CSB Bancorp (CSBB) boosts Q1 2026 earnings and net interest margin

Rhea-AI Filing Summary

CSB Bancorp reported stronger quarterly results for the three months ended March 31, 2026. Net income rose to $4.4 million, up from $3.6 million a year earlier, with earnings per share increasing to $1.69 from $1.37. Net interest income grew to $11.5 million as higher loan balances and better yields lifted the net interest margin to 3.86% from 3.47%. Loans expanded to $852.7 million and deposits were $1.10 billion, while total assets were $1.27 billion. Asset quality remained strong: nonperforming loans were $1.0 million, or 0.12% of total loans, and the allowance for credit losses was $12.9 million, or 1.52% of loans. Return on average assets reached 1.42% and return on average equity was 14.03%, reflecting improved profitability despite higher operating expenses.

Positive

• Stronger profitability: Q1 2026 net income increased to $4.4 million from $3.6 million, with EPS up to $1.69 and pre-provision net revenue rising 23%, supported by higher net interest income and margin expansion.
• Solid asset quality and reserves: Nonperforming loans remained low at $1.0 million (0.12% of loans), while the allowance for credit losses increased to $12.9 million, or 1.52% of total loans, with negligible net charge-offs.

Negative

• None.

Insights

Banking sector analyst

CSB Bancorp delivered higher earnings with solid credit quality and stronger margins.

CSB Bancorp increased Q1 2026 net income to $4.4M from $3.6M, driven mainly by a $1.8M rise in net interest income. The net interest margin improved to 3.86% as loan balances grew and asset yields rose faster than funding costs.

Credit metrics stayed conservative. The allowance for credit losses reached $12.9M, or 1.52% of total loans, while nonperforming loans were just $1.0M, or 0.12% of loans. Net charge-offs were minimal at $7K, supporting management’s view that reserves are adequate.

Profitability strengthened with return on average assets at 1.42% and return on average equity at 14.03%. Pre-provision net revenue rose 23%, although noninterest expenses increased, particularly salaries and software. Subsequent filings may provide more detail on how expense growth tracks against revenue momentum.

Key Figures

Total assets: $1.27B Net income: $4.44M Earnings per share: $1.69/share +5 more

8 metrics

Total assets $1.27B March 31, 2026 balance sheet total assets of $1,265,503K

Net income $4.44M Three months ended March 31, 2026 net income of $4,444K

Earnings per share $1.69/share Basic and diluted EPS for Q1 2026

Net interest income $11.47M Q1 2026 net interest income per income statement

Net interest margin 3.86% Q1 2026 GAAP net interest margin on average earning assets

Total loans $852.7M Gross loans at March 31, 2026 before allowance

Allowance for credit losses $12.95M Allowance for credit losses on loans at March 31, 2026

Nonperforming loans $1.02M Total nonperforming loans at March 31, 2026

Key Terms

allowance for credit losses, nonperforming loans, net interest margin, pre-provision net revenue, +2 more

6 terms

allowance for credit losses financial

"The allowance for credit losses for loans increased $477 thousand from December 31, 2025 to $12.9 million."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

nonperforming loans financial

"Nonperforming loans increased $366 thousand to $1.0 million, or 0.12%, of total loans from $652 thousand."

Nonperforming loans are loans on which borrowers have stopped making the scheduled interest or principal payments for an extended period (commonly 90 days or more) or are otherwise in serious danger of default. Think of them as IOUs that aren’t being repaid: they tie up a lender’s money, reduce future interest income, and force the lender to hold extra reserves or take losses. For investors, a rising share of nonperforming loans signals weakening credit quality, higher potential losses, and greater risk to a bank’s profitability and capital.

net interest margin financial

"Net interest margin, (GAAP) was 3.86% compared with 3.47% for the same period in 2025."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

pre-provision net revenue financial

"Pre-provision net revenue (a non-GAAP measure) totaled $6 million for the quarter ended March 31, 2026, an increase of 23%."

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

tangible common equity financial

"The Company maintained a strong capital position with tangible common equity to tangible assets of 9.9% at March 31, 2026."

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

accumulated other comprehensive loss financial

"Total accumulated other comprehensive loss ("AOCL") increased during the three months ended March 31, 2026 due to higher U.S. Treasury rates."

Accumulated other comprehensive loss is the running negative total of certain gains and losses that companies record outside their regular profit-and-loss statement, such as changes in the value of some investments, pension adjustments, or currency translation effects. It matters to investors because it reduces shareholders’ equity and reveals economic swings that haven’t affected reported net income yet — like a side ledger showing pending ups and downs that could influence future cash flow or balance-sheet strength.

Earnings Snapshot

Net income: $4.4M

Q1 2026

Net income $4.4M +$0.8M YoY

Net interest income $11.5M +$1.8M YoY

Net interest margin 3.86% +0.39 pts YoY

Pre-provision net revenue $6.0M +23% YoY

Return on average assets 1.42% up from 1.22%

Return on average equity 14.03% up from 12.58%

10-Q Quarterly Reports: What Changes Quarter to Quarter →

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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: March 31, 2026

OR

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

Commission File Number: 000-21714

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(g) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Shares, $6.25 par value		CSBB		OTCID

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 May 1, 2026, the registrant had 2,627,015 shares of common stock, $6.25 par value per share, outstanding.

CSB BANCORP, INC.

FORM 10-Q

QUARTER ENDED March 31, 2026

Table of Contents

	Part I - Financial Information
		Page
ITEM 1 –	FINANCIAL STATEMENTS (Unaudited)
	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	34
ITEM 4 –	CONTROLS AND PROCEDURES	35
	Part II - Other Information
ITEM 1 –	Legal Proceedings	36
ITEM 1A –	Risk Factors	36
ITEM 2 –	Unregistered Sales of Equity Securities and Use of Proceeds	36
ITEM 3 –	Defaults upon Senior Securities	36
ITEM 4 –	Mine Safety Disclosures	36
ITEM 5 –	Other Information	36
ITEM 6 –	Exhibits	37
	Signatures	38

2

CSB BANCORP, INC.

PART I – FINANCIAL INFORMATION

ITEM 1. – FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

(Unaudited)

		March 31,				December 31,
(Dollars in thousands, except per share data)		2026				2025
ASSETS
Cash and cash equivalents
Cash and due from banks		$	17,738			$	17,731
Interest-earning deposits in other banks			35,444				81,332
Federal funds sold			2,026				247
Total cash and cash equivalents			55,208				99,310
Securities
Available-for-sale, at fair value			128,831				132,217
Held-to-maturity; fair value of $156,463 in 2026 and $161,052 in 2025 ($0 credit loss allowance for 2026 and 2025)			179,155				183,145
Equity securities			302				279
Restricted stock, at cost			1,645				1,645
Total securities			309,933				317,286
Loans held for sale			546				213
Loans			852,718				829,778
Less allowance for credit losses			12,947				12,470
Net loans			839,771				817,308
Premises and equipment, net			13,663				13,577
Bank-owned life insurance			31,423				31,168
Goodwill			4,728				4,728
Accrued interest receivable and other assets			10,231				9,146
TOTAL ASSETS		$	1,265,503			$	1,292,736
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits
Noninterest-bearing		$	272,934			$	288,947
Interest-bearing			828,887				838,968
Total deposits			1,101,821				1,127,915
Short-term borrowings			27,648				31,517
Other borrowings			892				917
Allowance for credit losses on off-balance sheet commitments			607				596
Accrued interest payable and other liabilities			5,332				5,511
TOTAL LIABILITIES			1,136,300				1,166,456
SHAREHOLDERS' EQUITY
Common stock, $6.25 par value. Authorized 9,000,000 shares; issued    2,980,602 shares; outstanding 2,627,015 shares in 2026 and 2025			18,629				18,629
Additional paid-in capital			9,815				9,815
Retained earnings			115,461				112,146
Treasury stock at cost: 353,587 shares in 2026 and 2025			(9,293	)			(9,293	)
Accumulated other comprehensive loss			(5,409	)			(5,017	)
TOTAL SHAREHOLDERS' EQUITY			129,203				126,280
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$	1,265,503			$	1,292,736

See notes to unaudited consolidated financial statements.

