Csb Bancorp (CSBB) has reported 16.89 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $1.73 million, or $0.63 a share in the quarter, compared with $1.48 million, or $0.54 a share for the same period last year.

Revenue during the quarter grew 16.60 percent to $7.13 million from $6.11 million in the previous year period. Net interest income for the quarter rose 10.92 percent over the prior year period to $5.86 million. Non-interest income for the quarter rose 11.49 percent over the last year period to $1.11 million.

Csb Bancorp has made negative provision of $0.16 million for loan losses during the quarter, compared with a positive provision of $0.16 million in the same period last year.

Net interest margin improved 28 basis points to 3.85 percent in the quarter from 3.57 percent in the last year period. Efficiency ratio for the quarter deteriorated to 65.39 percent from 62.20 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

Eddie Steiner, President and chief executive officer stated, 'We are pleased to report strong first quarter earnings. Demand for business and consumer loans remains steady, resulting in higher loan balances and increased earnings."

Deposits stood at $542.18 million as on Mar. 31, 2017, up 6.31 percent compared with $509.98 million on Mar. 31, 2016.

Noninterest-bearing deposit liabilities were $171.24 million or 31.58 percent of total deposits on Mar. 31, 2017, compared with $145.97 million or 28.62 percent of total deposits on Mar. 31, 2016.

Investments stood at $134.66 million as on Mar. 31, 2017, down 12.49 percent or $19.22 million from year-ago. Shareholders equity was at $66.93 million as on Mar. 31, 2017.

Return on average assets moved up 12 basis points to 1.05 percent in the quarter from 0.93 percent in the last year period. At the same time, return on average equity increased 106 basis points to 10.54 percent in the quarter from 9.48 percent in the last year period.

Nonperforming assets moved up 156.34 percent or $2.99 million to $4.91 million on Mar. 31, 2017 from $1.92 million on Mar. 31, 2016.

Average equity to average assets ratio was 9.98 percent for the quarter, up from 9.77 percent for the previous year quarter. Book value per share was $24.41 for the quarter, up 6.59 percent or $1.51 compared to $22.90 for the same period last year.