<SEC-DOCUMENT>0000943374-23-000276.txt : 20230628
<SEC-HEADER>0000943374-23-000276.hdr.sgml : 20230628
<ACCEPTANCE-DATETIME>20230628081243
ACCESSION NUMBER:		0000943374-23-000276
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230628
DATE AS OF CHANGE:		20230628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CFSB Bancorp, Inc. /MA/
		CENTRAL INDEX KEY:			0001879103
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41220
		FILM NUMBER:		231049304

	BUSINESS ADDRESS:	
		STREET 1:		15 BEACH STREET
		CITY:			QUINCY
		STATE:			MA
		ZIP:			02170
		BUSINESS PHONE:		(617) 471-0750

	MAIL ADDRESS:	
		STREET 1:		15 BEACH STREET
		CITY:			QUINCY
		STATE:			MA
		ZIP:			02170
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>form11k_2022.htm
<DESCRIPTION>CFSB BANCORP, INC. FORM 11-K DECEMBER 31, 2022
<TEXT>
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    <div style="text-align: center; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">WASHINGTON, D.C. 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FORM 11-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS</div>
    <div style="text-align: center; font-weight: bold;">AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE</div>
    <div style="text-align: center; font-weight: bold;">SECURITIES EXCHANGE ACT OF 1934</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z3a065b3b1dba4211945327174378b548">