3

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

		Three Months Ended March 31,
(Dollars in thousands, except per share data)		2026				2025
INTEREST AND DIVIDEND INCOME
Loans, including fees		$	12,526			$	10,875
Taxable securities			1,962				1,795
Nontaxable securities			64				75
Other			418				536
Total interest and dividend income			14,970				13,281
INTEREST EXPENSE
Deposits			3,438				3,527
Short-term borrowings			63				67
Other borrowings			4				6
Total interest expense			3,505				3,600
NET INTEREST INCOME			11,465				9,681
CREDIT LOSS EXPENSE
Provision for credit loss expense - loans			484				408
Provision for (recovery of) credit loss expense - off-balance sheet commitments			11				(6	)
Total provision for credit loss expense			495				402
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE			10,970				9,279
NONINTEREST INCOME
Service charges on deposit accounts			306				295
Trust services			318				278
Debit card interchange fees			543				515
Credit card fees			191				150
Gain on sale of loans, net			52				49
Earnings on bank owned life insurance			255				216
Unrealized gain on equity securities			24				—
Other income			183				193
Total noninterest income			1,872				1,696
NONINTEREST EXPENSES
Salaries and employee benefits			4,233				3,697
Occupancy expense			348				356
Equipment expense			208				206
Professional and director fees			458				413
Financial institutions tax			253				230
Marketing and public relations			131				105
Software expense			521				403
Debit card expense			208				211
FDIC insurance expense			147				150
Other expenses			798				710
Total noninterest expenses			7,305				6,481
Income before income taxes			5,537				4,494
FEDERAL INCOME TAX PROVISION			1,093				878
NET INCOME		$	4,444			$	3,616
Basic and diluted net earnings per share		$	1.69			$	1.37

See notes to unaudited consolidated financial statements

4

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

		Three Months Ended March 31,
(Dollars in thousands)		2026				2025
Net income		$	4,444			$	3,616
Other comprehensive (loss) income
Unrealized (loss) gain on available-for-sale securities arising during the period			(532	)			1,565
Amortization of held-to-maturity discount resulting from transfer			36				40
Income tax effect at 21%			104				(336	)
Other comprehensive (loss) income			(392	)			1,269
Total comprehensive income		$	4,052			$	4,885

See notes to unaudited consolidated financial statements.

5

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(Unaudited)

(Dollars in thousands, except per share data)		Common stock				Additional paid-in capital				Retained earnings				Treasury stock				Accumulated other comprehensive loss				Total
Three Months Ended March 31, 2026
Balance at beginning of period		$	18,629			$	9,815			$	112,146			$	(9,293	)		$	(5,017	)		$	126,280
Net income			—				—				4,444				—				—				4,444
Other comprehensive loss			—				—				—				—				(392	)			(392	)
Cash dividends declared, $0.43 per share			—				—				(1,129	)			—				—				(1,129	)
Balance at March 31, 2026		$	18,629			$	9,815			$	115,461			$	(9,293	)		$	(5,409	)		$	129,203
Three Months Ended March 31, 2025
Balance at beginning of period		$	18,629			$	9,815			$	103,105			$	(8,294	)		$	(8,420	)		$	114,835
Net income			—				—				3,616				—				—				3,616
Other comprehensive income			—				—				—				—				1,269				1,269
Purchase of 8,542 treasury shares			—				—				—				(328	)			—				(328	)
Cash dividends declared, $0.40 per share			—				—				(1,057	)			—				—				(1,057	)
Balance at March 31, 2025		$	18,629			$	9,815			$	105,664			$	(8,622	)		$	(7,151	)		$	118,335

See notes to unaudited consolidated financial statements.

6

CSB BANCORP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

		Three Months Ended March 31,
(Dollars in thousands)		2026				2025
NET CASH PROVIDED BY OPERATING ACTIVITIES		$	3,402			$	3,053
INVESTING ACTIVITIES
Securities:
Proceeds from repayments, available-for-sale			6,777				9,587
Proceeds from repayments, held-to-maturity			3,961				4,280
Purchases, available-for-sale			(3,942	)			(2,084	)
Loan (originations) and payments, net			(22,840	)			(23,538	)
Property, equipment, and software acquisitions			(343	)			(94	)
Net cash used in investing activities			(16,387	)			(11,849	)
FINANCING ACTIVITIES
Net (decrease) increase in deposits			(26,094	)			25,890
Net change in short-term borrowings			(3,869	)			(702	)
Repayment of other borrowings			(25	)			(30	)
Cash dividends paid			(1,129	)			(1,057	)
Purchase of treasury shares			—				(328	)
Net cash (used in) provided by financing activities			(31,117	)			23,773
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS			(44,102	)			14,977
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD			99,310				73,509
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$	55,208			$	88,486
SUPPLEMENTAL DISCLOSURES
Cash paid during the year for:
Interest		$	3,512			$	3,599
Income taxes			—				—

See notes to unaudited consolidated financial statements.

7

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accompanying condensed consolidated financial statements include the accounts of CSB Bancorp, Inc. and its wholly-owned subsidiaries, The Commercial and Savings Bank (the “Bank”) and CSB Investment Services, LLC (together referred to as the “Company” or “CSB”). All significant intercompany transactions and balances have been eliminated in consolidation.

The condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present fairly the Company’s financial position at March 31, 2026, and the results of operations and changes in cash flows for the periods presented have been made.

Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted. The Annual Report for CSB for the year ended December 31, 2025, contains Consolidated Financial Statements and related footnote disclosures, which should be read in conjunction with the accompanying condensed Consolidated Financial Statements. The results of operations for the period ended March 31, 2026 are not necessarily indicative of the operating results for the full year or any future interim period.

Certain items in the prior-year financial statements were reclassified to conform to the current-year presentation. Such reclassifications had no effect on net income or shareholders’ equity.

USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS

In preparing the Consolidated Financial Statements, in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for credit losses and the fair value of financial instruments.

RECENTLY ISSUED ACCOUNTING PRONOUNCMENTS

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. This ASU requires disclosure in the notes to financial statements of specified information about certain costs and expenses. Specific disclosures are required for (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil and gas producing activities. The amendments in this Update do not change or remove current expense disclosure requirements. However, the amendments affect where this information appears in the notes to financial statements because entities are required to include certain current disclosures in the same tabular format disclosure as the other disaggregation requirements in the amendments. The amendments in ASU 2024-03 apply only to public business entities and are effective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this new guidance on its financial statements.

In November 2025, the FASB issued ASU 2025-08, Financial Instruments – Credit Losses (Topic 326), which amends the guidance in Topic 326 to expand the population of acquired financial assets subject to the gross-up approach to include loans (excluding credit cards) that are acquired without credit deterioration and deemed “seasoned.” All non-purchased credit deteriorated loans (excluding credit cards) that are acquired in a business combination are deemed seasoned. Other non-purchased credit deteriorated loans (excluding credit cards) are considered to be seasoned if they were purchased at least 90 days after origination and the acquirer was not involved in the origination of the loans. ASU 2025-08 should be applied prospectively and is effective for annual reporting periods beginning after December 15, 2026, including interim reporting periods within those annual reporting periods. Early adoption is permitted. This Update is not expected to have an impact on the Company’s financial statements.

8

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 2 – SECURITIES

Securities consisted of the following on March 31, 2026 and December 31, 2025:

(Dollars in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Allowance for Credit Losses				Fair Value
March 31, 2026
Available-for-sale
U.S. Treasury securities		$	6,011			$	1			$	(2	)		$	—			$	6,010
U.S. Government agencies			3,000				—				(76	)			—				2,924
Mortgage-backed securities of government agencies			99,359				117				(4,894	)			—				94,582
Asset-backed securities of government agencies			342				—				(8	)			—				334
State and political subdivisions			11,651				1				(491	)			—				11,161
Corporate bonds			14,160				6				(346	)			—				13,820
Total available-for-sale			134,523				125				(5,817	)			—				128,831
Held-to-maturity
U.S. Treasury securities			5,404				—				(324	)			—				5,080
Mortgage-backed securities of government agencies			171,272				—				(22,251	)			—				149,021
State and political subdivisions			2,479				—				(117	)			—				2,362
Total held-to-maturity			179,155				—				(22,692	)			—				156,463
Equity securities			185				117				—				—				302
Restricted stock			1,645				—				—				—				1,645
Total securities		$	315,508			$	242			$	(28,509	)		$	—			$	287,241
December 31, 2025
Available-for-sale
U.S. Treasury securities		$	5,010			$	10			$	—			$	—			$	5,020
U.S. Government agencies			3,000				—				(92	)			—				2,908
Mortgage-backed securities of government agencies			103,198				290				(4,579	)			—				98,909
Asset-backed securities of government agencies			355				—				(8	)			—				347
State and political subdivisions			11,660				—				(433	)			—				11,227
Corporate bonds			14,154				7				(355	)			—				13,806
Total available-for-sale			137,377				307				(5,467	)			—				132,217
Held-to-maturity
U.S. Treasury securities			5,397				—				(321	)			—				5,076
Mortgage-backed securities of government agencies			175,261				32				(21,717	)			—				153,576
State and political subdivisions			2,487				—				(87	)			—				2,400
Total held-to-maturity			183,145				32				(22,125	)			—				161,052
Equity securities			185				94				—				—				279
Restricted stock			1,645				—				—				—				1,645
Total securities		$	322,352			$	433			$	(27,592	)		$	—			$	295,193

9

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 2 – SECURITIES (continued)

The amortized cost and fair value of debt securities on March 31, 2026, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

(Dollars in thousands)		Amortized cost				Fair value
Available-for-sale
Due in one year or less		$	11,045			$	10,953
Due after one through five years			21,394				20,770
Due after five through ten years			13,632				12,414
Due after ten years			88,452				84,694
Total debt securities available-for-sale		$	134,523			$	128,831
Held-to-maturity
Due in one year or less		$	2,496			$	2,465
Due after one through five years			3,926				3,571
Due after five through ten years			1,521				1,467
Due after ten years			171,212				148,960
Total debt securities held-to-maturity		$	179,155			$	156,463

Securities with a fair value of approximately $133 million were pledged on March 31, 2026 and $134 million on December 31, 2025, respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law.

Restricted stock primarily consists of investments in Federal Home Loan Bank of Cincinnati (FHLB) and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to approximately $1.1 million on March 31, 2026 and December 31, 2025. Federal Reserve Bank stock was $471 thousand on March 31, 2026 and December 31, 2025.

