PSB GROUP, INC. ANNOUNCES                                           EXHIBIT 99.1

FIRST-QUARTER EARNINGS

Madison Heights, MI. April 19, 2006 - 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, today announced net
income for the first quarter of 2006 was $735,000 or $.24 per average
outstanding share, compared to $887,000, or $.29 per average outstanding share
in the first quarter of 2005.

     Total assets as of March 31, 2006 were $495,428,000 compared to
$477,908,000 on March 31, 2005. The lending portfolio totaled $371,371,000 as of
March 31, 2006 compared to $341,497,000 at March 31, 2005. Deposits totaled
$436,821,000 on March 31, 2006 compared to $419,427,000 at the same time 2005.

     Robert L. Cole, President and Chief Executive Officer, commenting on
first-quarter earnings in 2006 when compared to the same period in 2005, stated
"Increased operational and staffing expenses in the amount of $366,000 that are
associated with the cost of opening two new full-service banking centers by
Peoples State Bank last year, development costs for a new banking center to be
constructed in Troy during 2006, and costs related to the acquisition of Nations
One Mortgage by Universal Mortgage Corporation, all contributed to downward
pressure on earnings in the first-quarter of this year."

     Cole went on to say "Peoples State Bank has been considerably more
aggressive in marketing and advertising this year, which achieved an increase in
new account growth, as well as improved brand recognition in our market area,
but the associated expenses are $137,000 higher than they were for the same
period of time in 2005." Cole also noted that "Low-yield securities were sold at
a short-term, $54,000 upfront loss during the first-quarter of 2006;
higher-yield securities that were purchased to replace them should break-even
during the second-quarter and are expected to provide a positive contribution to
earnings beginning in the


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third-quarter."

     PSB Group, Inc. is a registered holding company. Its primary 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; in addition to a commercial loan production 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,
Troy and Warren.

     Except for the historical information contained herein, the matters
discussed in the Release may be deemed forward-looking statements that involve
risk and uncertainties. Words or phrases "will likely result", "are expected
to", "will continue", "is anticipated", "estimate", "project", or similar
expressions are intended to identify "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. Factors which
could cause actual results to differ, include, but are not limited to,
fluctuations in interest rates, changes in economic conditions of the Bank's
market area, changes in policies by regulatory agencies, the acceptance of new
products, the impact of competitive products and pricing and the other risks
detailed from time to time in the Bank's and Corporation's reports. These
forward-looking statements represent the Bank's judgment as of the date of this
report. The Bank disclaims, however, any intent or obligation to update these
forward-looking statements.

Contact: David A. Wilson
         Senior Vice President & CFO
         (248) 548-2900


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