | | 34,540 | | | 36,596 | | | 37,475 | | | 31,439 | | | 26,884 | |
| HELOC | | 44,545 | | | 44,219 | | | 41,661 | | | 39,425 | | | 38,364 | |
| | | | | | |
| Total Residential Real Estate | | 330,441 | | | 340,388 | | | 342,927 | | | 337,067 | | | 333,738 | |
| | | | | | |
| Consumer installment | | 4,648 | | | 5,053 | | | 4,801 | | | 4,886 | | | 4,683 | |
| | | | | | |
| Subtotals - Gross loans | | 1,145,742 | | | 1,130,173 | | | 1,156,391 | | | 1,147,721 | | | 1,136,986 | |
| Loans in process of disbursement | | (17,148 | ) | | (22,178 | ) | | (29,170 | ) | | (26,496 | ) | | (28,752 | ) |
| | | | | | |
| Subtotals - Disbursed loans | | 1,128,594 | | | 1,107,995 | | | 1,127,221 | | | 1,121,225 | | | 1,108,234 | |
| Net deferred loan costs | | 626 | | | 645 | | | 602 | | | 624 | | | 580 | |
| Allowance for credit losses | | (13,131 | ) | | (12,605 | ) | | (12,686 | ) | | (12,553 | ) | | (12,392 | ) |
| | | | | | |
| Total loans receivable | $ | 1,116,089 | | $ | 1,096,035 | | $ | 1,115,137 | | $ | 1,109,296 | | $ | 1,096,422 | |
| | | | | | |
PSB Holdings, Inc.
| |
Selected Commercial Real Estate Loans by Purpose
|
| | Mar 31, | | Dec 31, | | Sept 30, | | Jun 31, | | Mar 31, |
| (dollars in thousands) | | 2026 | | | | 2025 | | | | 2025 | | | | 2025 | | | | 2025 | |
| | | | | | | | | | | | | | | |
| | Total Exposure | % of Portfolio (1) | | Total Exposure | % of Portfolio (1) | | Total Exposure | % of Portfolio (1) | | Total Exposure | % of Portfolio (1) | | Total Exposure | % of Portfolio (1) |
| Multi Family | $ | 134,236 | 12.9 | % | | $ | 145,717 | 14.3 | % | | $ | 141,896 | 13.5 | % | | $ | 145,523 | 14.0 | % | | $ | 143,674 | 13.9 | % |
| Industrial and Warehousing | | 101,581 | 9.8 | | | | 101,581 | 9.9 | | | | 100,712 | 9.6 | | | | 105,256 | 10.2 | | | | 109,366 | 10.6 | |
| Retail | | 27,948 | 2.7 | | | | 27,756 | 2.7 | | | | 27,889 | 2.7 | | | | 29,407 | 2.8 | | | | 29,285 | 2.8 | |
| Hotels | | 25,080 | 2.4 | | | | 25,949 | 2.6 | | | | 25,677 | 2.4 | | | | 25,299 | 2.4 | | | | 25,719 | 2.5 | |
| Office | | 4,097 | 0.4 | | | | 7,028 | 0.7 | | | | 7,176 | 0.7 | | | | 7,131 | 0.7 | | | | 7,254 | 0.7 | |
| | | | | | | | | | | | | | | |
(1) Percentage of commercial and commercial real estate portfolio and commitments.
|
| |
PSB Holdings, Inc.
