falsedesktopCSBB2020-09-30000156459020052489{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "Large accelerated filer\t☐\tAccelerated filer\t☒\nNon-accelerated filer\t☐\tSmaller reporting company\t☒\nEmerging growth company\t☐\t\t\n", "q10k_tbl_1": "\tPart I - Financial Information\t\n\t\tPage\nITEM 1 -\tFINANCIAL STATEMENTS (Unaudited)\t3\n\tConsolidated Balance Sheets\t3\n\tConsolidated Statements of Income\t4\n\tConsolidated Statements of Comprehensive Income\t5\n\tConsolidated Statements of Changes in Shareholders' Equity\t6\n\tCondensed Consolidated Statements of Cash Flows\t7\n\tNotes to Consolidated Financial Statements\t8\nITEM 2 -\tMANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS\t28\nITEM 3 -\tQUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK\t35\nITEM 4 -\tCONTROLS AND PROCEDURES\t36\n\tPart II - Other Information\t\nITEM1 -\tLegal Proceedings\t37\nITEM1A -\tRisk Factors\t37\nITEM2 -\tUnregistered Sales of Equity Securities and Use of Proceeds\t37\nITEM3 -\tDefaults upon Senior Securities\t37\nITEM4 -\tMine Safety Disclosures\t37\nITEM5 -\tOther Information\t37\nITEM6 -\tExhibits\t38\n\tSignatures\t39\n", "q10k_tbl_2": "\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nASSETS\t\t\nCash and cash equivalents\t\t\nCash and due from banks\t18269\t17648\nInterest-earning deposits in other banks\t179875\t84369\nTotal cash and cash equivalents\t198144\t102017\nSecurities\t\t\nAvailable-for-sale at fair value\t112279\t112146\nHeld-to-maturity (fair value 2020-$10120; 2019-13950)\t9901\t13869\nEquity securities\t82\t92\nRestricted stock at cost\t4614\t4614\nTotal securities\t126876\t130721\nLoans held for sale\t1488\t622\nLoans\t628084\t551633\nLess allowance for loan losses\t8355\t7017\nNet loans\t619729\t544616\nPremises and equipment net\t12685\t12040\nCore deposit intangible\t59\t104\nGoodwill\t4728\t4728\nBank-owned life insurance\t19284\t18894\nAccrued interest receivable and other assets\t4985\t4941\nTOTAL ASSETS\t987978\t818683\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\nLIABILITIES\t\t\nDeposits\t\t\nNoninterest-bearing\t252891\t197780\nInterest-bearing\t587765\t485766\nTotal deposits\t840656\t683546\nShort-term borrowings\t41645\t38889\nOther borrowings\t9765\t6330\nAccrued interest payable and other liabilities\t4059\t4442\nTotal liabilities\t896125\t733207\nSHAREHOLDERS' EQUITY\t\t\nCommon stock $6.25 par value. Authorized 9000000 shares; issued 2980602 shares; outstanding 2742350 shares 2020 and 2019\t18629\t18629\nAdditional paid-in capital\t9815\t9815\nRetained earnings\t67325\t61740\nTreasury stock at cost: 238252 shares 2020 and 2019\t(4780)\t(4780)\nAccumulated other comprehensive income\t864\t72\nTotal shareholders' equity\t91853\t85476\nTOTAL LIABILITIES AND SHAREHOLDERS' EQUITY\t987978\t818683\n", "q10k_tbl_3": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(Dollars in thousands except per share data)\t2020\t2019\t2020\t2019\nINTEREST AND DIVIDEND INCOME\t\t\t\t\nLoans including fees\t7190\t7239\t21145\t21496\nTaxable securities\t372\t534\t1462\t1705\nNontaxable securities\t110\t133\t343\t401\nOther\t42\t356\t312\t749\nTotal interest and dividend income\t7714\t8262\t23262\t24351\nINTEREST EXPENSE\t\t\t\t\nDeposits\t636\t966\t2139\t2711\nShort-term borrowings\t14\t78\t75\t264\nOther borrowings\t23\t30\t79\t106\nTotal interest expense\t673\t1074\t2293\t3081\nNET INTEREST INCOME\t7041\t7188\t20969\t21270\nPROVISION FOR LOAN LOSSES\t377\t285\t1272\t855\nNet interest income after provision for loan losses\t6664\t6903\t19697\t20415\nNON INTEREST INCOME\t\t\t\t\nService charges on deposit accounts\t252\t333\t753\t938\nTrust services\t236\t234\t662\t670\nDebit card interchange fees\t433\t377\t1209\t1093\nGain on sale of loans net\t567\t132\t1189\t287\nEarnings on bank owned life insurance\t131\t120\t390\t326\nUnrealized gain or (loss) on equity securities net\t(1)\t5\t(10)\t8\nOther income\t244\t239\t653\t655\nTotal noninterest income\t1862\t1440\t4846\t3977\nNON INTEREST EXPENSES\t\t\t\t\nSalaries and