-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TH/S6hpk8y3fnty9y4ltA/bvyBSvenXuuNHlp7aIuvs9zIuUEgnQLDI0QQluu/9j
 N7Io+K2c3yjJM4a3sNCaOA==

<SEC-DOCUMENT>0001181431-10-007692.txt : 20100209
<SEC-HEADER>0001181431-10-007692.hdr.sgml : 20100209
<ACCEPTANCE-DATETIME>20100209160015
ACCESSION NUMBER:		0001181431-10-007692
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20100209
DATE AS OF CHANGE:		20100209
EFFECTIVENESS DATE:		20100209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PSB BANCGROUP INC
		CENTRAL INDEX KEY:			0001052634
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				593454146
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-138599
		FILM NUMBER:		10584400

	BUSINESS ADDRESS:	
		STREET 1:		220 SOUTH FIRST STREET
		CITY:			LAKE CITY
		STATE:			FL
		ZIP:			32025
		BUSINESS PHONE:		9047540002

	MAIL ADDRESS:	
		STREET 1:		220 SOUTH FIRST STREET
		CITY:			LAKE CITY
		STATE:			FL
		ZIP:			32025
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001052634</cik>
        <entityName>PSB BANCGROUP INC</entityName>
        <issuerAddress>
            <street1>350 Southwest Main Boulevard</street1>
            <city>Lake City</city>
            <stateOrCountry>FL</stateOrCountry>
            <zipCode>32025</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>386-754-0002</issuerPhoneNumber>
        <jurisdictionOfInc>FLORIDA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Samuel</firstName>
                <middleName>Ford</middleName>
                <lastName>Brewer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>349 SW Montgomery Drive</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32025</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>W</middleName>
                <lastName>Burns</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>234 SW Main Boulevard</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32025</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Robert</firstName>
                <middleName>M</middleName>
                <lastName>Eadie</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>250 NW Railroad Street</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32055</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Shilpa</firstName>
                <middleName>U</middleName>
                <lastName>Mhatre</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>165 SW Vision Glen</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32025</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alton</firstName>
                <middleName>C</middleName>
                <lastName>Milton</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 2063</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32056</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <middleName>T</middleName>
                <lastName>Moore</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2588 W. Highway 90</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32055</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thomas</firstName>
                <middleName>M</middleName>
                <lastName>Riherd</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>333 NW 2nd Street</street1>
                <city>Lake Butler</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32054</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Cecelia</firstName>
                <middleName>L</middleName>
                <lastName>Cothran</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>350 SW Main Boulevard</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32025</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Christopher</firstName>
                <middleName>H</middleName>
                <lastName>Dampier</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>350 SW Main Boulevard</street1>
                <city>Lake City</city>
                <stateOrCountry>FL</stateOrCountry>
                <zipCode>32025</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Best efforts offering by certain directors and officers.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial Banking</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$1 - $1,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-11-18</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isOptionToAcquireType>true</isOptionToAcquireType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>9999</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>2200000</totalOfferingAmount>
            <totalAmountSold>298994</totalAmountSold>
            <totalRemaining>1901006</totalRemaining>
            <clarificationOfResponse>The offering has now been completed with only a portion of the offered units being purchased</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>0</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>6</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PSB BancGroup Inc</issuerName>
                <signatureName>/Thomas M Riherd, II/</signatureName>
                <nameOfSigner>Thomas M Riherd, II</nameOfSigner>
                <signatureTitle>CEO &amp; President</signatureTitle>
                <signatureDate>2010-02-09</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----