$PFSB

PFS Bancorp, Inc.

CIK:0001967656|SEC Filings

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and Dividend Income
Loans, including fees	$ 1,599	$ 1,417	$ 3,145	$ 2,733
Taxable	410	449	822	864
Tax-exempt	129	134	259	269
Dividends	4	4	10	11
Other	215	254	416	502
Total interest and dividend income	2,357	2,258	4,652	4,379
Interest Expense
Deposits	772	813	1,578	1,626
Net Interest Income	1,585	1,445	3,074	2,753
Provision for Credit Losses	25	57	40	113
Net Interest Income After Provision for Credit Losses	1,560	1,388	3,034	2,640
Noninterest Income
Loan servicing fees	13	15	26	30
Other	31	59	64	90
Total noninterest income	174	199	338	350
Noninterest Expense
Salaries and employee benefits	676	562	1,349	1,118
Occupancy	73	73	154	162
Depreciation	30	33	61	67
Data processing	142	106	253	252
Professional fees	138	111	234	198
Marketing	42	47	80	83
Printing and office supplies	22	29	48	41
Deposit insurance premiums	53	40	91	80
Other	59	34	209	69
Total noninterest expense	1,235	1,035	2,479	2,070
Income Before Income Taxes	499	552	893	920
Provision for Income Taxes	62	114	138	197
Net Income	$ 437	$ 438	$ 755	$ 723
Earning per share (basic) (in dollar per share)	$ 0.29	$ 0.28	$ 0.5	$ 0.46
Weighted-average shares outstanding (basic) (in shares)	1,512,409	1,553,758	1,512,664	1,566,621
Earning per share (diluted) (in dollar per share)	$ 0.28	$ 0.28	$ 0.49	$ 0.46
Weighted-average shares outstanding (diluted) (in shares)	1,552,592	1,553,758	1,547,744	1,566,621
Commission income
Noninterest Income
Revenue	$ 7	$ 7	$ 10	$ 10
Customer service fees
Noninterest Income
Revenue	122	116	235	217
Net realized gain on loan sales
Noninterest Income
Revenue	$ 1	$ 2	$ 3	$ 3

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 755	$ 723
Items not requiring (providing) cash:
Depreciation	61	67
Provision for credit losses	40	113
Amortization (Accretion) of premiums and discounts on debt securities	(63)	18
Deferred income taxes	(110)	60
Change in fair value of equity securities	131	(26)
Net realized (gain) loss on loan sales	(3)	(3)
Earnings on cash surrender value of life insurance	(56)	(52)
Stock-based compensation expense	80
ESOP compensation expense	47	28
Interest receivable	33	(45)
Other assets	(33)	38
Interest payable and other liabilities	(282)	28
Net cash provided by operating activities	600	949
Investing Activities
Purchases of available-for-sale debt securities	(506)	(7,089)
Proceeds from maturities of available-for-sale debt securities	3,903	3,989
Proceeds from maturities of held-to-maturity debt securities	1,995	1,272
Net change in loans	(2,708)	(9,368)
Purchase of premises and equipment	(73)	(15)
Purchase of FHLB Stock	(21)	(7)
Net cash provided (used) in investing activities	2,590	(11,218)
Financing Activities
Net increase (decrease) in demand deposits, money market, NOW and savings accounts	3,683	4,661
Net increase (decrease) in time deposits	(2,660)	4,489
Proceeds from exercise of stock options net of shares surrendered in payment	18
Purchase of treasury stock	(252)	(648)
Net cash provided by financing activities	789	8,502
Increase (Decrease) in Cash and Cash Equivalents	3,979	(1,767)
Cash and Cash Equivalents, Beginning of Year	15,494	16,256
Cash and Cash Equivalents, End of Year	19,473	14,489
Supplemental Cash Flows Information
Interest paid	1,573	1,632
Income taxes paid	$ 545	$ 213

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents - cash and due from bank	$ 19,473	$ 15,494
Available-for-sale debt securities (net of credit losses of $0 at June 30, 2026 and December 31, 2025, respectively, amortized cost of $65,612 and $68,943 at June 30, 2026 and December 31, 2025, respectively)	63,160	66,930
Held-to-maturity debt securities (net of allowance for credit losses of $0 as of June 30, 2026 and December 31, 2025)	4,207	6,205
Equity securities	277	408
Loans, net of allowance for credit losses of $860 and $842 at June 30, 2026 and December 31, 2025	111,560	108,869
Premises and equipment, net of accumulated depreciation of $3,003_ and $2,941 at June 30, 2026 and December 31, 2025	2,004	1,992
Federal Home Loan Bank stock	375	354
Interest receivable	724	757
Cash surrender value of bank-owned life insurance	4,142	4,086
Deferred income taxes	1,292	1,057
Mortgage servicing rights	208	208
Other	584	551
Total assets	208,006	206,911
Deposits
Demand	18,492	18,783
Savings, NOW and money market	76,645	72,671
Time	72,364	75,024
Total deposits	167,501	166,478
Deferred compensation	737	691
Income tax payable		341
Interest payable and other liabilities	381	348
Total liabilities	168,619	167,858
Stockholders' Equity
Preferred Stock, $0.01 par value, 1,000,000 shares authorized, none issued
Common Stock, $0.01 par value, 14,000,000 shares authorized, 1,735,649 issued, 1,557,237 and 1,562,319 outstanding at June 30, 2026 and December 31, 2025	17	17
Additional Paid in Capital	15,823	15,705
Unallocated common stock of ESOP	(1,187)	(1,214)
Treasury stock - 178,412 shares at June 30, 2026 and 162,681 shares at December 31, 2025	(2,040)	(1,788)
Deferred compensation liability - 40,000 shares held in trust at June 30, 2026 and December 31, 2025	400	400
Retained earnings	28,127	27,372
Accumulated other comprehensive (loss)	(1,753)	(1,439)
Total stockholders' equity	39,387	39,053
Total liabilities and stockholders' equity	$ 208,006	$ 206,911