CSB Bancorp (OTC: CSBB) Q1 2026 profit and margins improve vs 2025

Rhea-AI Filing Summary

CSB Bancorp, Inc. reported stronger first quarter 2026 results, with net income of $4.44 million and earnings of $1.69 per share, up from $3.62 million and $1.37 per share a year earlier. Profitability improved, as annualized return on equity rose to 14.03% and return on assets to 1.42%.

Core banking performance was solid: fully taxable equivalent net interest margin widened to 3.87%, supported by higher loan balances and better asset yields, while the efficiency ratio improved to 54.75%. Asset quality remained strong, with nonperforming loans at 0.12% of total loans and minimal net charge-offs.

Insights

Banking sector equity analyst

CSB Bancorp delivered higher earnings, stronger margins, and stable credit quality in Q1 2026.

CSB Bancorp grew Q1 2026 net income to $4.44 million, with earnings of $1.69 per share versus $1.37 a year earlier. Annualized ROE reached 14.03% and ROA 1.42%, indicating healthier profitability on a modestly larger balance sheet.

Core performance improved as fully taxable equivalent net interest margin expanded to 3.87% from 3.48%, and Pre-Provision Net Revenue rose to $6.03 million. Noninterest income also increased, while higher operating expenses reflected additional staff and technology investment but still produced a better efficiency ratio of 54.75%.

Credit metrics stayed conservative: the allowance for credit losses was $12.95 million, or 1.52% of loans, and nonperforming loans were $1.0 million, or 0.12% of total loans, with very low net charge-offs. These figures suggest the bank entered the rest of 2026 with solid capital, earnings momentum, and controlled asset quality risk.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $4.44 million Earnings per share: $1.69 Return on average assets: 1.42% +5 more

8 metrics

Net income $4.44 million Quarter ended March 31, 2026

Earnings per share $1.69 Basic and diluted, Q1 2026

Return on average assets 1.42% Annualized, Q1 2026

Return on average common equity 14.03% Annualized, Q1 2026

Net interest margin FTE 3.87% Quarter ended March 31, 2026

Pre-Provision Net Revenue $6.03 million Non-GAAP PPNR, Q1 2026

Allowance for credit losses $12.95 million 1.52% of total loans at March 31, 2026

Nonperforming loans ratio 0.12% Nonperforming loans to total loans at March 31, 2026

Key Terms

Pre-Provision Net Revenue, fully taxable equivalent, efficiency ratio, allowance for credit losses, +2 more

6 terms

Pre-Provision Net Revenue financial

"Pre-Provision Net Revenue ("PPNR") (a non-GAAP measure) totaled $6.0 million"

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.

fully taxable equivalent financial

"The fully taxable equivalent ("FTE") net interest margin (a non-GAAP measure) was 3.87%"

A fully taxable equivalent converts a tax-free yield into the pretax yield you would need from a taxable investment to get the same after-tax return, using an investor’s marginal tax rate. Think of it like inflating a discounted price to the full sticker price so you can compare items side‑by‑side; investors use it to fairly compare tax-exempt securities with taxable alternatives and choose the better after-tax income.

efficiency ratio financial

"The Company’s first quarter efficiency ratio decreased to 54.75% compared to 56.81%"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

allowance for credit losses financial

"The allowance for expected credit losses ("ACL") amounted to $12.9 million, or 1.52% of total loans"

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 assets financial

"Nonperforming assets (NPAs) | | | 1,018 |"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

tangible equity financial

"Tangible equity is a non-GAAP measure, which is shareholders' equity net of goodwill."

Tangible equity is the portion of a company's net worth made up of physical and financial assets after subtracting intangible items like patents, brand names and goodwill. Investors use it as a conservative measure of how much real, sellable value would remain for shareholders if the business were broken up or struggled, similar to assessing a house’s value based only on bricks and land rather than a neighborhood reputation.

Earnings Snapshot

Net income: $4.44 million

Q1 2026

Net income $4.44 million higher than $3.62 million in Q1 2025

Earnings per share $1.69 higher than $1.37 in Q1 2025

Net interest margin FTE 3.87% higher than 3.48% in Q1 2025

Return on average equity 14.03% higher than 12.58% in Q1 2025

Pre-Provision Net Revenue $6.03 million higher than $4.90 million in Q1 2025

Understanding 8-K Material Events →

0000880417falseNONE00008804172026-04-202026-04-20

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 20, 2026

CSB Bancorp, Inc.

