Company Quick10K Filing
CSB Bancorp
Price40.00 EPS4
Shares3 P/E11
MCap110 P/FCF15
Net Debt-80 EBIT15
TEV30 TEV/EBIT2
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-11-09
10-Q 2020-06-30 Filed 2020-08-10
10-Q 2020-03-31 Filed 2020-05-08
10-K 2019-12-31 Filed 2020-03-16
10-Q 2019-09-30 Filed 2019-11-08
10-Q 2019-06-30 Filed 2019-08-08
10-Q 2019-03-31 Filed 2019-05-09
10-K 2018-12-31 Filed 2019-03-15
10-Q 2018-09-30 Filed 2018-11-09
10-Q 2018-06-30 Filed 2018-08-09
10-Q 2018-03-31 Filed 2018-05-10
10-K 2017-12-31 Filed 2018-03-16
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-11
10-Q 2017-03-31 Filed 2017-05-12
10-K 2016-12-31 Filed 2017-03-23
10-Q 2016-09-30 Filed 2016-11-10
10-Q 2016-06-30 Filed 2016-08-11
10-Q 2016-03-31 Filed 2016-05-13
10-K 2015-12-31 Filed 2016-03-24
10-Q 2015-09-30 Filed 2015-11-13
10-Q 2015-06-30 Filed 2015-08-13
10-Q 2015-03-31 Filed 2015-05-14
10-K 2014-12-31 Filed 2015-03-23
10-Q 2014-09-30 Filed 2014-11-13
10-Q 2014-06-30 Filed 2014-08-13
10-Q 2014-03-31 Filed 2014-05-13
10-K 2013-12-31 Filed 2014-03-25
10-Q 2013-09-30 Filed 2013-11-13
10-Q 2013-06-30 Filed 2013-08-13
10-Q 2013-03-31 Filed 2013-05-14
10-K 2012-12-31 Filed 2013-03-25
10-Q 2012-09-30 Filed 2012-11-13
10-Q 2012-06-30 Filed 2012-08-13
10-Q 2012-03-31 Filed 2012-05-14
10-K 2011-12-31 Filed 2012-03-26
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-13
10-K 2010-12-31 Filed 2011-03-24
10-Q 2010-09-30 Filed 2010-11-12
10-Q 2010-06-30 Filed 2010-08-13
10-Q 2010-03-31 Filed 2010-05-14
10-K 2009-12-31 Filed 2010-03-26
8-K 2021-01-25 Earnings, Exhibits
8-K 2020-11-20
8-K 2020-10-21
8-K 2020-07-21
8-K 2020-04-29
8-K 2020-04-21
8-K 2020-01-24
8-K 2019-12-20
8-K 2019-10-22
8-K 2019-09-27
8-K 2019-07-23
8-K 2019-04-24
8-K 2019-04-16
8-K 2019-01-25
8-K 2018-11-16
8-K 2018-10-24
8-K 2018-09-27
8-K 2018-07-24
8-K 2018-04-25
8-K 2018-04-25
8-K 2018-03-22
8-K 2018-01-25
8-K 2018-01-25

CSBB 10Q Quarterly Report

Part I - Financial Information
Item 1. - Financial Statements
Note 1 - Summary of Significant Accounting Policies
Note 2 - Securities
Note 3 - Loans
Note 4 - Short - Term Borrowings
Note 5 - Fair Value Measurements
Note 6 - Fair Values of Financial Instruments
Note 7 - Accumulated Other Comprehensive Income (Loss)
Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3 - Quantitative and Qualitative Disclosures About Market Risk
Item 4 - Controls and Procedures
Part II - Other Information
Item 1 - Legal Proceedings.
Item 1A - Risk Factors.
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3 - Defaults Upon Senior Securities.
Item 4 - Mine Safety Disclosures.
Item 5 - Other Information.
Part II - Other Information
Item 6 - Exhibits.
EX-11 csbb-ex11_9.htm
EX-31.1 csbb-ex311_6.htm
EX-31.2 csbb-ex312_7.htm
EX-32.1 csbb-ex321_10.htm
EX-32.2 csbb-ex322_8.htm

