PSB Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 27, 2021 at 06:30 pm IST
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PSB Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net interest income was USD 9.62 million compared to USD 7.89 million a year ago. Net income was USD 3.64 million compared to USD 2.64 million a year ago. Basic earnings per share from continuing operations was USD 0.82 compared to USD 0.59 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 0.59 a year ago.
For the nine months, net interest income was USD 29.38 million compared to USD 23.45 million a year ago. Net income was USD 9.67 million compared to USD 7.44 million a year ago. Basic earnings per share from continuing operations was USD 2.17 compared to USD 1.67 a year ago. Diluted earnings per share from continuing operations was USD 2.17 compared to USD 1.67 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.