(Exact name of Registrant as Specified in Its Charter)

Ohio			000-21714	34-1687530
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
91 North Clay Street P.O. Box 232
Millersburg, Ohio				44654
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 330 674-9015

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 Stock, par value $6.25 per share		CSBB		OTCID

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12g-2 of the Securities Exchange Act of 1934 (§ 240.12g-2 of this chapter).

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. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 20, 2026, CSB Bancorp, Inc. issued a news release announcing its earnings for the quarter ended March 31, 2026. A copy of this news release and related financial tables are furnished herein as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	News release and Quarterly Report for CSB Bancorp, Inc. for the quarter ended March 31, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

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 hereunto duly authorized.

			CSB Bancorp, Inc.
Date:	April 20, 2026	By:	/s/ Paula J. Meiler
			Paula J. Meiler Senior Vice President and Chief Financial Officer

Exhibit 99.1

CSB BANCORP, INC. REPORTS FIRST QUARTER EARNINGS

First Quarter Highlights

		Quarter Ended   March 31, 2026					Quarter Ended March 31, 2025
Diluted earnings per share		$	1.69				$	1.37
Net Income		$	4,444,000				$	3,616,000
Return on average common equity			14.03	%				12.58	%
Return on average assets			1.42	%				1.22	%

Millersburg, Ohio – April 20, 2026 – CSB Bancorp, Inc. (OTC ID: CSBB) today announced first quarter 2026 net income of $4,444,000 or $1.69 per basic and diluted share, as compared to $3,616.000, or $1.37 per basic and diluted share, for the same period in 2025.

Annualized returns on average common equity (“ROE”) and average assets (“ROA”) for the quarter were 14.03% and 1.42%, respectively, compared with 12.58% and 1.22% for the first quarter of 2025. Pre-Provision Net Revenue (“PPNR”) (a non-GAAP measure) totaled $6.0 million during the quarter, an increase of $1.1 million, or 23%, from the prior year’s first quarter. Net interest income increased $1.8 million, or 18%, noninterest income increased $176 thousand, or 10%, and noninterest expense increased $824 thousand, or 13%, in the first quarter of 2026 compared to the same period in 2025.

Eddie Steiner, President and CEO stated, “Loans increased 3% from year-end, while deposits declined by 2% on seasonal business slowdowns and tax payments. Mortgage application volume has improved with mortgage rates about 1/2%-3/4% below year ago levels. Commercial construction has been fairly robust in our markets. Businesses are generally cautious with inventory levels and equipment purchases. Higher energy prices are spurring inflation in a number of product and service categories and uncertain outcomes related to effects of the Iran war and related settlement agreements, along with fluctuations in U.S. global trade policy are feeding an unsettled tone. Consumers are spending at close to normal levels, with slightly increasing debt levels from sustained inflation. The Fed is likely on pause with rates for a sustained period of months unless significant flare-ups occur in employment or inflation. U.S. equity and debt markets have been volatile but regained all time high ranges in the past week.”

Provision for credit loss expense for the quarter increased $93 thousand from first quarter 2025. The allowance for expected credit losses (“ACL”) amounted to $12.9 million, or 1.52% of total loans, on March 31, 2026, as compared to $8.0 million or 1.05% of total loans on March 31, 2025. The allowance for credit losses on off-balance sheet commitments on March 31, 2026 was $607 thousand, as compared to a March 31, 2025 balance of $519 thousand. The increase in the ACL is primarily related to the individually evaluated loan relationship. CSB has no allowance for credit losses related to available-for-sale or held-to-maturity debt securities, as there is no meaningful loss expectation on these securities.

