27 unchanged sentences
The Bank’s market area has historically exhibited relatively stable economic conditions.
−Removed: Economic activity grew modestly in the fourth quarter of 2024.
−Removed: Demand for goods and services improved as steady sales were recorded during the fourth quarter 2024.
−Removed: Supply chain challenges improved during the year, creating less constrained inventories, and cost increases appear to be leveling off.
−Removed: Consumer spending has increased slightly.
+Added: Economic activity in the Company’s market area increased slightly in the fourth quarter of 2025, but consumer demand for goods and services declined moderately and is expected to flatten out in the near future.
Reported unemployment levels in December 2025 ranged from 2.8% to 4.4% in the four primary counties served by the Company.
−Removed: These levels increased from the December 2023 unemployment range of 2.1% to 3.3%.
−Removed: Labor demand remained solid as competition for workers has put upward pressure on labor costs.
−Removed: The local housing market shows continued strength with low inventory levels.
−Removed: Residential mortgage activity, including home equity and construction loans have increased steadily with stable interest rates and resolution of uncertainty after the election as the main factors increasing demand.
−Removed: Nonresidential construction activity has also improved since the prior year.
−Removed: Core deposits decreased slightly, as customers continue to move funds into higher yielding interest-bearing accounts.
−Removed: Commercial loan demand, including commercial real estate, increased slightly during 2024, while other consumer loan demand softened.
+Added: These levels decreased from the December 2024 unemployment range of 2.9% to 4.6%.
+Added: Labor demand remained fairly flat, while competition for workers with specialized skills has put upward pressure on labor costs.
+Added: The local housing market has increasing inventory levels compared to prior years.
+Added: Commercial loan demand, including commercial real estate, increased steadily during 2025 along with increased demand for consumer mortgage, home equity lines of credit and consumer construction loans as stable interest rates contributed to the growth.
+Added: Nonresidential construction loan balances declined as projects were completed and moved to permanent financing.
+Added: Demand for consumer installment and indirect loans softened in 2025.
+Added: All deposit types increased and customers continue to move funds into higher yielding interest-bearing accounts.
Certain risks are involved in providing loans, including, but not limited to, the borrowers’ ability and willingness to repay the debt.
30 unchanged sentences
Loans for used RV’s and automobiles do not exceed 120% of the “clean trade-in value” as reported in the current “J.D.
−Removed: Power” used guides.
+Added: Power” used vehicle guides.
Overdraft protection loans are unsecured personal lines of credit to individuals who have demonstrated good credit character with reasonably assured sources of income and satisfactory credit histories.
4 unchanged sentences
Accordingly, all of the Company’s banking operations are considered by management to be aggregated in one reportable operating segment.
−Removed: For a discussion of the Company’s financial performance for the fiscal year ended December 31, 2024, see the Consolidated Financial Statements and Notes to the Consolidated Financial Statements found in Item 8 of this Annual Report on Form 10-K.
+Added: For a discussion of the Company’s financial performance for the fiscal year ended December 31, 2025, see item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations and item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K.
On December 31, 2025, the Company had 190 employees, 168 of which were employed on a full-time basis.
52 unchanged sentences
The Regulatory Relief Act also relieves bank holding companies and banks with consolidated assets of less than $100 billion, including CSB, from certain record-keeping, reporting and disclosure requirements.
−Removed: Certain other regulatory requirements applied only to banks with assets in excess of $50 billion and so did not apply to CSB even before the enactment of the Regulatory Relief Act.
Current Expected Credit Loss Model
9 unchanged sentences
Capital levels as measured by these standards are also used to categorize financial institutions for purposes of certain Prompt Corrective Action regulatory provisions.
−Removed: In July 2013, the United States banking regulators issued new capital rules applicable to smaller banking organizations which also implement certain of the provisions of the Dodd-Frank Act (the “Basel III Capital Rules”).
−Removed: Community banking organizations, including CSB, began transitioning to the new rules on January 1, 2015.
−Removed: The new minimum capital requirements became effective on January 1, 2015;
−Removed: while a new capital conservation buffer and deductions from common equity capital phased in from January 1, 2016 through January 1, 2019, and most deductions from common equity tier 1 capital phased in from January 1, 2015 through January 1, 2019.
+Added: In July 2013, the United States banking regulators issued capital rules applicable to smaller banking organizations which also implement certain of the provisions of the Dodd-Frank Act (the “Basel III Capital Rules”).
The Basel III Capital Rules include (i) a minimum common equity tier 1 capital ratio of 4.5%, (ii) a minimum tier 1 capital ratio of 6.0%, (iii) a minimum total capital ratio of 8.0%, and (iv) a minimum leverage ratio of 4.0%.