employee benefits\t2959\t2993\t8603\t8750\nOccupancy expense\t246\t209\t711\t618\nEquipment expense\t172\t128\t505\t408\nProfessional and director fees\t232\t316\t843\t963\nFinancial institutions and franchise tax expense\t171\t153\t513\t459\nMarketing and public relations\t96\t149\t289\t405\nSoftware expense\t269\t225\t755\t674\nDebit card expense\t165\t142\t451\t401\nAmortization of intangible assets\t15\t16\t45\t47\nFDIC insurance expense\t17\t0\t103\t98\nOther expenses\t708\t668\t1948\t1867\nTotal noninterest expenses\t5050\t4999\t14766\t14690\nIncome before income taxes\t3476\t3344\t9777\t9702\nFEDERAL INCOME TAX PROVISION\t676\t649\t1888\t1881\nNET INCOME\t2800\t2695\t7889\t7821\nBasic and diluted net earnings per share\t1.02\t0.98\t2.88\t2.85\n", "q10k_tbl_4": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nNet income\t2800\t2695\t7889\t7821\nOther comprehensive income (loss)\t\t\t\t\nUnrealized (losses) gains arising during the period\t(202)\t275\t955\t1786\nAmortization of discount on securities transferred to held-to-maturity\t17\t15\t47\t45\nIncome tax effect\t39\t(61)\t(210)\t(384)\nOther comprehensive income (loss)\t(146)\t229\t792\t1447\nTotal comprehensive income\t2654\t2924\t8681\t9268\n", "q10k_tbl_5": "(Dollars in thousands)\tCommon stock\tAdditional paid-in capital\tRetained earnings\tTreasury stock\tAccumulated other comprehensive income (loss)\tTotal\nThree Months Ended September 30 2020\t\t\t\t\t\t\nBalance beginning of period\t18629\t9815\t65293\t(4780)\t1010\t89967\nNet income\t0\t0\t2800\t0\t0\t2800\nOther comprehensive loss\t0\t0\t0\t0\t(146)\t(146)\nCash dividends declared $0.28 per share\t0\t0\t(768)\t0\t0\t(768)\nBalance end of period\t18629\t9815\t67325\t(4780)\t864\t91853\nNine Months Ended September 30 2020\t\t\t\t\t\t\nBalance beginning of period\t18629\t9815\t61740\t(4780)\t72\t85476\nNet income\t0\t0\t7889\t0\t0\t7889\nOther comprehensive income\t0\t0\t0\t0\t792\t792\nCash dividends declared $0.84 per share\t0\t0\t(2304)\t0\t0\t(2304)\nBalance end of period\t18629\t9815\t67325\t(4780)\t864\t91853\nThree Months Ended September 30 2019\t\t\t\t\t\t\nBalance beginning of period\t18629\t9815\t57988\t(4780)\t(194)\t81458\nNet income\t0\t0\t2695\t0\t0\t2695\nOther comprehensive income\t0\t0\t0\t0\t229\t229\nCash dividends declared $0.28 per share\t0\t0\t(768)\t0\t0\t(768)\nBalance end of period\t18629\t9815\t59915\t(4780)\t35\t83614\nNine Months Ended September 30 2019\t\t\t\t\t\t\nBalance beginning of period\t18629\t9815\t54288\t(4784)\t(1412)\t76536\nNet income\t0\t0\t7821\t0\t0\t7821\nOther comprehensive income\t0\t0\t0\t0\t1447\t1447\nIssuance of 108 treasury shares\t0\t0\t0\t4\t0\t4\nCash dividends declared $0.80 per share\t0\t0\t(2194)\t0\t0\t(2194)\nBalance end of period\t18629\t9815\t59915\t(4780)\t35\t83614\n", "q10k_tbl_6": "\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\nNET CASH FROM OPERATING ACTIVITIES\t9675\t7565\nCASH FLOWS FROM INVESTING ACTIVITIES\t\t\nSecurities:\t\t\nProceeds from repayments available-for-sale\t38716\t13431\nProceeds from repayments held-to-maturity\t7415\t5613\nPurchases available-for-sale\t(38493)\t(15984)\nPurchases held-to-maturity\t(3425)\t0\nLoan originations net of repayments\t(78380)\t(17252)\nProceeds from sale of property and equipment\t716\t0\nProperty equipment and software acquisitions\t(1957)\t(2150)\nPurchase of bank-owned life insurance\t0\t(3000)\nProceeds from sale of other real estate\t95\t0\nNet cash used in investing activities\t(75313)\t(19342)\nCASH FLOWS FROM FINANCING ACTIVITIES\t\t\nNet change in deposits\t157110\t51621\nNet change in short-term borrowings\t2756\t(2345)\nProceeds from other borrowings\t5000\t0\nRepayment of other borrowings\t(1565)\t(2072)\nCash dividends paid\t(1536)\t(1426)\nIssuance of treasury stock\t0\t4\nNet cash provided by financing activities\t161765\t45782\nNET INCREASE IN CASH AND CASH EQUIVALENTS\t96127\t34005\nCASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD\t102017\t45564\nCASH AND CASH EQUIVALENTS AT END OF