CSB Bancorp, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
October 24, 2018 at 08:00 am EDT
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CSB Bancorp, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total interest and dividend income of $7,572,000 against $6,766,000 a year ago. Net interest income was $6,801,000 against $6,204,000 a year ago. Net interest income after provision for loan losses was $6,477,000 against $5,924,000 a year ago. Income before income tax was $3,014,000 against $2,692,000 a year ago. Net income was $2,432,000 against $1,866,000 a year ago. Net income per basic and diluted share was $0.88 against $0.68 a year ago. Return on average common equity was 13.07% against 10.62% a year ago. Return on average assets was 1.34% against 1.05% a year ago.
For the nine months, the company reported total interest and dividend income of $21,865,000 against $19,425,000 a year ago. Net interest income was $19,842,000 against $18,016,000 a year ago. Net interest income after provision for loan losses was $18,870,000 against $17,051,000 a year ago. Income before income tax was $8,564,000 against $7,651,000 a year ago. Net income was $6,920,000 against $5,322,000 a year ago. Net income per basic and diluted share was $2.52 against $1.94 a year ago. Return on average assets was 1.30% against 1.04% a year ago. Return on average common equity was 12.79% against 10.44% a year ago. Book value/common share was $26.94 against $25.47 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.