CSB Bancorp Earnings 2020-09-30

Balance SheetIncome StatementCash Flow

csbb-10q_20200930.htm
false 2020 Q3 --12-31 CSB BANCORP INC /OH 0000880417 Accelerated Filer NONE P3Y10M24D 0.035 0.060 0.053 P26Y10M24D P16Y 0000880417 2020-01-01 2020-09-30 xbrli:shares 0000880417 2020-11-01 iso4217:USD 0000880417 2020-09-30 0000880417 2019-12-31 iso4217:USD xbrli:shares 0000880417 2020-07-01 2020-09-30 0000880417 2019-07-01 2019-09-30 0000880417 2019-01-01 2019-09-30 0000880417 us-gaap:DepositAccountMember 2020-07-01 2020-09-30 0000880417 us-gaap:DepositAccountMember 2019-07-01 2019-09-30 0000880417 us-gaap:DepositAccountMember 2020-01-01 2020-09-30 0000880417 us-gaap:DepositAccountMember 2019-01-01 2019-09-30 0000880417 us-gaap:FiduciaryAndTrustMember 2020-07-01 2020-09-30 0000880417 us-gaap:FiduciaryAndTrustMember 2019-07-01 2019-09-30 0000880417 us-gaap:FiduciaryAndTrustMember 2020-01-01 2020-09-30 0000880417 us-gaap:FiduciaryAndTrustMember 2019-01-01 2019-09-30 0000880417 us-gaap:DebitCardMember 2020-07-01 2020-09-30 0000880417 us-gaap:DebitCardMember 2019-07-01 2019-09-30 0000880417 us-gaap:DebitCardMember 2020-01-01 2020-09-30 0000880417 us-gaap:DebitCardMember 2019-01-01 2019-09-30 0000880417 us-gaap:CommonStockMember 2020-06-30 0000880417 us-gaap:AdditionalPaidInCapitalMember 2020-06-30 0000880417 us-gaap:RetainedEarningsMember 2020-06-30 0000880417 us-gaap:TreasuryStockMember 2020-06-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-06-30 0000880417 2020-06-30 0000880417 us-gaap:RetainedEarningsMember 2020-07-01 2020-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-07-01 2020-09-30 0000880417 us-gaap:CommonStockMember 2020-09-30 0000880417 us-gaap:AdditionalPaidInCapitalMember 2020-09-30 0000880417 us-gaap:RetainedEarningsMember 2020-09-30 0000880417 us-gaap:TreasuryStockMember 2020-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-09-30 0000880417 us-gaap:CommonStockMember 2019-12-31 0000880417 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0000880417 us-gaap:RetainedEarningsMember 2019-12-31 0000880417 us-gaap:TreasuryStockMember 2019-12-31 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0000880417 us-gaap:RetainedEarningsMember 2020-01-01 2020-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-09-30 0000880417 us-gaap:CommonStockMember 2019-06-30 0000880417 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000880417 us-gaap:RetainedEarningsMember 2019-06-30 0000880417 us-gaap:TreasuryStockMember 2019-06-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000880417 2019-06-30 0000880417 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0000880417 us-gaap:CommonStockMember 2019-09-30 0000880417 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000880417 us-gaap:RetainedEarningsMember 2019-09-30 0000880417 us-gaap:TreasuryStockMember 2019-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0000880417 2019-09-30 0000880417 us-gaap:CommonStockMember 2018-12-31 0000880417 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000880417 us-gaap:RetainedEarningsMember 2018-12-31 0000880417 us-gaap:TreasuryStockMember 2018-12-31 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000880417 2018-12-31 0000880417 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0000880417 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0000880417 us-gaap:TreasuryStockMember 2019-01-01 2019-09-30 0000880417 us-gaap:AccountingStandardsUpdate201815Member 2020-01-01 2020-09-30 0000880417 us-gaap:AccountingStandardsUpdate201912Member 2020-01-01 2020-09-30 0000880417 csbb:AccountingStandardsUpdate202004Member 2020-01-01 2020-09-30 xbrli:pure 0000880417 us-gaap:USTreasurySecuritiesMember 2020-09-30 0000880417 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2020-09-30 0000880417 us-gaap:AssetBackedSecuritiesMember 2020-09-30 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember 2020-09-30 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember 2020-09-30 0000880417 us-gaap:USTreasurySecuritiesMember 2019-12-31 0000880417 us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-12-31 0000880417 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-12-31 0000880417 us-gaap:AssetBackedSecuritiesMember 2019-12-31 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-12-31 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember 2019-12-31 0000880417 us-gaap:EquitySecuritiesMember 2020-06-30 0000880417 us-gaap:EquitySecuritiesMember 2019-12-31 0000880417 us-gaap:EquitySecuritiesMember 2020-01-01 2020-09-30 0000880417 us-gaap:EquitySecuritiesMember 2019-01-01 2019-12-31 0000880417 csbb:RestrictedStockEquitySecuritiesMember 2020-09-30 0000880417 csbb:RestrictedStockEquitySecuritiesMember 2019-12-31 csbb:Security 0000880417 us-gaap:CommercialPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2019-12-31 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2019-12-31 0000880417 csbb:PaycheckProtectionProgramMember us-gaap:CommercialPortfolioSegmentMember 2020-09-30 csbb:Loan 0000880417 csbb:PaycheckProtectionProgramMember 2020-01-01 2020-09-30 0000880417 csbb:PaycheckProtectionProgramMember 2020-09-30 0000880417 csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:CoronaVirusDiseaseTwoThousandNineteenMember csbb:AssistedLivingFacilitiesMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2020-06-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2020-06-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2020-06-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2020-06-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2020-06-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2020-06-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2020-07-01 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2020-07-01 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2020-07-01 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2020-07-01 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2020-07-01 