PSB Financial, Inc.

Pioneer State Bank entered into new employment and compensation arrangements with its President and CEO, Phillip K. Willett, securing his continued employment through July 14, 2029. The agreements include an annual base salary of $170,155, eligibility for a bonus pool, and significant severance and change of control benefits. A Supplemental Executive Retirement Plan (SERP) also provides an annual benefit of $150,000 upon retirement.