PSB Holdings Q3 net interest income rises on lower funding costs

Overview

• US community bank's Q3 diluted EPS rose to $0.94 from $0.81 in prior quarter

• Net interest income increased quarter-over-quarter, driven by improved net interest margin

• Company expects previously announced merger with Bank First to close in December 2026

Outlook

• PSB Holdings expects to close merger with Bank First on Dec. 4, 2026

• Company says it has received all required shareholder and regulatory approvals for merger

Result Drivers

• NET INTEREST MARGIN - Co said improved net interest margin was driven by lower funding costs, including reduced deposit and FHLB advance costs

• EXPENSE REDUCTIONS - Co attributed lower noninterest expenses to decreased salary and benefit costs from staff reductions and lower incentive accruals

• MERGER PREPARATION - Co said additional efficiencies were gained in preparation for merger with Bank First, including lower merger-related expenses

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)