- PSB Holdings press release ( OTCQX:PSBQ ): Q4 GAAP EPS of $0.80.
- Revenue of $12.43M (+8.5% Y/Y).
- Noninterest expense increased $499,000 for the fourth quarter of 2022, to $7.7 million from $7.2 million the prior quarter. The increase was primarily related to higher salary and benefit costs.
- Loans receivable increased $25 million, or 2.7%, to $962 million at December 31, 2022 from $937 million one quarter earlier. For the fiscal year ended December 31, 2022, loans increased $85.5 million, or 9.8%.
- Asset quality improved and continued to remain strong. At December 31, 2022, non-performing assets declined $4.8 million to 0.48% of total assets from 1.06% one year earlier. No loan loss provisions were recorded during 2022 due to strong credit quality.
- Tangible book value per common share increased to $21.37 at December 31, 2022 from $20.83 one quarter earlier. Return on tangible common equity was 15.12% for the quarter ended December 31, 2022, compared to 14.58% the prior quarter.
- On December 19, 2022, PSB announced that it has adopted a program to repurchase up to 5% of outstanding shares of its common stock. Through the end of the fourth quarter of 2022, PSB repurchased 55,113 shares as part of this plan.
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PSB Holdings GAAP EPS of $0.80, revenue of $12.43M