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March 24, 2023


Dear Shareholder:

This past year, just as the many before it, has been filled with excitement and a few scary times, however, we were able to overcome everything that we found ourselves faced with. I will begin with the exciting things.

We successfully opened our ninth office, located in Mercersburg, Franklin County.  We are excited to be part of that community and have been welcomed with open arms.  We were at $432,044,229 in total assets by the end of 2021, and grew to $452,838,327 by the end of 2022.  This reflects a growth of over $30 million.  Even as we were establishing a new branch, we were able to maintain our earnings per share at $1.49.  Our deposits grew by over $17.5 million, while our loans grew by approximately $30 million.

We have been looking for ways to generate non-interest income, as well as expand our services.  During 2022, we feel that we came up with the perfect solution.  We are in the works of finalizing plans to purchase Brown & Walters Insurance Agency.  We are hoping that this will be completed within the next few months.  This should increase our non-interest income, and at the same time, allow us to offer the feeling of community-based service, that is so richly woven into the tradition of Community State Bank, within the insurance industry.

Now for the scary part. As you have probably heard, we had two bank robberies in 2022.  One at our St. Thomas branch and one at our Mercersburg branch.  Our staff handled both of these robberies just as they were trained to do. Thankfully, no one was hurt and we have been informed that the offender has been arrested and awaiting arraignment.   

Now for the exciting and scary part.  After 43 years of being a part of the Community State Bank family, I am going to retire.  This is both exciting and scary because I cannot imagine what it will be like when I am no longer a member of this great team.   I have valued my relationships with fellow workers, the customers, the board members, and you, the shareholders.  I have taken great pride in being a part of this organization every day and I will miss each and every one, but excited to begin my new chapter. There are many outstanding people that make up the CSB team and I can assure you that I will be leaving you in very capable hands. 

Thank you for all of your support during my time at Community State Bank, and I wish everyone all the best in the upcoming years!




Trudy K. Everhart


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