| | | | | |
Deposit Composition
| | | | |
| | | | | | | | | | | |
| Insured and Collateralized Deposits | March 31, | December 31, | September 30, | June 30, | March 31, |
| (dollars in thousands) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | $ | % | $ | % | $ | % | $ | % | $ | % |
| | | | | | | | | | | |
| Non-interest bearing demand | $ | 221,921 | 18.5 | % | $ | 225,025 | 19.1 | % | $ | 227,448 | 19.1 | % | $ | 225,921 | 19.2 | % | $ | 206,562 | 18.3 | % |
| Interest-bearing demand and savings | | 321,604 | 27.1 | % | | 323,739 | 27.5 | % | | 307,505 | 25.8 | % | | 304,779 | 25.9 | % | | 314,957 | 27.9 | % |
| Money market deposits | | 146,655 | 12.4 | % | | 142,946 | 12.1 | % | | 158,455 | 13.3 | % | | 148,556 | 12.6 | % | | 144,496 | 12.7 | % |
| Retail and local time deposits <= $250 | | 157,898 | 13.3 | % | | 163,398 | 13.9 | % | | 163,446 | 13.7 | % | | 165,368 | 14.0 | % | | 158,066 | 14.0 | % |
| | | | | | | | | | | |
| Total core deposits | | 848,078 | 71.3 | % | | 855,108 | 72.6 | % | | 856,854 | 71.9 | % | | 844,624 | 71.7 | % | | 824,081 | 72.9 | % |
| Retail and local time deposits > $250 | | 26,500 | 2.2 | % | | 28,000 | 2.4 | % | | 29,000 | 2.5 | % | | 28,000 | 2.4 | % | | 26,750 | 2.3 | % |
| Broker & national time deposits <= $250 | | 748 | 0.1 | % | | 748 | 0.1 | % | | 748 | 0.1 | % | | 748 | 0.1 | % | | 1,241 | 0.1 | % |
| Broker & national time deposits > $250 | | 54,191 | 4.6 | % | | 62,493 | 5.3 | % | | 67,493 | 5.7 | % | | 65,917 | 5.6 | % | | 79,090 | 7.0 | % |
| | | | | | | | | | | |
| Totals | $ | 929,517 | 78.2 | % | $ | 946,349 | 80.4 | % | $ | 954,095 | 80.2 | % | $ | 939,289 | 79.8 | % | $ | 931,162 | 82.3 | % |
| | | | | | | | | | | |
PSB Holdings, Inc.
| | | |
Deposit Composition
| | | |
| | | | | | | | | | | |
| Uninsured Deposits | March 31, | December 31, | September 30, | June 30, | March 31, |
| (dollars in thousands) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | $ | % | $ | % | $ | % | $ | % | $ | % |
| | | | | | | | | | | |
| Non-interest bearing demand | $ | 60,026 | 5.1 | % | $ | 53,277 | 4.5 | % | $ | 51,167 | 4.3 | % | $ | 51,318 | 4.4 | % | $ | 39,110 | 3.5 | % |
| Interest-bearing demand and savings | | 18,533 | 1.6 | % | | 17,683 | 1.5 | % | | 18,644 | 1.6 | % | | 17,983 | 1.5 | % | | 17,262 | 1.5 | % |
| Money market deposits | | 128,415 | 10.8 | % | | 110,501 | 9.4 | % | | 117,184 | 9.9 | % | | 122,603 | 10.4 | % | | 123,773 | 11.0 | % |
| Retail and local time deposits <= $250 | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % |
| | | | | | | | | | | |
| Total core deposits | | 206,974 | 17.5 | % | | 181,461 | 15.4 | % | | 186,995 | 15.8 | % | | 191,904 | 16.3 | % | | 180,145 | 16.0 | % |
| Retail and local time deposits > $250 | | 50,538 | 4.3 | % | | 49,221 | 4.2 | % | | 48,096 | 4.0 | % | | 46,349 | 3.9 | % | | 18,729 | 1.7 | % |
| Broker & national time deposits <= $250 | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % |
| Broker & national time deposits > $250 | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % | | - | 0.0 | % |
| | | | | | | | | | | |
| Totals | $ | 257,512 | 21.8 | % | $ | 230,682 | 19.6 | % | $ | 235,091 | 19.8 | % | $ | 238,253 | 20.2 | % | $ | 198,874 | 17.7 | % |
| | | | | | | | | | | |
| | | | | | | | | | | |
PSB Holdings, Inc.