Loan interest income including fees increased $1.7 million, or 15%, during first quarter 2026 as compared to the same quarter in 2025. The increase was primarily the result of an $89 million average volume increase, augmented by a 17 basis point (“bp”) increase in yield over the prior year’s quarter. Securities interest income increased $156 thousand, or 8%, during the first quarter 2026 compared to the same quarter 2025 with average yield in the portfolio improving as lower yielding securities continue to pay down and mature. Loan yields in first quarter 2026 averaged 6.01%, an increase of 17 bps from the 2025 first quarter average of 5.84%. Securities yields for first quarter 2026 averaged 2.64% as compared to 2.34% in the first quarter of 2025, while overnight funds averaged 3.71% compared to 4.47% in the first quarter 2025.

Interest expense declined $95 thousand, or 3%, during first quarter 2026 as compared to first quarter 2025. The cost to fund gross earning assets for the first quarter of 2026 declined to 1.18% as compared to 1.29% for the first quarter of 2025.

The fully taxable equivalent (“FTE”) net interest margin (a non-GAAP measure) was 3.87% for first quarter 2026, compared to 3.48% in the first quarter of 2025. FTE net interest income increased $1.8 million, or 18%, with a $74 million increase in average earning assets as well as a 28 bp increase in the yield on assets. The mix shift into loans primarily drove the increase in earnings from assets. The cost of interest-bearing liabilities declined 16 basis points as rates on time deposits have been slowly declining over the past year. Tax equivalency effect on net interest margin was 0.01% for both 2026 and 2025.

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

Noninterest expense increased $824 thousand, or 13%, from first quarter 2025. Salary and employee benefits increased $536 thousand, or 14%, compared to the prior year quarter, with increases in base salaries, benefits, and medical expenses, partially due to increased headcount as the company was able to reduce vacancies and add several new positions supporting growth. Software expense increased $118 thousand, or 29%, primarily due to new loan production software. Professional fees increased $45 thousand, or 11%, with increases to legal expense, audit and accounting, and director’s fees. Marketing and public relations increased $26 thousand, or 25%, with increasing benefit requests. The Company’s first quarter efficiency ratio decreased to 54.75% compared to 56.81% in the prior year.

Federal income tax expense was $1.1 million in first quarter 2026 compared to $878 thousand in the first quarter of 2025. The effective tax rate for the 2026 and 2025 first quarters was 20%, respectively.

Average earning assets for the first quarter of 2026 increased $74 million, or 7% from the year-ago quarter, primarily reflecting an $89 million, or 12%, increase in average loans, a $13 million, or 4%, decrease in average securities, and a $3 million, or 6%, decrease in interest-earning deposits in other banks, held mainly at the Federal Reserve Bank.

Average commercial loan balances for the quarter, including commercial real estate, increased $67 million, or 13%, from prior year levels, as construction loans were drawn, and borrowers used term loans to fund equipment and other purchases. Average residential mortgage balances increased $16 million, or 9%, above the prior year’s quarter with borrowers favoring adjustable-rate mortgages during this period of higher interest rates. The bank does not sell adjustable-rate mortgages to the secondary market. Home equity lines of credit increased $8 million from the prior year’s quarter as borrowers covered expenses and avoided refinancing their lower interest rate mortgages. Average consumer credit balances decreased $1 million, or 7%, versus the same quarter of the prior year on lower volume of loans for recreational vehicles. Commercial loan demand for operating cash flow and equipment investments is somewhat constrained with households and businesses remaining cautious about discretionary borrowing until there is more confidence in price and employment stability following tensions in the middle east and rising oil prices. Construction and development and commercial real estate borrowing have continued to exhibit fairly steady demand.

Nonperforming loans were $1.0 million, or 0.12%, of total loans on March 31, 2026, compared to $1.6 million, or 0.21% of total loans, a year ago. Delinquent loan balances as of March 31, 2026, decreased to 0.16% of total loans as compared to 0.43% on March 31, 2025. Net loan charge-offs recognized during first quarter 2026 were $7 thousand, compared to first quarter 2025 net loan charge-offs of $29 thousand.

Average deposit balances increased on a quarter over prior year quarter comparison by $58 million, or 6%. For first quarter 2026, the average cost of deposits amounted to 1.26%, as compared to 1.36% for first quarter 2025.