There were no proceeds from sales of securities for the three-month periods ended March 31, 2026 and 2025. All gains and losses recognized on equity securities during the three-month periods were unrealized.

10

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 2 – SECURITIES (continued)

The following table presents gross unrealized losses and fair value of securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, on March 31, 2026 and December 31, 2025:

		Securities in a continuous unrealized loss position
		Less than 12 months								12 months or more								Total
(Dollars in thousands)		Gross unrealized losses				Fair value				Gross unrealized losses				Fair value				Gross unrealized losses				Fair value
March 31, 2026
Available-for-sale
U.S. Treasury securities		$	(2	)		$	1,000			$	—			$	—			$	(2	)		$	1,000
U.S. Government agencies			—				—				(76	)			2,924				(76	)			2,924
Mortgage-backed securities of government agencies			(242	)			39,995				(4,652	)			37,178				(4,894	)			77,173
Asset-backed securities of government agencies			—				—				(8	)			334				(8	)			334
State and political subdivisions			(3	)			1,902				(488	)			8,442				(491	)			10,344
Corporate bonds			—				—				(346	)			12,064				(346	)			12,064
Total temporarily impaired		$	(247	)		$	42,897			$	(5,570	)		$	60,942			$	(5,817	)		$	103,839
December 31, 2025
Available-for-sale
U.S. Government agencies		$	—			$	—			$	(92	)		$	2,908			$	(92	)		$	2,908
Mortgage-backed securities of government agencies			(4	)			6,713				(4,575	)			38,734				(4,579	)			45,447
Asset-backed securities of government agencies			—				—				(8	)			347				(8	)			347
State and political subdivisions			(2	)			1,518				(431	)			8,508				(433	)			10,026
Corporate bonds			—				—				(355	)			12,049				(355	)			12,049
Total temporarily impaired		$	(6	)		$	8,231			$	(5,461	)		$	62,546			$	(5,467	)		$	70,777

There were 93 securities in an unrealized loss position on March 31, 2026, 76 of which were in a continuous loss position for twelve (12) months or more. Each quarter the Company conducts a comprehensive security-level impairment assessment on the securities portfolio. Management believes the Company will fully recover the cost of these securities. Unrealized losses on the Company’s fixed-rate debt securities are a result of interest rate increases. U.S. Treasury securities and investments in securities of U.S. government sponsored agency bonds comprise $104 million of total AFS securities. The remaining $25 million of non-agency debt securities is made up of Corporate Bonds and debt securities to State and Political Subdivisions. For non-agency debt securities, the Company verified the current credit ratings remain above investment grade. Non-rated debt securities total $7 million. Annually, management reviews the credit profile of each non-rated issue and assesses whether any impairment to the contractually obligated cash flow is likely to occur. Based on these reviews, management has concluded the underlying creditworthiness for each security remains sufficient to maintain required payment obligations and, therefore, no allowance for credit losses has been recorded. Management believes the value will recover as the securities approach maturity or market interest rates change.

11

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 2 – SECURITIES (continued)

The Bank monitors the credit quality of held-to-maturity debt securities primarily through utilizing their credit rating. The Bank monitors the credit rating on a quarterly basis. There are no nonperforming held-to-maturity securities. As of March 31, 2026, no ACL was required for any held-to-maturity security. The majority of the securities are explicitly or implicitly guaranteed by the United States government, and any estimate of expected credit losses would be insignificant to the Bank. The following table summarizes the amortized cost of held-to maturity debt securities at March 31, 2026 and December 31, 2025, aggregated by credit quality indicator:

(Dollars in thousands)		U.S. Treasury securities				Mortgage- backed securities of government agencies				State and political subdivisions
March 31, 2026
Credit rating:
AAA / AA / A		$	5,404			$	171,272			$	2,479
BBB / BB / B			—				—				—
Lower than B			—				—				—
Non-rated			—				—				—
Total		$	5,404			$	171,272			$	2,479
December 31, 2025
Credit rating:
AAA / AA / A		$	5,397			$	175,261			$	2,487
BBB / BB / B			—				—				—
Lower than B			—				—				—
Non-rated			—				—				—
Total		$	5,397			$	175,261			$	2,487

12

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS

Loans consisted of the following on March 31, 2026 and December 31, 2025:

(Dollars in thousands)		March 31, 2026				December 31, 2025
Commercial and industrial		$	157,968			$	152,657
Commercial real estate			256,019				255,911
Commercial lessors of buildings			121,711				114,010
Construction			50,370				47,982
Consumer mortgage			197,436				193,298
Home equity line of credit			54,815				52,616
Consumer installment			10,185				9,019
Consumer indirect			4,188				4,366
Total loans			852,692				829,859
Allowance for credit losses			(12,947	)			(12,470	)
Deferred loan fees, net			26				(81	)
Net Loans		$	839,771			$	817,308

Loan Origination/Risk Management

The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions.

Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers; however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable, inventory, and equipment, and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.

Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied.

13

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

With respect to loans to developers and builders that are secured by non-owner-occupied properties, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, and financial analysis of the developers and property owners. These loans are generally based upon estimates of costs and values associated with the completed project. These estimates may be inaccurate.

Construction and land development loans often involve the disbursement of substantial funds with repayment dependent on the success of the project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of the developed property, or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risk than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions, and the availability of long-term financing.

The Company originates consumer loans utilizing a judgmental underwriting process. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, mitigates risk.

The Company maintains an independent credit department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures.

Loans serviced for others approximated $129 million and $132 million on March 31, 2026 and December 31, 2025, respectively.

Concentrations of Credit

Nearly all the Company’s lending activity occurs within the state of Ohio, including the five counties of Holmes, Medina, Stark, Tuscarawas, and Wayne, as well as surrounding counties. The majority of the Company’s loan portfolio consists of commercial and commercial real estate loans. Credit evaluation is based on a review of cash flow coverage of principal, interest payments, and the adequacy of the collateral received.

The top five collateral exposures in commercial real estate and commercial lessors of buildings at March 31, 2026 are as follows: Industrial, manufacturing and production $79 million; healthcare facilities $47 million; warehouse $39 million; residential investment property $34 million; and animal feed production $25 million.

Allowance for Credit Losses

The following table details activity in the allowance for credit losses ("ACL") by portfolio segment for the three months ended March 31, 2026 and 2025. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

For the three months ended March 31, 2026, the additional provision for credit losses for home equity lines of credit was caused by the increased risk associated with forecasted economic conditions affecting the consumer. The increased provision related to loans in the commercial lessors of building category, is due to increased volume, and for commercial real estate loans the increase is due to the higher historical loss rate of loans in this category. The increase in provision amounts for the remaining loan categories primarily relates to changes in loan volume.

For the three months ended March 31, 2025, the increase in the provision for credit losses on commercial and industrial loans primarily relates to the increase in nonperforming commercial credit cards. The increase in provision amounts for the remaining commercial and construction loan categories primarily relates to loan growth.

14

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

(Dollars in thousands)		Beginning ACL Balance				Charge-offs				Recoveries				Provision (Recovery) for Credit Losses				Ending ACL Balance
Three Months Ended March 31, 2026
Commercial and industrial		$	6,886			$	—			$	—			$	32			$	6,918
Commercial real estate			2,394				—				—				135				2,529
Commercial lessors of buildings			1,314				—				—				114				1,428
Construction			524				—				—				25				549
Consumer mortgage			838				—				2				3				843
Home equity line of credit			227				—				—				152				379
Consumer installment			84				(13	)			3				36				110
Consumer indirect			203				—				1				(13	)			191
		$	12,470			$	(13	)		$	6			$	484			$	12,947
Three Months Ended March 31, 2025
Commercial and industrial		$	2,919			$	(27	)		$	—			$	262			$	3,154
Commercial real estate			1,681				—				—				26				1,707
Commercial lessors of buildings			1,141				—				—				99				1,240
Construction			502				—				—				74				576
Consumer mortgage			812				—				1				(55	)			758
Home equity line of credit			205				—				—				(12	)			193
Consumer installment			92				(8	)			4				1				89
Consumer indirect			243				—				1				13				257
		$	7,595			$	(35	)		$	6			$	408			$	7,974

15

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

Age Analysis of Past-Due Loans Receivable and Nonperforming Loans

The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past-due status.

