SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 Current Report
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported): July 4, 2006


                               PSB Holdings, Inc.
                               -----------------
             (Exact name of registrant as specified in its charter)


         Federal                           0-50970                42-1597948
- ------------------------------     -----------------------    -----------------
      (State or other              (Commission File Number)  (I.R.S. Employer
jurisdiction of incorporation)                               Identification No.)



40  Main Street, Putnam, Connecticut                         06260
- ------------------------------------                      -----------
(Address of principal executive offices)                  (Zip Code)


                                 (860) 928-6501
                                 ---------------
              (Registrant's telephone number, including area code)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ] Written communications  pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[  ] Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
     CFR 240.14a-12)

[  ] Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
     Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
     Exchange Act (17 CRF 240.13e-4(c))





Item 8.01.        Other Events.
                  --------------

     On July 4, 2006, Mr. A. Leon Archambault,  a Director of PSB Holdings, Inc.
(the  "Company")  and its wholly  owned  subsidiary,  Putnam  Savings  Bank (the
"Bank"), passed away. Mr. Archambault was the former President and owner of J.A.
Archambault & Son, Inc. an insurance agency located in Putnam,  Connecticut.  He
had served as a Director  of the Bank  since 1985 and of the  Company  since its
inception in 2003.

Item 9.01.        Financial Statements and Exhibits.
                  ---------------------------------

     (a)  Not Applicable.

     (b)  Not Applicable.

     (c)  Not Applicable.

     (d)  Not Applicable.











                                    SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                             PSB HOLDINGS, INC.

Dated:  July 10, 2006                        By: /s/ Thomas A. Borner
                                                 --------------------
                                                 Thomas A. Borner
                                                 Chairman of the Board and
                                                 Chief Executive Officer
                                                (Duly authorized representative)