CSB Bancorp, Inc. reported a significant increase in financial performance for the third quarter of 2025, with net income rising to $4.2 million, or $1.57 per share, compared to $3.1 million, or $1.18 per share, in the same period last year. This represents a 32% increase in net income year-over-year, driven primarily by a $1.7 million increase in net interest income and a reduced provision for credit losses. For the nine months ending September 30, 2025, net income reached $11.5 million, up from $7.7 million in the prior year, reflecting a 49% increase.
Total assets for CSB Bancorp increased by $57 million to $1.25 billion as of September 30, 2025, compared to $1.19 billion at the end of 2024. The growth in assets was attributed to a $71 million increase in net loans, which rose to $801 million, driven by a 16% increase in commercial and commercial real estate loans. However, the company experienced a decrease in construction loans, which fell by 26%. The allowance for credit losses also increased to $8.7 million, reflecting the growth in the loan portfolio.
In terms of operational metrics, total deposits increased by $52 million, or 5%, to $1.1 billion, with interest-bearing deposits rising significantly. The company reported a decrease in noninterest-bearing deposits, indicating a shift in customer preferences towards interest-bearing accounts amid rising rates. Nonperforming loans decreased to $746,000, or 0.09% of total loans, down from $1.7 million, or 0.23%, at the end of 2024, suggesting improved credit quality.
CSB Bancorp's strategic focus on enhancing its loan portfolio and managing credit risk appears to be yielding positive results. The company has maintained a strong capital position, with total shareholders' equity increasing to $125 million, or 10% of total assets. The outlook remains cautiously optimistic, with management noting that while economic conditions present challenges, the bank is well-positioned to navigate these uncertainties and continue its growth trajectory. The company has also indicated that it meets all regulatory capital requirements, reinforcing its stability in the current economic environment.
About CSB Bancorp, Inc.
CSB Bancorp, Inc. is a financial holding company operating primarily through its wholly owned subsidiary, The Commercial and Savings Bank of Millersburg, Ohio. It provides retail and commercial banking services, including loans, deposits, trust, and brokerage services to customers in northeast Ohio. The company emphasizes community banking, risk management, regulatory compliance, and cybersecurity to deliver stable financial services and support local economic growth.
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