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CSB Bancorp, Inc. (OTCPink:CSBB), a state commercial bank headquartered in Millersburg, Ohio, with a market capitalization of $108 million and currently trading at $40.89, conducted its 2025 Annual Meeting of Shareholders on Tuesday, with a significant turnout of shareholders casting their votes. According to InvestingPro data, the bank has demonstrated strong returns over both one-month and three-month periods, despite trading above its Fair Value. At the meeting, shareholders voted on several key proposals, including the election of directors and the appointment of the company’s independent auditor.
The bank reported that out of the 2,644,072 common shares entitled to vote, 1,935,164 shares, or 73%, were represented at the meeting, either in person or by proxy. The bank, which maintains a healthy P/E ratio of 10.15 and has remained profitable over the last twelve months with earnings per share of $4.03, saw shareholders re-elect two directors, Cheryl M. Kirkbride and Stephen E. Schillig, to serve three-year terms expiring at the 2028 Annual Meeting. Kirkbride secured 1,228,205 votes in favor, while Schillig received 1,220,664 votes, both with a notable number of broker non-votes. Discover more financial insights about CSBB and other banks with an InvestingPro subscription.
Additionally, shareholders ratified the appointment of S.R. Snodgrass, P.C. as the independent registered public accounting firm for CSB Bancorp for the fiscal year ending December 31, 2025. The decision was nearly unanimous, with 1,930,974 votes in favor, only 791 against, and 3,399 abstentions.
In a non-binding advisory vote, the compensation of CSB’s named executive officers as disclosed in the Proxy Statement was approved with 1,211,413 votes for, 20,076 against, and 43,254 abstentions, along with the same number of broker non-votes as the director elections.
Furthermore, shareholders recommended, also in a non-binding vote, that future shareholder advisory votes on executive compensation occur every three years. This proposal received the most support with 871,936 votes, compared to 116,931 for every two years, 178,615 for every year, and 106,118 abstentions.
The results of the Annual Meeting reflect the shareholders’ decisions on the governance and oversight of CSB Bancorp, as well as their input on executive compensation practices. With an overall financial health score rated as "GOOD" by InvestingPro, the bank maintains a solid foundation for future growth. The company’s SEC filing on Thursday, April 24, 2025, documented these outcomes, providing transparency and compliance with regulatory requirements.
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