PSB HOLDINGS, INC. ACQUISITION OF MARATHON STATE BANK (Tables)

9 Months Ended

Sep. 30, 2012

Psb Holdings Inc. Acquisition Of Marathon State Bank Tables

Schedule of Acquisition

Cash purchase price	$	5,505
Fair value of assets acquired:
Cash and due from banks		20,392
Securities available for sale		50,547
Loans receivable		23,760
Short-term commercial paper and bankers’ acceptances		11,713
Foreclosed assets		—
Premises and equipment		402
Core deposit intangible		—
Accrued interest receivable and other assets		550
Total fair value of assets acquired		107,364
Fair value of liabilities assumed:
Non-interest bearing deposits		23,255
Interest-bearing deposits		77,611
Accrued interest payable and other liabilities		142
Total fair value of liabilities assumed		101,008
Fair value of net assets acquired		6,356
Gain on bargain purchase	$	851

Pro Forma Summary Financial Information Including Acquisition of Marathon State Bank

Pro forma combined results of operations as if the combination occurred at the beginning of the quarterly and year to date periods ended September 30, 2012:

	Quarter ended September 30, 2012 (pro forma combined at beginning of period)
	Net interest		Noninterest		Net			Earnings
($000s)	income		income		income			per share
PSB Holdings, Inc.	$	4,813	$	1,436	$	1,358		$	0.82
Marathon State Bank		350		8		(132	)		(0.08	)
Pro forma Totals	$	5,163	$	1,444	$	1,226		$	0.74

	Nine months ended September 30, 2012 (pro forma combined at beginning of period)
	Net interest		Noninterest		Net		Earnings
($000s)	income		income		income		per share
PSB Holdings, Inc.	$	14,376	$	4,147	$	3,902	$	2.35
Marathon State Bank		1,158		880		468		0.28
Pro forma Totals	$	15,534	$	5,027	$	4,370	$	2.63

Pro forma combined results of operations as if the combination occurred at the beginning of the quarterly and year to date periods ended September 30, 2011:

	Quarter ended September 30, 2011 (pro forma combined at beginning of period)
	Net interest		Noninterest		Net		Earnings
($000s)	income		income		income		per share
PSB Holdings, Inc.	$	4,867	$	1,367	$	1,394	$	0.84
Marathon State Bank		437		9		122		0.08
Pro forma Totals	$	5,304	$	1,376	$	1,516	$	0.92

	Nine months ended September 30, 2011 (pro forma combined at beginning of period)
	Net interest		Noninterest		Net		Earnings
($000s)	income		income		income		per share
PSB Holdings, Inc.	$	14,497	$	3,961	$	3,905	$	2.36
Marathon State Bank		1,316		35		411		0.25
Pro forma Totals	$	15,813	$	3,996	$	4,316	$	2.61