8-K

UNITED STATES

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):  February 27, 2023

PB Bankshares, Inc.

(Exact Name of Registrant as Specified in Charter)

Maryland	001-40612	86-3947794
(State or Other Jurisdiction of Incorporation)	(Commission File No.)	(I.R.S. Employer Identification No.)

185 East Lincoln Highway, Coatesville,  Pennsylvania	19320
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code:(610) 384-8282

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 (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 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01	PBBK	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure

On February 27, 2023, PB Bankshares, Inc. (the “Company”), parent company of Presence Bank, made available to current and prospective investors a slide presentation. The presentation materials include information regarding the Company’s operating and growth strategies and financial performance. The slide presentation is furnished in this Current Report on Form 8-K, pursuant to this Item 7.01, as Exhibit 99.1, and is incorporated herein by reference.

This Current Report and the information included below and furnished as exhibits hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.

Item 9.01 Financial Statements and Exhibits

(a)	Financial statements of businesses acquired. None.
(b)	Pro forma financial information. None.
(c)	Shell company transactions: None.
(d)	Exhibits.
	99.1	Presentation Materials of PB Bankshares, Inc.
	104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

	PB BANKSHARES, INC.
DATE: February 27, 2023	By:	/s/ Lindsay Bixler
		Lindsay Bixler
		Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

PB Bankshares, Inc December 31, 2022

2 Disclaimers This presentation does not constitute or form part of any offer or invitation to purchase any securities of PB BANKSHARES, INC in whole or in part. This presentation has been prepared by Presence Bank solely for informational purposes to assist interested parties in making their own evaluation of Presence Bank. It does not purport to contain all the information that may be relevant. In all cases, interested parties should conduct their own investigation and analysis of PB BANKSHARES, INC and the data set forth in this presentation and other information provided by or on behalf of Presence Bank is not providing you with any legal, business, tax or other advice regarding an investment in the securities. You should consult with your own advisors as needed to assist you in making your investment decision. Any securities of PB BANKSHARES, INC are not a deposit or bank account, and are not, and will not be, insured or guaranteed by the FDIC or any other federal or state government agency. This presentation may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about Presence Bank’s industry, management’s beliefs and certain assumptions made by management, many of which are by their nature inherently uncertain and beyond Presence Bank’s control. Accordingly, you are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Although Presence Bank believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements.

3 Disclaimers (continued) You should not place undue reliance on any forward-looking statement and should carefully consider the risks and other factors that Presence Bank faces, including, but not limited to (i) changes in general business, industry or economic conditions or competition; (ii) changes in any applicable law, rule, regulation, policy, guideline or practice governing or affecting financial holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise; (iii) adverse changes or conditions in capital and financial markets; (iv) the adverse impact on the U.S. economy, including the markets in which we operate, of COVID-19; (v) changes in interest rates and inflation; (vi) the inability to realize expected cost savings or achieve other anticipated benefits in connection with business combinations and other acquisitions; (vii) changes in the quality or composition of our loan and investment portfolios; (viii) adequacy of loan loss reserves; (ix) increased competition; (x) loss of certain key officers; (xi) continued relationships with major customers; (xii) deposit attrition; (xiii) rapidly changing technology; (xiv) unanticipated regulatory or judicial proceedings and liabilities and other costs; (xv) changes in the cost of funds, demand for loan products or demand for financial services; (xvi)severe weather, acts of terrorism, an outbreak of hostilities or other geopolitical events, or the anticipation of such events; (xvii) other economic, competitive, governmental or technological factors affecting our operations, markets, products, services and prices; and (xvii) our success at managing the foregoing items. Except as otherwise indicated, this presentation speaks only as of the date hereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in the affairs of Presence Bank after the date hereof. This presentation does not purport to contain all the information that may be required to evaluate the securities, and you should conduct and rely upon your own independent analysis of PB BANKSHARES, INC and the data contained or referred to herein.

4 Bank’s History 1919 ~ Presence Bank begins as the “Industrial Building and Loan Association” in Coatesville, PA. Founded by 15 individuals with approximately $200. 1926 ~ The association merges with Steel City Building and Loan and goes on to survive the 1929 stock market crash and the Great Depression. 1977 ~ After more than a half-century of successful operation in the Coatesville area, the bank opened its first branch office in New Holland, Lancaster County. 2019 ~ New management team establishes the bank’s new name and strategic direction. 2021 ~ Presence Bank (PB Bankshares, Inc. “PBBK”) successfully demutualized from a thrift to now becoming a full-service business lending bank. The stock offering enhanced our existing capital-base adding over $27 million. 2022 ~ Presence Bank received a Bauer 5-Star rating and was selected as one of the Best Places to work in Pennsylvania. 1919 1926 1977 2019 2021 2022

5 Executive Management Team 90+ Combined Years of In-Market Experience

6 Where We Compete • 10-county market throughout Central Pennsylvania. • Opened our Harrisburg and Elizabethtown loan production offices in 2021. • Added new board member, Jane Tompkins with bank examiner and Chief Credit Officer experience. • Added new board member, Bony Dawood, CEO of Dawood Engineering Inc., with a background leading his engineering company in 5 states with international operations.