(Dollars in thousands)		Current				30-59 Days Past Due				60-89 Days Past Due				90 Days + Past Due				Total Past Due				Total Loans
March 31, 2026
Commercial and industrial		$	157,968			$	—			$	—			$	—			$	—			$	157,968
Commercial real estate			256,019				—				—				—				—				256,019
Commercial lessors of buildings			121,711				—				—				—				—				121,711
Construction			50,351				19				—				—				19				50,370
Consumer mortgage			197,010				18				57				351				426				197,436
Home equity line of credit			54,563				252				—				—				252				54,815
Consumer installment			10,166				12				7				—				19				10,185
Consumer indirect			4,171				17				—				—				17				4,188
Total Loans		$	851,959			$	318			$	64			$	351			$	733			$	852,692
December 31, 2025
Commercial and industrial		$	152,589			$	48			$	20			$	—			$	68			$	152,657
Commercial real estate			255,835				76				—				—				76				255,911
Commercial lessors of buildings			114,010				—				—				—				—				114,010
Construction			47,962				20				—				—				20				47,982
Consumer mortgage			192,673				223				402				—				625				193,298
Home equity line of credit			52,221				320				75				—				395				52,616
Consumer installment			9,002				17				—				—				17				9,019
Consumer indirect			4,318				14				34				—				48				4,366
Total Loans		$	828,610			$	718			$	531			$	—			$	1,249			$	829,859

16

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of March 31, 2026 and December 31, 2025:

(Dollars in thousands)		Nonaccrual with no ACL				Nonaccrual with ACL				Total Nonaccrual				Loans Past Due 90 Days or More Still Accruing				Total Nonperforming
March 31, 2026
Commercial and industrial		$	—			$	27			$	27			$	—			$	27
Commercial real estate			—				157				157				—				157
Commercial lessors of buildings			—				—				—				—				—
Construction			—				—				—				—				—
Consumer mortgage			—				321				321				351				672
Home equity line of credit			—				63				63				—				63
Consumer installment			—				28				28				—				28
Consumer indirect			—				71				71				—				71
Total Loans		$	—			$	667			$	667			$	351			$	1,018
December 31, 2025
Commercial and industrial		$	—			$	9			$	9			$	—			$	9
Commercial real estate			—				161				161				—				161
Commercial lessors of buildings			—				—				—				—				—
Construction			—				—				—				—				—
Consumer mortgage			—				336				336				—				336
Home equity line of credit			—				64				64				—				64
Consumer installment			—				32				32				—				32
Consumer indirect			—				50				50				—				50
Total Loans		$	—			$	652			$	652			$	—			$	652

Interest income recognized on nonaccrual loans for the three months ended March 31, 2026 was $17 thousand and March 31, 2025 was $13 thousand, respectively.

Collateral-Dependent Financial Assets

When loan repayment is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, expected credit losses are based on the fair value of the collateral. The class of loan represents the primary collateral type associated with the loan. The following table presents the amortized cost basis of collateral dependent loans by class of loan:

		Type of Collateral
(Dollars in thousands)		Real Estate				Blanket Liens
March 31, 2026
Commercial and industrial		$	4,411		1	$	6,997
Commercial real estate			20,440		2		—
Total collateral dependent loans		$	24,851			$	6,997
December 31, 2025
Commercial and industrial		$	4,411		1	$	7,078
Commercial real estate			20,446		2		—
Total collateral dependent loans		$	24,857			$	7,078

1 Balances include $3.5 million USDA guarantee.

2 Balances include $16.4 million USDA guarantee.

17

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

Credit Quality Indicators

The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis includes all commercial loans before origination and an annual review of those with an outstanding commitment greater than $500 thousand. The Company uses the following definitions for risk ratings:

Pass. Loans classified as pass (Cash Secured, Exceptional, Acceptable, Monitor, or Pass Watch) may exhibit a wide array of characteristics but at a minimum represent an acceptable risk to the Bank. Borrowers in this rating may have leveraged but acceptable balance sheet positions, satisfactory asset quality, stable to favorable sales and earnings trends, acceptable liquidity and adequate cash flow. Loans are considered fully collectible and require an average amount of administration. While generally adhering to credit policy, these loans may exhibit occasional exceptions that do not result in undue risk to the Bank. Borrowers are generally capable of absorbing setbacks, financial and otherwise, without the threat of failure.

Special Mention. Assets assigned a Special Mention grade are not considered classified assets but are considered criticized. These assets exhibit potential weaknesses that, deserve management’s close attention. If left uncorrected, those potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. Loans in this rating warrant special attention but have not yet reached the point of concern for loss. These assets have deteriorated sufficiently to the point they would have difficulty refinancing elsewhere. Similarly, purchasers of the business would not be eligible for bank financing unless they represent a significantly stronger credit risk.

Substandard. Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.

18

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Based on the most recent analysis performed, the following tables present the recorded investment in non-homogeneous loans by internal risk rating system as of March 31, 2026 and December 31, 2025:

		Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)		2026				2025				2024				2023				2022				Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term				Total
March 31, 2026
Commercial and industrial:
Pass		$	7,518			$	19,988			$	17,086			$	12,794			$	7,847			$	8,516		$	55,046		$	—			$	128,795
Special mention			—				—				—				42				45				28			66			—				181
Substandard			—				906				—				10,552		1		4,253				1,284			11,997			—				28,992
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	7,518			$	20,894			$	17,086			$	23,388			$	12,145			$	9,828		$	67,109		$	—			$	157,968
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Commercial real estate:
Pass		$	6,211			$	40,849			$	27,414			$	30,249			$	34,596			$	68,627		$	1,590		$	—			$	209,536
Special Mention			—				—				—				—				664				13,677			—			—				14,341
Substandard			—				1,028				329				20,930		2		447				9,408			—			—				32,142
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	6,211			$	41,877			$	27,743			$	51,179			$	35,707			$	91,712		$	1,590		$	—			$	256,019
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Commercial lessors of buildings:
Pass		$	9,792			$	22,814			$	19,000			$	21,268			$	19,741			$	27,686		$	340		$	—			$	120,641
Special Mention			—				—				—				—				—				170			—			—				170
Substandard			—				—				—				—				—				900			—			—				900
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	9,792			$	22,814			$	19,000			$	21,268			$	19,741			$	28,756		$	340		$	—			$	121,711
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Commercial Construction:
Pass		$	2,048			$	13,785			$	11,731			$	2,250			$	7,225			$	1,840		$	1,908		$	—			$	40,787
Special Mention			—				—				—				—				—				—			—			—				—
Substandard			—				—				—				—				146				66			—			—				212
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	2,048			$	13,785			$	11,731			$	2,250			$	7,371			$	1,906		$	1,908		$	—			$	40,999
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Total
Pass		$	25,569			$	97,436			$	75,231			$	66,561			$	69,409			$	106,669		$	58,884		$	—			$	499,759
Special Mention			—				—				—				42				709				13,875			66			—				14,692
Substandard			—				1,934				329				31,482		1, 2		4,846				11,658			11,997			—				62,246
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	25,569			$	99,370			$	75,560			$	98,085			$	74,964			$	132,202		$	70,947		$	—			$	576,697
YTD commercial gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—

1 Balances include $3.5 million USDA guarantee.

2 Balances include $16.4 million USDA guarantee.

19

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

		Term Loans Amortized Cost Basis by Origination Year
		2025				2024				2023				2022				2021				Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term				Total
December 31, 2025
Commercial and industrial:
Pass		$	21,139			$	18,113			$	15,011			$	9,206			$	4,524			$	5,519		$	51,362		$	—			$	124,874
Special mention			—				—				44				52				42				—			107			—				245
Substandard			957				—				10,560		1		4,363				306				904			10,448			—				27,538
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	22,096			$	18,113			$	25,615			$	13,621			$	4,872			$	6,423		$	61,917		$	—			$	152,657
YTD gross charge-offs		$	—			$	—			$	55			$	—			$	—			$	—		$	27		$	—			$	82
Commercial real estate:
Pass		$	41,371			$	28,413			$	30,621			$	35,659			$	40,055			$	31,846		$	1,471		$	—			$	209,436
Special Mention			—				—				—				671				2,702				11,133			—			—				14,506
Substandard			128				333				20,954		2		453				1,587				8,514			—			—				31,969
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	41,499			$	28,746			$	51,575			$	36,783			$	44,344			$	51,493		$	1,471		$	—			$	255,911
YTD gross charge-offs		$	—			$	—			$	303			$	—			$	—			$	—		$	—		$	—			$	303
Commercial lessors of buildings:
Pass		$	22,800			$	19,788			$	21,547			$	19,952			$	14,219			$	14,101		$	438		$	—			$	112,845
Special Mention			—				—				—				—				172				—			—			—				172
Substandard			—				—				—				—				—				955			38			—				993
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	22,800			$	19,788			$	21,547			$	19,952			$	14,391			$	15,056		$	476		$	—			$	114,010
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Commercial construction:
Pass		$	13,734			$	10,226			$	2,368			$	7,471			$	684			$	1,182		$	2,049		$	—			$	37,714
Special Mention			—				—				—				—				—				—			—			—				—
Substandard			—				—				—				—				—				68			—			—				68
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	13,734			$	10,226			$	2,368			$	7,471			$	684			$	1,250		$	2,049		$	—			$	37,782
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Total
Pass		$	99,044			$	76,540			$	69,547			$	72,288			$	59,482			$	52,648		$	55,320		$	—			$	484,869
Special Mention			—				—				44				723				2,916				11,133			107			—				14,923
Substandard			1,085				333				31,514		1, 2		4,816				1,893				10,441			10,486			—				60,568
Doubtful			—				—				—				—				—				—			—			—				—
Total		$	100,129			$	76,873			$	101,105			$	77,827			$	64,291			$	74,222		$	65,913		$	—			$	560,360
YTD commercial gross charge-offs		$	—			$	—			$	358			$	—			$	—			$	—		$	27		$	—			$	385

1 Balances include $3.5 million USDA guarantee.

2 Balances include $16.4 million USDA guarantee.

20

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

The Company monitors the credit risk profile by payment activity for the loan classes listed below. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. The following table presents the amortized cost in consumer loans based on payment activity as of March 31, 2026 and December 31, 2025:

		Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)		2026				2025				2024				2023				2022				Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term				Total
March 31, 2026
Consumer mortgage:
Performing		$	6,677			$	25,869			$	29,159			$	24,440			$	28,955			$	81,664		$	—		$	—			$	196,764
Nonperforming			—				—				—				180				351				141			—			—				672
Total		$	6,677			$	25,869			$	29,159			$	24,620			$	29,306			$	81,805		$	—		$	—			$	197,436
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Consumer Construction:
Performing		$	545			$	7,576			$	671			$	—			$	443			$	136		$	—		$	—			$	9,371
Nonperforming			—				—				—				—				—				—			—			—				—
Total		$	545			$	7,576			$	671			$	—			$	443			$	136		$	—		$	—			$	9,371
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Home equity line of credit:
Performing		$	—			$	—			$	—			$	—			$	—			$	—		$	54,019		$	733			$	54,752
Nonperforming			—				—				—				—				—				—			63			—				63
Total		$	—			$	—			$	—			$	—			$	—			$	—		$	54,082		$	733			$	54,815
YTD gross charge-offs						$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Consumer installment:
Performing		$	2,326			$	3,757			$	1,552			$	1,500			$	602			$	372		$	48		$	—			$	10,157
Nonperforming			—				—				—				2				1				25			—			—				28
Total		$	2,326			$	3,757			$	1,552			$	1,502			$	603			$	397		$	48		$	—			$	10,185
YTD gross charge-offs		$	—			$	10			$	—			$	1			$	—			$	2		$	—		$	—			$	13
Consumer indirect:
Performing		$	60			$	355			$	507			$	447			$	688			$	2,060		$	—		$	—			$	4,117
Nonperforming			—				—				—				11				—				60			—			—				71
Total		$	60			$	355			$	507			$	458			$	688			$	2,120		$	—		$	—			$	4,188
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Total
Performing		$	9,608			$	37,557			$	31,889			$	26,387			$	30,688			$	84,232		$	54,067		$	733			$	275,161
Nonperforming			—				—				—				193				352				226			63			—				834
Total		$	9,608			$	37,557			$	31,889			$	26,580			$	31,040			$	84,458		$	54,130		$	733			$	275,995
YTD consumer gross charge-offs		$	—			$	10			$	—			$	1			$	—			$	2		$	—		$	—			$	13

21

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

		Term Loans Amortized Cost Basis by Origination Year
		2025				2024				2023				2022				2021				Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term				Total
December 31, 2025
Consumer mortgage:
Performing		$	23,328			$	30,593			$	25,839			$	29,546			$	29,711			$	53,945		$	—		$	—			$	192,962
Nonperforming			—				—				190				—				—				146			—			—				336
Total		$	23,328			$	30,593			$	26,029			$	29,546			$	29,711			$	54,091		$	—		$	—			$	193,298
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Consumer construction:
Performing		$	8,782			$	716			$	72			$	464			$	114			$	52		$	—		$	—			$	10,200
Nonperforming			—				—				—				—				—				—			—			—				—
Total		$	8,782			$	716			$	72			$	464			$	114			$	52		$	—		$	—			$	10,200
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Home equity line of credit:
Performing		$	—			$	—			$	—			$	—			$	—			$	—		$	52,201		$	351			$	52,552
Nonperforming			—				—				—				—				—				—			64			—				64
Total		$	—			$	—			$	—			$	—			$	—			$	—		$	52,265		$	351			$	52,616
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—		$	—		$	—			$	—
Consumer installment:
Performing		$	4,215			$	1,837			$	1,728			$	735			$	269			$	147		$	56		$	—			$	8,987
Nonperforming			—				—				3				2				—				27			—			—				32
Total		$	4,215			$	1,837			$	1,731			$	737			$	269			$	174		$	56		$	—			$	9,019
YTD gross charge-offs		$	17			$	21			$	14			$	4			$	2			$	13		$	—		$	—			$	71
Consumer indirect:
Performing		$	392			$	516			$	466			$	708			$	422			$	1,812		$	—		$	—			$	4,316
Nonperforming			—				—				12				—				—				38			—			—				50
Total		$	392			$	516			$	478			$	708			$	422			$	1,850		$	—		$	—			$	4,366
YTD gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	17		$	—		$	—			$	17
Total
Performing		$	36,717			$	33,662			$	28,105			$	31,453			$	30,516			$	55,956		$	52,257		$	351			$	269,017
Nonperforming			—				—				205				2				—				211			64			—				482
Total		$	36,717			$	33,662			$	28,310			$	31,455			$	30,516			$	56,167		$	52,321		$	351			$	269,499
YTD consumer gross charge-offs		$	17			$	21			$	14			$	4			$	2			$	30		$	—		$	—			$	88

Consumer mortgages are substantially secured by one to four family owner occupied properties and consumer indirect loans are substantially secured by recreational vehicles. All nonperforming consumer loans are evaluated when placed on nonaccrual status and may be charged down based on the collateral fair value less cost to sell if that value is lower than the outstanding balance. As of March 31, 2026 there were no loans secured by consumer real estate in process of foreclosure.

Modifications to Borrowers Experiencing Financial Difficulty

Occasionally, the Bank modifies loans to borrowers experiencing financial difficulty by providing – principal forgiveness, term extension, an other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. In some cases, the Bank may provide multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted.

22

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 3 – LOANS (CONTINUED)

The Bank closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last twelve months:

(Dollars in thousands)		Current				31 - 60 Days Past Due				61 - 90 Days Past Due				Greater Than 90 Days Past Due				Total Past Due
March 31, 2026
Home equity line of credit		$	319			$	—			$	—			$	—			$	—
		$	319			$	—			$	—			$	—			$	—

There were no modifications of loans to borrowers experiencing financial difficulty completed during the three months ended March 31, 2026 and 2025.

23

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 4 – SHORT-TERM BORROWINGS

The following table provides additional detail regarding repurchase agreements and the related collateral accounted for as secured borrowings.

		Remaining Contractual Maturity Overnight and Continuous
		March 31,				December 31,
(Dollars in thousands)		2026				2025
Securities of U.S. Government Agencies and mortgage-backed securities of    government agencies pledged, fair value		$	27,690			$	31,574
Repurchase agreements			27,648				31,517

NOTE 5 – FAIR VALUE MEASUREMENTS

The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below:

Level I:	Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access.
Level II:	Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by corroborated or other means. If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability.
Level III:	Inputs to the valuation methodology are unobservable and significant to the fair value measurement.

24

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 5 – FAIR VALUE MEASUREMENTS (CONTINUED)

The following table presents the assets reported on the Consolidated Balance Sheets at their fair value on a recurring basis as of March 31, 2026 and December 31, 2025 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities or identical securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost adjusted for impairment and observable price changes and are not included in the table below.

(Dollars in thousands)		Level I				Level II				Level III				Total
March 31, 2026
Assets:
Securities available-for-sale
U.S. Treasury securities		$	2,005			$	4,005			$	—			$	6,010
U.S. Government agencies			—				2,924				—				2,924
Mortgage-backed securities of government agencies			1,937				92,645				—				94,582
Asset-backed securities of government agencies			—				334				—				334
State and political subdivisions			—				11,161				—				11,161
Corporate bonds			—				13,820				—				13,820
Total available-for-sale securities		$	3,942			$	124,889			$	—			$	128,831
Equity securities		$	256			$	—			$	—			$	256
December 31, 2025
Assets:
Securities available-for-sale
U.S. Treasury securities		$	—			$	5,020			$	—			$	5,020
U.S. Government agencies			—				2,908				—				2,908
Mortgage-backed securities of government agencies			14,940				83,969				—				98,909
Asset-backed securities of government agencies			—				347				—				347
State and political subdivisions			—				11,227				—				11,227
Corporate bonds			—				13,806				—				13,806
Total available-for-sale securities		$	14,940			$	117,277			$	—			$	132,217
Equity securities		$	233			$	—			$	—			$	233

The following methods and assumptions were used by the Company in determining the fair value of assets measured at fair value on a nonrecurring basis as described below:

Individually evaluated collateral dependent loans: Loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral securing these loans include: quoted market prices for identical assets classified as Level I inputs; observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included unobservable inputs and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs.

25

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 5 – FAIR VALUE MEASUREMENTS (CONTINUED)

The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheet at their fair value as of March 31, 2026 and December 31, 2025, by level within the fair value hierarchy.

