secwatch.observer — SEC 8-K summary
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Issuer:     CSB Bancorp, Inc. (CSBB)
CIK:        0000880417
Form:       8-K
Filed at:   2024-07-26T23:59:59+00:00
Accession:  0000950170-24-086946
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CSB Bancorp Q2 net income drops 56% to $1.6M; nonperforming assets surge to 0.93%
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- Diluted EPS $0.61 vs $1.36 YoY; net income $1.6M down 56% from $3.6M.
- Credit loss provision jumped $2.7M on a $6.4M commercial loan placed on nonaccrual; $4.1M specific reserve booked.
- Nonperforming assets rose to $6.7M (0.93% of loans) from $255K (0.04%) a year ago.
- Net interest margin FTE 3.28% (vs 3.33% Q2'23); loan yields up 44 bps to 5.74%.
- PPNR increased 4% to $4.85M; dividend maintained at $0.39/share (4% annualized yield).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/880417/000095017024086946/0000950170-24-086946-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/880417/000095017024086946/csbb-20240726.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-086946

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer