<SEC-DOCUMENT>0000943374-24-000285.txt : 20240627
<SEC-HEADER>0000943374-24-000285.hdr.sgml : 20240627
<ACCEPTANCE-DATETIME>20240627144317
ACCESSION NUMBER:		0000943374-24-000285
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240627
DATE AS OF CHANGE:		20240627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CFSB Bancorp, Inc. /MA/
		CENTRAL INDEX KEY:			0001879103
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		ORGANIZATION NAME:           	02 Finance
		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:		241078176

	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_2023.htm
<DESCRIPTION>CFSB BANCORP, INC. FORM 11-K DECEMBER 31, 2023
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Luse Gorman
         Document created using Broadridge PROfile 23.9.1.5178
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <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" id="ze1fd5840a45f46c2982742ddea81bd82" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top;">&#9746;</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;">For the fiscal year ended <u>December 31, 2023</u></div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">OR</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2dc830e54b9845bbbff6a77f1f1bc26f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top;">&#9744;</td>
          <td style="width: auto; vertical-align: top;">
            <div>TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </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 class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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 class="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 36pt">&#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>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center;">
      <div style="font-weight: bold;">SUMMARY ANNUAL REPORT FOR</div>
      <div style="font-weight: bold;">COLONIAL FEDERAL SAVINGS BANK 401(K) PLAN</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">This is a summary of the annual report Form 5500 Annual Return/Report of Small Employee Benefit Plan of Colonial Federal Savings Bank
        401(k) Plan and Employer Identification Number 04-1983105/Plan Number 003 for the plan year 01/01/2023 through 12/31/2023. The Form 5500-SF annual report has been filed with the Employee Benefits Security Administration, as required under the
        Employee Retirement Income Security Act of 1974 (ERISA). Your plan is a single employer, defined contribution plan with the following characteristics: ERISA section 404(c), total participant-directed account, code section 401(k) feature, code
        section 401(m) arrangement, total or partial participant-directed account, pre-approved pension.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Basic Financial Statement</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">Plan expenses were $42,033. These expenses included $30,583 in administrative expenses and $11,450 in benefits paid to participants and
        beneficiaries, $0 in certain deemed and/or corrective distributions, and $0 in other expenses. A total of 32 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: 36pt;">The value of plan assets, after subtracting liabilities of the plan, was $8,924,326 as of the end of the plan year, compared to
        $7,378,258 as of the beginning of the plan year. During the plan year the plan experienced a change in its net assets of $1,546,068. 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 $1,588,101, including employer contributions of
        $22,680, employee contributions of $226,793, other contributions/other income of $0 and earnings from investments of $1,338,628.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Information Regarding Plan Assets</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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 01/01/2023 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><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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: 72pt;">$8,875,447.13</div>
      <div><br>
      </div>
      <div style="text-align: left;">The plan receives year-end statements from these regulated financial institutions that confirm the above information.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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 Empower Trust Company, LLC, an approved surety company.</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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 class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div class="BRPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 8pt;"><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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><br>
      </div>
      <div style="font-weight: bold;">Your Rights to Additional Information</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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: 36pt;">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><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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><br>
      </div>
      <div style="font-weight: bold;">Paperwork Reduction Act Statement</div>
      <div><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">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><br>
      </div>
      <div style="text-align: left; 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><br>
      </div>
      <div style="text-align: left; text-indent: 36pt;">OMB Control Number 1210-0040 (expires 03/31/2026)</div>
    </div>
    <div style="text-align: center;"> <br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <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>
    <div><br>
    </div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6a80de5773c147b0a972fb038123a262" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <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;">
            <div>COLONIAL FEDERAL SAVINGS BANK 401(k) PLAN</div>
          </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;</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;</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;</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;</td>
        </tr>
        <tr>
          <td style="width: 44.94%; vertical-align: top;">
            <div style="text-align: justify;">Date: June 27, 2024</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;"><u>&#160;/s/ Susan J. Shea</u><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;">
            <div>Susan J. Shea</div>
          </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;">
            <div>Treasurer and Chief Operating Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