7 Business Model It’s simple – we strive to provide white-glove customer service; delivering a memorable experience to locally owned and operated businesses, non-profit, and municipal customers. • We will not be everything to everyone. • We will seek to both deepen and broaden relationships while maintaining a narrowly focused delivery. • We want to attract relationships that value long term and meaningful results. We must earn the customer’s business every day, with a smile and passion like no other. Customer Types Locally Owned and Operated Businesses • Family-owned businesses • Manufacturing • Accounting firms • Medical / Dental practices • Attorneys Not-for-Profit Organizations • Charity Organizations (501-c3) • Trade Associations (501-c6) Municipalities • School Districts • Counties, Townships, & Boroughs

New Management Team – Accomplishments 8 • New branding and products including implementation of cash management services. • Implemented new health care and 401-K providers; better serving our Associates’ needs. • Enhanced oversight and focus on Diversity, Equity & Inclusion. • White-Glove high touch customer service - “We come to you” $216,885 $275,324 $314,929 $386,297 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 2019 2020 2021 2022 Total Assets (000)s At December 31 (dollars in thousands).

New Management Team Accomplishments 9 • Revamped credit underwriting process – more robust with life of loan system, creating streamlined and efficient process. • Recognizing Environmental, Social, and Governance issues with credit writeups with ongoing assessment with our bank’s operations. • Top 50 borrowers - 96% new to the bank in last 3 years. • Top 50 deposit customers – 90% new to the bank in last 3 years. $173,057 $188,899 $252,341 $304,847 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 2019 2020 2021 2022 (000)s Total Loan Growth ( g r o s s o f a llo w a n c e ) CAGR = 20.8% $168,039 $231,416 $251,130 $289,495 $100,000 $150,000 $200,000 $250,000 $300,000 2019 2020 2021 2022 (000)s Total Deposit Growth CAGR = 19.9% At December 31 (dollars in thousands).

Loan Composition 10 Management is monitoring the commercial real estate portfolio and concentration, assessing its associated risks. As part of this initiative, management is performing routine stress testing. At December 31 (dollars in thousands). $137,120 , 45% $60,578 , 20% $73,430 , 24% $33,719 , 11% 2022 - Loan Composition $305 million Commercial Real Estate (CRE) Commercial and Industrial (including Owner Occupied CRE) Residential Real Estate Other $103,778 41% $43,267 17% $79,400 32% $25,896 , 10% 2021 - Loan Composition $252 million Commercial Real Estate (CRE) Commercial and Industrial (including Owner Occupied CRE) Residential Real Estate Other

Results: 2019-2022 11 $952 $(555) $955 $2,645 $(1,000) $(500) $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2019 2020 2021 2022* (000)s Pre-Tax Income (Loss) $5,422 $6,715 $8,748 $11,037 $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 2019 2020 2021 2022 Total Assets per Full Time Equivalent Employees (000)s 1.75% 1.49% 0.66% 0.34% 0.00% 0.50% 1.00% 1.50% 2.00% 2019 2020 2021 2022 Nonaccrual Loans/Loans $1,839 $2,854 $3,145 $3,992 $1,000 $2,000 $3,000 $4,000 $5,000 2019 2020 2021 2022 Allowance for Loan Losses (000)s At December 31 (dollars in thousands). * The year ended December 31, 2022 includes a pre-tax gain on sale of land and building of $821,000.

Performance Ratios (as of and for the three months ended) 12

Performance Ratios (as of and for the three months ended) 13 Although, the accumulated other comprehensive loss was $1.9 million at December 31, 2022, the remaining weighted average life of our debt securities available for sale portfolio is 1.39 years at December 31, 2022. Dollars in thousands, except per share data.

Growing Our Greater Purpose 14 The bank’s goal is to support three (3) children’s wishes per year, one child in each of our regions. TOTAL Amount Raised to Date: $23,449

Wrap Up & Contact Info 15 THANK YOU Janak Amin President & CEO jamin@presencebank.com Direct (813) 659-6252 Presence Bank PB Bankshares, Inc [PBBK] Nasdaq 185 East Lincoln Highway Coatesville, PA 19320

XML

Document and Entity Information	Jul. 27, 2022
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Feb. 27, 2023
Entity Registrant Name	PB Bankshares, Inc.
Entity Incorporation, State or Country Code	MD
Entity File Number	001-40612
Entity Tax Identification Number	86-3947794
Entity Address, Address Line One	185 East Lincoln Highway
Entity Address, City or Town	Coatesville
Entity Address State Or Province	PA
Entity Address, Postal Zip Code	19320
City Area Code	610
Local Phone Number	384-8282
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	PBBK
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001849670
Amendment Flag	false