PERIOD\t198144\t79569\nSUPPLEMENTAL DISCLOSURES\t\t\nCash paid during the year for:\t\t\nInterest\t2327\t3046\nIncome taxes\t1825\t2125\nNoncash financing activities:\t\t\nDividends declared\t768\t768\nLease adoption:\t\t\nRight of use lease asset\t0\t477\nLease liability\t0\t469\n", "q10k_tbl_7": "(Dollars in thousands)\tAmortized cost\tGross unrealized gains\tGross unrealized losses\tFair value\nSeptember 30 2020\t\t\t\t\nAvailable-for-sale\t\t\t\t\nU.S. Treasury security\t999\t16\t0\t1015\nMortgage-backed securities of government agencies\t75440\t1148\t(200)\t76388\nAsset-backed securities of government agencies\t868\t0\t(62)\t806\nState and political subdivisions\t25259\t563\t0\t25822\nCorporate bonds\t8486\t36\t(274)\t8248\nTotal available-for-sale\t111052\t1763\t(536)\t112279\nHeld-to-maturity\t\t\t\t\nMortgage-backed securities of government agencies\t6476\t231\t(12)\t6695\nState and political subdivisions\t3425\t0\t0\t3425\nTotal held-to-maturity\t9901\t231\t(12)\t10120\nEquity securities\t53\t29\t0\t82\nRestricted stock\t4614\t0\t0\t4614\nTotal securities\t125620\t2023\t(548)\t127095\nDecember 31 2019\t\t\t\t\nAvailable-for-sale\t\t\t\t\nU.S. Treasury security\t998\t1\t0\t999\nU.S. Government agencies\t5500\t0\t(4)\t5496\nMortgage-backed securities of government agencies\t75676\t326\t(145)\t75857\nAsset-backed securities of government agencies\t934\t0\t(17)\t917\nState and political subdivisions\t21161\t351\t(1)\t21511\nCorporate bonds\t7605\t23\t(262)\t7366\nTotal available-for-sale\t111874\t701\t(429)\t112146\nHeld-to-maturity\t\t\t\t\nU.S. Government agencies\t4999\t0\t(6)\t4993\nMortgage-backed securities of government agencies\t8870\t143\t(56)\t8957\nTotal held-to-maturity\t13869\t143\t(62)\t13950\nEquity securities\t53\t39\t0\t92\nRestricted stock\t4614\t0\t0\t4614\nTotal securities\t130410\t883\t(491)\t130802\n", "q10k_tbl_8": "(Dollars in thousands)\tAmortized cost\tFair value\nAvailable-for-sale\t\t\nDue in one year or less\t3700\t3739\nDue after one through five years\t9242\t9352\nDue after five through ten years\t17330\t17640\nDue after ten years\t80780\t81548\nTotal debt securities available-for-sale\t111052\t112279\nHeld-to-maturity\t\t\nDue in one year or less\t3425\t3425\nDue after ten years\t6476\t6695\nTotal debt securities held-to-maturity\t9901\t10120\n", "q10k_tbl_9": "\tSecurities in a continuous unrealized loss position\t\t\t\t\t\n\tLess than 12 months\t\t12 months or more\t\tTotal\t\n(Dollars in thousands)\tGross unrealized losses\tFair value\tGross unrealized losses\tFair value\tGross unrealized losses\tFair value\nSeptember 30 2020\t\t\t\t\t\t\nAvailable-for-sale\t\t\t\t\t\t\nMortgage-backed securities of government agencies\t(193)\t24097\t(7)\t900\t(200)\t24997\nAsset-backed securities of government agencies\t0\t0\t(62)\t806\t(62)\t806\nCorporate bonds\t0\t0\t(274)\t3704\t(274)\t3704\nHeld-to-maturity\t\t\t\t\t\t\nMortgage-backed securities of government agencies\t(12)\t1913\t0\t0\t(12)\t1913\nTotal temporarily impaired securities\t(205)\t26010\t(343)\t5410\t(548)\t31420\nDecember 31 2019\t\t\t\t\t\t\nAvailable-for-sale\t\t\t\t\t\t\nU.S. Government agencies\t0\t0\t(4)\t3496\t(4)\t3496\nMortgage-backed securities of government agencies\t(74)\t22702\t(71)\t8924\t(145)\t31626\nAsset-backed securities of government agencies\t0\t0\t(17)\t917\t(17)\t917\nState and political subdivisions\t0\t0\t(1)\t653\t(1)\t653\nCorporate bonds\t0\t0\t(262)\t3712\t(262)\t3712\nHeld-to-maturity\t\t\t\t\t\t\nU.S. Government agencies\t0\t0\t(6)\t4993\t(6)\t4993\nMortgage-backed securities of government agencies\t0\t0\t(56)\t3009\t(56)\t3009\nTotal temporarily impaired securities\t(74)\t22702\t(417)\t25704\t(491)\t48406\n", "q10k_tbl_10": "(Dollars in thousands)\tSeptember 30 2020\tDecember 31 2019\nCommercial 1\t211647\t137114\nCommercial real estate\t194493\t196748\nResidential real estate\t176256\t174259\nConstruction & land development\t28875\t23960\nConsumer\t18337\t19052\nTotal loans before deferred costs\t629608\t551133\nDeferred loan (fees) costs\t(1524)\t500\nTotal