Investor Relations

Dear Stockholder,

We are pleased to announce PSB Holding Corp.’s unaudited financial results as of March 31, 2018. We continue to make great strides in delivering on the Bank’s strategic plan to increase total assets and expand our branch footprint. Below captures some of these achievements. 


Key Financial Indicators as of March 31, 2018 

 Total assets have increased to $422 million from the YE 2017 level of $408 million 

 After-tax net income was $883 thousand compared to $572 thousand as of 3/31/17 

 Gains in deposit market share were accomplished in all counties in which we do business 

 Our new Harrison Street branch has already recorded deposits in excess of $14 million 

 The Bank’s loan loss reserve has increased to 0.97% from the YE 2017 level of 0.91% 

 All Other Real Estate Owned properties have been liquidated 

 Troubled assets remain at historical low levels 


We are pleased to report the most recent private stock trade per share was $56.00. As of March 31, 2018, the book value per share increased to $58.54 and earnings per share (unaudited and annualized) was $6.30, an increase from the 2017 YE level of $3.55. Although greatly improving, our stock price is still well below national bank trading multiples of Price/Tangible Book value and Price/Long term Earnings per Share of 200.9% and 18.3X, respectively. (Source S&P Global Market Intelligence as of 2/05/2018.) The Provident team continues to work diligently on opening our ninth branch in Wicomico County by early 2019. In 2018, we will continue to implement several new marketing initiatives that will solidify our PSB brand. 


We encourage you to visit our new PSB website (www.providentstatebank.com), which now includes an Investor Relations section that will provide quarterly financial updates. We would like to thank you, the stockholders, for your financial commitment and support of our community bank as we implement our strategic plan. Additionally, we would like to take this opportunity to thank all of our employees and directors for all of their hard work and support. 


Sincerely, 

Gregory W. Johnson, CEO

Melissa Quirk, President/COO


Reports

PSB 2017 Annual Report

PSB 2016 Annual Report


Financial Statements

March 2018

2017 Year End Financials

June 2017

September 2017