Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 1, 2012, subject to regulatory non-objection, the Boards of Directors of PSB Holdings, Inc. (the "Company") and its wholly-owned subsidiary, Putnam Bank (the "Bank"), appointed Chairman of the Board and Chief Executive Officer Thomas A. Borner as President and Chief Executive Officer of the Company and the Bank. In connection with this appointment, the Boards of Directors appointed Director Charles H. Puffer as Chairman of the Board, and Mr. Borner will serve as Vice Chairman of the Board. In addition, President and Chief Financial Officer Robert J. Halloran, Jr. will serve as Executive Vice President, Treasurer and Chief Financial Officer.

Information with respect to Mr. Borner, including his age and his business experience, as well as the benefit plans in which he participates, can be found in the Company's definitive proxy statement for the 2011 annual meeting of stockholders, as filed with the Securities and Exchange Commission on September 29, 2011.

Item 9.01. Financial Statements and Exhibits

None.

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