Loans\t628084\t551633\n", "q10k_tbl_11": "(Dollars in thousands)\tCommercial\tCommercial Real Estate\tResidential Real Estate\tConstruction & Land Development\tConsumer\tUnallocated\tTotal\nThree Months Ended September 30 2020\t\t\t\t\t\t\t\nBeginning balance\t2266\t2781\t1585\t337\t516\t350\t7835\nProvision for loan losses\t(512)\t500\t(390)\t229\t(112)\t662\t377\nCharge-offs\t(26)\t0\t0\t0\t(2)\t\t(28)\nRecoveries\t118\t40\t1\t0\t12\t\t171\nNet recoveries\t92\t40\t1\t0\t10\t\t143\nEnding balance\t1846\t3321\t1196\t566\t414\t1012\t8355\nNine Months Ended September 30 2020\t\t\t\t\t\t\t\nBeginning balance\t2408\t2153\t1152\t203\t481\t620\t7017\nProvision for loan losses\t(643)\t1127\t56\t363\t(23)\t392\t1272\nCharge-offs\t(45)\t0\t(15)\t0\t(71)\t\t(131)\nRecoveries\t126\t41\t3\t0\t27\t\t197\nNet (charge-offs) recoveries\t81\t41\t(12)\t0\t(44)\t\t66\nEnding balance\t1846\t3321\t1196\t566\t414\t1012\t8355\nThree Months Ended September 30 2019\t\t\t\t\t\t\t\nBeginning balance\t2267\t1946\t1229\t104\t341\t650\t6537\nProvision for loan losses\t91\t91\t(74)\t12\t26\t139\t285\nCharge-offs\t(20)\t0\t0\t0\t(55)\t\t(75)\nRecoveries\t5\t1\t2\t0\t21\t\t29\nNet (charge-offs) recoveries\t(15)\t1\t2\t0\t(34)\t\t(46)\nEnding balance\t2343\t2038\t1157\t116\t333\t789\t6776\nNine Months Ended September 30 2019\t\t\t\t\t\t\t\nBeginning balance\t2178\t1791\t1245\t258\t306\t129\t5907\nProvision for loan losses\t29\t246\t(93)\t(142)\t155\t660\t855\nCharge-offs\t(36)\t0\t0\t0\t(163)\t\t(199)\nRecoveries\t172\t1\t5\t0\t35\t\t213\nNet (charge-offs) recoveries\t136\t1\t5\t0\t(128)\t\t14\nEnding balance\t2343\t2038\t1157\t116\t333\t789\t6776\n", "q10k_tbl_12": "(Dollars in thousands)\tCommercial\tCommercial Real Estate\tResidential Real Estate\tConstruction\tConsumer\tUnallocated\tTotal\nSeptember 30 2020\t\t\t\t\t\t\t\nAllowance for loan losses:\t\t\t\t\t\t\t\nIndividually evaluated for impairment\t6\t20\t1\t0\t5\t0\t32\nCollectively evaluated for impairment\t1840\t3301\t1195\t566\t409\t1012\t8323\nTotal ending allowance balance\t1846\t3321\t1196\t566\t414\t1012\t8355\nLoans:\t\t\t\t\t\t\t\nLoans individually evaluated for impairment\t1944\t2394\t643\t0\t144\t\t5125\nLoans collectively evaluated for impairment\t209703\t192099\t175613\t28875\t18193\t\t624483\nTotal ending loans balance\t211647\t194493\t176256\t28875\t18337\t\t629608\nDecember 31 2019\t\t\t\t\t\t\t\nAllowance for loan losses:\t\t\t\t\t\t\t\nIndividually evaluated for impairment\t16\t17\t1\t0\t0\t0\t34\nCollectively evaluated for impairment\t2392\t2136\t1151\t203\t481\t620\t6983\nTotal ending allowance balance\t2408\t2153\t1152\t203\t481\t620\t7017\nLoans:\t\t\t\t\t\t\t\nLoans individually evaluated for impairment\t2555\t2637\t853\t0\t14\t\t6059\nLoans collectively evaluated for impairment\t134559\t194111\t173406\t23960\t19038\t\t545074\nTotal ending loans balance\t137114\t196748\t174259\t23960\t19052\t\t551133\n", "q10k_tbl_13": "(Dollars in thousands)\tUnpaid Principal Balance\tRecorded Investment with no Allowance\tRecorded Investment with Allowance\tTotal recorded investment1\tRelated Allowance\nSeptember 30 2020\t\t\t\t\t\nCommercial\t1992\t1794\t150\t1944\t6\nCommercial real estate\t2797\t2162\t235\t2397\t20\nResidential real estate\t838\t447\t196\t643\t1\nConsumer\t146\t0\t148\t148\t5\nTotal impaired loans\t5773\t4403\t729\t5132\t32\nDecember 31 2019\t\t\t\t\t\nCommercial\t2982\t2541\t16\t2557\t16\nCommercial real estate\t2952\t2471\t176\t2647\t17\nResidential real estate\t1024\t457\t396\t853\t1\nConsumer\t14\t14\t0\t14\t0\nTotal impaired loans\t6972\t5483\t588\t6071\t34\n", "q10k_tbl_14": "\tThree Months Ended September 30\t\tNine Months Ended September 30\t\n(Dollars in thousands)\t2020\t2019\t2020\t2019\nAverage recorded investment:\t\t\t\t\nCommercial\t2220\t3035\t2398\t1837\nCommercial real estate\t2553\t2767\t2553\t2413\nResidential real estate\t759\t1538\t808\t1172\nConsumer\t192\t15\t99\t11\nAverage recorded investment in impaired loans\t5723\t7355\t5858\t5433\nInterest income