PB Bankshares subsidiary sells vacant branch-adjacent land for $950,000

PB Bankshares, Inc.

Presence Bank, a wholly owned subsidiary of PB Bankshares, agreed to sell vacant land at 691 W. Main Street, New Holland, PA.
Purchase price of $950,000; closing expected by October 1, 2024, subject to standard closing conditions.
Buyer is Ferfeldt Investments LLC; property consists of approximately 1.2 acres adjacent to an existing branch.
The land is currently vacant and non-income producing; proceeds will be received in cash at closing.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PB Bankshares, Inc. entered into Agreement with Ferfeldt Investments LLC. valued at $950,000 (effective 2024-02-21).

Action: entry
Agreement: asset purchase
Counterparty: Ferfeldt Investments LLC.
Value: $950,000
Effective: 2024-02-21

Exact text from the filing

On February 21, 2024, Presence Bank (the “Bank”), a wholly owned subsidiary of PB Bankshares, Inc. entered into a Purchase and Sale Agreement (the “Agreement”) with Ferfeldt Investments LLC., a Florida limited liability company (the “Buyer”), to sell vacant land adjoined to the Bank’s branch at 691 W. Main Street, New Holland, Pennsylvania.

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Source: SEC EDGAR

accession 0000943374-24-000088

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