Press Release  |  April 18, 2005

CSB Bancorp, Inc. Reports Increase In First Quarter Net Income

MILLERSBURG, OH – (BUSINESS WIRE) – April 18, 2005 – CSB Bancorp, Inc., (OTC BB: CSBB.OB), announced an increase in net income for the first quarter of 2005 compared to the same period last year.

Net income for the three-month period ended March 31, 2005, stood at $667,000 compared to $521,000 for the first quarter of 2004, a 28% increase. Earnings per share rose five cents, to $.25 from $.20, respectively, a 25% increase.

“These results reflect the continued improvements being made across our Company. We believe earnings improvements are sustainable and driven by prudent community-based deployment of the deposits we are entrusted with,” stated John J. Limbert, President and Chief Executive Officer of CSB Bancorp, Inc.

First Quarter Highlights:

· For the quarter just ended, net interest income of $2,929,000 exceeded $2,696,000 recorded for the quarter ended March 31, 2004. The increase was primarily the result of volume and rate increases on average earning assets exceeding the yield and volume increases paid on interest-bearing liabilities.

· Noninterest income for the quarter increased $60,000. The two items making up the majority of this increase were an increase of $31,000 in core service charges and fees and a $23,000 increase in trust income.

· A gain of $247,000 on the sale of securities was recognized in the first quarter, compared to $26,000 recorded for the quarter ended March 31, 2004.

· Noninterest expenses increased $162,000 for the quarter, represented by increases in personnel benefits, Sarbanes Oxley compliance, two robberies and the subsequent increased physical security costs related to the branch network.

· The federal income tax provision increased $194,000 for the quarter, a result of $340,000 increase in net income before taxes and a decrease in nontaxable income.

Total assets at March 31, 2005 stood at $312,665,000, down from $318,260,000 for the quarter ended March 31, 2004. The reduction in assets occurred as selected out of state tax-exempt bonds were sold to fund loan growth and above market rate certificates of deposits were allowed to run off without renewing. For the same dates, deposits increased to $243,723,000, compared to $239,467,000 and net loans increased to $221,698,000 from $215,768,000 respectively.

Based in Millersburg, Ohio, CSB Bancorp, Inc., is the parent company of The Commercial and Savings Bank, an Ohio banking corporation chartered in 1879. The Bank serves consumers and businesses through nine financial centers in Holmes, Tuscarawas and Wayne Counties. CSB is located on the web at

Forward-looking Statement. The information in this press release contains forward-looking statements including certain projections, plans and forecasts of expected future performance that are not historical facts and that are subject to a number of risk and uncertainties. Actual results and performance could differ materially from those contemplated or implied by these forward-looking statements.

NEWS EDITOR: For further information, please contact Paula J. Meiler, Senior Vice President and Chief Financial Officer of CSB Bancorp, Inc. at 330-763-2873 or 800-654-9015 or by e-mail at

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