MADISON HEIGHTS, Mich., May 15, 2007 (PRIME NEWSWIRE) -- Peoples State Bank (a subsidiary of PSB Group, Inc. (OTCBB:PSBG)) announced the hiring and appointment of Robert E. Buchanan as Vice President, and Bank Secrecy Act Officer. The announcement was made by Michael J. Tierney, President and CEO.
Robert E. Buchanan, an Oakland County resident, will be responsible for Anti-Money Laundering and Bank Secrecy Act Compliance for PSB Group, Inc., reporting to the Audit Committee of the Board of Directors. Prior to joining Peoples State Bank, Mr. Buchanan was employed with Comerica Inc. for 35 years. Mr. Buchanan is past president and board member of the North Oakland YMCA. He previously served as a committee member for the Boy Scouts of America in Oakland County.
Peoples State Bank, a locally owned community bank founded in 1909, is a subsidiary of PSB Group, Inc., a bank holding company. The bank currently serves southeastern Michigan with 12 offices in Farmington Hills, Fenton, Grosse Pointe Woods, Hamtramck, Madison Heights, St. Clair Shores, Southfield, Sterling Heights, Troy and Warren. Total assets of the bank as of March 31, 2007 exceeded $500,000,000.
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