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CSB Bancorp Inc. (Symbol: CSBB) is a regional financial institution headquartered in Ohio, specializing in a wide range of personal and business banking services. Operating through its wholly-owned subsidiary, The Commercial & Savings Bank (CSB), the company focuses on delivering comprehensive financial solutions tailored to the needs of its local communities. CSB Bancorp serves customers primarily located in Holmes, Stark, Tuscarawas, and Wayne counties, emphasizing a community-centric approach to banking.
Core Banking Services
CSB Bancorp offers an extensive portfolio of banking products and services designed to meet the diverse needs of individuals, families, and businesses. Its retail banking offerings include checking and savings accounts, time deposits, Individual Retirement Accounts (IRAs), and safe deposit facilities. On the lending side, the bank provides a variety of loan products, including personal loans, consumer loans, residential real estate mortgage loans, commercial real estate mortgage loans, installment loans, and commercial loans. Additionally, the institution supports business clients with specialized services such as night depository facilities and cash management solutions.
Trust and Investment Services
In addition to traditional banking, CSB Bancorp has a robust trust and brokerage division. The company provides estate settlement, retirement planning, agency account management, investment management, and estate planning services. By integrating trust and investment services into its offerings, CSB Bancorp enhances its ability to serve high-net-worth individuals and businesses seeking comprehensive financial management solutions.
Geographic Focus and Market Position
CSB Bancorp operates primarily within the northeastern Ohio region, focusing on Holmes, Stark, Tuscarawas, and Wayne counties. This localized approach enables the company to build strong relationships with its customers and tailor its services to the unique economic and cultural characteristics of the area. Its community-oriented business model positions it as a trusted financial partner for local residents and businesses, fostering long-term customer loyalty.
Competitive Landscape
CSB Bancorp operates in the competitive regional banking sector, where it faces challenges from larger national banks, credit unions, and emerging fintech companies. The company differentiates itself through its personalized customer service, deep understanding of the local market, and comprehensive range of financial products. Its ability to offer both traditional banking and advanced trust and investment services provides a competitive edge in attracting and retaining diverse customer segments.
Revenue Streams and Business Model
The company generates revenue through a combination of interest income from loans, fees from deposit accounts, and income from trust and brokerage services. Its diversified revenue streams help mitigate risks associated with interest rate fluctuations and economic cycles. By maintaining a balanced mix of retail, commercial, and investment services, CSB Bancorp ensures financial stability and growth potential within its regional market.
Commitment to Community and Employees
As a key employer in northeastern Ohio, CSB Bancorp is recognized for its commitment to fostering a positive workplace culture. The company has been named one of Northeast Ohio's Best Places to Work, reflecting its dedication to employee satisfaction and community engagement. This focus on people—both customers and employees—reinforces its reputation as a trusted and reliable financial institution.
Conclusion
CSB Bancorp Inc. stands out as a well-established regional bank with a comprehensive suite of financial services and a strong commitment to its local communities. By combining traditional banking with advanced trust and investment offerings, the company provides holistic financial solutions tailored to the needs of its customers. Its localized focus, personalized service, and diversified revenue streams position it as a key player in the northeastern Ohio banking sector.
CSB Bancorp (OTC Pink: CSBB) has declared a first quarter cash dividend of $0.40 per share on its common stock. The dividend will be payable on March 25, 2025, to shareholders of record as of March 11, 2025.
The financial holding company, headquartered in Millersburg, Ohio, reports assets of $1.2 billion as of December 31, 2024. The company operates through its subsidiary, The Commercial and Savings Bank, maintaining sixteen banking centers across Holmes, Stark, Tuscarawas, and Wayne counties. Additionally, CSB operates trust offices in Millersburg, North Canton, and Wooster, Ohio, along with a loan production office in Medina, Ohio.
CSB Bancorp (OTC Pink: CSBB) reported fourth quarter 2024 net income of $2,319,000 ($0.87 per share), down from $3,697,000 ($1.38 per share) in Q4 2023. Full-year 2024 net income decreased 32% to $10,012,000 from $14,756,000 in 2023.
