MADISON HEIGHTS, Mich., April 21, 2006 (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.
PSB Group, Inc. will pay the second-quarter cash dividend to shareholders of record at the end of business on June 1, 2006. Shareholders will receive their dividend on June 14, 2006. As of March 31, 2006 there were 3,029,152 common shares outstanding.
PSB Group, Inc. is a registered holding company with over $495,000,000 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, with a new office scheduled to open in the city of Troy (fall of 2006). Peoples State Bank also operates a commercial lending office in Mt. Clemens. 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.