recognized:\t\t\t\t\nCommercial\t14\t12\t51\t49\nCommercial real estate\t3\t3\t9\t9\nResidential real estate\t7\t20\t26\t43\nConsumer\t4\t1\t5\t1\nInterest income recognized on a cash basis on impaired loans\t28\t36\t91\t102\n", "q10k_tbl_15": "\t\tAccruing Loans\t\t\t\t\t\n(Dollars in thousands)\tCurrent\t30-59 Days Past Due\t60-89 Days Past Due\t90 Days + Past Due\tNon- Accrual\tTotal Past Due and Non- Accrual\tTotal Loans\nSeptember 30 2020\t\t\t\t\t\t\t\nCommercial\t210202\t125\t25\t0\t1295\t1445\t211647\nCommercial real estate\t192344\t36\t0\t0\t2113\t2149\t194493\nResidential real estate\t175507\t67\t18\t45\t619\t749\t176256\nConstruction & land development\t28875\t0\t0\t0\t0\t0\t28875\nConsumer\t18219\t61\t28\t0\t29\t118\t18337\nTotal Loans\t625147\t289\t71\t45\t4056\t4461\t629608\nDecember 31 2019\t\t\t\t\t\t\t\nCommercial\t135707\t15\t0\t67\t1325\t1407\t137114\nCommercial real estate\t194157\t186\t0\t0\t2405\t2591\t196748\nResidential real estate\t173023\t264\t277\t174\t521\t1236\t174259\nConstruction & land development\t23960\t0\t0\t0\t0\t0\t23960\nConsumer\t18640\t365\t0\t0\t47\t412\t19052\nTotal Loans\t545487\t830\t277\t241\t4298\t5646\t551133\n", "q10k_tbl_16": "(Dollars in thousands)\tTotal loan balances\tDeferred # of Loans\tTotal COVID Loan Deferrals\tPercent of Portfolio Modified\tRemaining Balance in Deferment\tRemaining # of loans in Deferment\nSeptember 30 2020\t\t\t\t\t\t\nCommercial:\t\t\t\t\t\t\nCommercial\t211647\t64\t9995\t5%\t119\t2\nCommercial real estate\t194493\t73\t56789\t29\t12341\t3\nConstruction\t28875\t3\t462\t2\t0\t0\nTotal Commercial\t435015\t140\t67246\t15\t12460\t5\nConsumer:\t\t\t\t\t\t\nResidential real estate\t176256\t34\t3674\t2\t499\t6\nRV\t9118\t14\t316\t3\t68\t2\nOther consumer\t9219\t16\t208\t2\t12\t1\nTotal Consumer\t194593\t64\t4198\t2\t579\t9\nTotal Loans\t629608\t204\t71444\t11%\t13039\t14\n", "q10k_tbl_17": "(Dollars in thousands)\tNumber of loans restructured\tPre- Modification Recorded Investment\tPost- Modification Recorded Investment\nNine Months Ended September 30 2020\t\t\t\nCommercial\t5\t181\t181\nCommercial real estate\t1\t80\t80\nResidential real estate\t1\t66\t66\nConsumer\t6\t146\t146\nTotal Restructured Loans\t13\t473\t473\nNine Months Ended September 30 2019\t\t\t\nConsumer\t1\t17\t17\nTotal Restructured Loans\t1\t17\t17\n", "q10k_tbl_18": "(Dollars in thousands)\tPass\tSpecial Mention\tSubstandard\tDoubtful\tNot Rated\tTotal\nSeptember 30 2020\t\t\t\t\t\t\nCommercial\t194344\t2820\t12946\t0\t1537\t211647\nCommercial real estate\t171173\t3682\t17876\t0\t1762\t194493\nResidential real estate\t177\t0\t66\t0\t176013\t176256\nConstruction & land development\t22288\t88\t592\t0\t5907\t28875\nConsumer\t0\t0\t56\t0\t18281\t18337\nTotal\t387982\t6590\t31536\t0\t203500\t629608\nDecember 31 2019\t\t\t\t\t\t\nCommercial\t110731\t15040\t10295\t0\t1048\t137114\nCommercial real estate\t174045\t11546\t9994\t0\t1163\t196748\nResidential real estate\t183\t0\t237\t0\t173839\t174259\nConstruction & land development\t19423\t104\t0\t0\t4433\t23960\nConsumer\t0\t0\t73\t0\t18979\t19052\nTotal\t304382\t26690\t20599\t0\t199462\t551133\n", "q10k_tbl_19": "(Dollars in thousands)\tPerforming\tNon- Performing\tTotal\nSeptember 30 2020\t\t\t\nCommercial\t1537\t0\t1537\nCommercial real estate\t1762\t0\t1762\nResidential real estate\t175493\t520\t176013\nConstruction & land development\t5907\t0\t5907\nConsumer\t18252\t29\t18281\nTotal\t202951\t549\t203500\nDecember 31 2019\t\t\t\nCommercial\t1048\t0\t1048\nCommercial real estate\t1163\t0\t1163\nResidential real estate\t173407\t432\t173839\nConstruction & land development\t4433\t0\t4433\nConsumer\t18979\t0\t18979\nTotal\t199030\t432\t199462\n", "q10k_tbl_20": "\tRemaining Contractual Maturity Overnight and Continuous\t\n\tSeptember 30\tDecember 31\n(Dollars in thousands)\t2020\t2019\nSecurities of U.S. Government Agencies and mortgage-backed securities of government agencies pledged fair value\t41840\t39058\nRepurchase agreements\t41645\t38889\n", "q10k_tbl_21": "(Dollars in thousands)\tLevel I\tLevel