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            <div>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
          </td>
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    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">For the fiscal year ended <u>December 31, 2022</u></div>
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    <div style="text-align: center; font-weight: bold;">OR</div>
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          <td style="width: 36pt; vertical-align: top;">&#9744;</td>
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            <div>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
          </td>
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    </div>
    <div>For the transition period from _______________ to _______________</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Commission File Number <u>001-41220</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">A.<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" class="TRGRRTFtoHTMLTab">&#160;</font>Full title of the plan and the address of the plan, if different from that of the issuer named below:</div>
    <div><br>
    </div>
    <div style="text-align: center;">Colonial Federal Savings Bank 401(k) Plan</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">B:<font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt" class="TRGRRTFtoHTMLTab">&#160;</font>Name of issuer of the securities held pursuant to the plan and the address of its
      principal executive office:</div>
    <div><br>
    </div>
    <div style="text-align: center;">CFSB Bancorp, Inc.</div>
    <div style="text-align: center;">15 Beach Street</div>
    <div style="text-align: center;">Quincy, Massachusetts 02170</div>
    <div style="text-align: center;"> <br>
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      <div><br>
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      <div style="margin-top: 3.85pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SUMMARY ANNUAL REPORT FOR </div>
      <div style="margin-top: 3.85pt; font-family: 'Times New Roman',Times,serif; font-weight: bold;">COLONIAL FEDERAL SAVINGS BANK 401(K) PLAN</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-left: 5pt; margin-top: 0.05pt;">This is a summary of the annual report for the Colonial Federal Savings Bank 401(k) Plan (Employer Identification Number 04-1983105, Plan Number 003) for the
        plan year 01/01/2022 through 12/31/2022. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).</div>
      <div style="margin-top: 0.4pt;"><br>
      </div>
      <div style="margin-right: 149.95pt; margin-left: 149.9pt; font-weight: bold;">Basic Financial Statement</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="text-align: left; margin-right: 6.65pt; margin-left: 5pt; text-indent: 36pt;">Plan expenses were $26,902. These expenses included $26,902 in administrative expenses and $0 in benefits paid to participants and beneficiaries, $0 in certain
        deemed and/or corrective distributions, and $0 in other expenses. A total of 43 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 6.65pt; margin-left: 5pt;">The value of plan assets, after subtracting liabilities of the plan, was $7,378,258 as of the end of the plan year, compared to $8,834,200 as of the
        beginning of the plan year. During the plan year the plan experienced a change in its net assets of -$1,455,942. This change includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of
        the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of -$1,429,040, including employer contributions of $23,354, employee
        contributions of $213,992, other contributions/other income of $0 and earnings from investments of -$1,666,386.</div>
      <div style="margin-top: 0.5pt;"><br>
      </div>
      <div style="margin-right: 149.95pt; margin-left: 149.8pt; font-weight: bold;">Information Regarding Plan Assets</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 11.45pt; margin-left: 5pt;">The U.S. Department of Labor&#8217;s regulations require that an independent qualified public accountant audit the plan&#8217;s financial statements unless certain
        conditions are met for the audit requirement to be waived. This plan met the audit waiver conditions for the plan year beginning 01/01/2022 and therefore has not had an audit performed. Instead, the following information is provided to assist you
        in verifying that the assets reported on the Form 5500-SF were actually held by the plan.</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 41pt;">At the end of the plan year, the plan had qualifying plan assets at the following institution(s):</div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 77pt; margin-top: 0.05pt;">$7,323,305</div>
      <div><br>
      </div>
      <div style="text-align: left; margin-left: 5pt;">The plan receives year-end statements from these regulated financial institutions that confirm the above information.</div>
      <div style="margin-top: 0.55pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-left: 5pt;">The remainder of the plan&#8217;s assets were held in individual participant accounts with investments directed by participants and beneficiaries and with account statements from
        regulated financial institutions furnished to the participant or beneficiary at least annually, loans to participants and other assets covered by a fidelity bond at least equal to the value of the assets issued by Reliance Trust, an approved surety
        company.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 6.65pt; margin-left: 5pt;">Plan participants and beneficiaries have a right, on request and free of charge, to get copies of the financial institution year-end statements and the
        fidelity bond. If you want to examine or get copies of the financial institution year-end statements or evidence of the fidelity bond, please contact Thad Coward, who is a representative of the plan administrator, at 701 Westchester Avenue, Suite
        320e, White Plains, NY 10604 and phone number, 866-633-4015.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 6.65pt; margin-left: 5pt; margin-top: 0.05pt;">If you are unable to obtain or examine copies of the regulated financial institution statements or evidence of the fidelity bond, you may
        contact the regional office of the U.S. Department of Labor&#8217;s Employee Benefits Security Administration (EBSA) for assistance by calling toll-free 866-444-EBSA (3272). A listing of EBSA regional offices can be found at
        https://www.dol.gov/agencies/ebsa.</div>
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      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 6.65pt; margin-left: 5pt; margin-top: 3.95pt;">General information regarding the audit waiver conditions applicable to the plan can be found on the U.S. Department of Labor Web site at
        https://www.dol.gov/agencies/ebsa under the heading "Frequently Asked Questions."</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="margin-right: 149.95pt; margin-left: 149.9pt; font-weight: bold;">Your Rights to Additional Information</div>
      <div style="margin-top: 0.15pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-left: 5pt;">You have the right to receive a copy of the full annual report, or any part thereof, on request. To obtain a copy of the full annual report, or any part thereof, write or call the
        office of Thad Coward, who is a representative of the plan administrator, at 701 Westchester Avenue, Suite 320e, White Plains, NY 10604 and phone number, 866-633-4015.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 6.1pt; margin-left: 5pt;">You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and
        accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part
        of that report.</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 1.65pt; margin-left: 5pt;">You also have the legally protected right to examine the annual report at the main office of the plan: 701 Westchester Avenue, Suite 320e, White Plains, NY
        10604, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee
        Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.</div>
      <div style="margin-top: 0.45pt;"><br>
      </div>
      <div style="margin-right: 149.95pt; margin-left: 149.85pt; font-weight: bold;">Paperwork Reduction Act Statement</div>
      <div style="margin-top: 0.05pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 35.95pt; margin-right: 8.7pt; margin-left: 5pt;">According to the Paperwork Reduction Act of 1995 (Pub. L. 104-13) (PRA), no persons are required to respond to a collection of information unless such
        collection displays a valid Office of Management and Budget (OMB) control number. The Department notes that a Federal agency cannot conduct or sponsor a collection of information unless it is approved by OMB under the PRA, and displays a currently
        valid OMB control number, and the public is not required to respond to a collection of information unless it displays a currently valid OMB control number. See 44 U.S.C. 3507. Also, notwithstanding any other provisions of law, no person shall be
        subject to penalty for failing to comply with a collection of information if the collection of information does not display a currently valid OMB control number. See 44 U.S.C. 3512.</div>
      <div style="margin-top: 0.1pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 5pt; text-indent: 36pt;">The public reporting burden for this collection of information is estimated to average less than one minute per notice (approximately 3 hours and 11 minutes per plan). Interested
        parties are encouraged to send comments regarding the burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of the Chief Information Officer,
        Attention: Departmental Clearance Officer, 200 Constitution Avenue, N.W., Room N-1301, Washington, DC 20210 or email DOL_PRA_PUBLIC@dol.gov and reference the OMB Control Number 1210-0040.</div>
      <div style="margin-top: 0.55pt;"><br>
      </div>
      <div style="text-align: left; margin-left: 41pt;">OMB Control Number 1210-0040 (expires 07/31/2023)</div>
    </div>
    <div style="text-align: center;"> <br>
    </div>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-style: italic;">The Plan.&#160; </font>Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have
      duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">
            <div>COLONIAL FEDERAL SAVINGS BANK 401(k) PLAN</div>
          </td>
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        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;</td>
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          <td style="width: 44.94%; vertical-align: top;">
            <div style="text-align: justify;">Date: June 27, 2023</div>
          </td>
          <td style="width: 10.14%; vertical-align: top;">
            <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">By:&#160;&#160; <br>
            </div>
          </td>
          <td style="width: 44.92%; vertical-align: top;">&#160;<u>/s/ Susan J. Shea</u><br>
          </td>
        </tr>
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          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;Susan J. Shea<br>
          </td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">&#160;</td>
          <td style="width: 10.14%; vertical-align: top;">&#160;</td>
          <td style="width: 44.92%; vertical-align: top;">&#160;Treasurer and Chief Operating Officer<br>
          </td>
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