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Press release content from Globe Newswire. The AP news staff was not involved in its creation. PSB Holdings, Inc. Announces Agreement to Merge with Waukesha Bankshares, Inc. and Sunset Bank . PSB Holdings, Inc.December 16, 2020 GMT WAUSAU, Wis., Dec. 16, 2020 (GLOBE NEWSWIRE) PSB Holdings, Inc. (OTCQX: PSBQ) (“PSB Holdings”), parent company of Peoples State Bank (“Peoples”), Wausau, Wisconsin, and Waukesha Bankshares, Inc. (“WBI”), parent company of Sunset Bank & Savings (“Sunset”), today jointly announced the execution of an Agreement and Plan to Merge in a cash transaction whereby PSB will acquire WBI and Sunset. Under the terms of the merger agreement, WBI (as the sole shareholder of Sunset) will receive approximately $9.6 million in cash, subject to adjustment as set forth in the merger agreement, for all outstanding common stock.

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