Date of Report (Date of earliest event reported):  August 28, 2023

PB Bankshares, Inc.
(Exact Name of Registrant as Specified in Charter)

(State or Other Jurisdiction)
(Commission File No.)
(I.R.S. Employer
of Incorporation)
Identification No.)
185 East Lincoln Highway, Coatesville, Pennsylvania
(Address of Principal Executive Offices)
(Zip Code)

Registrant's telephone number, including area code: (610) 384-8282

Not Applicable
(Former name or former address, if changed since last report)

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):

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 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class
Name of each exchange on which registered
Common Stock, par value $0.01
The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 8.01.  Other Events
On August 3, 2022, the Board of Directors of PB Bankshares, Inc. (the “Company”) adopted a stock repurchase program.  Under the repurchase program, the Company was authorized to repurchase up to 277,725 shares of its common stock, or approximately 10.0% of the then outstanding shares. The repurchase program was to expire on August 1, 2023, unless extended by the Board of Directors. To date, the Company has repurchased 133,162 shares of its common stock at an average price of $13.35 per share.
Effective August 28, 2023, the Board of Directors of the Company extended the stock repurchase program to allow the Company to repurchase the remaining 144,563 shares, or 5.3%, of the current outstanding shares of Company common stock. The repurchase program now has no end date.
Shares may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.

Repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company’s financial performance.  Open market purchases will be subject to the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission and other applicable legal requirements.

The timing and amount of share repurchases under the repurchase program may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.


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.

DATE: August 31, 2023
 /s/ Lindsay S. Bixler
Lindsay S. Bixler
Executive Vice President and Chief Financial Officer

Document and Entity Information
Aug. 28, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 28, 2023
Entity File Number 001-40612
Entity Registrant Name PB Bankshares, Inc.
Entity Central Index Key 0001849670
Entity Incorporation, State or Country Code MD
Entity Tax Identification Number 86-3947794
Entity Address, Address Line One 185 East Lincoln Highway
Entity Address, City or Town Coatesville
Entity Address, State or Province PA
Entity Address, Postal Zip Code 19320
City Area Code 610
Local Phone Number 384-8282
Title of 12(b) Security Common Stock, par value $0.01
Trading Symbol PBBK
Security Exchange Name NASDAQ
Entity Emerging Growth Company true
Entity Ex Transition Period false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false

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