PSB Holdings, Inc. Reports Record Quarterly Earnings of $0.97 Per Share and Record Annual Earnings of $3.31 Per Share; Tangible Book Value Increases to $29.99 Per Share

Core Insights - PSB Holdings, Inc. reported record fourth quarter earnings for 2025, with diluted earnings per share of $0.97 and net income of $3.9 million, compared to $0.86 per share and $3.5 million in the previous quarter, and $0.73 per share and $3.0 million in the same quarter of 2024 [1][3][23] - The total earnings for calendar year 2025 reached $13.5 million, or $3.31 per diluted share, marking a 40% increase per share compared to 2024 earnings of $9.8 million, or $2.37 per diluted share [1][3] Financial Performance - The net interest income increased to $11.7 million for the fourth quarter of 2025, up from $11.3 million in the third quarter, attributed to lower deposit and borrowing costs [5][12] - Noninterest income rose to $2.1 million, an increase of $156,000 from the previous quarter, driven by higher mortgage banking income and investment and insurance sales commissions [5][15] - Noninterest expenses decreased by $170,000 to $8.6 million, reflecting lower salary and benefit plan expenses [5][16] Balance Sheet and Asset Quality - Total assets decreased by $35.3 million to $1.46 billion at December 31, 2025, with cash and cash equivalents down to $29.9 million [5][20] - Net loans decreased by $19.1 million to $1.10 billion, primarily due to a large borrower selling their business [5][7] - Non-performing assets slightly increased to $17.3 million, or 1.18% of total assets, compared to 1.13% in the previous quarter [5][8] Capital and Dividends - The return on average tangible common equity was 12.86% for the fourth quarter, up from 12.14% in the prior quarter [5][24] - Tangible book value per common share increased by 15.43% to $29.99 compared to $25.98 a year earlier [5][11] - The company announced a shift to quarterly dividend payments, reflecting confidence in its ability to generate strong profitability [3][5]