SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): February 5, 2008
(February 1, 2008)
PSB GROUP, INC.
(Exact name of registrant as specified in its charter)
Michigan 000-50301 42-1591104
(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
1800 East Twelve Mile Road, Madison Heights, Michigan 48071
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (248) 548-2900
Not Applicable
(Former name or former address, if changed since last report.)
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:
[ ] 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 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS
On February 1, 2008, PSB Group, Inc. (the "Company") announced that its
board of directors has declared the payment of a quarterly cash dividend of
$0.04 per share to shareholders of record at the close of business on February
29, 2008. The dividend will be paid on March 14, 2008. In addition, the Company
announced that Peoples State Bank (the "Bank"), the wholly-owned subsidiary of
the Company has entered into a memorandum of understanding ("MOU") with the
Michigan Office of Financial and Insurance Services (the "OFIS") and the Federal
Deposit Insurance Corporation (the "FDIC"). The MOU, which relates primarily to
the Bank's asset quality and loan loss reserves, among other things, requires
that the Bank maintain its Tier 1 capital to Assets ratio at not less than 8%
and that prior to declaring or paying and dividend to the Company, the Bank must
obtain the prior written consent of the OFIS and the FDIC.
A copy of the Company's press release is attached hereto as Exhibit 99.1
and is incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
Exhibit Number
99.1 Press Release, dated February 1, 2008 issued by PSB Group, Inc.
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SIGNATURES
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 GROUP, INC.
Dated: February 5, 2008 By: /s/ Michael J. Tierney
------------------------------------
Michael J. Tierney
President and Chief Executive
Officer
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release, dated February 1, 2008 issued by PSB Group, Inc.
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