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Stock impact report

PSB Holdings, Inc. Reports First Quarter 2024 Earnings of $0.39 Per Share, Tangible Net Book Value Per Share Up 8% In Past Year [Yahoo! Finance]

PSB Holdings, Inc. (Wisconsin) (PSBQ) 
Company Research Source: Yahoo! Finance
Northcentral and Southeastern Wisconsin reported first quarter earnings ending March 31, 2024 of $0.39 per common share on net income of $1.6 million, compared to $0.55 per common share on net income of $2.3 million during the fourth quarter ending December 31, 2023, and $0.67 per common share on net income of $2.9 million during the first quarter ending March 31, 2023. PSB's first quarter 2024 operating results reflected the following changes from the fourth quarter of 2023: (1) lower net interest income as deposit and FHLB borrowing costs rose faster than interest income on loans; (2) lower non-interest income due primarily to the sale of investment securities at a loss with the proceeds reinvested into higher yielding investments; (3) higher non-interest expense related to annual salary increases in the first quarter and a reduction in vesting of incentives and benefits recorded in the prior quarter; (4) stronger capital ratios supported by additional earnings and slightly lower Show less Read more
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