Press Release

CSB Bancorp, Inc. Reports Third Quarter Earnings

Company Release - 10/22/2019 4:15 PM ET

MILLERSBURG, Ohio--(BUSINESS WIRE)-- CSB Bancorp, Inc. (OTC Pink: CSBB):

Third Quarter Highlights

 

 

Quarter Ended

September 30, 2019

 

 

Quarter Ended

September 30, 2018

 

Diluted earnings per share

 

$

0.98

 

 

$

0.88

 

Net Income

 

$

2,695,000

 

 

$

2,432,000

 

Return on average common equity

 

 

12.89

%

 

 

13.07

%

Return on average assets

 

 

1.38

%

 

 

1.34

%

CSB Bancorp, Inc. (OTC Pink: CSBB) today announced third quarter 2019 net income of $2,695,000, or $0.98 per basic and diluted share, as compared to $2,432,000, or $0.88 per basic and diluted share, for the same period in 2018. Income before federal income tax amounted to $3,344,000, an increase of 11% over the same quarter in the prior year. For the nine month period ended September 30, 2019 net income totaled $7,821,000 compared to $6,920,000 for the same period last year, an increase of 13%.

Annualized returns on average common equity (“ROE”) and average assets (“ROA”) for the quarter were 12.89% and 1.38%, respectively, compared with 13.07% and 1.34% for the third quarter of 2018.

Eddie Steiner, President and CEO stated, “The business sector has become somewhat more cautious in outlook as uncertainties related to trade policy, slowing global economies, and continued difficulties in agriculture and traditional retail sectors weigh on forward-looking perspectives. Demand for home loans has been steady. Mortgage rates are attractive and household balance sheets remain in decent shape overall with manageable debt levels, low unemployment and increasing wages.”

Net interest income and noninterest income, on a fully-taxable equivalent basis, totaled $8.7 million during the quarter, an 8% increase from the prior-year third quarter. Net interest income increased $387 thousand, or 6%, in the third quarter of 2019 compared to the same period in 2018.

Loan interest income including fees increased $532 thousand during third quarter 2019 as compared to the same quarter in 2018, an increase of 8%. Average total loan balances during the current quarter were $17 million higher than the year ago quarter, an increase of 3%. Loan yields for third quarter 2019 averaged 5.18%, an increase of 23 basis points from the 2018 third quarter average of 4.95%.

The net interest margin was 3.95% compared to 4.00% for third quarter 2018. The tax equivalency effect on the margin dropped to 0.02% from 0.03% a result of the reduction in tax exempt loans and securities in 2019.

Noninterest income increased 23%, compared to third quarter of 2018, driven by growth in gain on sale of loans, debit card fee income, increases in bank owned life insurance values, and service charges on deposit accounts.

Noninterest expense increased 8% from third quarter 2018. Salary and employee benefit costs increased $188 thousand, or 7%, compared to the prior year quarter, as a result of higher wage and 401k retirement expenses. Professional and director’s fees increased by $117 thousand, or 59%, reflecting higher technology investment to further improve network infrastructure in support of company growth. Marketing and public relations increased by $25 thousand, or 20%, reflecting timing of certain electronic and billboard promotional efforts and the opening of a new banking center. The Company’s third quarter efficiency ratio was stable at 57.5% in both periods.

Federal income tax expense totaled $649 thousand in third quarter 2019, as compared to $582 thousand tax expense for the same quarter in 2018. The effective tax rate was 19% in both periods.

Average total assets during the quarter amounted to $773 million, an increase of $53 million, or 7%, above the same quarter of the prior year. Average loan balances of $555 million increased $17 million, or 3%, from the prior year third quarter while average securities balances of $111 million decreased $7 million, or 6%, as compared to third quarter 2018.

Average commercial loan balances for the quarter, including commercial real estate, increased $3 million, or less than 1%, from prior year levels. Average residential mortgage balances including home equity lines of credit increased $12 million, or 8%, over the prior year’s quarter. Average consumer credit balances increased $2 million, or 9%, versus the same quarter of the prior year.

Nonperforming assets decreased $823 thousand from September 30, 2018 to $4.5 million, or 0.80%, of total loans plus other real estate at September 30, 2019. The decrease in nonperforming assets reflects various commercial loans exiting through liquidation. At September 30, 2019, approximately $1.2 million of the non-performing loan total is guaranteed by either USDA or the SBA. Delinquent loan balances as of September 30, 2019 declined to 0.96% of total loans as compared to 1.25% at September 30, 2018.

