MADISON HEIGHTS, Mich., Nov. 8, 2005 (PRIMEZONE) -- The Board of Directors of PSB Group, Inc. (OTCBB:PSBG), the bank holding company for Peoples State Bank, a Michigan state-chartered bank with offices in Wayne, Oakland, Macomb and Genesee Counties, declared the payment of a quarterly cash dividend of $0.18 per share to Shareholders of Common Stock. The year-to-date cash dividend payout by the Corporation now stands at $0.738 per share, compared to $0.69 twelve months prior, an increase of 6.96% in 2005. This increase reflects additional dividends due to a previous 5% stock dividend paid in June 2005.
PSB Group, Inc. will pay the fourth-quarter cash dividend to shareholders of record at the end of business on December 1, 2005. Shareholders will receive their dividend on December 15, 2005. As of October 31, 2005 there were 3,029,152 common shares outstanding.
PSB Group, Inc. is a registered holding company with over $489,000,000 in total assets. Its subsidiary, Peoples State Bank, currently serves the southeastern Michigan area with 12 full-service banking offices in Farmington Hills, Fenton, Grosse Pointe Woods, Hamtramck, Madison Heights, St. Clair Shores, Southfield, Sterling Heights and Warren. The bank has operated continuously under local ownership and management since it first opened for business in 1909.
Universal Mortgage Corporation, a wholly-owned subsidiary of Peoples State Bank, originates residential mortgage loans in the southeastern Michigan area from offices in Ann Arbor, Clinton Township, Fenton, Howell, Macomb Township, Southfield, Troy and Warren.