2020-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2020-07-01 2020-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2020-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2019-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember 2020-01-01 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2020-01-01 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2020-01-01 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2020-01-01 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2020-01-01 2020-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2020-01-01 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2019-06-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-06-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2019-06-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-06-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2019-06-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2019-06-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2019-07-01 2019-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-07-01 2019-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2019-07-01 2019-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-07-01 2019-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2019-07-01 2019-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2019-07-01 2019-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2019-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2019-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2019-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2019-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember 2018-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2018-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2018-12-31 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2018-12-31 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2018-12-31 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2018-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember 2019-01-01 2019-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-01-01 2019-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember 2019-01-01 2019-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-01-01 2019-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember 2019-01-01 2019-09-30 0000880417 us-gaap:UnallocatedFinancingReceivablesMember 2019-01-01 2019-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000880417 us-gaap:FinancingReceivables30To59DaysPastDueMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000880417 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000880417 us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000880417 us-gaap:FinancingReceivables60To89DaysPastDueMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000880417 us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000880417 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000880417 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-12-31 0000880417 srt:MinimumMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:CoronaVirusDiseaseTwoThousandNineteenMember srt:MaximumMember 2020-01-01 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:ConstructionPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:AggregateCommercialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:RVPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:OtherConsumerPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 csbb:AggregateConsumerPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:ConstructionPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:AggregateCommercialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:RVPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:OtherConsumerPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:AggregateConsumerPortfolioSegmentMember csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 csbb:CoronaVirusDiseaseTwoThousandNineteenMember 2020-01-01 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember 2020-09-30 csbb:Contract 0000880417 2019-01-01 2019-12-31 csbb:Property 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:PassMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:PassMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PassMember 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember us-gaap:PassMember 2020-09-30 0000880417 us-gaap:PassMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:PassMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:PassMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:PassMember 2019-12-31 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember us-gaap:PassMember 2019-12-31 0000880417 us-gaap:PassMember 2019-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:SpecialMentionMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:SpecialMentionMember 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember us-gaap:SpecialMentionMember 2020-09-30 0000880417 us-gaap:SpecialMentionMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:SpecialMentionMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:SpecialMentionMember 2019-12-31 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember us-gaap:SpecialMentionMember 2019-12-31 0000880417 us-gaap:SpecialMentionMember 2019-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:SubstandardMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:SubstandardMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:SubstandardMember 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember us-gaap:SubstandardMember 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember 2020-09-30 0000880417 us-gaap:SubstandardMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember us-gaap:SubstandardMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember us-gaap:SubstandardMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember us-gaap:SubstandardMember 2019-12-31 0000880417 us-gaap:ConsumerPortfolioSegmentMember us-gaap:SubstandardMember 2019-12-31 