CSB Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017
January 25, 2018 at 04:00 pm EST
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CSB Bancorp, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended Dec. 31, 2017. For the quarter, the company reported net interest income of $6,436,000, income before income tax of $2,680,000, net income of $1,779,000 or basic and diluted per share of $0.65, ROA of 0.99%, ROE of 10.02% compared to the net interest income of $5,931,000, income before income tax of $2,833,000, net income of $1,953,000 or basic and diluted per share of $0.72, ROA of 1.17%, ROE of 11.76% for the same quarter a year ago. Book value per share was $25.72 against $23.85 a year ago. Total interest and dividend income was $7,014,000 against $6,295,000 a year ago.
For the year, the company reported net interest income of $24,452,000, income before income tax of $10,331,000, net income of $7,101,000 or basic and diluted per share of $2.59, ROA of 1.02%, ROE of 10.33% compared to the net interest income of $22,159,000, income before income tax of $9,707,000, net income of $6,738,000 or basic and diluted per share of $2.46, ROA of 1.03%, ROE of 10.44% for the previous year. Total interest and dividend income was $26,440,000 against $23,632,000 a year ago.
For the fourth quarter of 2017, the company reported net charge-offs of $12,000 against net recoveries of $289,000 a year ago.
CSB Bancorp, Inc. is a financial holding company. The Company operates through its wholly owned subsidiary, Commercial and Savings Bank of Millersburg, Ohio (the Bank). The Company operates primarily through the Bank and CSB Investment Services, LLC, providing a wide range of banking, trust, financial, and brokerage services to corporate, institutional, and individual customers throughout northeast Ohio. The Bank provides retail and commercial banking services to its customers, including checking and savings accounts, time deposits, individual retirement accounts (IRAs), safe deposit facilities, personal loans, commercial loans, real estate mortgage loans, installment loans, night depository facilities, brokerage, and trust services. The Bank provides residential real estate, commercial real estate, commercial, and consumer loans to customers located primarily in Holmes, Stark, Tuscarawas, Wayne, and portions of surrounding counties in Ohio.
CSB Bancorp, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended Dec. 31, 2017; Reports Net Charge-Offs for the Fourth Quarter of 2017