First quarter 2026 increases in average deposit balances over the prior year quarter included savings accounts of $4 million, money market accounts of $2 million, and time deposits of $16 million. Noninterest-bearing accounts increased $7 million from the prior year’s first quarter while interest-bearing demand accounts increased $30 million. The average balance of securities sold under repurchase agreement during the first quarter of 2026 increased by $1 million, or 4%, compared to the average for the same period in the prior year.

Shareholders’ equity totaled $129 million on March 31, 2026, with 2.6 million common shares outstanding. The average equity to assets ratio amounted to 10.12% for the quarter ended March 31, 2026. The Company declared a first quarter dividend of $0.43 per share, producing an annualized yield of 2.8% based on March 31, 2026 closing price of $62.36.

About CSB Bancorp, Inc.

CSB is a financial holding company headquartered in Millersburg, Ohio, with approximate assets of $1.3 billion as of March 31, 2026. CSB provides a complete range of banking and other financial services to consumers and businesses through its wholly owned subsidiary, The Commercial and Savings Bank, with sixteen banking centers in Holmes, Wayne, Tuscarawas, and Stark counties and Trust offices located in Millersburg, North Canton, and Wooster, and a loan production office located in Medina, Ohio.

Forward-Looking Statement

This release contains forward-looking statements relating to present or future trends or factors affecting the banking industry, and specifically the financial condition and results of operations, including without limitation, statements relating to the earnings outlook of the Company, as well as its operations, markets, and products. Actual results could differ materially from those indicated. Among the important factors that could cause results to differ materially are interest rate changes, softening in the economy, which could materially impact credit quality trends and the ability to generate loans, changes in the mix of the Company’s business, competitive pressures, changes in accounting, tax or regulatory practices or requirements and those risk factors detailed in the Company’s periodic reports and registration statements filed with the Securities and Exchange Commission. The Company undertakes no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this release. See the non-GAAP disclosures at the end of this release for a reconciliation of GAAP and non-GAAP measures.

Contact Information:

Paula J. Meiler, SVP & CFO

330.763.2873

paula.meiler@csb1.com

CSB BANCORP, INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(Unaudited)		Quarters
(Dollars in thousands, except per share data)		2026				2025				2025				2025				2025
EARNINGS		1st Qtr				4th Qtr				3rd Qtr				2nd Qtr				1st Qtr
Net interest income FTE (a)	$		11,493		$		11,450		$		10,968		$		10,376		$		9,712
Provision for credit loss expense			495				3,858				501				614				402
Noninterest income			1,872				1,956				1,866				1,777				1,696
Noninterest expenses			7,305				7,249				7,133				6,878				6,481
FTE adjustment(a)			28				30				30				31				31
Net income			4,444				1,869				4,151				3,727				3,616
Basic and Diluted earnings per share			1.69				0.71				1.57				1.41				1.37
PERFORMANCE RATIOS
Return on average assets (ROA), annualized			1.42		%		0.58		%		1.31		%		1.23		%		1.22		%
Return on average common equity (ROE), annualized			14.03				5.83				13.19				12.48				12.58
Net interest margin FTE(a)			3.87				3.73				3.67				3.61				3.48
Efficiency ratio			54.75				54.11				55.56				56.62				56.81
Number of full-time equivalent employees			182				178				181				175				173
MARKET DATA
Book value per common share	$		49.18		$		48.07		$		47.56		$		46.11		$		44.80
Period-end common share market value			62.36				54.00				49.50				43.50				44.00
Market as a % of book			126.80		%		112.30		%		104.09		%		94.34		%		98.20		%
Price-to-earnings ratio			11.59				10.65				9.48				9.01				10.92
Average basic common shares outstanding			2,627,015				2,629,229				2,636,028				2,639,244				2,644,543
Average diluted common shares outstanding			2,627,015				2,629,229				2,636,028				2,639,244				2,644,543
Period end common shares outstanding			2,627,015				2,627,015				2,632,498				2,638,921				2,641,547
Common stock market capitalization	$		163,821		$		141,859		$		130,309		$		114,793		$		116,228
ASSET QUALITY
Gross charge-offs	$		13		$		31		$		39		$		368		$		35
Net charge-offs			7				26				11				362				29
Allowance for credit losses			12,947				12,470				8,720				8,251				7,974
Nonperforming assets (NPAs)			1,018				652				746				1,358				1,597
Net charge-off / average loans ratio			0.00		%		0.01		%		0.01		%		0.19		%		0.02		%
Allowance for credit losses / period-end loans			1.52				1.50				1.08				1.05				1.05
NPAs/loans and other real estate			0.12				0.08				0.09				0.17				0.21
Allowance for credit losses / nonperforming loans			1,272				1,913				1,169				608				499
CAPITAL & LIQUIDITY
Period-end tangible equity to assets(b)			9.87		%		9.43		%		9.69		%		9.48		%		9.36
Average equity to assets			10.12				9.90				9.96				9.82				9.73
Average equity to loans			15.20				15.56				15.55				15.36				15.42
Average loans to deposits			76.41				72.62				72.97				72.86				72.09
AVERAGE BALANCES
Assets	$		1,269,557		$		1,285,617		$		1,253,262		$		1,220,306		$		1,197,828
Earning assets			1,205,187				1,216,492				1,184,077				1,153,677				1,131,483
Loans			845,298				818,312				802,858				779,664				755,860
Deposits			1,106,338				1,126,878				1,100,283				1,070,136				1,048,534
Shareholders' equity			128,465				127,296				124,818				119,779				116,554
ENDING BALANCES
Assets	$		1,265,503		$		1,292,736		$		1,248,357		$		1,237,969		$		1,218,640
Earning assets			1,200,667				1,228,856				1,178,781				1,163,268				1,148,625
Loans			852,718				829,778				810,048				788,070				761,240
Deposits			1,101,821				1,127,915				1,096,596				1,089,344				1,070,777
Shareholders' equity			129,203				126,280				125,190				121,683				118,335

