PB Bankshares Inc 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscalyear endedDecember 31,2024OR☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For The Transition Period FromToCommission file number:001-40612 PB BANKSHARES,INC.(Exact name of registrant as specified in its charter) 86-3947794 Maryland(State of Other Jurisdiction of incorporation or Securities registered pursuant to Section12(b)of the Act: Name Of Each Exchange The NasdaqStock Market, LLC Securities registered pursuant to Section12(g)of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.Yes☐No⌧ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes☐No⌧ Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past90days.Yes⌧No☐ Indicate by check mark whether the Registrant has submitted electronically; every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T(§232.0405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes⌧No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 ofthe Exchange Act. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler⌧Smallerreportingcompany☒Emerginggrowthcompany☒ 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 revisedfinancial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section404(b)of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No⌧ The aggregate value of the voting and non-voting common stock held by non-affiliates of the registrant, computed by reference to the closing price of the commonstock as of June 30, 2024 was $28,484,000. As of March 26, 2025 there were2,552,115shares outstanding of the registrant’s common stock. Documents Incorporated by Reference Portions of the Proxy Statement for the 2025 Annual Meeting of Stockholders are incorporated by reference in Part III of this Form 10-K. TABLE OF CONTENTS PagePART IItem 1. Business5Item 1A. Risk Factors32Item 1B. Unresolved Staff Comments32Item 1C. Cybersecurity32Item 2. Properties33Item 3. Legal Proceedings34Item 4. Mine Safety Disclosures34PART IIItem 5. Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities34Item 6. Reserved35Item 7. Management’s Discussion and Analysis of Financial Condition and Results ofOperations35Item 7A. Quantitative and Qualitative Disclosures About Market Risk46Item 8. Financial Statements and Supplementary Data47Item 9. Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure92Item 9A. Controls and Procedures92Item 9B. Other Information93Item 9C Disclosures Regarding Foreign Jurisdictions that Prevent Inspections93PART IIIItem 10. Directors, Executive Officers and Corporate Governance93Item 11. Executive Compensation93Item 12. Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters94Item 13. Certain Relationships and Related Transactions, and Director Independence94Item 14. Principal Accountant Fees and Services95PART IVItem 15. Exhibits and Financial Statement Schedules95Item 16. Form10-K Summary97 CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K contains forw