PSB Holdings Q2 EPS Falls to $0.81, Merger with Bank First on Track for Early Q4
PSBQ has more than doubled off its 52-week low of $23.05 on light trading volume (0.2× avg).
Summary
PSB Holdings reported Q2 EPS of $0.81, down from the prior year, with net income declining to $3.40 million. Net interest income rose to $12.14 million, supported by higher loan balances and yields, but noninterest income fell due to lower commissions and the absence of one-off gains. Operating costs declined from staff reductions, partially offset by merger-related expenses. The company expects its merger with Bank First to close in early Q4, pending approvals. The stock is trading near its 52-week high, so the earnings decline may pressure valuation.
At the time of this announcement, PSBQ was trading at $51.00 on OTC in the Finance sector, with a market capitalization of approximately $214.6M. The 52-week trading range was $23.05 to $52.35. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.