PSB Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 24, 2023 at 08:30 am EDT
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PSB Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 9.51 million compared to USD 9.7 million a year ago. Net income was USD 2.81 million compared to USD 3.19 million a year ago. Basic earnings per share from continuing operations was USD 0.64 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 0.64 compared to USD 0.72 a year ago.
For the six months, net interest income was USD 19.4 million compared to USD 19.29 million a year ago. Net income was USD 5.81 million compared to USD 6.52 million a year ago. Basic earnings per share from continuing operations was USD 1.34 compared to USD 1.47 a year ago. Diluted earnings per share from continuing operations was USD 1.34 compared to USD 1.47 a year ago.
PSB Holdings, Inc. is a holding company for Peoples State Bank (Peoples). Peoples is a community bank, which serves north central and southeastern Wisconsin with 10 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. Its commercial and industrial loans, municipal loans and agricultural loans are primarily for working capital, physical asset expansion and asset acquisition loans. Its commercial real estate loans are primarily secured by owner and non-owner-occupied office and industrial buildings, warehouses, small retail shopping facilities and various special purpose properties, including hotels and restaurants. Its construction and land development loans are secured by vacant land and/or property that is in the process of improvement.