II\tLevel III\tTotal\nSeptember 30 2020\t\t\t\t\nAssets:\t\t\t\t\nSecurities available-for-sale\t\t\t\t\nU.S. Treasury security\t1015\t0\t0\t1015\nMortgage-backed securities of government agencies\t0\t76388\t0\t76388\nAsset-backed securities of government agencies\t0\t806\t0\t806\nState and political subdivisions\t0\t25822\t0\t25822\nCorporate bonds\t0\t8248\t0\t8248\nTotal available-for-sale securities\t1015\t111264\t0\t112279\nEquity securities\t36\t0\t0\t36\nDecember 31 2019\t\t\t\t\nAssets:\t\t\t\t\nSecurities available-for-sale\t\t\t\t\nU.S. Treasury security\t999\t0\t0\t999\nU.S. Government agencies\t0\t5496\t0\t5496\nMortgage-backed securities of government agencies\t0\t75857\t0\t75857\nAsset-backed securities of government agencies\t0\t917\t0\t917\nState and political subdivisions\t0\t21511\t0\t21511\nCorporate bonds\t0\t7366\t0\t7366\nTotal available-for-sale securities\t999\t111147\t0\t112146\nEquity securities\t46\t0\t0\t46\n", "q10k_tbl_22": "(Dollars in thousands)\tLevel I\tLevel II\tLevel III\tTotal\nSeptember 30 2020\t\t\t\t\nAssets measured on a nonrecurring basis:\t\t\t\t\nImpaired loans\t0\t0\t11\t11\nDecember 31 2019\t\t\t\t\nAssets measured on a nonrecurring basis:\t\t\t\t\nImpaired loans\t0\t0\t553\t553\nOther real estate owned\t0\t0\t99\t99\n", "q10k_tbl_23": "\tQuantitative Information about Level III Fair Value Measurements\t\t\t\n(Dollars in thousands)\tFair Value Estimate\tValuation Techniques\tUnobservable Input\tRange (Weighted Average)\nSeptember 30 2020\t\t\t\t\nImpaired loans\t11\tAppraisal of collateral 1\tAppraisal adjustments 2\t-20%\n\t\t\tLiquidation expense 2\t-10%\nDecember 31 2019\t\t\t\t\nImpaired loans\t553\tDiscounted cash flow\tRemaining term\t3.9 yrs to 26.9 yrs / (16 yrs)\n\t\t\tDiscount rate\t3.5% to 6.0% / (5.3%)\nOther real estate owned\t99\tAppraisal of collateral 1\tAppraisal adjustments 2\t-33%\n\t\t\tLiquidation expense 2\t-10%\n", "q10k_tbl_24": "(Dollars in thousands)\tCarrying Value\tLevel I\tLevel II\tLevel III\tFair Value\nSeptember 30 2020\t\t\t\t\t\nFinancial assets\t\t\t\t\t\nCash and cash equivalents\t198144\t198144\t0\t0\t198144\nSecurities available-for-sale\t112279\t1015\t111264\t0\t112279\nSecurities held-to-maturity\t9901\t0\t10120\t0\t10120\nEquity securities\t82\t36\t0\t46\t82\nRestricted stock\t4614\tNA\tN/A\tN/A\tN/A\nLoans held for sale\t1488\t1488\t0\t0\t1488\nNet loans\t619729\t0\t0\t618607\t618607\nBank-owned life insurance\t19284\t19284\t0\t0\t19284\nAccrued interest receivable\t2022\t2022\t0\t0\t2022\nMortgage servicing rights\t430\t0\t0\t430\t430\nFinancial liabilities\t\t\t\t\t\nDeposits\t840656\t714920\t0\t127123\t842043\nShort-term borrowings\t41645\t41645\t0\t0\t41645\nOther borrowings\t9765\t0\t0\t9896\t9896\nAccrued interest payable\t93\t93\t0\t0\t93\nDecember 31 2019\t\t\t\t\t\nFinancial assets\t\t\t\t\t\nCash and cash equivalents\t102017\t102017\t0\t0\t102017\nSecurities available-for-sale\t112146\t999\t111147\t0\t112146\nSecurities held-to-maturity\t13869\t0\t13950\t0\t13950\nEquity securities\t92\t46\t0\t46\t92\nRestricted stock\t4614\tN/A\tN/A\tN/A\tN/A\nLoans held for sale\t622\t622\t0\t0\t622\nNet loans\t544616\t0\t0\t542981\t542981\nBank-owned life insurance\t18894\t18894\t0\t0\t18894\nAccrued interest receivable\t1641\t1641\t0\t0\t1641\nMortgage servicing rights\t328\t0\t0\t328\t328\nFinancial liabilities\t\t\t\t\t\nDeposits\t683546\t555985\t0\t127440\t683425\nShort-term borrowings\t38889\t38889\t0\t0\t38889\nOther borrowings\t6330\t0\t0\t6273\t6273\nAccrued interest payable\t127\t127\t0\t0\t127\n", "q10k_tbl_25": "(Dollars in thousands)\tPretax\tTax Effect\tAfter-tax\nThree Months Ended September 30 2020\t\t\t\nBalance beginning of period\t1279\t(269)\t1010\nUnrealized holding loss on available-for-sale securities arising during the period\t(202)\t43\t(159)\nAmortization of held-to-maturity discount resulting from transfer\t17\t(4)\t13\nTotal other comprehensive loss\t(185)\t39\t(146)\nBalance end of period\t1094\t(230)\t864\nNine Months Ended September 30 