0000880417 us-gaap:SubstandardMember 2019-12-31 0000880417 us-gaap:CommercialPortfolioSegmentMember csbb:NotRatedMember 2020-09-30 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember csbb:NotRatedMember 2020-09-30 0000880417 us-gaap:ResidentialPortfolioSegmentMember csbb:NotRatedMember 2020-09-30 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember csbb:NotRatedMember 2020-09-30 0000880417 us-gaap:ConsumerPortfolioSegmentMember csbb:NotRatedMember 2020-09-30 0000880417 csbb:NotRatedMember 2020-09-30 0000880417 us-gaap:CommercialPortfolioSegmentMember csbb:NotRatedMember 2019-12-31 0000880417 us-gaap:CommercialRealEstatePortfolioSegmentMember csbb:NotRatedMember 2019-12-31 0000880417 us-gaap:ResidentialPortfolioSegmentMember csbb:NotRatedMember 2019-12-31 0000880417 csbb:ConstructionLandDevelopmentByPortfolioSegmentMember csbb:NotRatedMember 2019-12-31 0000880417 us-gaap:ConsumerPortfolioSegmentMember csbb:NotRatedMember 2019-12-31 0000880417 csbb:NotRatedMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:CommercialPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:ResidentialPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:CommercialPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:CommercialRealEstatePortfolioSegmentMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:ResidentialPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember csbb:ConstructionLandDevelopmentByPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:PerformingFinancingReceivableMember 2019-12-31 0000880417 us-gaap:NonperformingFinancingReceivableMember us-gaap:ResidentialPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:NonperformingFinancingReceivableMember us-gaap:ConsumerPortfolioSegmentMember 2020-09-30 0000880417 us-gaap:NonperformingFinancingReceivableMember 2020-09-30 0000880417 us-gaap:NonperformingFinancingReceivableMember us-gaap:ResidentialPortfolioSegmentMember 2019-12-31 0000880417 us-gaap:NonperformingFinancingReceivableMember 2019-12-31 0000880417 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:FairValueMeasurementsRecurringMember 2020-09-30 0000880417 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:MortgageBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:DomesticCorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:FairValueMeasurementsRecurringMember 2019-12-31 0000880417 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember csbb:ImpairedLoansFairValueDisclosureMember 2020-09-30 0000880417 us-gaap:FairValueMeasurementsNonrecurringMember csbb:ImpairedLoansFairValueDisclosureMember 2020-09-30 0000880417 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember csbb:ImpairedLoansFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:FairValueMeasurementsNonrecurringMember csbb:ImpairedLoansFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember csbb:OtherRealEstateOwnedFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:FairValueMeasurementsNonrecurringMember csbb:OtherRealEstateOwnedFairValueDisclosureMember 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember csbb:AppraisalOfCollateralMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:OtherRealEstateOwnedFairValueDisclosureMember csbb:AppraisalOfCollateralMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputDiscountRateMember srt:MinimumMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputDiscountRateMember srt:MaximumMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputDiscountRateMember srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember csbb:AppraisalOfCollateralMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2020-09-30 0000880417 csbb:OtherRealEstateOwnedFairValueDisclosureMember csbb:AppraisalOfCollateralMember us-gaap:FairValueInputsLevel3Member srt:WeightedAverageMember 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputExpectedTermMember srt:MinimumMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputExpectedTermMember srt:MaximumMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-12-31 0000880417 csbb:ImpairedLoansFairValueDisclosureMember us-gaap:ValuationTechniqueDiscountedCashFlowMember us-gaap:MeasurementInputExpectedTermMember srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-12-31 0000880417 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-09-30 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel1Member 2020-09-30 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-09-30 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel2Member 2020-09-30 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000880417 csbb:MortgageServicingRightsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-09-30 0000880417 csbb:MortgageServicingRightsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2020-09-30 0000880417 csbb:MortgageServicingRightsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-09-30 0000880417 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel1Member 2019-12-31 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel2Member 2019-12-31 0000880417 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:MortgageServicingRightsMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0000880417 csbb:MortgageServicingRightsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:FairValueInputsLevel3Member 2019-12-31 0000880417 csbb:MortgageServicingRightsMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-06-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-07-01 2020-09-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-09-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-12-31 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2020-01-01 2020-09-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-06-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-07-01 2019-09-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-09-30 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0000880417 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-09-30