Net loan losses recognized during third quarter 2019 were $46 thousand, or 0.03% annualized, compared to third quarter 2018 net loan losses of $38 thousand. The allowance for loan losses amounted to 1.20% of total loans at September 30, 2019 as compared to 1.16% at September 30, 2018.

Average deposit balances grew on a quarter over prior year quarter comparison by $51 million, or 9%, partially on the strength of customer response to higher rates paid on insured deposits. For the third quarter 2019, the average cost of deposits amounted to 0.60%, as compared to 0.42% for the third quarter 2018. During the third quarter 2019, increases in average deposit balances over the prior year quarter included non-interest bearing demand accounts of $8 million, interest-bearing transaction accounts of $35 million, and time deposits of $8 million. The average balance of securities sold under repurchase agreement during the third quarter of 2019 decreased by $6 million, or 13%, compared to the average for the same period in the prior year.

Shareholders’ equity totaled $83.6 million on September 30, 2019 with 2.7 million common shares outstanding. The tangible equity to assets ratio amounted to 10.1% on September 30, 2019 and 9.8% on September 30, 2018. The Company declared a third quarter dividend of $0.28 per share, a $.04 per share increase over third quarter 2018, producing an annualized yield of 2.9% based on the September 30, 2019 closing price of $38.67.

About CSB Bancorp, Inc.

CSB is a financial holding company headquartered in Millersburg, Ohio, with approximate assets of $787 million as of September 30, 2019. CSB provides a complete range of banking and other financial services to consumers and businesses through its wholly owned subsidiary, The Commercial and Savings Bank, with fifteen banking centers in Holmes, Wayne, Tuscarawas, and Stark counties and Trust offices located in Millersburg, North Canton, and Wooster, Ohio.

Forward-Looking Statement

This release contains forward-looking statements relating to present or future trends or factors affecting the banking industry, and specifically the financial condition and results of operations, including without limitation, statements relating to the earnings outlook of the Company, as well as its operations, markets and products. Actual results could differ materially from those indicated. Among the important factors that could cause results to differ materially are interest rate changes, softening in the economy, which could materially impact credit quality trends and the ability to generate loans, changes in the mix of the Company’s business, competitive pressures, changes in accounting, tax or regulatory practices or requirements and those risk factors detailed in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission. The Company undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release.

CSB BANCORP, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)

 

Quarters

 

 

 

 

 

 

 

 

 

(Dollars in thousands, except per share data)

 

2019

 

 

2019

 

 

2019

 

 

2018

 

 

2018

 

 

2019

 

 

2018

 

EARNINGS

 

3rd Qtr

 

 

2nd Qtr

 

 

1st Qtr

 

 

4th Qtr

 

 

3rd Qtr

 

 

9 months

 

 

9 months

 

Net interest income FTE (a)

 

$

7,228

 

 

$

7,111

 

 

$

7,049

 

 

$

6,934

 

 

$

6,847

 

 

 

21,388

 

 

$

19,980

 

Provision for loan losses

 

 

285

 

 

 

285

 

 

 

285

 

 

 

344

 

 

 

324

 

 

 

855

 

 

 

972

 

Other income

 

 

1,440

 

 

 

1,313

 

 

 

1,224

 

 

 

1,270

 

 

 

1,175

 

 

 

3,977

 

 

 

3,488

 

Other expenses

 

 

4,999

 

 

 

4,900

 

 

 

4,791

 

 

 

4,725

 

 

 

4,638

 

 

 

14,690

 

 

 

137,947

 

FTE adjustment (a)

 

 

40

 

 

 

40

 

 

 

38

 

 

 

24

 

 

 

46

 

 

 

118

 

 

 

138

 

Net income

 

 

2,695

 

 

 

2,586

 

 

 

2,540

 

 

 

2,492

 

 

 

2,432

 

 

 

7,821

 

 

 

6,920

 

Diluted earnings per share

 

 

0.98

 

 

 

0.94

 

 

 

0.93

 

 

 

0.91

 

 

 

0.88

 

 

 

2.85

 

 

 

2.52

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PERFORMANCE RATIOS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Return on average assets (ROA)

 

 

1.38

%

 

 

1.39

%

 

 

1.41

%

 

 

1.36

%

 

 

1.34

%

 

 

1.39

%

 

 

1.30

%

Return on average common equity (ROE)

 

 

12.89

%

 

 

12.91

%

 

 

13.20

%

 

 

13.20

%

 

 