2020\t\t\t\nBalance beginning of period\t92\t(20)\t72\nUnrealized holding gain on available-for-sale securities arising during the period\t955\t(200)\t755\nAmortization of held-to-maturity discount resulting from transfer\t47\t(10)\t37\nTotal other comprehensive income\t1002\t(210)\t792\nBalance end of period\t1094\t(230)\t864\nThree Months Ended September 30 2019\t\t\t\nBalance beginning of period\t(245)\t51\t(194)\nUnrealized holding gain on available-for-sale securities arising during the period\t275\t(58)\t217\nAmortization of held-to-maturity discount resulting from transfer\t15\t(3)\t12\nTotal other comprehensive income\t290\t(61)\t229\nBalance end of period\t45\t(10)\t35\nNine Months Ended September 30 2019\t\t\t\nBalance beginning of period\t(1786)\t374\t(1412)\nUnrealized holding gain on available-for-sale securities arising during the period\t1786\t(374)\t1412\nAmortization of held-to-maturity discount resulting from transfer\t45\t(10)\t35\nTotal other comprehensive income\t1831\t(384)\t1447\nBalance end of period\t45\t(10)\t35\n", "q10k_tbl_26": "\tSeptember 30\tDecember 31\tSeptember 30\n(Dollars in thousands)\t2020\t2019\t2019\nNon-performing loans\t4102\t4539\t4419\nOther real estate\t0\t99\t99\nRepossessed assets\t0\t20\t0\nAllowance for loan losses\t8355\t7017\t6776\nTotal loans\t628084\t551633\t566213\nAllowance for loan losses as a percentage of total loans\t1.33%\t1.27%\t1.20%\nAllowance for loan losses to total nonperforming loans\t2.0x\t1.5x\t1.5x\n", "q10k_tbl_27": "\tFor the Three Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n(Dollars in thousands)\tAverage balance1\tInterest\tAverage rate2\tAverage balance1\tInterest\tAverage rate2\nASSETS\t\t\t\t\t\t\nFederal funds sold\t0\t0\t0\t393\t2\t2.02%\nInterest-earning deposits\t172857\t42\t0.10%\t59681\t354\t2.35\nTaxable securities\t97723\t372\t1.51\t87091\t534\t2.43\nTax-exempt securities 4\t20673\t139\t2.68\t23494\t168\t2.84\nLoans 34\t635124\t7197\t4.51\t554957\t7244\t5.18\nTotal interest-earning assets\t926377\t7750\t3.33%\t725616\t8302\t4.54%\nNoninterest-earning assets\t53429\t\t\t47866\t\t\nTOTAL ASSETS\t979806\t\t\t773482\t\t\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\t\t\t\t\nInterest-bearing demand deposits\t223187\t85\t0.15%\t141260\t175\t0.49%\nSavings deposits\t232121\t72\t0.12\t191124\t236\t0.49\nTime deposits\t125028\t479\t1.52\t124888\t555\t1.76\nBorrowed funds\t51345\t37\t0.29\t43335\t108\t0.99\nTotal interest-bearing liabilities\t631681\t673\t0.42%\t500607\t1074\t0.85%\nNoninterest-bearing demand deposits\t252952\t\t\t186710\t\t\nOther liabilities\t3764\t\t\t3217\t\t\nShareholders' Equity\t91409\t\t\t82948\t\t\nTOTAL LIABILITIES AND SHAREHOLDERS' EQUITY\t979806\t\t\t773482\t\t\nTaxable equivalent net interest income\t\t7077\t\t\t7228\t\nTax equivalent adjustment\t\t(36)\t\t\t(40)\t\nNet interest income\t\t7041\t\t\t7188\t\nNet interest margin\t\t\t3.02%\t\t\t3.93%\nTax equivalent adjustment\t\t\t0.02\t\t\t0.02\nNet interest margin-taxable equivalent\t\t\t3.04%\t\t\t3.95%\nTaxable equivalent net interest spread\t\t\t2.91%\t\t\t3.69%\n", "q10k_tbl_28": "\tFor the Nine Months Ended September 30\t\t\t\t\t\n\t2020\t\t\t2019\t\t\n(Dollars in thousands)\tAverage balance1\tInterest\tAverage rate2\tAverage balance1\tInterest\tAverage rate2\nASSETS\t\t\t\t\t\t\nFederal funds sold\t0\t0\t0\t335\t6\t2.23%\nInterest-earning deposits in other banks\t122382\t312\t0.34%\t42087\t743\t2.36\nTaxable securities\t101107\t1462\t1.93\t87364\t1705\t2.61\nTax-exempt securities4\t20637\t435\t2.82\t23317\t508\t2.92\nLoans34\t605767\t21162\t4.67\t551157\t21507\t5.22\nTotal earning assets\t849893\t23371\t3.66%\t704260\t24469\t4.65%\nOther assets\t52101\t\t\t45699\t\t\nTOTAL ASSETS\t901994\t\t\t749959\t\t\nLIABILITIES AND SHAREHOLDERS' EQUITY\t\t\t\t\t\t\nInterest-bearing demand deposits\t190490\t308\t0.22%\t129187\t432\t0.45%\nSavings deposits\t216463\t270\t0.17\t188530\t746\t0.53\nTime deposits\t126229\t1561\t1.65\t122638\t1533\t1.67\nOther borrowed funds\t48901\t154\t0.42\t44506\t370\t1.11\nTotal