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PSB Holdings proposes authorized common share increase

Wausau, Wis.-based PSB Holdings Inc.'s board recommended that the company's shareholders approve a proposed increase to the number of authorized common shares of PSB to 18 million shares from 6 million at the annual shareholders meeting on April 16.

The board also recommended a proposed amendment to the company's articles of incorporation to allow for the classification, or staggering, of the company's board. The company believes board classification will allow for better board continuity, as there will always be a group of directors that has at least one year of experience with the operations of the board.