2016 Q1 Form 10-K Financial Statement

#000119312516516446 Filed on March 24, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4 2014 Q4
Revenue $5.661M $5.559M $5.401M
YoY Change 4.7% 2.93% -0.53%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $376.0K
YoY Change -4.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.124M $2.310M $2.080M
YoY Change 10.28% 11.06% 19.54%
Income Tax $644.0K $710.0K $640.0K
% Of Pretax Income 30.32% 30.74% 30.77%
Net Earnings $1.480M $1.607M $1.439M
YoY Change 10.28% 11.67% 17.57%
Net Earnings / Revenue 26.14% 28.91% 26.64%
Basic Earnings Per Share $0.54 $0.59 $0.53
Diluted Earnings Per Share $0.54 $0.59 $0.53
COMMON SHARES
Basic Shares Outstanding 2.742M shares 2.739M shares 2.738M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q4 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $204.7M
YoY Change
Cash & Equivalents $38.27M
Short-Term Investments $153.9M $166.4M $143.0M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $8.032M $8.209M $8.286M
YoY Change -2.62% -0.93% -4.65%
Goodwill $4.728M $4.728M $4.728M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $637.2M $650.3M $621.0M
YoY Change 1.94% 4.72% 4.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $48.80M $48.60M $46.60M
YoY Change -6.33% 4.29% -4.31%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $48.80M $48.60M $46.60M
YoY Change -6.33% 4.29% -4.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.300M $1.900M $1.900M
YoY Change 15.0% 0.0% -5.0%
Total Long-Term Liabilities $2.300M $1.900M $1.900M
YoY Change 15.0% 0.0% -5.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.80M $48.60M $46.60M
Total Long-Term Liabilities $2.300M $1.900M $1.900M
Total Liabilities $574.4M $589.0M $563.5M
YoY Change 1.43% 4.53% 3.58%
SHAREHOLDERS EQUITY
Retained Earnings $38.99M $38.03M $34.09M
YoY Change 11.68% 11.56% 12.76%
Common Stock $28.44M $28.48M $28.51M
YoY Change -0.24% -0.13% -0.28%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.784M $4.822M $4.871M
YoY Change -1.79% -1.01% -1.75%
Treasury Stock Shares 238.4K shares 239.6K shares 241.2K shares
Shareholders Equity $62.80M $61.27M $57.45M
YoY Change
Total Liabilities & Shareholders Equity $637.2M $650.3M $621.0M
YoY Change 1.94% 4.72% 4.11%

Cashflow Statement

Concept 2016 Q1 2015 Q4 2014 Q4
OPERATING ACTIVITIES
Net Income $1.480M $1.607M $1.439M
YoY Change 10.28% 11.67% 17.57%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.380M $2.410M $2.060M
YoY Change 15.97% 16.99% 0.98%
INVESTING ACTIVITIES
Capital Expenditures -$50.00K -$80.00K -$50.00K
YoY Change -66.67% 60.0% -87.5%
Acquisitions
YoY Change
Other Investing Activities $2.770M -$20.43M -$3.160M
YoY Change -123.22% 546.52% -66.13%
Cash From Investing Activities $2.720M -$20.52M -$3.210M
YoY Change -122.52% 539.25% -66.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.01M 16.55M 8.260M
YoY Change -677.31% 100.36% 394.61%
NET CHANGE
Cash From Operating Activities 1.380M 2.410M 2.060M
Cash From Investing Activities 2.720M -20.52M -3.210M
Cash From Financing Activities -15.01M 16.55M 8.260M
Net Change In Cash -10.91M -1.560M 7.110M
YoY Change 31.6% -121.94% -218.3%
FREE CASH FLOW
Cash From Operating Activities $1.380M $2.410M $2.060M
Capital Expenditures -$50.00K -$80.00K -$50.00K
Free Cash Flow $1.430M $2.490M $2.110M
YoY Change 6.72% 18.01% -13.52%

