PSB Holdings, Inc. (OTCMKTS:PSBQ) is the parent company of Peoples State Bank. A community bank headquartered in Wisconsin, the bank serves northcentral and southeastern Wisconsin from ten full-service banking locations. The firm also gives insurance and investment products, along with retirement planning services, through Peoples Wealth Management. PSB Holdings, Inc trades under the stock symbol PSBQ on the OTCQX Market.
On Wednesday, PSBQ stock ended flat at $24.55 with more than 1.4K shares, compared to its average volume of 2.4K shares. The stock moved within a range of $24.55 – 24.55 after opening trading at $24.55.
PSB Holdings, Inc. Increases Semi-Annual Cash Dividend To $0.25 Per Share
PSB Holdings, Inc on June 21, 2022, announced that the Board of Directors declared a regular semi-annual cash dividend of $0.25 per share. Payable by July 29, 2022, to shareholders on record by July 15, 2022, it represents a surge of 8.7% over the $0.23 per share semi-annual cash dividend. The present dividend will be continuing a 58-year tradition of cash dividends to the shareholders including twenty-nine consecutive years of higher cash dividends per share.
PSB President and CEO Scott M. Cattanach said that the company continued to deliver robust returns on tangible capital all through the pandemic. The CEO believes that the firm is positioned well on coping with higher interest rates and elevated inflation. Scott further stated that the local economic climate continues to be robust, and the bank is in a robust financial position for supporting higher dividend payments to shareholders.
Peoples State Bank had earlier announced that Jessica Brown, CPA, joined the company as Senior Vice President and Chief Financial Officer. Brown will be responsible for managing profitability as well as capital funding of the institution.
Scott Cattanach, Peoples State Bank president, and CEO said that Jessica’s diverse financial experience with community financial institutions and large banks will be an asset moving ahead. Cattanach added that Brown has focused on consistent operational efficiencies and entrepreneurial growth, which will help bring the next level of sophistication to the company.
Brown will also be monitoring complete aspects of the bank’s balance sheet. Additionally, she will be supporting mergers and acquisition initiatives as well as investor relations. With over 25 years of experience as a CPA, she had recently been CFO for a $5 billion credit union in Wisconsin. Brown said that Peoples has an amazing reputation and is excited about contributing to its success as a robust community bank.
PSB President and CEO Scott M. Cattanach said, “We continued to deliver strong returns on tangible capital throughout the pandemic and believe we are well-positioned to cope with rising interest rates and elevated inflation. Our local economic climate remains healthy, and the bank remains in a strong financial position to support increased dividend payments to our shareholders.”
PSBQ stock is trading below the 20-Day and 20-Day Moving averages of $25.05 and $25.77 respectively. Moreover, the stock is trading below the 200-Day moving average of $25.80.