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PSB Holdings, Inc. will be the federally chartered mid-tier stock holding company for Putnam Savings Bank, and will continue to own 100% of the common stock of Putnam Savings Bank. PSB Holdings, Inc. will not have any other significant assets. PSB Holdings not engaged in any significant business activity other than owning the common stock of Putnam Savings Bank and investing in marketable securities, and PSB Holdings do not currently intend to do so after the stock offering.
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