This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CSB Bancorp, Inc. Reports Fourth Quarter And Full Year Earnings

Annualized returns on average common equity (“ROE”) and average assets (“ROA”) for the quarter were 8.50% and 0.77%, respectively, compared with 6.58% and 0.61% for the fourth quarter of 2011.

For the full year of 2012, the Company reported net income of $4.5 million, or $1.66 per basic and diluted share, as compared to $3.7 million, or $1.35 per basic and diluted share in 2011. Full year ROE and ROA were 8.85% and 0.80%, respectively, compared to 7.57% and 0.78% in 2011.

Eddie Steiner, President and CEO commented, “Net interest income increased for the eighth consecutive quarter, and non-interest income increased for the fourth consecutive quarter. While margins remain historically tight, our ability to attract and grow customer relationships has been instrumental in driving our revenue stream. We plan to continue this focus on building customer relationships as we do not anticipate significant margin expansion as long as interest rates remain at or near historic lows.”

Revenue totaled $5.7 million for the fourth quarter of 2012, a 9.5% increase from the prior-year fourth quarter. Full year revenue of $22.1 million reflects a $2 million, or 9.9%, increase as compared to full year 2011.

Non-interest expense amounted to $3.8 million during the quarter, an increase of $70 thousand, or 2% from fourth quarter 2011. For the full year ended December 31, 2012, non-interest expense increased $841 thousand, or 6% versus 2011, with the majority of the change attributable to the Company’s increased operating size from the fourth quarter 2011 acquisition of banking centers in Wooster, Ohio.

The Company’s fourth quarter efficiency ratio amounted to 63.6% as compared to 71.5% for the same quarter in the prior year. The full year 2012 efficiency ratio of 64.8% compares to 68.1% for the full prior year.

Federal income tax provision was $475 thousand for fourth quarter 2012, compared to $324 thousand for the same quarter in 2011. Full year income tax of $2.0 million for 2012 was 24% higher than prior year and reflects an effective tax rate of 30.4% for current year versus 30.3% in 2011.

2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs