AVILLA — Community State Bank has announces that it generated $1,430,000 of earnings as of March 31, 2024, representing 15% earnings increase in comparison to March 31, 2023. Further, the bank’s asset base climbed 16% over the same period and stood at $463 million as of March 31, 2024.
The bank also announced the board of directors approved a first quarter dividend payout of $1.02 per share, up 2% from the fourth quarter of fiscal year 2023.
Community State Bank CEO Will Thatcher said, “We are pleased with the first quarter earnings. Overcoming the headwinds of rapidly rising deposit costs over the past five quarters has been a challenge for us and the industry. We have benefitted from 14% growth in loans but no less important is that the bank has been able to grow its deposit base by 11% in a highly competitive marketplace...
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