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: September 30, 2020

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission File Number: 0-21714

 

CSB Bancorp, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Ohio

34-1687530

( State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

91 North Clay Street, P.O. Box 232

Millersburg, OH

44654

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (330) 674-9015

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Shares, $6.25 par value

 

CSBB

 

OTCPink

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes      No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

  

Accelerated filer

 

 

 

 

 

Non-accelerated filer

 

  

Smaller reporting company

 

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes      No  

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court.     Yes      No  

As of November 1, 2020, the registrant had 2,742,350 shares of common stock, $6.25 par value per share, outstanding.

 

 

 


 

CSB BANCORP, INC.

FORM 10-Q

QUARTER ENDED September 30, 2020

Table of Contents

 

 

 

Part I - Financial Information

 

 

 

Page

ITEM 1

FINANCIAL STATEMENTS (Unaudited)

3

 

Consolidated Balance Sheets

3

 

Consolidated Statements of Income

4

 

Consolidated Statements of Comprehensive Income

5

 

Consolidated Statements of Changes in Shareholders' Equity

6

 

Condensed Consolidated Statements of Cash Flows

7

 

Notes to Consolidated Financial Statements

8

ITEM 2

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

28

ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

35

ITEM 4

CONTROLS AND PROCEDURES

36

 

 

 

 

Part II - Other Information

 

ITEM1

Legal Proceedings

37

ITEM1A

Risk Factors

37

ITEM2

Unregistered Sales of Equity Securities and Use of Proceeds

37

ITEM3

Defaults upon Senior Securities

37

ITEM4

Mine Safety Disclosures

37

ITEM5

Other Information

37

ITEM6

Exhibits

38

 

Signatures

39

 

2


 

CSB BANCORP, INC.

PART I – FINANCIAL INFORMATION

ITEM 1. – FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

 

 

September 30,

 

 

December 31,

 

(Dollars in thousands)

 

2020

 

 

2019

 

ASSETS

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

18,269

 

 

$

17,648

 

Interest-earning deposits in other banks

 

 

179,875

 

 

 

84,369

 

Total cash and cash equivalents

 

 

198,144

 

 

 

102,017

 

Securities

 

 

 

 

 

 

 

 

Available-for-sale, at fair value

 

 

112,279

 

 

 

112,146

 

Held-to-maturity (fair value 2020-$10,120; 2019-13,950)

 

 

9,901

 

 

 

13,869

 

Equity securities

 

 

82

 

 

 

92

 

Restricted stock, at cost

 

 

4,614

 

 

 

4,614

 

Total securities

 

 

126,876

 

 

 

130,721

 

Loans held for sale

 

 

1,488

 

 

 

622

 

Loans

 

 

628,084

 

 

 

551,633

 

Less allowance for loan losses

 

 

8,355

 

 

 

7,017

 

Net loans

 

 

619,729

 

 

 

544,616

 

Premises and equipment, net

 

 

12,685

 

 

 

12,040

 

Core deposit intangible

 

 

59

 

 

 

104

 

Goodwill

 

 

4,728

 

 

 

4,728

 

Bank-owned life insurance

 

 

19,284

 

 

 

18,894

 

Accrued interest receivable and other assets

 

 

4,985

 

 

 

4,941

 

TOTAL ASSETS

 

$

987,978

 

 

$

818,683

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

Deposits

 

 

 

 

 

 

 

 

Noninterest-bearing

 

$

252,891

 

 

$

197,780

 

Interest-bearing

 

 

587,765

 

 

 

485,766

 

Total deposits

 

 

840,656

 

 

 

683,546

 

Short-term borrowings

 

 

41,645

 

 

 

38,889

 

Other borrowings

 

 

9,765

 

 

 

6,330

 

Accrued interest payable and other liabilities

 

 

4,059

 

 

 

4,442

 

Total liabilities

 

 

896,125

 

 

 

733,207

 

SHAREHOLDERS' EQUITY

 

 

 

 

 

 

 

 

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

   2,980,602 shares; outstanding 2,742,350 shares 2020 and 2019

 

 

18,629

 

 

 

18,629

 

Additional paid-in capital

 

 

9,815

 

 

 

9,815

 

Retained earnings

 

 

67,325

 

 

 

61,740

 

Treasury stock at cost:  238,252 shares 2020 and 2019

 

 

(4,780

)

 

 

(4,780

)

Accumulated other comprehensive income

 

 

864

 

 

 

72

 

Total shareholders' equity

 

 

91,853

 

 

 

85,476

 

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

 

$

987,978

 

 

$

818,683

 

 

See notes to unaudited consolidated financial statements.

3


 

 

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

(Dollars in thousands, except per share data)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

INTEREST AND DIVIDEND INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans, including fees

 

$

7,190

 

 

$

7,239

 

 

$

21,145

 

 

$

21,496

 

Taxable securities

 

 

372

 

 

 

534

 

 

 

1,462

 

 

 

1,705

 

Nontaxable securities

 

 

110

 

 

 

133

 

 

 

343

 

 

 

401

 

Other

 

 

42

 

 

 

356

 

 

 

312

 

 

 

749

 

Total interest and dividend income

 

 

7,714

 

 

 

8,262

 

 

 

23,262

 

 

 

24,351

 

INTEREST EXPENSE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

636

 

 

 

966

 

 

 

2,139

 

 

 

2,711

 

Short-term borrowings

 

 

14

 

 

 

78

 

 

 

75

 

 

 

264

 

Other borrowings

 

 

23

 

 

 

30

 

 

 

79

 

 

 

106

 

Total interest expense

 

 

673

 

 

 

1,074

 

 

 

2,293

 

 

 

3,081

 

NET INTEREST INCOME

 

 

7,041

 

 

 

7,188

 

 

 

20,969

 

 

 

21,270

 

PROVISION FOR LOAN LOSSES

 

 

377

 

 

 

285

 

 

 

1,272

 

 

 

855

 

Net interest income, after provision for loan losses

 

 

6,664

 

 

 

6,903

 

 

 

19,697

 

 

 

20,415

 

NON INTEREST INCOME

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

 

252

 

 

 

333

 

 

 

753

 

 

 

938

 

Trust services

 

 

236

 

 

 

234

 

 

 

662

 

 

 

670

 

Debit card interchange fees

 

 

433

 

 

 

377

 