| | | |
Deposit Composition
| | | |
| | | | | | | | | | | |
| Total Deposits | March 31, | December 31, | September 30, | June 30, | March 31, |
| (dollars in thousands) | | 2026 | | | 2025 | | | 2025 | | | 2025 | | | 2025 | |
| | $ | % | $ | % | $ | % | $ | % | $ | % |
| | | | | | | | | | | |
| Non-interest bearing demand | $ | 281,947 | 23.6 | % | $ | 278,302 | 23.6 | % | $ | 278,615 | 23.4 | % | $ | 277,239 | 23.6 | % | $ | 245,672 | 21.8 | % |
| Interest-bearing demand and savings | | 340,137 | 28.7 | % | | 341,422 | 29.0 | % | | 326,149 | 27.4 | % | | 322,762 | 27.4 | % | | 332,219 | 29.4 | % |
| Money market deposits | | 275,070 | 23.2 | % | | 253,447 | 21.5 | % | | 275,639 | 23.2 | % | | 271,159 | 23.0 | % | | 268,269 | 23.7 | % |
| Retail and local time deposits <= $250 | | 157,898 | 13.3 | % | | 163,398 | 13.9 | % | | 163,446 | 13.7 | % | | 165,368 | 14.0 | % | | 158,066 | 14.0 | % |
| | | | | | | | | | | |
| Total core deposits | | 1,055,052 | 88.8 | % | | 1,036,569 | 88.0 | % | | 1,043,849 | 87.7 | % | | 1,036,528 | 88.0 | % | | 1,004,226 | 88.9 | % |
| Retail and local time deposits > $250 | | 77,038 | 6.5 | % | | 77,221 | 6.6 | % | | 77,096 | 6.5 | % | | 74,349 | 6.3 | % | | 45,479 | 4.0 | % |
| Broker & national time deposits <= $250 | | 748 | 0.1 | % | | 748 | 0.1 | % | | 748 | 0.1 | % | | 748 | 0.1 | % | | 1,241 | 0.1 | % |
| Broker & national time deposits > $250 | | 54,191 | 4.6 | % | | 62,493 | 5.3 | % | | 67,493 | 5.7 | % | | 65,917 | 5.6 | % | | 79,090 | 7.0 | % |
| | | | | | | | | | | |
| Totals | $ | 1,187,029 | 100.0 | % | $ | 1,177,031 | 100.0 | % | $ | 1,189,186 | 100.0 | % | $ | 1,177,542 | 100.0 | % | $ | 1,130,036 | 100.0 | % |
| | | | | | | | | | | |
PSB Holdings, Inc.
| | |
Average Balances ($000) and Interest Rates
|
(dollars in thousands)
| | | |
| | | | | | | | | | | | |
| | Quarter ended March 31, 2026 | | Quarter ended December 31, 2025 | | Quarter ended March 31, 2025 |
| | Average | | Yield / | | Average | | Yield / | | Average | | Yield / |
| | Balance | Interest | Rate | | Balance | Interest | Rate | | Balance | Interest | Rate |
| Assets | | | | | | | | | | | |
| Interest-earning assets: | | | | | | | | | | | |
| Loans (1)(2) | $ | 1,131,775 | | $ | 17,092 | 6.12 | % | | $ | 1,119,854 | | $ | 16,771 | 5.94 | % | | $ | 1,103,895 | | $ | 15,830 | 5.82 | % |
| Taxable securities | | 189,726 | | | 1,586 | 3.39 | % | | | 198,179 | | | 1,659 | 3.32 | % | | | 198,426 | | | 1,641 | 3.35 | % |
| Tax-exempt securities (2) | | 73,515 | | | 613 | 3.38 | % | | | 74,660 | | | 627 | 3.33 | % | | | 79,282 | | | 654 | 3.35 | % |
| FHLB stock | | 7,792 | | | 182 | 9.47 | % | | | 8,424 | | | 206 | 9.70 | % | | | 8,825 | | | 241 | 11.08 | % |
| Other | | 14,247 | | | 134 | 3.81 | % | | | 37,420 | | | 376 | 3.99 | % | | | 8,960 | | | 104 | 4.71 | % |
| | | | | | | | | | | | |
| Total (2) | | 1,417,055 | | | 19,607 | 5.61 | % | | | 1,438,537 | | | 19,639 | 5.42 | % | | | 1,399,388 | | | 18,470 | 5.35 | % |