Facts In Submission

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425000
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6061000
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255000
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7513000
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8054000
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159000
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36200000
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5550000
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67000
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17.84
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2737636 shares
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5884000
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910000
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6383000
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1612000
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81000
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7000
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1174000
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139000
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1750000
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18290000
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2026000
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19927000
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43000
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301000
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133000
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264000
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75000
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45000
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2500000
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63717000
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2506000
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133000
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-361000
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359000
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3000000
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188000
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665000
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21656000
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198000
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-1347000
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2857000
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427000
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51855000
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308000
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34893000
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4250000
CY2014 us-gaap Interest Income Securities Tax Exempt
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466000
CY2014 us-gaap Income Tax Expense Benefit
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2568000
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2483000
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0
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358000
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643000
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-32000
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299000
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1324000
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1729000
CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-23421000
CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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17582000
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1932000
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84000
CY2014 us-gaap Deferred Income Tax Expense Benefit
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175000
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0
CY2014 us-gaap Marketing And Advertising Expense
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378000
CY2014 us-gaap Proceeds From Sale Of Held To Maturity Securities
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9273000
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7000
CY2014 us-gaap Provision For Loan And Lease Losses
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643000
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0
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84000
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486000
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1422000
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1014000
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-2044000
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182000
CY2014 us-gaap Current Income Tax Expense Benefit
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2393000
CY2014 us-gaap Equipment Expense
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715000
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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2874000
CY2014 us-gaap Labor And Related Expense
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8321000
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-12000
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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651000
CY2014 us-gaap Amortization Of Intangible Assets
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130000
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133000
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35337000
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2026000
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72000
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15082000
CY2014 us-gaap Proceeds From Repayments Of Other Debt
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5000000
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928000
CY2014 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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6506000
CY2014 us-gaap Increase Decrease In Deposits
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19151000
CY2014 us-gaap Interest Expense Short Term Borrowings
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77000
CY2014 us-gaap Depreciation
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653000
CY2014 us-gaap Interest Expense Deposits
InterestExpenseDeposits
1166000
CY2014 us-gaap Costmethod Investments Other Than Temporary Impairment
CostmethodInvestmentsOtherThanTemporaryImpairment
0
CY2014 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2014 csbb Loans Serviced For Others
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70600000
CY2014 csbb Professional And Director Fees
ProfessionalAndDirectorFees
725000
CY2014 csbb Short Term Debt Weighted Average Interest Rate During Period
ShortTermDebtWeightedAverageInterestRateDuringPeriod
0.0015 pure
CY2014 csbb Percentage Profit Sharing Contribution Of Eligible Participants Compensation
PercentageProfitSharingContributionOfEligibleParticipantsCompensation
0.0275 pure
CY2014 csbb Tax Exempt Income On Bank Owned Life Insurance
TaxExemptIncomeOnBankOwnedLifeInsurance
90000
CY2014 csbb Debit Card Expense
DebitCardExpense
421000
CY2014 csbb Four Zero One K Profit Sharing Plan Expense
FourZeroOneKProfitSharingPlanExpense
269000
CY2014 csbb Income Tax Reconciliation Interest Expense Associated With Carrying Certain State And Municipal Securities And Political Subdivision Loans
IncomeTaxReconciliationInterestExpenseAssociatedWithCarryingCertainStateAndMunicipalSecuritiesAndPoliticalSubdivisionLoans
4000
CY2014 csbb Software Expense
SoftwareExpense
727000
CY2014 csbb Proceeds From Redemption Of Restricted Stock
ProceedsFromRedemptionOfRestrictedStock
849000
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FinancingReceivableAverageRecordedInvestment
11258000
CY2014 csbb Financial Institutions Franchise Tax Expense
FinancialInstitutionsFranchiseTaxExpense
361000
CY2015 dei Document Fiscal Period Focus
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FY
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.20
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
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7666000
CY2015 us-gaap Number Of Operating Segments
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1 Segment
CY2015 dei Document Fiscal Year Focus
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2015
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
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2980602 shares
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
CY2015 dei Document Type
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10-K
CY2015 dei Entity Central Index Key
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0000880417
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0
CY2015 dei Entity Filer Category
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Smaller Reporting Company
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0.34 pure
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-3843000
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
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2638 shares
CY2015 us-gaap Common Stock Dividends Per Share Declared
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0.76
CY2015 dei Current Fiscal Year End Date
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--12-31
CY2015 dei Entity Current Reporting Status
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Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
CSB BANCORP INC /OH
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2742108 shares
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6 Contract
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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0 shares
CY2015 us-gaap Weighted Average Number Of Shares Treasury Stock
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241132 shares
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: Arial Narrow; MARGIN-TOP: 12pt"> <font color="#548C35"><b>RECLASSIFICATION OF COMPARATIVE AMOUNTS</b></font></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial Narrow; MARGIN-TOP: 0pt; TEXT-INDENT: 3%" align="justify">Certain comparative amounts from the prior years have been reclassified to conform to current year classifications. Such classifications had no effect on net income or shareholders&#x2019; equity.</p> </div>