interest bearing liabilities\t582083\t2293\t0.52%\t484861\t3081\t0.85%\nNon-interest bearing demand deposits\t226874\t\t\t181585\t\t\nOther liabilities\t3729\t\t\t3054\t\t\nShareholders' Equity\t89308\t\t\t80459\t\t\nTOTAL LIABILITIES AND SHAREHOLDERS' EQUITY\t901994\t\t\t749959\t\t\nTaxable equivalent net interest income\t\t21078\t\t\t21388\t\nTax equivalent adjustment\t\t(109)\t\t\t(118)\t\nNet interest income\t\t20969\t\t\t21270\t\nNet interest margin\t\t\t3.29%\t\t\t4.04%\nTax equivalent adjustment\t\t\t0.02\t\t\t0.02\nNet interest margin-taxable equivalent\t\t\t3.31%\t\t\t4.06%\nTaxable equivalent net interest spread\t\t\t3.14%\t\t\t3.80%\n", "q10k_tbl_29": "\tCapital Ratios\t\n\tSeptember 30 2020\tDecember 31 2019\nCommon Equity Tier 1 Capital To Risk Weighted Assets\t\t\nConsolidated\t15.8%\t14.3%\nBank\t15.3%\t14.1%\nTier 1 Capital To Risk Weighted Assets Ratio\t\t\nConsolidated\t15.8%\t14.3%\nBank\t15.3%\t14.1%\nTotal Capital To Risk Weighted Assets Ratio\t\t\nConsolidated\t17.0%\t15.5%\nBank\t16.5%\t15.3%\nTier 1 Leverage Ratio\t\t\nConsolidated\t8.9%\t10.0%\nBank\t8.6%\t9.9%\n", "q10k_tbl_30": "(Dollars in millions)\tSeptember 30 2020\tDecember 31 2019\tChange\nCash and cash equivalents\t198\t102\t96\nAvailable from FHLB\t97\t97\t0\nUnpledged AFS securities at fair market value\t46\t61\t(15)\n\t341\t260\t81\nNet deposits and short-term liabilities\t822\t673\t149\nLiquidity ratio\t41.5%\t38.6%\t\nMinimum board approved liquidity ratio\t20.0\t20.0\t\n", "q10k_tbl_31": "September 30 2020\t\t\t\t\t\n(Dollars in thousands)\t\t\t\t\t\nChange in Interest Rates (basis points)\tNet Interest Income\tDollar Change\tPercentage Change\tBoard Policy Limits\t\n+400\t28987\t2100\t7.8%\t+/- 25\t%\n+300\t28440\t1553\t5.8\t+/-15\t\n+200\t27916\t1029\t3.8\t+/-10\t\n+100\t27452\t565\t2.1\t+/-5\t\n0\t26887\t0\t0\t0\t\n-100\t26653\t(234)\t(0.9)\t+/-5\t\n-200\t26430\t(457)\t(1.7)\t+/-10\t\nDecember 31 2019\t\t\t\t\t\n+400\t30266\t1481\t5.1%\t+/- 25\t%\n+300\t29958\t1173\t4.1\t+/-15\t\n+200\t29599\t814\t2.8\t+/-10\t\n+100\t29208\t423\t1.5\t+/-5\t\n0\t28785\t0\t0\t0\t\n-100\t27955\t(830)\t(2.9)\t+/-5\t\n-200\t26767\t(2018)\t(7.0)\t+/-10\t\n", "q10k_tbl_32": "Exhibit Number\tDescription of Document\n3.1\tAmended Articles of Incorporation of CSB Bancorp Inc. (incorporated by reference to the Registrant's Quarterly Report on Form 10-Q filed August 6 2004 Exhibit 3.1 film number 000-21714).\n3.1.1\tAmended form of Article Fourth of Amended Articles of Incorporation as effective April 9 1998 (incorporated by reference to registrant's Annual Report on Form 10-K filed on March 30 1999 Exhibit 3.1.1 file number 000-21714).\n3.2\tCode of Regulations of CSB Bancorp Inc. (incorporated by reference to the Registrant's Form 10-SB).\n3.2.1\tAmended Article VIII of the Code of Regulations of CSB Bancorp Inc. (incorporated by reference to Registrant's Form DEF 14a filed on March 25 2009 Appendix A film number 09703970).\n4.0\tDescription of Capital Stock (incorporated by reference to registrants Annual Report on Form 10-K filed on March 16 2020 Exhibit 4.0 file number 000-21714).\n11\tStatement Regarding Computation of Per Share Earnings.\n31.1\tRule 13a-14(a)/15d-14(a) Chief Executive Officer's Certification.\n31.2\tRule 13a-14(a)/15d-14(a) Chief Financial Officer's Certification.\n32.1\tSection 1350 Chief Executive Officer's Certification.\n32.2\tSection 1350 Chief Financial Officer's Certification.\n101\tThe following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30 2020 formatted in Inline XBRL: (i) Consolidated Balance Sheets (ii) Consolidated Statements of Net Loss and Comprehensive Loss (iii) Consolidated Statements of Stockholders' Equity (iv) Consolidated Statements of Cash Flows and (v) Notes to Consolidated Financial Statements tagged as blocks of text and including detailed tags.\n104\tCover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).\n"}{"bs": "q10k_tbl_2", "is": "q10k_tbl_3", "cf": "q10k_tbl_6"}None
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.