The Commercial and Savings Bank Announces Agreement to Acquire Wooster Branches of Premier Bank & Trust

Eddie Steiner, Chairman of The Commercial and Savings Bank CSBB, and Rick Hull, President and CEO of Premier Bank & Trust OLCB, today announced that CSB has entered into a definitive agreement with Premier to acquire certain assets and assume certain liabilities of Premier's Wooster branches. The transaction is subject to regulatory approval and other customary closing conditions and is expected to close in the fourth quarter of 2011. Under the terms and conditions of the transaction, CSB will acquire Premier's two Wooster branch office locations and total loans of approximately $8.5 million, and will assume total deposits of approximately $80 million. The loans are primarily owner-occupied commercial real estate, commercial and industrial. The deposits are primarily core and time deposits, including checking, money market, savings accounts and certificates of deposit. Steiner said in a statement, “This transaction will extend CSB's retail banking presence into the Wooster market and complement our existing commercial banking and trust activities already serving the area. We are eager to begin serving many new customers and look forward to welcoming the Wooster staff to our CSB team.” Hull stated, “The transaction with CSB fits our strategic plan, which is to concentrate our banking activities in our core market of Stark County, leaving us open to future expansion. We have been acquainted with the leadership at CSB for a number of years and we find them to be people of great integrity. We believe that having CSB as our successor in Wooster places our employees with a good company and our clients with a banking organization that will serve them well.”