(Dollars in thousands)		Level I				Level II				Level III				Total
March 31, 2026
Individually evaluated collateral dependent loans recorded at fair value:
Commercial and industrial		$	—			$	—			$	7,408			$	7,408
Commercial real estate			—				—				20,440				20,440
Total individually evaluated collateral dependent loans recorded at fair value:		$	—			$	—			$	27,848			$	27,848
December 31, 2025
Individually evaluated collateral dependent loans recorded at fair value:
Commercial and industrial		$	—			$	—			$	7,489			$	7,489
Commercial real estate			—				—				20,446				20,446
Total individually evaluated collateral dependent loans recorded at fair value:		$	—			$	—			$	27,935			$	27,935

NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS

The estimated fair values of recognized financial instruments carried at amortized cost as of March 31, 2026 and December 31, 2025 are as follows:

(Dollars in thousands)		Carrying Value				Level I				Level II				Level III				Fair Value
March 31, 2026
Financial assets
Securities held-to-maturity		$	179,155			$	—			$	156,463			$	—			$	156,463
Loans held for sale			546				555				—				—				555
Net loans			839,771				—				—				808,403				808,403
Mortgage servicing rights			624				—				—				624				624
Financial liabilities
Deposits		$	1,101,821			$	831,935			$	—			$	271,652			$	1,103,587
Other borrowings			892				—				—				810				810
December 31, 2025
Financial assets
Securities held-to-maturity		$	183,145			$	—			$	161,052			$	—			$	161,052
Loans held for sale			213				217				—				—				217
Net loans			817,308				—				—				784,544				784,544
Mortgage servicing rights			625				—				—				625				625
Financial liabilities
Deposits		$	1,127,915			$	865,010			$	—			$	264,502			$	1,129,512
Other borrowings			917				—				—				835				835

26

CSB BANCORP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS (CONTINUED)

Other financial instruments carried at amortized cost include cash and cash equivalents, restricted stock, bank-owned life insurance, accrued interest receivable, short-term borrowings, and accrued interest payable, all of which have a Level I fair value that approximates their carrying value. The Company also has unrecognized financial instruments on March 31, 2026 and December 31, 2025, related to commitments to extend credit and letters of credit. The aggregate contract amount of such financial instruments was approximately $290 million on March 31, 2026 and $289 million on December 31, 2025.

The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates.

Note 7- ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table presents the changes in accumulated other comprehensive loss by component net of tax for the three months ended March 31, 2026 and 2025:

(Dollars in thousands)		Pretax				Tax Effect				After-tax
Three Months Ended March 31, 2026
Balance, beginning of period		$	(6,350	)		$	1,333			$	(5,017	)
Unrealized holding gain on available-for-sale securities arising during    the period			(532	)			112				(420	)
Amortization of held-to-maturity discount resulting from transfer			36				(8	)			28
Total other comprehensive income			(496	)			104				(392	)
Balance, end of period		$	(6,846	)		$	1,437			$	(5,409	)
Three Months Ended March 31, 2025
Balance, beginning of period		$	(10,657	)		$	2,237			$	(8,420	)
Unrealized holding gain on available-for-sale securities arising during    the period			1,565				(328	)			1,237
Amortization of held-to-maturity discount resulting from transfer			40				(8	)			32
Total other comprehensive income			1,605				(336	)			1,269
Balance, end of period		$	(9,052	)		$	1,901			$	(7,151	)

27

CSB BANCORP, INC.

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

ITEM 2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following management’s discussion and analysis focuses on the consolidated financial condition of the Company on March 31, 2026 as compared to December 31, 2025, and the consolidated results of operations for the three months ended March 31, 2026 compared to the same periods in 2025. The purpose of this discussion is to provide the reader with a more thorough understanding of the Consolidated Financial Statements. This discussion should be read in conjunction with the interim condensed Consolidated Financial Statements and related footnotes contained in Part I, Item 1 of this Quarterly Report.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this Quarterly Report are not historical facts but rather are forward-looking statements that are subject to certain risks and uncertainties. When used herein, the terms “anticipates”, “plans”, “expects”, “believes”, and similar expressions as they relate to the Company or its management are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company’s actual results, performance or achievements may materially differ from those expressed or implied in the forward-looking statements. Risks and uncertainties that could cause or contribute to such material differences include, but are not limited to, general economic conditions, interest rate environment, competitive conditions in the financial services industry, changes in law, governmental policies and regulations, and rapidly changing technology affecting financial services. Other factors not currently anticipated may also materially and adversely affect the Company’s results of operations, cash flows, and financial position. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this report are reasonable, the reader should not place undue reliance on any forward-looking statement.

The Company does not undertake, and specifically disclaims any obligation, to publicly revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as may be required by applicable law.

FINANCIAL CONDITION

Total assets decreased $27 million to $1.27 billion at March 31, 2026 compared to $1.29 billion at December 31, 2025. During the three months ended March 31, 2026, securities decreased $7 million, net loans increased $22 million, and cash and cash equivalents decreased $44 million. Deposits and short-term borrowings decreased $30 million.

Net loans increased $22 million, or 3%, as commercial and commercial real estate loans increased $13 million, or 3%, compared to December 31, 2025 and residential real estate loans increased $4 million, or 2%, from December 31, 2025. Construction loans increased $2 million, or 5%, from December 31, 2025. Consumer refinance activity remains slow on mortgage loans, while home construction activity rose as well as home equity line origination increases of $3 million. Residential mortgage loan originations, including home equity lines, for the three months ended March 31, 2026 totaled $17 million, an increase from $10 million in mortgage originations during the three months ended March 31, 2025. Mortgage loan originations sold into the secondary market remained stable at $1.5 million, during the three months ended March 31, 2026 and March 31, 2025 respectively. The Bank originates and sells primarily fixed rate thirty-year mortgages into the secondary market.

The allowance for credit losses for loans increased $477 thousand from December 31, 2025 to $12.9 million. The increase in the allowance was primarily due to the volume increase in loans originated. Net charge-offs were $7 thousand, or an annualized 0.0% of average loans, in the current three-month period compared to net charge-offs of $29 thousand, or 0.02% of average loans in the year-ago three-month period. At March 31, 2026, the allowance for credit losses to total loans was 1.52%. We believe the allowance level is appropriate given the level of problem loans and composition of the overall loan portfolio in the current economic environment.

28

CSB BANCORP, INC.

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

Nonperforming loans increased $366 thousand to $1.0 million, or 0.12%, of total loans from $652 thousand, or 0.08% of total loans, on December 31, 2025. For the three months ended March 31, 2026, $45 thousand in loans were placed on nonaccrual status and one mortgage loan for $351 thousand was 90 days past due, $30 thousand in paydowns were received, and no nonperforming loans were charged-off due to non-payment.

		March 31,				December 31,				March 31,
(Dollars in thousands)		2026				2025				2025
Non-performing loans		$	1,018			$	652			$	1,596
Allowance for credit losses			12,947				12,470				7,974
Total loans			852,718				829,778				761,240
Allowance for credit losses as a percentage of total loans			1.52		%		1.50		%		1.05		%
Allowance for credit losses to total nonperforming loans			12.7		X		19.1		X		5.0		X

The ratio of gross loans to deposits was 77% and 74% at March 31, 2026 and December 31, 2025.

The Company has no exposure to government-sponsored enterprise preferred stocks, collateralized debt obligations, or trust preferred securities. Management has considered industry analyst reports, sector credit reports, and the volatility within the bond market in concluding that the gross unrealized losses of $29 million within the available-for-sale and held-to-maturity portfolios as of March 31, 2026, was primarily the result of current market yields compared to the yields at the time the investments were purchased by the Company and not due to credit quality. As a result, all embedded security losses on March 31, 2026, are considered temporary and no allowance for credit loss is necessary.

The weighted average life of total debt securities was 5.03 years at March 31, 2026 as compared to 5.12 years at December 31, 2025. If interest rates declined 100 basis points, the weighted average life was estimated to fall to 4.55 years at March 31, 2026. If interest rates rose 100 basis points the weighted average life would be expected to increase to 5.57 years at March 31, 2026.

Deposits decreased $26 million, or 2%, from December 31, 2025 with noninterest-bearing deposits decreasing approximately $16 million, or 6%, and interest-bearing deposit accounts decreasing approximately $10 million, or 1%. Total deposits as of March 31, 2026 are $1.1 billion, or 3%, above March 31, 2025 deposit balances. On a year over year comparison, increases were recognized in interest bearing demand accounts of $34 million, and time deposits of $8 million. Decreases were recognized in noninterest-bearing demand deposits of $10 million and money market accounts of $1 million. Deposits have increased as customers move funds into interest bearing demand accounts and time certificates of deposit to take advantage of higher interest rates in those products. The estimated amount of uninsured deposits was $263 million, $281 million, and $262 million as of March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

Short-term borrowings consisting of overnight repurchase agreements with retail customers decreased $4 million, or 12%, to $28 million at March 31, 2026 as compared to December 31, 2025 as these balances are cyclical and typically lower in the first quarter. Other borrowings decreased $25 thousand as the Company repaid FHLB advances.

Total shareholders’ equity amounted to $129 million, or 10%, of total assets at March 31, 2026, an increase of $2.9 million, or 2%, from $126 million at December 31, 2025. The increase in shareholders’ equity during the three months ended March 31, 2026 was due to net income of $4.4 million, net of other comprehensive loss of $392 thousand and cash dividends of $1.1 million. Total accumulated other comprehensive loss ("AOCL") increased during the three months ended March 31, 2026 due to higher U.S. Treasury rates and decreased prices in government agency and corporate bonds as AFS securities are marked to fair value. This remaining unrealized loss in securities is temporary and is adjusted monthly for additional interest rate fluctuations, principal paydowns, calls, and maturities. The Company and the Bank met all regulatory capital requirements at March 31, 2026 as shown in the Capital Resources section of this report.

29

CSB BANCORP, INC.