13.07

%

 

 

13.00

%

 

 

12.79

%

Net interest margin FTE (a)

 

 

3.95

%

 

 

4.08

%

 

 

4.16

%

 

 

4.01

%

 

 

4.00

%

 

 

4.06

%

 

 

3.98

%

Efficiency ratio

 

 

57.52

%

 

 

57.96

%

 

 

57.72

%

 

 

57.26

%

 

 

57.45

%

 

 

57.75

%

 

 

58.45

%

Number of full-time equivalent employees

 

 

175

 

 

 

174

 

 

 

174

 

 

 

170

 

 

 

174

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MARKET DATA

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Book value/common share

 

$

30.49

 

 

$

29.70

 

 

$

28.80

 

 

$

27.91

 

 

$

26.94

 

 

 

 

 

 

 

 

 

Period-end common share mkt value

 

 

38.67

 

 

 

40.45

 

 

 

38.75

 

 

 

38.50

 

 

 

40.57

 

 

 

 

 

 

 

 

 

Market as a % of book

 

 

126.83

%

 

 

136.20

%

 

 

134.55

%

 

 

137.94

%

 

 

150.59

%

 

 

 

 

 

 

 

 

Price-to-earnings ratio

 

 

10.28

 

 

 

11.05

 

 

 

10.85

 

 

 

11.22

 

 

 

12.80

 

 

 

 

 

 

 

 

 

Cash dividends/common share

 

 

0.28

 

 

$

0.26

 

 

$

0.26

 

 

$

0.26

 

 

$

0.24

 

 

$

0.80

 

 

$

0.72

 

Common stock dividend payout ratio

 

 

28.57

%

 

 

27.66

%

 

 

27.96

%

 

 

28.57

%

 

 

27.27

%

 

 

28.07

%

 

 

28.57

%

Average basic common shares

 

 

2,742,350

 

 

 

2,742,350

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

2,742,278

 

 

 

2,742,242

 

Average diluted common shares

 

 

2,742,350

 

 

 

2,742,350

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

2,742,278

 

 

 

2,742,242

 

Period end common shares outstanding

 

 

2,742,350

 

 

 

2,742,350

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

2,742,242

 

 

 

 

 

 

 

 

 

Common shares repurchased

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common stock market capitalization

 

 

106,047

 

 

$

110,928

 

 

$

106,262

 

 

$

105,576

 

 

$

111,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSET QUALITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross charge-offs

 

$

75

 

 

$

54

 

 

$

70

 

 

$

691

 

 

$

43

 

 

 

199

 

 

$

391

 

Net (recoveries) charge-offs

 

 

46

 

 

 

35

 

 

 

(95

)

 

 

641

 

 

 

38

 

 

 

(14

)

 

 

372

 

Allowance for loan losses

 

 

6,776

 

 

 

6,537

 

 

 

6,287

 

 

 

5,907

 

 

 

6,204

 

 

 

 

 

 

 

 

 

Nonperforming assets (NPAs)

 

 

4,518

 

 

 

4,555

 

 

 

3,302

 

 

 

3,428

 

 

 

5,341

 

 

 

 

 

 

 

 

 

Net charge-off (recovery) /average loans ratio

 

 

0.03

%

 

 

0.03

%

 

 

(0.07

)%

 

 

0.47

%

 

 

0.03

%

 

 

%

 

 

0.09

%

Allowance for loan losses/period-end loans

 

 

1.20

 

 

 

1.19

 

 

 

1.15

 

 

 

1.08

 

 

 

1.16

 

 

 

 

 

 

 

 

 

NPAs/loans and other real estate

 

 

0.80

 

 

 

0.83

 

 

 

0.60

 

 

 

0.62

 

 

 

1.00

 

 

 

 

 

 

 

 

 

Allowance for loan losses/nonperforming loans

 

 

153.35

 

 

 

146.70

 

 

 

197.23

 

 

 

177.45

 

 

 

116.16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CAPITAL & LIQUIDITY

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Period-end tangible equity to assets

 

 

10.07

%

 

 

10.28

%

 

 

10.15

%

 

 

9.86

%

 

 

9.77

%

 

 

 

 

 

 

 

 

Average equity to assets

 

 

10.72

 

 

 

10.77

 

 

 

10.69

 

 

 

10.29

 

 

 

10.25

 

 

 

 

 

 

 

 

 

Average equity to loans

 

 

14.95

 

 

 

14.66

 

 

 

14.18

 

 

 

13.83

 

