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]

Core Viewpoint - PSB Holdings, Inc. has declared a semi-annual cash dividend of $0.34 per share, marking a 6.3% increase from the previous year, and will transition to quarterly dividends starting in 2026 [1][2]. Group 1: Dividend Announcement - The Board of Directors declared a cash dividend of $0.34 per share, which is a 6.3% increase compared to the same period last year [1]. - The dividend is payable on January 30, 2026, to shareholders of record as of January 12, 2026 [1]. - This marks the continuation of a 61-year tradition of cash dividends, including 32 consecutive years of increased dividends per share [1]. Group 2: Company Overview - PSB Holdings, Inc. is the parent company of Peoples State Bank, a community bank based in Wausau, Wisconsin, serving various regions in the state [2]. - The bank operates twelve full-service locations and offers investment, insurance products, and retirement planning services through its division, Peoples Wealth Management [2]. - PSB Holdings, Inc. is traded under the stock symbol PSBQ on the OTCQX Market [2].

Core Insights - Trucordia, a US-based insurance brokerage, has acquired Global Financial & Insurance Services, expanding its footprint in the insurance and financial services sector [1] - The financial details of the acquisition remain undisclosed, but it enhances Trucordia's service offerings across all 50 US states [1][4] - This acquisition aligns with Trucordia's strategy to build a platform of insurance businesses and financial service providers, ensuring local expertise is supported by national resources [4] Company Overview - Global Financial & Insurance Services, founded by Amin Chagani, offers a wide range of insurance products including auto, commercial vehicle, home, liability, life, property cover, surety bonds, umbrella policies, and workers' compensation [2] - The company also provides specialized coverage options for various industries such as gas stations, hotels, aviation, and education [2] Financial Services - In addition to insurance, Global Financial & Insurance Services offers financial services including retirement planning, tax considerations, debt management guidance, asset protection, and legacy planning [3] - The company provides bilingual support to cater to diverse client needs [3] Strategic Implications - The acquisition of Global Financial & Insurance Services allows Trucordia to extend its operations into the southwestern region of the US, broadening its specialist benefits solutions [5] - This follows Trucordia's earlier acquisition of Vegas Valley Benefit Plans, which serves clients in southern Nevada with various employee benefits products [5]

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].