WAUSAU, Wis., Dec. 19, 2025 (GLOBE NEWSWIRE) -- PSB Holdings, Inc. (OTCQX: PSBQ), parent company of Peoples State Bank, is pleased to announce that on December 16, 2025, its Board of Directors declared a regular semi-annual cash dividend of $0.34 per share of the Company’s common stock, a 6.3% increase over the amount declared this time last year. The dividend is payable January 30, 2026 to shareholders of record as of January 12, 2026. The current dividend continues a 61-year tradition of cash dividends to ...

US-based insurance brokerage Trucordia has acquired Global Financial & Insurance Services, an insurance and financial services provider based in Texas, US. Financial specifics of the deal remain undisclosed. Global Financial & Insurance has a presence in Dallas, Houston, Fort Worth and Los Angeles, and serves clients across all 50 US states. It assists individuals, families and businesses with a variety of insurance and financial offerings. The business was founded by Amin Chagani, and provides covera ...

Core Viewpoint - PSB Holdings, Inc. reported a slight decrease in earnings per share for the third quarter of 2025 compared to the previous quarter, but a significant increase compared to the same quarter last year, reflecting improved net interest margins and operational efficiency [1][3]. Financial Performance - Earnings per diluted common share for Q3 2025 were $0.86, down from $0.89 in Q2 2025 but up from $0.69 in Q3 2024 [1]. - Net income for Q3 2025 was $3.5 million, compared to $3.6 million in Q2 2025 and $2.9 million in Q3 2024 [1]. - Net interest income increased by $617,000 to $11.3 million in Q3 2025, attributed to higher yields on loans and lower funding costs [5][13]. Balance Sheet and Asset Quality - Total assets decreased by $9.9 million to $1.50 billion at the end of Q3 2025 [5]. - Cash and cash equivalents decreased by $20.0 million to $37.4 million [5]. - Non-performing assets increased by $1.3 million to $17.0 million, representing 1.13% of total assets [8][5]. - Total deposits increased by $11.6 million to $1.19 billion [9]. Loan Portfolio - Net loans increased by $5.8 million, or 1%, to $1.12 billion [5]. - The loan portfolio remains diversified, with commercial real estate and construction loans making up 56.3% of gross loans [7]. Non-Interest Income and Expenses - Non-interest income decreased by $171,000 to $1.9 million, primarily due to lower mortgage banking income [5][16]. - Non-interest expenses increased by $613,000 to $8.8 million, mainly due to higher health insurance costs [5][17]. Capital and Equity - Tangible book value per common share increased by 10.0% to $29.05 compared to $26.41 a year earlier [12]. - The return on average tangible common equity was 12.14% for Q3 2025, down from 13.11% in Q2 2025 [11][27]. Management Commentary - The CEO highlighted the return of net interest margins to historical levels and the successful expansion into the Milwaukee region, which has provided good lending opportunities [3]. - The company has increased tangible capital by $9.0 million over the past year and expects to continue expanding capital in 2026 [3].

Core Viewpoint - TowneBank and Old Point Financial Corporation have received all necessary regulatory approvals to complete their merger, expected to close around September 1, 2025, pending customary closing conditions [1]. Group 1: Merger Details - The merger involves Old Point and its subsidiary, Old Point National Bank, merging with TowneBank [1]. - The deadline for Old Point common stockholders to elect their preferred form of consideration is set for 5:00 p.m. Eastern Time on August 26, 2025 [2]. - Stockholders can choose to receive either $41.00 in cash, 1.14 shares of TowneBank common stock, or a combination of both for each share of Old Point common stock [3]. Group 2: Election Process - To make a valid election, stockholders must submit a completed election form and any required documents to Computershare Trust Company, N.A. before the election deadline [4]. - Stockholders who do not make a proper election by the deadline will have no control over the type of consideration they receive, which may include cash, shares of TowneBank common stock, or a combination thereof [5]. Group 3: Company Background - TowneBank, founded in 1999, offers a full range of banking and financial services, with total assets of $18.26 billion as of June 30, 2025, making it one of the largest banks headquartered in Virginia [10]. - Old Point Financial Corporation operates through The Old Point National Bank of Phoebus and offers a variety of retail and commercial financial services, including mortgage and insurance products [11].