Parent Company of Community State Bank Reports Continued Solid Growth in 2002.

Business Editors

TEANECK, N.J.--(BUSINESS WIRE)--Jan. 29, 2003

CSB Financial Corp., the parent of Community State Bank, an independent state-chartered commercial bank headquartered at 417 Cedar Lane, Teaneck, NJ, reported that it continued its solid growth pattern during 2002.

CSB Financial Corp. reported that net income for the year ended December 31, 2002 reached $1,088,000 or $.99 per share, an increase of 497% over 2001. CSB Financial reported that the return on average equity for the 2002 year was 10.02%.

Community State Bank reported a 21% increase in asset growth, with total assets at year-end 2002 of $122.2 million, as compared to $101.4 million at year-end 2001. The bank ended the year 2002 with $87.8 million in total outstanding loans and $105.6 million in deposits.

"We are very pleased with our growth pattern," said Lubow. "We have always been careful to ensure that people can come to our bank with the certainty that their money will be safe with us.

"To keep that trust, we stay up to the minute with changes in the national economic picture, and we remain on the leading edge of technological advances in banking. These measures are a commitment to our customer base, and we adhere to them faithfully," he said.

As part of Community State Bank's continued plan for growth, the bank opened its fourth branch office in April located at 42 North Dean Street in Englewood; to-date, the branch growth has exceeded expectations.

In addition to the ability to bank at its "traditional" offices, CSB also offers its customers the convenience of online banking at branch24.com. Available for both businesses and consumers, branch24.com can provide them with access to their CSB accounts and to a wealth of transaction-based Internet products.

Community State Bank complements its depository services with Small Business Administration and commercial lending, residential mortgage and consumer lending. Additionally, the bank offers telephone banking service and free commercial and personal checking products. Several office locations have full-service banking hours seven days a week.

Community State Bank has received the highest 5-star rating from bank rating service, BauerFinancial of Coral Gables, Florida for 12 consecutive quarters.

For information on any of its products and services, the bank can be contacted at 201/836-8300 or through its informational Web site, www.csbnj.com.

Community State Bank is headquartered at 417 Cedar Lane, Teaneck. The bank also has three other full-service branch offices at 235 Main Street, Hackensack, at 139 Kinderkamack Road in Park Ridge, and the new Englewood location at 42 North Dean Street. The bank is a member of the FDIC and is an Equal Opportunity Lender.