7 unchanged sentences
The Basel III Capital Rules place restrictions on the payment of capital distributions, including dividends, and certain discretionary bonus payments to executive officers in the event the Company does not hold a capital conservation buffer of greater than 2.5% composed of common equity tier 1 capital above its minimum risk-based capital requirements, or if its eligible retained income is negative in that quarter and its capital conservation buffer ratio was less than 2.5% at the beginning of the quarter.
−Removed: Pursuant to the FRB’s Small Bank Holding Company Policy statement (“SBHC Policy”), as amended in September 2018, a bank holding company with assets of less than $3 billion and meeting certain other requirements is not required to comply with the consolidated capital requirements until such company exceeds $3 billion in assets or is otherwise determined by the FRB not to qualify as a small bank holding company.
+Added: Pursuant to the FRB’s Small Bank Holding Company Policy statement (“SBHC Policy”), a bank holding company with assets of less than $3 billion and meeting certain other requirements is not required to comply with the consolidated capital requirements until such company exceeds $3 billion in assets or is otherwise determined by the FRB not to qualify as a small bank holding company.
On December 31, 2023, CSB was deemed to be a small bank holding company under the SBHC Policy and was not required to comply with the FRB’s regulatory capital requirements.
The Bank, however, must comply with the new capital requirements.
−Removed: The implementation of the Basel III Capital Rules did not have a material impact on CSB’s or the Bank’s capital ratios.
Prompt Corrective Action
20 unchanged sentences
As a result, the FDIC adopted a restoration plan requiring the restoration of the DRR to 1.35% within eight years (September 30, 2028).
−Removed: The FDIC rules further changed the method of determining risk-based assessment rates for established banks with less than $10 billion in assets to better ensure that banks taking on greater risks pay more for deposit insurance than banks that take on less risk.
−Removed: In the FDIC’s most recent semiannual update for the Amended Restoration Plan in November 2023, the FDIC noted that increased loss provisions associated with the failures of Silicon Valley Bank, Signature Bank and First Republic Bank in 2023 that reduced the DIF balance, coupled with strong growth in insured deposits, resulted in the reserve ratio declining 15 basis points from 1.25% as of December 31, 2022 to 1.10% as of June 30, 2023.
−Removed: Despite the decline in the reserve ratio, the FDIC staff projected that the reserve ratio remains on track to reach the statutory minimum of 1.35% ahead of the deadline of September 30, 2028.
−Removed: As a result, the FDIC staff recommended no changes to the Amended Restoration Plan and all scheduled assessment rates were maintained.
−Removed: On November 16, 2023, the FDIC adopted a final rule implementing a special assessment to recover the loss to the DIF arising from the protection of uninsured depositors following the failures of Silicon Valley Bank and Signature Bank.
−Removed: The assessment base for the special assessment is equal to an insured depository institution’s estimated uninsured deposits reported for the quarter ended December 31, 2022, adjusted to exclude the first $5 billion in estimated uninsured deposits.
−Removed: The FDIC will collect the special assessment at an annual rate of approximately 13.4 basis points, over eight quarterly assessment periods, beginning with the first quarter of 2024.
−Removed: Because the Bank’s uninsured deposits were less than $5 billion for the quarter ended December 31, 2022, the Bank will not be subject to this special assessment.
As insurer, the FDIC is authorized to conduct examinations of, and to require reporting by, federally insured institutions.
3 unchanged sentences
The management of the Bank does not know of any practice, condition, or violation that might lead to termination of deposit insurance.
+Added: The FDIC requires insured depository institutions with total assets in excess of $1 billion to have an annual independent audit made of the institution’s financial statements by an independent public accountant to verify that the financial statements of the institution are presented fairly and in accordance with generally accepted accounting principles and comply with such other disclosure requirements as prescribed by the FDIC.
+Added: Effective January 1, 2026, the FDIC amended its rules and regulations to, in part, increase the threshold requirement for insured depository institutions to obtain an independent auditor’s report on the institution’s internal control over financial reporting from $1 billion in total assets to $5 billion in total assets.
Limits on Dividends and Other Payments
35 unchanged sentences
The Bank received a rating of “outstanding" in its most recent CRA examination.
−Removed: On October 24, 2023, the federal banking agencies, including the Federal Reserve Board, issued a final rule designed to strengthen and modernize the regulations implementing the CRA.
−Removed: The changes are designed to encourage banks to expand access to credit, investment and banking services in low- and moderate-income communities, adapt to changes in the banking industry, including mobile and internet banking, provide greater clarity and consistency in the application of the CRA regulations, and tailor CRA evaluations and data collection to bank size and type.
−Removed: The applicability date for the majority of the changes to the CRA regulations is January 1, 2026, and additional requirements will be applicable on January 1, 2027.
−Removed: CSB cannot predict the impact the changes to the CRA will have on its operations at this time.
Customer Privacy
107 unchanged sentences
December 31, 2025
+Added: December 31, 2024
(Dollars in thousands)
48 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.