Notes:

(a) - Net interest income on a fully-taxable equivalent ("FTE") basis, restates interest on tax-exempt securities and loans as if such interest were subject to federal income tax at the 21% statutory rate. Net interest income on an FTE basis differs from net interest income under U.S. Generally Accepted Accounting Principles, and is considered a non-GAAP measure.

(b) - Tangible equity is a non-GAAP measure, which is shareholders' equity net of goodwill.

CSB BANCORP, INC.

CONSOLIDATED BALANCE SHEETS

(Unaudited)		March 31,					March 31,
(Dollars in thousands, except per share data)		2026					2025
ASSETS
Cash and cash equivalents
Cash and due from banks	$		17,738			$		22,315
Interest-bearing deposits with banks			37,470					66,171
Total cash and cash equivalents			55,208					88,486
Securities
Available-for-sale, at fair-value			128,831					119,428
Held-to-maturity			179,155					200,000
Equity securities			302					266
Restricted stock, at cost			1,645					1,520
Total securities			309,933					321,214
Loans held for sale			546					-
Loans			852,718					761,240
Less allowance for credit losses			12,947					7,974
Net loans			839,771					753,266
Premises and equipment, net			13,663					13,935
Goodwill			4,728					4,728
Bank owned life insurance			31,423					28,441
Accrued interest receivable and other assets			10,231					8,570
TOTAL ASSETS	$		1,265,503			$		1,218,640
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
Deposits:
Noninterest-bearing	$		272,934			$		283,255
Interest-bearing			828,887					787,522
Total deposits			1,101,821					1,070,777
Short-term borrowings			27,648					24,981
Other borrowings			892					1,236
Accrued interest payable and other liabilities			5,939					3,311
TOTAL LIABILITIES			1,136,300					1,100,305
SHAREHOLDERS' EQUITY
Common stock, $6.25 par value. Authorized 9,000,000 shares;
issued 2,980,602 shares in 2026 and 2025			18,629					18,629
Additional paid-in capital			9,815					9,815
Retained earnings			115,461					105,664
Treasury stock at cost - 353,587 shares in 2026
and 339,055 shares in 2025			(9,293	)				(8,622	)
Accumulated other comprehensive loss			(5,409	)				(7,151	)
TOTAL SHAREHOLDERS' EQUITY			129,203					118,335
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$		1,265,503			$		1,218,640

CSB BANCORP, INC.

