CSB Bancorp (CSBB) 8-K CSB Bancorp, Inc. Reports Earnings for First Quarter 2010

Exhibit 99.2

FINANCIAL HIGHLIGHTS

(DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)

	AT OR FOR THE THREE MONTHS
	ENDED MARCH 31
	2010		2009
Assets	$	435,622	$	422,390
Net loans	$	306,543	$	316,023
Securities	$	73,727	$	70,514
Deposits	$	326,204	$	304,591
Shareholders’ equity	$	46,171	$	44,392
Net income	$	737	$	896
Earnings per share	$	0.27	$	0.33
Book value per outstanding share	$	16.88	$	16.23

KEY RATIOS

	AT OR FOR THE THREE MONTHS
	ENDED MARCH 31
	2010			2009
Return on average assets		0.67	%		0.86	%
Return on average equity		6.44	%		8.20	%
Net interest margin (tax equivalent)		3.78	%		3.99	%
Net loans to deposits		93.97	%		103.75	%
Allowance for loan loss to total loans		1.40	%		1.07	%
Period-end tangible equity to assets		10.15	%		10.09	%
Efficiency ratio		64.83	%		67.37	%

DIRECTORS

Robert K. Baker	Jeffery A. Robb, Sr.
Ronald E. Holtman	Eddie L. Steiner
J. Thomas Lang	John R. Waltman
Daniel J. Miller	Chairman

EXECUTIVE OFFICERS

Eddie L. Steiner
President and Chief Executive Officer

Rick L. Ginther
President,
The Commercial & Savings Bank

Paul D. Greig
Chief Operations/Information Officer

Paula J. Meiler
Chief Financial Officer

STOCK PERFORMANCE & DIVIDENDS

								CASH
QUARTER		TRADE PRICE				CLOSING		DIVIDEND
ENDING		HIGH		LOW		PRICE		DECLARED
	6/30/08		18.00		15.75		15.75		0.18
	9/30/08		16.25		14.40		15.25		0.18
	12/31/08		16.00		14.00		15.00		0.18
	3/31/09		14.50		12.25		14.00		0.18
	6/30/09		17.00		13.26		16.00		0.18
	9/30/09		16.00		14.25		15.20		0.18
	12/31/09		15.50		14.57		15.25		0.18
	3/31/10		15.95		14.05		14.60		0.18

ADDITIONAL STOCK INFORMATION

STOCK LISTING
Common:
Symbol — CSBB.OB

STOCK TRANSFER
Registrar & Transfer Company
Attn: Investor Relations
10 Commerce Drive
Cranford, NJ 07016
(800) 368-5948

Copies of CSB Bancorp, Inc.
S.E.C. Filings may be obtained by writing:

Paula J. Meiler, CFO
CSB Bancorp, Inc.
91 North Clay Street
Millersburg, OH 44654
(330) 674-9015 or
(800) 654-9015

“Remember to call CSB for all your financial needs,
whether to borrow, save or invest.”

DEAR FELLOW SHAREHOLDER

We are pleased to enclose with this letter a first quarter dividend of $0.18 per share. CSB has sustained this dividend level for the past three years, while many banks have reduced or suspended the payment of dividends.

The Company remains profitable, and our capital and liquidity levels are strong. However, revenue generation has been impacted by soft loan demand in our markets, and by the prevailing environment of low interest rates on loans and investment securities. Higher provisions for potential loan losses also curtailed this quarter’s earnings.

Signs of improvement in national economic conditions are becoming apparent. Still, the overall pace of recovery may be frustratingly slow during 2010 because of very high levels of unemployment, mortgage delinquencies and home foreclosures.

The regulatory structure that oversees banking activities is under intense government scrutiny in an effort to preclude any repeat of the recent financial crisis. Additional regulations are a virtual certainty, along with increases in the cost of doing business as a bank.

The good news about this public policy review is there seems to be growing recognition in Congress and the media that community banks did not cause the economic crisis, and further, community banks are vital to keeping local economies viable and growing. We have a deep appreciation for our shareholders and customers, who share this recognition, and who actively support our community banking efforts. We strive to provide high value in return for that support.

Our business model depends to a large extent on sustainable economic activity within the markets we serve. Local economic activity provides our primary source of funding through customer deposits, and is a key determinant of loan demand and credit quality. Many households and businesses in our markets have been adversely impacted by the recession. Loan delinquencies have increased and we are doing what we can to assist struggling borrowers. We expect that it will take some time for loan demand and credit conditions to return to pre-recession levels.

Overall, we are cautiously optimistic that 2010 will transition into better economic conditions. We remain focused on excellence in customer service, safe and sound banking practices, and increasing value for our shareholders. It is through these efforts that we act responsibly as a corporate citizen, doing our part in restoring the American economy and helping to build and maintain strong communities.

On behalf of the Board of Directors,

EDDIE L. STEINER	JOHN R. WALTMAN
President and CEO	Chairman
CSB Bancorp, Inc.	CSB Bancorp, Inc.

CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED)
(DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA)

	MARCH 31
	2010			2009
ASSETS:
Cash and due from banks	$	36,682		$	19,551
Securities		73,727			70,514
Loans held for sale		670			0
Net loans		306,543			316,023
Premises & equipment, net		8,224			8,369
Other assets		9,776			7,933
TOTAL ASSETS	$	435,622		$	422,390
LIABILITIES:
Deposits	$	326,204		$	304,591
Securities sold under agreements to repurchase		29,621			20,417
Other borrowings		32,210			50,590
Other liabilities		1,416			2,400
TOTAL LIABILITIES	$	389,451		$	377,998
SHAREHOLDERS’ EQUITY:
Common stock	$	18,629		$	18,629
Additional paid-in capital		9,994			9,988
Retained earnings		21,391			20,128
Treasury stock		(5,015	)		(5,015	)
Accumulated other comprehensive income		1,172			662
TOTAL SHAREHOLDERS’ EQUITY	$	46,171		$	44,392
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	435,622		$	422,390
CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) (DOLLARS IN THOUSANDS EXCEPT PER SHARE DATA)
	THREE MONTHS ENDED MARCH 31
	2010			2009
INTEREST INCOME:
Interest and fees on loans	$	4,302		$	4,621
Interest on securities		835			956
Other interest income		19			3
TOTAL INTEREST INCOME		5,156			5,580
INTEREST EXPENSE:
Interest on deposits		876			1,163
Other interest expense		399			523
TOTAL INTEREST EXPENSE		1,275			1,686
Net interest income		3,881			3,894
Provision for loan losses		519			241
Net interest income after provision for loan losses		3,362			3,653
Noninterest income		731			796
Noninterest expense		3,041			3,129
Net income before federal income taxes		1,052			1,320
Federal income tax provision		315			424
NET INCOME	$	737		$	896
EARNINGS PER SHARE	$	0.27		$	0.33