Joseph Stilwell and related investment vehicles reported a smaller stake in Poage Bankshares Inc. common shares.

The investor reported shares representing a 5.9% stake in the Ashland, Ky.-based company, down from the 7.9% stake in July, based on 3,497,243 outstanding common shares reported as of May 14.

Stilwell reported owning 205,112 shares in an ownership filing made Aug. 14, compared with beneficial ownership of 274,971 shares in July.

The investor group said Stilwell Value Partners VII LP sold a total of 16,935 shares from July 27 to Aug. 14 at per-share prices ranging from $26.03 to $26.49, and Stilwell Activist Fund LP sold a total of 5,848 shares from Aug. 1 to Aug. 14 at per-share prices ranging from $26.04 to $26.39.

From July 30 to Aug. 14, Stilwell Activist Investments LP sold a total of 43,936 shares at per-share prices ranging from $26.04 to $26.47. Stilwell Partners LP sold a total of 3,140 shares from Aug. 7 to Aug. 14 at per-share prices ranging from $26.04 to $26.39.