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):  January 2, 2015
PSB HOLDINGS INC.
(Exact name of registrant as specified in its charter)
WISCONSIN		0-26480	39-1804877
(State or other		(Commission File	(IRS Employer
jurisdiction of		Number)	Identification
incorporation)			Number)
1905 STEWART AVENUE
WAUSAU, WI  54401
(Address of principal executive offices, including Zip Code)
(715) 842-2191
Registrant’s telephone number, including area code
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 23.425)
£	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))

INFORMATION TO BE INCLUDED IN THE REPORT

Section 5 – Corporate Governance and Management

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Restricted Stock Plan

On January 2, 2015, the Board of Directors of PSB Holdings, Inc. awarded grants of restricted stock to Peter W. Knitt (845 shares) and Scott M. Cattanach (986 shares). These grants vest at a rate of 20% per year beginning on the second anniversary of the date of grant.

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 HOLDINGS, INC.

Date:  January 8, 2015

By:  SCOTT M. CATTANACH

Scott M. Cattanach

Treasurer

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