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): ~~July~~ 15September 9, 2015

PSB Holdings, Inc.

(Exact name of registrant as specified in its charter)

Federal	~~0-50970~~	420-~~1597948~~50970	42-1597948
(State or other	(Commission File Number)	(I.R.S. Employer Identification No.)
(State or Other Jurisdiction of Incorporation)		(Commission File No.)	(I.R.S. Employer Identification No.)
jurisdiction of incorporation)
40 Main Street, Putnam, Connecticut			06260
(Address of Principal Executive Offices)			(Zip Code)

40 Main Street, Putnam, Connecticut	06260
(Address of principal executive offices)	(Zip Code)

(860) 928-6501

(~~860) 928-6501 (~~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 (see General Instruction A.2. below):

☐x 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 CRF 240.13e-4(c))

~~Item~~¨ ~~8.01.~~Soliciting ~~Other~~material ~~Events~~pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

On¨ ~~July~~Pre-commencement ~~15,~~communications ~~2015,~~pursuant ~~the~~to ~~Board~~Rule ~~of Directors of PSB Holdings, Inc.~~ 14d-2(~~the “Company”~~b) ~~declared~~under ~~a cash dividend on~~ the ~~Company’s~~Exchange ~~common~~Act ~~stock~~(17 ofCFR $240.~~04 per share for the quarter ended June 30, 2015. The dividend will be payable to stockholders of record as of July 29, 2015 and will be paid on August 12, 2015.~~14d-2(b))

~~Item~~¨ ~~9.01.~~Pre-commencement ~~Financial~~communications ~~Statements~~pursuant ~~and~~to ~~Exhibits~~Rule 13e-4(c) under the Exchange Act (17 CRF 240.13e-4(c))

~~Not~~Item ~~applicable~~8.01 Other Events

~~SIGNATURE~~On September 9, 2015, the Boards of Directors of Putnam Bancorp, MHC (the “Mutual Holding Company”), PSB Holdings, Inc. (the “Company”) and Putnam Bank (the “Bank”) each adopted a Plan of Conversion and Reorganization of the Mutual Holding Company (the “Plan”) pursuant to which the Mutual Holding Company will undertake a “second-step” conversion and cease to exist. The Bank will reorganize from a two-tier mutual holding company structure to a fully public stock holding company structure. The Mutual Holding Company currently owns approximately 57.0% of the shares of common stock of the Company.

Pursuant to the ~~requirements~~Plan, of(i) the ~~Securities~~Bank will ~~Exchange~~become ~~Act~~a wholly owned subsidiary of ~~1934~~a Maryland stock corporation (the “New Holding Company”), (ii) the ~~registrant~~shares ~~has~~of ~~duly~~common stock ~~caused~~of ~~this~~the ~~report~~Company toheld by persons other than the Mutual Holding Company (whose shares will be ~~signed~~canceled) onwill ~~its~~be ~~behalf~~converted into shares of common stock of the New Holding Company pursuant to an exchange ratio designed to preserve the percentage ownership interests of such persons (excluding shares purchased in the stock offering described below and cash received in lieu of fractional shares, and as adjusted to reflect certain assets held by the ~~undersigned~~Mutual Holding Company), ~~hereunto~~and ~~duly~~(iii) ~~authorized~~the New Holding Company will offer and sell shares of common stock representing the ownership interest of the Mutual Holding Company in a subscription offering. The Plan is subject to regulatory approval as well as the approval of the depositors of the Bank, the corporators of the Mutual Holding Company and the Company’s stockholders (including the approval of a majority of the Company’s outstanding shares of common stock held by persons other than the Mutual Holding Company).

	PSB HOLDINGS, INC.
Dated: July 15, 2015	By:	/s/ Thomas A. Borner
		Thomas A. BornerPresident and Chief Executive Officer

Shares not subscribed for in the subscription offering would be available for sale in a community offering and, if necessary, in a syndicated community offering. The number and price of shares to be sold in the offering and the exchange ratio for current stockholders of the Company will be based on an independent appraisal.

The foregoing summary of the Plan is not complete and is qualified in its entirety by reference to the complete text of the Plan, which is filed as Exhibit 2.1 to this Form 8-K and which is incorporated herein by reference.

The Company announced the adoption of the Plan in a press release dated September 9, 2015. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(a)

Not Applicable.

(b)

Not Applicable.

(c)

Not Applicable.

(d)

Exhibits.

Exhibit No.		Description

2.1		Plan of Conversion and Reorganization of Putnam Bancorp, MHC, dated September 9, 2015

99.1		Press Release dated September 9, 2015

SIGNATURE

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: September 9, 2015	By:	/s/ Robert J. Halloran, Jr.
		Robert J. Halloran, Jr.
		Executive Vice President and Chief Financial Officer

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