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

RESULTS OF OPERATIONS

Three months ended March 31, 2026 and 2025

For the quarters ended March 31, 2026 and 2025, the Company recorded net income of $4.4 million and $3.6 million and $1.69 and $1.37 per share, respectively. The $828 thousand increase in net income for the period was primarily the result of an increase of $1.8 million in net interest income, offset by an increase in the provision for credit losses and off-balance sheet commitments of $93 thousand. Additionally, a $176 thousand increase in noninterest income was offset by a $824 thousand increase in noninterest expenses. The federal income tax provision increased $215 thousand. Pre-provision net revenue ("PPNR"), (a non-GAAP measure), totaled $6 million for the quarter ended March 31, 2026, an increase of $1.1 million, or 23%, from the prior year's first quarter.

Return on average assets and return on average equity were 1.42% and 14.03%, respectively, for the three-month period of 2026, compared to 1.22% and 12.58%, respectively for the same quarter in 2025.

Average Balance Sheets and Net Interest Margin Analysis

		For the Three Months Ended March 31,
		2026													2025
(Dollars in thousands)		Average balance1				Interest				Average rate2					Average balance1				Interest				Average rate2
ASSETS
Federal Funds Sold		$	467			$	4				3.47		%		$	386			$	4				4.20		%
Interest-earning deposits in other banks			45,192				414				3.72					48,237				532				4.47
Taxable securities			300,490				1,962				2.65					310,210				1,795				2.35
Tax-exempt securities 4			13,740				81				2.40					16,787				95				2.30
Loans 3,4			845,298				12,537				6.01					755,863				10,886				5.84
Total interest-earning assets			1,205,187				14,998				5.05		%			1,131,483				13,312				4.77		%
Noninterest-earning assets			64,370													66,320
TOTAL ASSETS		$	1,269,557												$	1,197,803
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing demand deposits		$	241,285			$	375				0.63		%		$	210,759			$	358				0.69		%
Savings deposits			318,211				700				0.89					312,084				729				0.95
Time deposits			266,094				2,363				3.60					250,360				2,440				3.95
Borrowed funds			28,331				67				0.96					27,653				73				1.07
Total interest-bearing liabilities			853,921				3,505				1.66		%			800,856				3,600				1.82		%
Noninterest-bearing demand deposits			280,748													275,331
Other liabilities			6,423													5,062
Shareholders' Equity			128,465													116,554
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY		$	1,269,557												$	1,197,803
Taxable equivalent net interest    income, (Non-GAAP)						$	11,493												$	9,712
Tax equivalent adjustment 4							(28	)												(31	)
Net interest income, (GAAP)						$	11,465												$	9,681
Net interest margin, (GAAP)											3.86		%											3.47		%
Tax equivalent adjustment 4											0.01													0.01
Net interest margin-taxable equivalent, (Non-GAAP)											3.87		%											3.48		%
Taxable equivalent net interest spread											3.39		%											2.95		%

1 Average balances have been computed on an average daily basis.

2 Average rates have been computed based on the amortized cost of the corresponding asset or liability.

3 Average loan balances include nonaccrual loans.

4 Taxable equivalent adjustments have been computed assuming a 21% tax rate in 2026 and 2025 (non-GAAP).

30

CSB BANCORP, INC.

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

Interest income for the quarter ended March 31, 2026, was $15 million representing a $1.7 million, or 13% increase, compared to the same period in 2025. This increase was primarily due to the higher average balances of loans of $89 million. These increases were partially offset by volume decreases in securities and interest-earning deposits in other banks of $13 million over the comparable period. Rates on average interest-earning deposits in other banks decreased 76 basis points, while loan rates increased 17 basis points, and securities' interest rates increased 30 basis points for the quarter ended March 31, 2026 as compared to the same period in 2025. Interest expense for the quarter ended March 31, 2026 was $3.5 million, a decrease of $95 thousand, or 3%, from the same quarter in 2025. The decrease in interest expense occurred primarily due to rate decreases in time deposit accounts during the quarter ended March 31, 2026.

For the quarter ended March 31, 2026, the bank recognized net charge-offs of $7 thousand, compared to $29 thousand net charge-offs for the same quarter in 2025. The provision for credit losses on loans in the current quarter of $484 thousand, compared to a provision of $408 thousand in the same quarter ended 2025. The Company recorded a $11 thousand provision for credit loss expense on off-balance commitments in the first quarter 2026 compared to a $6 thousand recovery in the same quarter of 2025.

Economic indicators reflect somewhat flat business activity with uncertainty related to trade policies and rising energy prices. The provision for credit losses is determined based on management’s calculation of the adequacy of the allowance for credit losses, which includes provisions for classified loans as well as for the remainder of the portfolio based on historical data, including past charge-offs and current economic trends.

Noninterest income increased $176 thousand, or 10%, compared to the first quarter of 2025. The increase was primarily the result of a $41 thousand increase in credit card interchange fees, a $40 thousand increase in trust fees, $39 thousand increase in earnings on bank owned life insurance, $28 thousand increase in debit card interchange fees and a $24 thousand increase in unrealized gains on equity securities.

Noninterest expense increased $824 thousand, or 13%, from the first quarter 2025. Salary and employee benefit costs increased $536 thousand, or 15%, compared to the prior year quarter with an increase in the number of full time equivalent employees from 173 in 2025 to 182 in 2026 as vacant positions were filled. Software expense increased $118 thousand, or 29%, professional and director fees increased $45 thousand, or 11%, marketing and public relations expense increased $26 thousand, or 25%, state financial institutions tax increased $23 thousand, or 10%, due to the increase in capital. Occupancy expense decreased $8 thousand, or 2%. The Company’s first quarter efficiency ratio decreased to 54.8% compared to 56.8% in the prior year.

Federal income tax expense increased $215 thousand, or 24%, for the quarter ended March 31, 2026 as compared to the first quarter 2025. The provision for income taxes was $1.1 million (effective rate of 19.7%) for the quarter ended March 31, 2026, compared to $878 thousand (effective rate of 19.5%) for the same quarter ended 2025.

CAPITAL RESOURCES

The Company maintained a strong capital position with tangible common equity to tangible assets of 9.9% at March 31, 2026 compared with 9.4% at December 31, 2025.

Consistent with the Board of Director’s commitment to public confidence and safe and sound banking operations, capital targets and minimum risk-based capital ratios for CSB were established to maintain excess capital to well-capitalized standards. To be considered well-capitalized, an institution must have a total risk-based capital ratio of at least 10%, a tier 1 capital ratio of at least 8%, a leverage capital ratio of at least 5%, a common equity tier 1 (“CET1”) ratio of at least 6.5% and must not be subject to any order or directive requiring the institution to improve its capital level. An adequately capitalized institution has a total risk-based capital ratio of at least 8%, a tier 1 capital ratio of at least 6%, a CET1 ratio of at least 4.5%, and a leverage ratio of at least 4%.

31

CSB BANCORP, INC.

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

Failure to meet specified minimum capital requirements could result in regulatory actions by the Federal Reserve or Ohio Division of Financial Institutions that could have a material effect on the Company’s financial condition or results of operations. Management believes there were no material changes to capital resources as presented in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. As of March 31, 2026, the Company and the Bank met all capital adequacy requirements to which they were subject.

		Capital Ratios
		March 31, 2026				December 31, 2025
Total Capital To Risk Weighted Assets Ratio
Consolidated			16.6		%		16.6		%
Bank			16.5				16.5
Tier 1 Capital To Risk Weighted Assets Ratio
Consolidated			15.4				15.4
Bank			15.2				15.2
Common Equity Tier 1 Capital To Risk Weighted Assets
Consolidated			15.4				15.4
Bank			15.2				15.2
Tier 1 Leverage Ratio
Consolidated			10.2				9.8
Bank			10.1				9.8

LIQUIDITY

(Dollars in thousands)		March 31, 2026				December 31, 2025				Change
Cash and cash equivalents		$	55,208			$	99,310			$	(44,102	)
Available from FHLB			147,378				144,813				2,565
Unpledged AFS securities at fair market value			126,993				126,666				327
		$	329,579			$	370,789			$	(41,210	)
Net deposits and short-term liabilities		$	1,127,731			$	1,153,980			$	(26,249	)
Liquidity ratio			29.2		%		32.1		%		(2.9	)	%
Minimum board approved liquidity ratio			20.0		%		20.0		%

Liquidity refers to the Company’s ability to generate sufficient cash to fund current loan demand, meet deposit withdrawals, pay operating expenses, and meet other obligations. Liquidity is monitored by the Company’s Asset Liability Committee. Other sources of liquidity include, but are not limited to, purchases of federal funds, advances from the FHLB, adjustments of interest rates to attract deposits, brokered deposits, and borrowing at the Federal Reserve discount window. Additionally, the Company could sell all of its AFS securities and the loss would not cause a change in the capital adequacy classification. Management believes its sources of liquidity are adequate to meet cash flow obligations for the foreseeable future.

32

CSB BANCORP, INC.

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

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements (as such term is defined in applicable Securities and Exchange Commission (the “Commission”) rules) that are reasonably likely to have a current or future material effect on our financial condition, results of operations, liquidity, capital expenditures, or capital resources.

PER SHARE DATA

Earnings per share is computed based on the weighted average number of shares of common stock outstanding during each year. The company currently maintains a simple capital structure, thus, there are no dilutive effects on earnings per share.