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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18.00
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2739470 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; FONT-FAMILY: Arial Narrow; MARGIN-TOP: 0pt"> <font color="#548C35"><b>USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS</b></font></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial Narrow; MARGIN-TOP: 0pt; TEXT-INDENT: 1.5em" align="justify">In preparing Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles, management is required to make 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&#x2019;s determination of the allowance for loan losses and the fair value of financial instruments.</p> </div>
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
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1591 shares
CY2015 dei Trading Symbol
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CSBB
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2.20
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6022000
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988000
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12083000
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-551000
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89000
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11000
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-135000
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89000
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18548000
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2082000
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20430000
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96000
CY2015 us-gaap Other Comprehensive Income Reclassification Adjustment For Held To Maturity Transferred To Available For Sale Securities Before Tax
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403000
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56000
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5964000
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270000
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240000
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19000
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2180000
CY2015 us-gaap Shortterm Debt Maximum Monthend Outstanding Amount
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54462000
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1488000
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56000
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-575000
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184000
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309000
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21997000
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363000
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8819000
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-4000
CY2015 us-gaap Allowance For Loan And Lease Losses Adjustments Net
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-108000
CY2015 us-gaap Interest Income Securities Taxable
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2790000
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611000
CY2015 us-gaap Comprehensive Income Net Of Tax
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5887000
CY2015 us-gaap Interest Income Expense After Provision For Loan Loss
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20041000
CY2015 us-gaap Fees And Commissions Fiduciary And Trust Activities
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860000
CY2015 us-gaap Payments For Proceeds From Other Loans And Leases
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6023000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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8669000
CY2015 us-gaap Fees And Commissions Depositor Accounts
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1203000
CY2015 us-gaap Shortterm Debt Average Outstanding Amount
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51571000
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-316000
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69684000
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4424000
CY2015 us-gaap Interest Income Securities Tax Exempt
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563000
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2647000
CY2015 us-gaap Proceeds From Sale Of Available For Sale Securities
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1576000
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2015 us-gaap Federal Deposit Insurance Corporation Premium Expense
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357000
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389000
CY2015 us-gaap Income Tax Reconciliation Other Adjustments
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4000
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301000
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23368000
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1942000
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455000
CY2015 us-gaap Deferred Income Tax Expense Benefit
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83000
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FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
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389000
CY2015 us-gaap Available For Sale Securities Gross Realized Losses
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0
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FinancingReceivableModificationsPreModificationRecordedInvestment2
455000
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415000
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1971000
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229000
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2947000
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56000
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2082000
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71000
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Depreciation
660000
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1081000
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0
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0
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76300000
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2026
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830000
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16
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0.0014 pure
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P2Y
CY2015 csbb Percentage Profit Sharing Contribution Of Eligible Participants Compensation
PercentageProfitSharingContributionOfEligibleParticipantsCompensation
0.0275 pure
CY2015 csbb Tax Exempt Income On Bank Owned Life Insurance
TaxExemptIncomeOnBankOwnedLifeInsurance
92000
CY2015 csbb Debit Card Expense
DebitCardExpense
413000
CY2015 csbb Four Zero One K Profit Sharing Plan Expense
FourZeroOneKProfitSharingPlanExpense
304000
CY2015 csbb Line Of Credit Expire Year
LineOfCreditExpireYear
2016
CY2015 csbb Period Of Termination
PeriodOfTermination
P2Y
CY2015 csbb Income Tax Reconciliation Interest Expense Associated With Carrying Certain State And Municipal Securities And Political Subdivision Loans
IncomeTaxReconciliationInterestExpenseAssociatedWithCarryingCertainStateAndMunicipalSecuritiesAndPoliticalSubdivisionLoans
4000
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0.50 pure
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SoftwareExpense
801000
CY2015 csbb Loans Held For Sale Average Maximum Period
LoansHeldForSaleAverageMaximumPeriod
P3D
CY2015 csbb Capital Loss Carry Forward Expiration Year
CapitalLossCarryForwardExpirationYear
2014
CY2015 csbb Percentage Of Matching Contribution Under Compensation Plan
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0.02 pure
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FinancingReceivableAverageRecordedInvestment
9063000
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FinancialInstitutionsFranchiseTaxExpense
400000
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0.50
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5336000
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5173000
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0.55
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0.55
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CY2015Q2 us-gaap Interest And Dividend Income Operating
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5568000
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0.51
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0.51
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NetIncomeLoss
1407000
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EarningsPerShareDiluted
0.55
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CY2014Q3 us-gaap Interest And Dividend Income Operating
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CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
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EarningsPerShareBasic
0.57
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NetIncomeLoss
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CY2015Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5068000
CY2015Q3 us-gaap Interest And Dividend Income Operating
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5463000
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
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EarningsPerShareBasic
0.45
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NetIncomeLoss
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4922000
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5430000
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
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EarningsPerShareBasic
0.53
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2014Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
4987000
CY2014Q4 us-gaap Interest And Dividend Income Operating
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5401000
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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0.59
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NetIncomeLoss
1607000
CY2015Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
5173000
CY2015Q4 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
5559000

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