SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20459
SCHEDULE 13 D
Under the Securities Exchange Act of 1934
PSB Bancorp
1835 Market Street
Philadelphia, PA 19103
(215)979-7900
(Name, Address and Telephone Number of Issuing Bank)
Common Stock, $0.10 par value
(Title and Class of Securities)
693604100
(CUSIP Number)
Einar Paul Robsham
P.O. Box 5183
Cochituate, MA 01778
(508) 358-7231
(Name, Address and Telephone Number of person
authorized to receive notices and communications)
July 15, 1998 - December 31, 1998
(Dates and events which require filing of this statement)
(Continuing on following pages)
Page 1 of 4
Item 1. Security and Bank
This statement relates to 207,000 shares of the Common Stock (the "shares") o
f PSB Bancorp (the "Company").
The principal office of the company is located 1835 Market Street, Philadelph
ia, PA 19103.
Item 2. Identity and Background
The person filing this Statement is Einar Paul Robsham, current address is P.
O. Box 5183, Cochituate, MA 01778, whose principle occupation is retired. Du
ring the past five years, Einar Paul Robsham has not been convicted in a crim
inal proceeding, nor has he been party to a civil proceeding as a result of w
hich Einar Paul Robsham was or is subject to a judgment, decree or final orde
r enjoining future violations of, or prohibiting or mandating activities subj
ect to, Federal or State securities' laws or finding any violations with respect
ct to such laws. Einar Paul Robsham is a citizen of the United States of Americ
ca.
Item 3. Source and Amount of Funds or Other Consideration
The aggregate amount of funds used by Einar Paul Robsham to purchase the 207,
000 shares described in Item 1 was $1,858,301.00. All funds used to purchase
such shares were obtained from personal funds and a margin account at Advest
, Inc.
Item 4. Purpose of Transaction
The shares covered by this Statement were purchased for investment purposes. Fr
om time to time, additions may be made to this investment.
Page 2 of 4
Item 5. Interest in the Securities of the Bank
a) The Institution presently has outstanding 3,101,140 shares of Common St
ock. On the date of this filing, the aggregate number of shares beneficiall
y owned by Einar Paul Robsham is 207,000 which constitutes 6.675 % of the ou
tstanding shares (based on the most recently available filing of the Bank wi
th the FDIC
b) All of the foregoing shares are subject to the sole authority of Einar P
aul Robsham to vote, direct to vote, to dispose or direct to dispose.
c) The following transaction(s) effecting the purchase of shares of PSB
Bancorp in the name of Einar Paul Robsham have occurred:
Purchase of:
80,000 shares @ 10.00 on 7/15/98
10,000 shares @ 9.25 on 7/17/98
10,000 shares @ 9.3125 on 7/20/98
13,000 shares @ 9.1875 on 7/21/98
10,000 shares @ 8.75 on 7/30/98
26,000 shares @ 8.75 on 8/5/98
7,500 shares @ 8.00 on 8/12/98
6,000 shares @ 7.9375 on 8/13/98
10,000 shares @ 7.50 on 11/17/98
17,000 shares @ 7.3/8 on 12/28/98
15,500 shares @ 7.40 on 12/30/98
2,000 shares @ 7.75 on 12/31/98
All transactions were made through a broker at Advest, Inc.
d) No other person is known to have the right to receive, the power to dire
ct
the receipt of dividends from, or the proceeds from the sale of, such se
curities.
Item 6. Contacts, Arrangements, Understandings or Relationships with Respect
to Securities of the Bank
There are no contacts, arrangements, understandings or relationships (legal o
r otherwise) with the person named in Item 2. and the Bank.
Page 3 of 4
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certif
y that the information in this Statement is true and correct.
Date: February 18, 1999
Signature:
Name: Einar Paul Robsham
Page 4 of 4