The quarter saw increased credit loss provisions of $2.1 million compared to Q4 2023, largely due to a $7.1 million commercial lending relationship in court liquidation. Net loan balances grew 5.1% in 2024, while pre-provision net revenue increased 2.9% to $19.4 million. The company's ROE and ROA for Q4 2024 were 7.99% and 0.76% respectively, down from 14.22% and 1.25% in Q4 2023.
Shareholders' equity increased 6.4% to $115 million, and the company declared a quarterly dividend of $0.40 per share. The loan portfolio showed mixed performance with commercial and residential mortgages growing while consumer credit decreased.
CSB Bancorp (OTC Pink: CSBB) has declared a fourth quarter cash dividend of $0.40 per share on its common stock, payable December 17, 2024, to shareholders of record as of December 3, 2024. The financial holding company, headquartered in Millersburg, Ohio, reports approximately $1.2 billion in assets as of September 30, 2024. The company operates through its subsidiary, The Commercial and Savings Bank, with sixteen banking centers across multiple Ohio counties, three Trust offices, and a loan production office in Medina.
CSB Bancorp, Inc. (OTC Pink: CSBB) reported third quarter 2024 net income of $3,145,000, or $1.18 per basic and diluted share, compared to $3,481,000, or $1.30 per share, for the same period in 2023. For the nine-month period ended September 30, 2024, net income totaled $7,693,000, a 30% decrease from the previous year. The company's annualized ROE and ROA for the quarter were 11.14% and 1.05%, respectively, down from 13.63% and 1.19% in Q3 2023.
Key highlights include:
- Pre-Provision Net Revenue increased by 2% to $4.60 million
- Net interest income rose by 4%
- Noninterest income increased by 6%
- Noninterest expense grew by 6%
- Loan interest income including fees increased by 15%
- Average earning assets grew by 3% to $31 million
The company declared a third quarter dividend of $0.40 per share, yielding 4.2% based on the September 30, 2024 closing price of $38.50.
CSB Bancorp, Inc. (OTC Pink: CSBB) has declared a third quarter cash dividend of $0.40 per share on its common stock, payable September 17, 2024, to shareholders of record as of September 3, 2024. This represents a $0.01 increase in the quarterly cash dividend. CSB Bancorp is a financial holding company headquartered in Millersburg, Ohio, with approximate assets of $1.2 billion as of June 30, 2024. The company provides banking and financial services through its subsidiary, The Commercial and Savings Bank, with sixteen banking centers in Ohio counties and additional trust offices and a loan production office.
CSB Bancorp, Inc. (OTC Pink: CSBB) reported second quarter 2024 net income of $1,615,000, or $0.61 per diluted share, compared to $3,644,000, or $1.36 per diluted share, for the same period in 2023. Net income for the six-month period ended June 30, 2024, decreased by 40% to $4,548,000. The company's ROE and ROA for Q2 2024 were 5.89% and 0.56%, respectively, down from 14.62% and 1.27% in Q2 2023. Key factors affecting performance include:
- Pressured net interest margins
- Slowed loan demand
- Credit deterioration in a $6.4 million commercial lending relationship
- Increased allowance for expected credit losses to $10.6 million (1.47% of total loans)
- 17% increase in loan interest income
- 62% increase in interest expense
CSB Bancorp, Inc., declared a second-quarter cash dividend of $0.39 per share on its common stock, payable on June 18, 2024. The company, with assets of $1.2 billion, offers banking and financial services through its subsidiary, The Commercial and Savings Bank, across multiple locations.
CSB Bancorp, Inc. declared a second quarter cash dividend of $0.39 per share, payable on June 18, 2024, to shareholders of record as of June 4, 2024. The company is a financial holding firm with around $1.2 billion in assets, providing various financial services through its subsidiary, The Commercial and Savings Bank.
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