 

 

1,209

 

 

 

1,093

 

Gain on sale of loans, net

 

 

567

 

 

 

132

 

 

 

1,189

 

 

 

287

 

Earnings on bank owned life insurance

 

 

131

 

 

 

120

 

 

 

390

 

 

 

326

 

Unrealized gain or (loss) on equity securities, net

 

 

(1

)

 

 

5

 

 

 

(10

)

 

 

8

 

Other income

 

 

244

 

 

 

239

 

 

 

653

 

 

 

655

 

Total noninterest income

 

 

1,862

 

 

 

1,440

 

 

 

4,846

 

 

 

3,977

 

NON INTEREST EXPENSES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

2,959

 

 

 

2,993

 

 

 

8,603

 

 

 

8,750

 

Occupancy expense

 

 

246

 

 

 

209

 

 

 

711

 

 

 

618

 

Equipment expense

 

 

172

 

 

 

128

 

 

 

505

 

 

 

408

 

Professional and director fees

 

 

232

 

 

 

316

 

 

 

843

 

 

 

963

 

Financial institutions and franchise tax expense

 

 

171

 

 

 

153

 

 

 

513

 

 

 

459

 

Marketing and public relations

 

 

96

 

 

 

149

 

 

 

289

 

 

 

405

 

Software expense

 

 

269

 

 

 

225

 

 

 

755

 

 

 

674

 

Debit card expense

 

 

165

 

 

 

142

 

 

 

451

 

 

 

401

 

Amortization of intangible assets

 

 

15

 

 

 

16

 

 

 

45

 

 

 

47

 

FDIC insurance expense

 

 

17

 

 

 

-

 

 

 

103

 

 

 

98

 

Other expenses

 

 

708

 

 

 

668

 

 

 

1,948

 

 

 

1,867

 

Total noninterest expenses

 

 

5,050

 

 

 

4,999

 

 

 

14,766

 

 

 

14,690

 

Income before income taxes

 

 

3,476

 

 

 

3,344

 

 

 

9,777

 

 

 

9,702

 

FEDERAL INCOME TAX PROVISION

 

 

676

 

 

 

649

 

 

 

1,888

 

 

 

1,881

 

NET INCOME

 

$

2,800

 

 

$

2,695

 

 

$

7,889

 

 

$

7,821

 

Basic and diluted net earnings per share

 

$

1.02

 

 

$

0.98

 

 

$

2.88

 

 

$

2.85

 

See notes to unaudited consolidated financial statements

4


 

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

(Dollars in thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net income

 

$

2,800

 

 

$

2,695

 

 

$

7,889

 

 

$

7,821

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized (losses) gains arising during the period

 

 

(202

)

 

 

275

 

 

 

955

 

 

 

1,786

 

Amortization of discount on securities transferred to held-to-maturity

 

 

17

 

 

 

15

 

 

 

47

 

 

 

45

 

Income tax effect

 

 

39

 

 

 

(61

)

 

 

(210

)

 

 

(384

)

Other comprehensive income (loss)

 

 

(146

)

 

 

229

 

 

 

792

 

 

 

1,447

 

Total comprehensive income

 

$

2,654

 

 

$

2,924

 

 

$

8,681

 

 

$

9,268

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See notes to unaudited consolidated financial statements.

5


 

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Unaudited)

 

(Dollars in thousands)

 

Common

stock

 

 

Additional

paid-in

capital

 

 

Retained

earnings

 

 

Treasury

stock

 

 

Accumulated

other

comprehensive

income (loss)

 

 

Total

 

Three Months Ended September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

18,629

 

 

$

9,815

 

 

$

65,293

 

 

$

(4,780

)

 

$

1,010

 

 

$

89,967

 

Net income

 

 

 

 

 

 

 

 

2,800

 

 

 

 

 

 

 

 

 

2,800

 

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(146

)

 

 

(146

)

Cash dividends declared, $0.28 per share