OTC: PNSB

PSB Financial, Inc.

CIK 0002087419 · SIC 6036 · Savings Institutions (Not Federal)

Small by assets Assets $133M as of Aug 30, 2026

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10-Q Filed Aug 14, 2026 · Period ending Jun 30, 2026

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8-K Filed Jul 17, 2026 · Period ending Jul 14, 2026

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8-K Filed May 21, 2026 · Period ending May 21, 2026

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8-K Filed May 19, 2026 · Period ending May 19, 2026

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10-Q Filed May 15, 2026 · Period ending Mar 31, 2026

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8-K Filed Apr 29, 2026 · Period ending Apr 29, 2026

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424B3 Filed Mar 19, 2026

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S-1/A Filed Mar 10, 2026

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S-1/A Filed Feb 18, 2026

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S-1 Filed Sep 23, 2025

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Latest financial statements

From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Condensed Consolidated Statements of Operations (Unaudited)

Description Three months ended June 30, 2026 Three months ended June 30, 2025 Six months ended June 30, 2026 Six months ended June 30, 2025
Interest income:
Loans, including fees 1,311,503 1,177,341 2,594,303 2,321,963
Investment securities:
Taxable 43,562 50,976 87,795 102,708
Tax-exempt 28,715 28,068 52,377 55,100
Other 107,116 68,777 166,316 120,592
Total interest income 1,490,896 1,325,162 2,900,791 2,600,363
Interest expense:
Deposits 472,587 335,953 886,065 694,126
FHLB advances 86,983 86,956 172,983 172,956
Total interest expense 559,570 422,909 1,059,048 867,082
Net interest income 931,326 902,253 1,841,743 1,733,281
Provision for (recovery of) credit losses on loans (53,418) (11,243) (23,188) (104,378)
Provision for (recovery of) credit losses on unfunded loan commitments (266) — 18,831 —
Net interest income after provision for credit losses 985,010 913,496 1,846,100 1,837,659
Noninterest income:
Service fees 16,840 14,349 33,992 30,001
Interchange fees 29,687 33,578 61,812 87,100
Increase in cash value of life insurance 22,357 4,994 44,195 9,890
Other noninterest income 16,987 729 19,265 1,351
Total noninterest income 85,871 53,650 159,264 128,342
Noninterest expense:
Salaries and employee benefits 439,685 426,382 831,999 828,569
Occupancy 132,976 133,127 261,409 268,826
Data processing 397,261 111,134 2,213,889 220,421
Advertising 31,879 29,115 59,321 56,894
Professional fees 170,085 122,205 288,053 152,649
Directors fees 28,350 28,350 56,700 56,700
Insurance 8,400 11,595 21,246 23,184
Loan costs 20,070 11,557 36,901 29,692
ATM fee expense 3,832 19,264 20,459 30,300
Donations and contributions 11,000 16,500 27,500 33,000
Other noninterest expense 48,393 52,504 125,918 131,044
Total noninterest expense 1,291,931 961,733 3,943,395 1,831,279
Net (loss) income before income taxes (221,050) 5,413 (1,938,031) 134,722
Income tax (benefit) expense (72,637) (31,273) (527,480) 8,936
Net (loss) income (148,413) 36,686 (1,410,551) 125,786
Earnings (loss) per share:
Basic (0.09) n/a (0.89) n/a
Diluted (0.09) n/a (0.89) n/a

