PSB Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2020
January 25, 2021 at 07:30 pm IST
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PSB Holdings, Inc. reported unaudited consolidated earnings results for the quarter and full year ended December 31, 2020. For the quarter, the company reported net interest income of $8,431,000 compared to $7,969,000 a year ago. Net interest income after provision for loan losses was $7,756,000 compared to $7,819,000 a year ago. Net income was $3,252,000 compared to $2,813,000 a year ago. Basic and diluted earnings per share was $0.73 compared to $0.63 a year ago.
For the full year, the company reported net interest income of $31,879,000 compared to $31,283,000 a year ago. Net interest income after provision for loan losses was $26,304,000 compared to $30,433,000 a year ago. Net income was $10,689,000 compared to $11,247,000 a year ago. Basic and diluted earnings per share was $2.40 compared to $2.51 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.
PSB HOLDINGS, INC. 