 

 

13.72

 

 

 

 

 

 

 

 

 

Average loans to deposits

 

 

86.18

 

 

 

88.73

 

 

 

91.16

 

 

 

89.88

 

 

 

90.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AVERAGE BALANCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

773,482

 

 

$

745,658

 

 

$

730,181

 

 

$

727,962

 

 

$

720,372

 

 

$

749,959

 

 

$

712,288

 

Earning assets

 

 

725,616

 

 

 

699,229

 

 

 

687,515

 

 

 

686,807

 

 

 

679,281

 

 

 

704,260

 

 

 

671,654

 

Loans

 

 

554,957

 

 

 

547,981

 

 

 

550,483

 

 

 

541,482

 

 

 

538,182

 

 

 

551,157

 

 

 

533,492

 

Deposits

 

 

643,981

 

 

 

617,558

 

 

 

603,839

 

 

 

602,434

 

 

 

592,738

 

 

 

621,939

 

 

 

585,337

 

Shareholders' equity

 

 

82,948

 

 

 

80,338

 

 

 

78,038

 

 

 

74,900

 

 

 

73,844

 

 

 

80,459

 

 

 

72,362

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ENDING BALANCES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

 

$

786,792

 

 

$

750,252

 

 

$

734,845

 

 

$

731,722

 

 

$

710,815

 

 

 

 

 

 

 

 

 

Earning assets

 

 

734,860

 

 

 

704,738

 

 

 

688,792

 

 

 

682,345

 

 

 

668,468

 

 

 

 

 

 

 

 

 

Loans

 

 

566,213

 

 

 

550,612

 

 

 

548,220

 

 

 

548,974

 

 

 

535,424

 

 

 

 

 

 

 

 

 

Deposits

 

 

658,119

 

 

 

623,328

 

 

 

607,342

 

 

 

606,498

 

 

 

587,531

 

 

 

 

 

 

 

 

 

Shareholders' equity

 

 

83,614

 

 

 

81,458

 

 

 

78,967

 

 

 

76,536

 

 

 

73,877

 

 

 

 

 

 

 

 

 

NOTES:

 

(a) - Net Interest income on a fully tax-equivalent ("FTE") basis restates interest on tax-exempt securities and loans as if such interest were subject to federal income tax at the statutory rate. Net interest income on an FTE basis differs from net interest income under U.S. generally accepted accounting principles.

 

CSB BANCORP, INC.
CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

September 30,

 

 

September 30,

 

(Dollars in thousands, except per share data)

 

2019

 

 

2018

 

ASSETS

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

20,696

 

 

$

15,865

 

Interest-earning deposits in other banks

 

 

58,873

 

 

 

17,384

 

Total cash and cash equivalents

 

 

79,569

 

 

 

33,249

 

Securities

 

 

 

 

 

 

 

 

Available-for-sale, at fair-value

 

 

89,572

 

 

 

89,507

 

Held-to-maturity

 

 

15,097

 

 

 

21,260

 

Equity securities

 

 

91

 

 

 

87

 

Restricted stock, at cost

 

 

4,614

 

 

 

4,614

 

Total securities

 

 

109,374

 

 

 

115,468

 

Loans held for sale

 

 

399

 

 

 

192

 

Loans

 

 

566,213

 

 

 

535,424

 

Less allowance for loan losses

 

 

6,776

 

 

 

6,204

 

Net loans

 

 

559,437

 

 

 

529,220

 

Premises and equipment, net

 

 

11,595

 

 

 

9,605

 

Goodwill and core deposit intangible

 

 

4,847

 

 

 

4,920

 

Bank owned life insurance

 

 

16,880

 

 

 

13,470

 

Accrued interest receivable and other assets

 

 

4,691

 

 

 

4,691

 

TOTAL ASSETS

 

$

786,792

 

 

$

710,815

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

Noninterest-bearing

 

$

192,620

 

 

$

177,203

 

Interest-bearing

 

 

465,499

 

 

 

410,328

 

Total deposits

 

 

658,119

 

 

 

587,531

 

 

 

 

 

 

 

 

 

 

Short-term borrowings

 

 

35,070

 

 

 

37,465

 

Other borrowings

 

 

6,453

 

 

 

8,676

 

Accrued interest payable and other liabilities

 

 

3,536

 

 

 

3,266

 

Total liabilities

 

 

703,178

 

 

 

636,938

 

Shareholders' equity

 

 

 

 

 

 

 

 