CONSOLIDATED STATEMENTS OF INCOME

		Quarters ended
(Unaudited)		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
Other			67					73
Total interest expense			3,505					3,600
Net interest income			11,465					9,681
Provision for credit loss expense			495					402
Net interest income, after provision
for 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
Earnings on bank owned life insurance			255					216
Gain on sale of loans			52					49
Unrealized gain on equity securities			24					-
Other			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
Software expense			521					403
Marketing and public relations			131					105
Debit card expense			208					211
Financial institutions tax			253					230
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
Net income per share:
Basic and diluted	$		1.69			$		1.37

CSB BANCORP, INC.

NON-GAAP DISCLOSURES

NET INTEREST INCOME, FULLY-TAXABLE EQUIVALENT

		Quarters ended
(Unaudited)		March 31,
(Dollars in thousands)		2026					2025
Net interest income	$		11,465			$		9,681
Taxable equivalent adjustment1			28					31
Net interest income, FTE	$		11,493			$		9,712
Net interest margin			3.86		%			3.47		%
Taxable equivalent adjustment1			0.01					0.01
Net interest margin, FTE			3.87		%			3.48		%

1 Net interest income on a fully-taxable equivalent ("FTE") basis, restates interest on tax-exempt securities and loans as if such interest were subject to federal income tax at the statutory rate. Net interest income on an FTE basis differs from net interest income under U.S. Generally Accepted Accounting Principles, and is considered a non-GAAP measure.

PRE-PROVISION NET REVENUE

		Quarters ended
(Unaudited)		March 31,
(Dollars in thousands)		2026					2025
Pre-Provision Net Revenue (PPNR)
Net interest income	$		11,465			$		9,681
Total noninterest income			1,872					1,696
Total revenue			13,337					11,377
Less: Noninterest expense			7,305					6,481
PPNR (Non-GAAP)	$		6,032			$		4,896

TANGIBLE EQUITY

(Unaudited)		March 31,					March 31,
(Dollars in thousands)		2026					2025
Total Shareholders' Equity (GAAP)	$		129,203			$		118,335
Less: Goodwill			4,728					4,728
Tangible Shareholders' Equity (Non-GAAP)	$		124,475			$		113,607

FAQ

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

CSB Bancorp reported stronger Q1 2026 results, with net income of $4.44 million and earnings of $1.69 per share. Profitability improved as return on equity reached 14.03% and return on assets 1.42%, both higher than the prior-year quarter.

How did CSB Bancorp’s Q1 2026 earnings compare to Q1 2025?

CSB Bancorp’s Q1 2026 net income increased to $4.44 million from $3.62 million in Q1 2025, while earnings per share rose to $1.69 from $1.37. These gains reflect stronger core banking performance and improved profitability ratios.

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

In Q1 2026, CSB Bancorp’s fully taxable equivalent net interest margin was 3.87%, up from 3.48% a year earlier. The higher margin came from a $74 million increase in average earning assets and better yields, especially from loan growth and mix shifts into higher-yielding assets.

How strong were CSB Bancorp’s asset quality metrics in Q1 2026?

Asset quality at CSB Bancorp remained solid in Q1 2026. Nonperforming loans totaled $1.0 million, or 0.12% of total loans, down from 0.21% a year ago. Net charge-offs were only $7 thousand, indicating limited realized credit losses during the quarter.

What was CSB Bancorp’s allowance for credit losses at March 31, 2026?

At March 31, 2026, CSB Bancorp’s allowance for credit losses was $12.9 million, representing 1.52% of total loans. The allowance increased from $8.0 million and 1.05% a year earlier, reflecting updated credit expectations and an individually evaluated loan relationship.

Did CSB Bancorp pay a dividend in the first quarter of 2026?

Yes. CSB Bancorp declared a Q1 2026 dividend of $0.43 per share. Based on the March 31, 2026 closing share price of $62.36, this dividend equated to an annualized yield of 2.8% for shareholders during the period.

What were CSB Bancorp’s key balance sheet figures at March 31, 2026?

As of March 31, 2026, CSB Bancorp reported total assets of $1.27 billion, loans of $852.7 million, and deposits of $1.10 billion. Shareholders’ equity was $129.2 million, with approximately 2.63 million common shares outstanding at period end.

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 839.5 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 24.3 KB