PSB Holdings Inc In Top 10%

American Banker Magazine ranked PSB Holdings Inc., the parent company of Peoples State Bank, in the top 10 percent of most profitable community banks and thrifts in the nation.

Peoples ranked 99th in 2011, up from 123rd in 2010, according to the banking industry magazine’s rankings released last week. The rankings are of publicly traded and owned banks and thrifts with less than $2 billion in assets based on a 3-year average return on equity for the three years ending Dec. 31. There were 1,012 banks that fit the criteria.

Peoples was one of four Wisconsin banks to make the list and it is the third consecutive year Peoples has been on the list.

“For over 50 years Peoples has strived to do the right things for our customers, shareholders and employees,” President and CEO of Peoples State Bank Peter Knitt said in a news release. “This commitment has set us apart from our competitors and has ranked us at the top of our peer group.”

Peoples is a community bank founded in 1962 with $611 million in total assets. Peoples has eight locations, including Wausau, Rib Mountain, Weston and Marathon.

The other Wisconsin banks on the list were Tri City Bankshares Corp. in Oak Creek, First Manitowoc Bancorp in Manitowoc, and First Menasha Bancshares in Neenah.

Wausau Daily Herald


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