The weighted average number of common shares outstanding for earnings per share computations was as follows:

		Three Months Ended
		March 31,
(Dollars in thousands, except per share data)		2026				2025
Net income		$	4,444			$	3,616
Weighted average common shares outstanding			2,627,015				2,644,543
Earnings per share, basic and diluted		$	1.69			$	1.37

33

CSB BANCORP, INC.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The most significant market risk the Company is exposed to is interest rate risk. The business of the Company and the composition of its balance sheet consist of investments in interest-earning assets (primarily loans and securities), which are funded by interest-bearing liabilities (deposits and borrowings). These financial instruments have varying levels of sensitivity to changes in the market rates of interest, resulting in market risk. None of the Company’s financial instruments are held for trading purposes.

The Board of Directors establishes policies and operating limits with respect to interest rate risk. The Company manages interest rate risk regularly through its Asset Liability Committee. The Committee meets periodically to review various asset and liability management information including, but not limited to, the Company’s liquidity position, projected sources and uses of funds, interest rate risk position, and economic conditions.

Interest rate risk is monitored primarily through the use of an earnings simulation model. The model is highly dependent on various assumptions, which change regularly as the balance sheet and market interest rates change. The earnings simulation model projects change in net interest income resulting from the effect of changes in interest rates. The analysis is performed quarterly over a twenty-four-month horizon. The analysis includes two (2) balance sheet models, one based on a static balance sheet and one on a dynamic balance sheet with projected growth in assets and liabilities. This analysis is performed by estimating the expected cash flows of the Company’s financial instruments using interest rates in effect at March 31, 2026 and December 31, 2025. Interest rate risk policy limits are tested by measuring the anticipated change in net interest income over a two-year period. The tests assume quarterly ramped increases and decreases in market interest rates over twenty-four month horizons, as compared to a stable rate environment or base model. The following table reflects the change to net interest income using a dynamic balance sheet for the first twelve-month periods of the twenty-four month horizon.

March 31, 2026
(Dollars in thousands)
Change in Interest Rates (basis points)				Net Interest Income				Dollar Change				Percentage Change				Board Policy Limits
+ 400				$	50,351			$	1,333				2.7		%	± 30	%
+ 300					50,021				1,003				2.0			± 20
+ 200					49,687				669				1.4			± 15
+ 100					49,347				329				0.7			± 10
	0				49,018				—				—
– 100					48,527				(491	)			(1.0	)		± 10
– 200					47,962				(1,056	)			(2.2	)		± 15
– 300					47,090				(1,928	)			(3.9	)		± 20
– 400					46,426				(2,592	)			(5.3	)		± 30
December 31, 2025
+ 400					49,820			$	1,601				3.3		%	± 30	%
+ 300					49,417				1,198				2.5			± 20
+ 200					49,012				793				1.7			± 15
+ 100					48,602				383				0.8			± 10
	0				48,219				—				—
– 100					47,598				(621	)			(1.3	)		± 10
– 200					46,983				(1,236	)			(2.6	)		± 15
– 300					46,252				(1,967	)			(4.1	)		± 20
– 400					45,678				(2,541	)			(5.3	)		± 30

34

CSB BANCORP, INC.

CONTROLS AND PROCEDURES

ITEM 4 - CONTROLS AND PROCEDURES

With the participation of the Company’s management, including its Chief Executive Officer and Chief Financial Officer, the Company has evaluated the effectiveness of its disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as of the end of the period covered by this Quarterly Report on Form 10-Q. Based upon that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that:

(a)information required to be disclosed by the Company in this Quarterly Report on Form 10-Q would be accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure;

(b)information required to be disclosed by the Company in this Quarterly Report on Form 10-Q would be recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms; and

(c)the Company’s disclosure controls and procedures are effective as of the end of the period covered by this Quarterly Report on Form 10-Q to ensure that material information relating to the Company and its consolidated subsidiary is made known to them, particularly during the period for which the Company’s periodic reports, including this Quarterly Report on Form 10-Q, are being prepared.

CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING

There were no changes during the period covered by this Quarterly Report on Form 10-Q in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

35

CSB BANCORP, INC.

FORM 10-Q

QUARTER ENDED March 31, 2026

PART II – OTHER INFORMATION

ITEM 1 - LEGAL PROCEEDINGS.

In the opinion of management there are no outstanding legal proceedings that are reasonably likely to have a material adverse effect on the company’s financial condition or results of operations.

ITEM 1A - RISK FACTORS.

Not required for Smaller Reporting Companies.

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

(a)Not applicable

(b)Not applicable

(c)The following table provides information about repurchases of common stock by the Company during the quarter ended March 31, 2026:

Period		Total Number of Common Shares Purchased				Average Price Paid per Common Share				Total Number of Shares Purchased as Part of Publicly Announced Authorization				Maximum Number of Remaining Shares that May be Purchased as Part of Publicly Announced Authorization
January 1, 2026 - January 31, 2026			—				—				—				21,782
February 1, 2026 - February 28, 2026			—				—				—				21,782
March 1, 2026 - March 31, 2026			—				—				—				21,782
Total for quarter			—								—				21,782

On March 2, 2021, CSB Bancorp, Inc. filed Form 8-K with the Commission announcing that its Board of Directors approved a Stock Repurchase Program authorizing the repurchase of up to 5% of the Company’s common shares, or 137,117 of the Company’s outstanding shares. Repurchases may be made from time to time as market and business conditions warrant, in the open market, through block purchases, and in negotiated private transactions.

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES.

Not applicable.

ITEM 4 - MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5 - OTHER INFORMATION.

Not applicable.

36

CSB BANCORP, INC.

FORM 10-Q

QUARTER ENDED March 31, 2026

PART II – OTHER INFORMATION

ITEM 6 - Exhibits.

Exhibit Number		Description of Document
3.1		Amended 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 04958544).
3.1.1		Amended 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, film number 99579179).
3.2		Code of Regulations of CSB Bancorp, Inc. (incorporated by reference to the Registrant’s Form 10-SB).
3.2.1		Amended 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).
3.2.2		Amended Article II of the Code of Regulations of CSB Bancorp, Inc. (incorporated by reference to Registrant’s Form DEF 14a file on March 16, 2021, Appendix A, film number 21747059).
3.2.3		Amended Article III of the Code of Regulations of CSB Bancorp, Inc. (incorporated by reference to Registrant's Form DEF 14a file on March 16, 2023, Appendix A, film number 23738842).
4.0		Description of Capital Stock (incorporated by reference to registrants Annual Report on Form 10-K filed on March 16, 2020, Exhibit 4.0, film number 20717009).
31.1		Rule 13a-14(a)/15d-14(a) Chief Executive Officer’s Certification.
31.2		Rule 13a-14(a)/15d-14(a) Chief Financial Officer’s Certification.
32.1		Section 1350 Chief Executive Officer’s Certification.
32.2		Section 1350 Chief Financial Officer’s Certification.
101		The following financial statements from the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, formatted in Inline XBRL: (i) Consolidated Balance Sheets, (ii) Consolidated Statements of Income and Comprehensive Income, (iii) Consolidated Statements of Changes in Shareholders' Equity, (iv) Condensed Consolidated Statements of Cash Flows, and (v) Notes to Consolidated Financial Statements, tagged as blocks of text and including detailed tags.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

37

CSB BANCORP, INC.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

			CSB BANCORP, INC.
			(Registrant)
Date:		May 14, 2026	/s/ Eddie L. Steiner
			Eddie L. Steiner
			President
			Chief Executive Officer
Date:		May 14, 2026	/s/ Paula J. Meiler
			Paula J. Meiler
			Senior Vice President
			Chief Financial Officer

38

FAQ

How did CSB Bancorp (CSBB) perform financially in Q1 2026?

CSB Bancorp reported net income of $4.4 million for Q1 2026, up from $3.6 million a year earlier. Earnings per share rose to $1.69, reflecting higher net interest income and stable credit costs that supported improved profitability.

What happened to CSB Bancorp’s net interest margin in Q1 2026?

The net interest margin improved to 3.86% in Q1 2026 from 3.47% a year earlier. This reflected higher loan balances and better asset yields, while interest expense declined slightly, helping expand spread income on the balance sheet.

How strong was CSB Bancorp’s asset quality at March 31, 2026?

Asset quality remained strong, with nonperforming loans of $1.0 million, representing 0.12% of total loans. The allowance for credit losses was $12.9 million, or 1.52% of loans, supported by minimal net charge-offs of $7 thousand in the quarter.

What were CSB Bancorp’s loan and deposit levels in Q1 2026?

At March 31, 2026, total loans were $852.7 million and deposits totaled $1.10 billion. Loans grew about 3% from year-end, led by commercial and residential real estate, while deposits declined modestly from December but were higher than a year earlier.

What returns did CSB Bancorp generate on assets and equity in Q1 2026?

For Q1 2026, CSB Bancorp produced a return on average assets of 1.42% and a return on average equity of 14.03%. Both measures improved from the prior year, showing stronger earnings relative to the size of the balance sheet and capital base.

How did noninterest income and expenses change for CSB Bancorp in Q1 2026?

Noninterest income rose $176 thousand, helped by higher card fees, trust revenue, and bank-owned life insurance income. Noninterest expenses increased $824 thousand, mainly from higher salaries, benefits, and software costs, partly offset by slightly lower occupancy expense.