Common stock, $6.25 par value. Authorized 9,000,000 shares;

issued 2,980,602 shares in 2019 and 2018

 

 

18,629

 

 

 

18,629

 

Additional paid-in capital

 

 

9,815

 

 

 

9,815

 

Retained earnings

 

 

59,915

 

 

 

52,510

 

Treasury stock at cost - 238,252 shares in 2019 and 238,360 in 2018

 

 

(4,780

)

 

 

(4,784

)

Accumulated other comprehensive loss

 

 

35

 

 

 

(2,293

)

Total shareholders' equity

 

 

83,614

 

 

 

73,877

 

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

 

$

786,792

 

 

$

710,815

 

 

CSB BANCORP, INC.
CONSOLIDATED STATEMENTS OF INCOME

 

 

Quarter ended

 

 

Nine months ended

 

(Unaudited)

 

September 30,

 

 

September 30,

 

(Dollars in thousands, except per share data)

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Interest and dividend income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans, including fees

 

$

7,239

 

 

$

6,707

 

 

$

21,496

 

 

$

19,361

 

Taxable securities

 

 

534

 

 

 

586

 

 

 

1,705

 

 

 

1,784

 

Nontaxable securities

 

 

133

 

 

 

152

 

 

 

401

 

 

 

464

 

Other

 

 

356

 

 

 

127

 

 

 

749

 

 

 

256

 

Total interest and dividend income

 

 

8,262

 

 

 

7,572

 

 

 

24,351

 

 

 

21,865

 

Interest expense:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

966

 

 

 

633

 

 

 

2,711

 

 

 

1,647

 

Other

 

 

108

 

 

 

138

 

 

 

370

 

 

 

376

 

Total interest expense

 

 

1,074

 

 

 

771

 

 

 

3,081

 

 

 

2,023

 

Net interest income

 

 

7,188

 

 

 

6,801

 

 

 

21,270

 

 

 

19,842

 

Provision for loan losses

 

 

285

 

 

 

324

 

 

 

855

 

 

 

972

 

Net interest income after provision for loan losses

 

 

6,903

 

 

 

6,477

 

 

 

20,415

 

 

 

18,870

 

Noninterest income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposits accounts

 

 

333

 

 

 

301

 

 

 

938

 

 

 

885

 

Trust services

 

 

234

 

 

 

204

 

 

 

670

 

 

 

641

 

Debit card interchange fees

 

 

377

 

 

 

330

 

 

 

1,093

 

 

 

966

 

Gain on sale of loans

 

 

132

 

 

 

63

 

 

 

287

 

 

 

200

 

Market value change in equity securities

 

 

5

 

 

 

(6

)

 

 

8

 

 

 

(2

)

Other

 

 

359

 

 

 

283

 

 

 

981

 

 

 

798

 

Total noninterest income

 

 

1,440

 

 

 

1,175

 

 

 

3,977

 

 

 

3,488

 

Noninterest expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

2,993

 

 

 

2,805

 

 

 

8,750

 

 

 

8,160

 

Occupancy expense

 

 

209

 

 

 

194

 

 

 

618

 

 

 

628

 

Equipment expense

 

 

128

 

 

 

145

 

 

 

408

 

 

 

461

 

Professional and director fees

 

 

316

 

 

 

199

 

 

 

963

 

 

 

749

 

Software expense

 

 

225

 

 

 

221

 

 

 

674

 

 

 

655

 

Marketing and public relations

 

 

149

 

 

 

124

 

 

 

405

 

 

 

363

 

Debit card expense

 

 

142

 

 

 

144

 

 

 

401

 

 

 

386

 

Other expenses

 

 

837

 

 

 

806

 

 

 

2,471

 

 

 

2,392

 

Total noninterest expenses

 

 

4,999

 

 

 

4,638

 

 

 

14,690

 

 

 

13,794

 

Income before income tax

 

 

3,344

 

 

 

3,014

 

 

 

9,702

 

 

 

8,564

 

Federal income tax provision

 

 

649

 

 

 

582

 

 

 

1,881

 

 

 

1,644

 

Net income

 

$

2,695

 

 

$

2,432

 

 

$

7,821

 

 

$

6,920

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.98

 

 

$

0.88

 

 

$

2.85

 

 

$

2.52

 

Diluted

 

$

0.98

 

 

$

0.88

 

 

$

2.85

 

 

$

2.52

 

 

Paula J. Meiler, SVP & CFO
330.763.2873
[email protected]

Source: CSB Bancorp, Inc.