Condensed Consolidated Balance Sheets

Description Unaudited June 30, 2026 December 31, 2025
ASSETS
Cash and due from banks 780,129 360,992
Interest-bearing deposits 21,002,109 8,833,868
Cash and cash equivalents 21,782,238 9,194,860
Investment securities available for sale, net of allowance for credit losses of $0 at June 30, 2026 and December 31, 2025 (amortized cost of $8,794,555 and $9,095,188 at June 30, 2026 and December 31, 2025, respectively) 8,367,925 8,686,675
Investment securities held to maturity, net of allowance for credit losses of $0 at June 30, 2026 and December 31, 2025 (fair value of $1,377,371 and $1,488,818 at June 30, 2026 and December 31, 2025, respectively) 1,416,188 1,515,807
Loans, net of allowance for credit losses of $1,118,851 and $1,138,600 at June 30, 2026 and December 31, 2025, respectively 92,220,076 89,761,496
Premises and equipment, net 4,727,584 4,864,836
Other investments 739,890 728,559
Accrued interest receivable 411,118 359,568
Cash value of life insurance 2,276,540 2,232,345
Accrued income taxes receivable 46,405 46,405
Deferred tax asset 926,910 388,318
Prepaid conversion costs — 2,002,360
Other assets 334,061 219,993
Total Assets 133,248,935 120,001,222
LIABILITIES
Interest-bearing deposits 87,012,652 84,491,349
Noninterest-bearing deposits 7,683,700 8,183,958
Total deposits 94,696,352 92,675,307
Advance payments by borrowers for taxes and insurance 209,537 120,461
Federal Home Loan Bank advances 8,000,000 8,000,000
Accrued interest payable 56,742 56,633
Deferred compensation 280,754 308,622
Reserve for unfunded loan commitments 66,014 47,183
Other liabilities 702,629 319,578
Total Liabilities 104,012,028 101,527,784
SHAREHOLDERS' EQUITY
Preferred stock, $0.01 par value, 500,000 shares authorized, none issued — —
Common stock, $0.01 par value, 5,000,000 shares authorized, 1,719,250 issued and outstanding at June 30, 2026 17,193 —
Additional paid-in capital 13,535,550 —
Unallocated common stock of ESOP (1,365,375) —
Retained earnings 17,245,044 18,655,595
Accumulated other comprehensive loss (195,505) (182,157)
Total Shareholders' Equity 29,236,907 18,473,438
Total Liabilities and Shareholders' Equity 133,248,935 120,001,222

Condensed Consolidated Statements of Cash Flows (Unaudited)

Description Six months ended June 30, 2026 Six months ended June 30, 2025
Change in cash and cash equivalents:
Cash flows (used in) from operating activities:
Net (loss) income (1,410,551) 125,786
Adjustments to reconcile net income to net cash (used in) from operating activities:
Net amortization of investment securities (18,778) 25,151
Provision for (recovery of) credit losses (4,357) (104,378)
Depreciation 159,463 170,399
Net change in cash value of life insurance (44,195) (9,890)
ESOP expense 11,201 —
(Benefit from) provision for deferred income tax (533,822) 25,577
Changes in operating assets and liabilities:
Accrued interest receivable (51,550) (23,284)
Other assets 1,888,292 (62,761)
Accrued interest payable 109 (10,649)
Other liabilities 355,183 51,334
Net cash (used in) from operating activities 350,995 187,285
Cash flows (used in) from investing activities:
Proceeds from calls, paydowns, and maturities of investment securities held to maturity 99,348 156,293
Proceeds from calls, paydowns, and maturities of investment securities available for sale 319,681 302,596
Net change in other investments (11,331) 14,574
Net (increase) decrease in loans (2,435,392) 1,299,793
Purchases of premises and equipment (22,211) (29,075)
Net cash (used in) from investing activities (2,049,905) 1,744,181
Cash flows (used in) from financing activities:
Net increase (decrease) in deposits 2,021,045 752,877
Net increase in advance payments by borrowers for taxes and insurance 89,076 81,102
Gross proceeds from issuance of common stock 17,192,500 —
Stock offering costs, net (3,640,933) —
Purchase of ESOP shares (1,375,400) —
Net cash (used in) from financing activities 14,286,288 833,979
Net change in cash and cash equivalents 12,587,378 2,765,445
Cash and cash equivalents at beginning of period 9,194,860 6,433,487
Cash and cash equivalents at end of period 21,782,238 9,198,932
Supplemental cash flow information:
Cash paid during the period for:
Interest 1,058,939 877,731
Income taxes 6,343 4,000
Noncash investing and financing activities:
Change in unrealized (loss) gain on investment securities available for sale (18,117) 202,396

Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

View all filings for PNSB on SEC EDGAR