| | | | | | | | | | | | |
| Non-interest-earning assets: | | | | | | | | | | |
| Cash and due from banks | | 15,719 | | | | | | 16,397 | | | | | | 16,292 | | | |
| Premises and equipment, net | | 12,957 | | | | | | 13,239 | | | | | | 13,728 | | | |
| Cash surrender value ins | | 25,237 | | | | | | 25,312 | | | | | | 24,795 | | | |
| Other assets | | 20,073 | | | | | | 20,390 | | | | | | 21,021 | | | |
| Allowance for credit losses | | (12,938 | ) | | | | | (12,740 | ) | | | | | (12,362 | ) | | |
| | | | | | | | | | | | |
| Total | $ | 1,478,103 | | | | | | $ | 1,501,135 | | | | | | $ | 1,462,862 | | | | |
| | | | | | | | | | | | |
| Liabilities & stockholders' equity | | | | | | | | | | |
| Interest-bearing liabilities: | | | | | | | | | | |
| Savings and demand deposits | $ | 343,033 | | $ | 1,567 | 1.85 | % | | $ | 325,693 | | $ | 1,328 | 1.62 | % | | $ | 339,909 | | $ | 1,567 | 1.87 | % |
| Money market deposits | | 261,407 | | | 1,617 | 2.51 | % | | | 276,259 | | | 1,704 | 2.45 | % | | | 280,396 | | | 1,685 | 2.44 | % |
| Time deposits | | 297,006 | | | 2,714 | 3.71 | % | | | 306,350 | | | 2,944 | 3.81 | % | | | 268,821 | | | 2,632 | 3.97 | % |
| FHLB borrowings | | 128,666 | | | 1,344 | 4.24 | % | | | 130,048 | | | 1,428 | 4.36 | % | | | 164,968 | | | 1,792 | 4.41 | % |
| Other borrowings | | 4,778 | | | 25 | 2.12 | % | | | 6,037 | | | 40 | 2.63 | % | | | 6,321 | | | 47 | 3.02 | % |
| Senior sub. notes | | 4,789 | | | 59 | 5.00 | % | | | 4,787 | | | 59 | 4.89 | % | | | 4,782 | | | 59 | 5.00 | % |
| Junior sub. debentures | | 13,139 | | | 242 | 7.47 | % | | | 13,113 | | | 248 | 7.50 | % | | | 13,036 | | | 248 | 7.72 | % |
| | | | | | | | | | | | |
| Total | | 1,052,818 | | | 7,568 | 2.92 | % | | | 1,062,287 | | | 7,751 | 2.89 | % | | | 1,078,233 | | | 8,030 | 3.02 | % |
| | | | | | | | | | | | |
| Non-interest-bearing liabilities: | | | | | | | | | | |
| Demand deposits | | 274,064 | | | | | | 291,061 | | | | | | 251,271 | | | |
| Other liabilities | | 16,275 | | | | | | 16,181 | | | | | | 14,782 | | | |
| Stockholders' equity | | 134,946 | | | | | | 131,606 | | | | | | 118,576 | | | |
| | | | | | | | | | | | |
| Total | $ | 1,478,103 | | | | | | $ | 1,501,135 | | | | | | $ | 1,462,862 | | | | |
| | | | | | | | | | | | |
| Net interest income | | $ | 12,039 | | | | $ | 11,888 | | | | $ | 10,440 | |
| Rate spread | | | 2.69 | % | | | | 2.53 | % | | | | 2.33 | % |
| Net yield on interest-earning assets | | 3.45 | % | | | | 3.28 | % | | | | 3.03 | % |
| | | | | | | | | | | | |
| (1) Nonaccrual loans are included in the daily average loan balances outstanding. | | | | | |
| (2) The yield on federally tax-exempt loans and securities is computed on a tax-equivalent basis using a federal tax rate of 21%. | |
| | |
Investor Relations Contact
PSB Holdings, Inc.
1905 Stewart Avenue
Wausau, WI 54401
888.929.9902
InvestorRelations@bankpeoples.com
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