Exhibit 99.1


Release Date:
Further Information:
August 1, 2019
Alvin B. Parmiter
President and CEO
              or
Sherman E. Crum
Principal Financial Officer
Phone: (740) 732-5678


COMMUNITY SAVINGS BANCORP, INC. ANNOUCES FOURTH QUARTER AND YEAR END EARNINGS

    Caldwell, OH – Community Savings Bancorp, Inc. (OTC:CCSB), the holding company for Community Savings, announced today that net loss for the quarter ended June 30, 2019 was $36,000, or $0.10 per share, compared to $714,000, or $2.22 per share for the same period in 2018.  Net loss for the year ended June 30, 2019 was $159,000, or $0.41 per share, compared to $1.0 million, or $2.48 per share for the year ended June 30, 2018.
    For the fiscal year ended June 30, 2019, we had a net loss of $159,000 compared to a net loss of $1.0 million for the fiscal year ended June 30, 2018, a decrease net loss of $855,000.  The decrease in net loss was due primarily to a $732,000 decrease in noninterest expense, a $180,000 increase in net interest income, and a $127,000 increase in noninterest income, partially offset by a $184,000 decrease in federal income tax benefits.
Interest income increased $198,000, or 11.1%, to $2.0 million for the fiscal year ended June 30, 2019 from $1.8 million for the fiscal year ended June 30, 2018. The increase resulted primarily from a $205,000 increase in loan interest income and an increase of $26,000 in interest on interest-earning deposits, partially offset by a decrease of $32,000 in interest on investments. The average balance of investment securities decreased $1.9 million, or 22.6%, to $5.8 million during the fiscal year ended June 30, 2019 from $7.7 million during the fiscal year ended June 30, 2018, and the average yield on investment securities increased 13 basis points to 2.27% for fiscal 2019 from 2.14% for fiscal 2018. The decrease in average balance of investment securities resulted from maturities and pay downs of investment securities.  The average balance of loans receivable increased $2.8 million, or 8.6%, to $35.3 million during the fiscal year ended June 30, 2019 compared to the fiscal year ended June 30, 2018, and the average yield on loans increased 22 basis points to 4.65% during fiscal 2019 from 4.43% during fiscal 2018, reflecting higher market interest rates.
Interest expense increased $18,000, or 10.3%, to $193,000 for the fiscal year ended June 30, 2019 from $175,000 for the fiscal year ended June 30, 2018. Interest expense on deposits increased $7,000, or 5.6%, to $133,000 for fiscal 2019 from $126,000 for fiscal 2018. The increase was primarily due to an increase of two basis points in the average cost of interest-bearing deposits to 0.40% for the fiscal year ended June 30, 2019 from 0.38% for the fiscal year ended June 30, 2018 and an increase of $725,000, or 2.2%, in the average balance of interest-bearing deposits to $33.6 million for fiscal 2019 from $32.9 million for fiscal 2018, reflecting the effects of an increasing interest rate environment.  Interest expense on borrowings increased $11,000 to $60,000 for the fiscal year ended June 30, 2019 from $49,000 for the fiscal year ended June 30, 2018.  The average balance of advances increased $1.0 million to $2.3 million for the fiscal year ended June 30, 2019 from $1.3 million for the fiscal year ended 2018, while the average cost of these advances decreased 112 basis points to 2.63% from 3.75% year to year, as we renewed a long term advance at a lower interest rate.

Net interest income increased $180,000, or 11.2%, to $1.8 million for the fiscal year ended June 30, 2019 from $1.6 million for the fiscal year ended June 30, 2018. The increase resulted from an increase of 36 basis points in our interest rate spread to 3.52% for fiscal 2019 from 3.16% for fiscal 2018.  Our net interest margin increased by 35 basis points to 3.66% for fiscal 2019 from 3.31% for fiscal 2018.

Noninterest income increased $127,000, or 45.7%, to $405,000 for the fiscal year ended June 30, 2019 from $278,000 for the fiscal year ended June 30, 2018. The increase was due primarily to an increase of $69,000 in service charges and fees, a $47,000 increase in gain on the sale of foreclosed assets, an increase of $6,000 in other operating income, and an increase of $5,000 in cash surrender value of bank owned life insurance.




The following information was filed by Community Savings Bancorp, Inc. (CCSB) on Thursday, August 1, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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