Businessweek

CCSB Financial Corp. operates as the holding company for Clay County Savings Bank (the Bank). The Bank operates as a community-oriented savings institution offering a variety of financial products and services to meet the needs of the communities it serves. The Bank’s principal business consists of attracting retail deposits from the general public in the areas surrounding its branches and investing those deposits, together with funds generated from operations and borrowings, primarily in one to four-family residential mortgage loans, construction loans, multi-family and commercial real estate loans, mortgage-related securities and various other securities. The Bank also invests in commercial business loans and consumer and other loans, including home equity and automobile loans. Market Area The Bank serves communities located in Clay and Platte Counties and in surrounding counties in Missouri from its main office and branch office in Liberty and its branch offices in Kearney and Smithville. Liberty, Kearney and Smithville are all located in Clay County, which is part of the Kansas City Metropolitan Statistical Area. The Bank has four offices located in Clay County, Missouri. The main office and a branch office are located in Liberty, and branch offices are also located in Kearney and Smithville. Lending Activities The Bank’s loan portfolio includes real estate loans, primarily permanent and construction financing of single-family homes. In addition to the permanent and construction financing of one- to four-family real estate, the Bank originates loans secured by multi-family and nonresidential real estate, consumer loans (primarily home equity loans and lines of credit) and commercial non-real estate loans. The Bank participates in one nonresidential real estate loan with the Bank. It originates primarily adjustable-rate, balloon and short- and medium-term, fixed-rate loans for the loan portfolio. The Bank sells its balloon and fixed-rate single-family, owner-occupied real estate loans through the secondary market. One- to Four-Family Real Estate Loans: The Bank’s primary lending activity consists of originating one- to four-family, residential real estate loans, secured by properties located in its market area. Construction, Land and Land Development Loans: The Bank originates three types of residential construction loans construction/speculative loans, construction/custom loans, and construction/permanent loans. It also originates construction loans on multi-family or nonresidential properties, land development loans to area homebuilders that are secured by individual unimproved or improved residential building lots, and loans secured by land held for future development. Construction/speculative loans are made to area homebuilders who do not have, at the time the loan is originated, a signed contract with a homebuyer who has a commitment for permanent financing with either the Bank or another lender. Construction/custom loans are made to either an individual who has contracted with a builder to construct their personal residence, or to a builder who has a signed contract to build a new home for the homeowner. Commercial Real Estate Loans: These commercial real estate loans include loans secured by improved property such as offices, churches, small business facilities, strip mall shopping centers, motels, and other income producing, non-residential buildings. The Bank offers commercial real estate loans with adjustable rates, short-term fixed rates (10 years or less) or longer-term (with amortization schedules of up to 25 years) loans with balloon features. The adjustable-rate commercial real estate loans are generally tied to the prime rate. It obtains appraisals on properties securing commercial real estate loans. Multi-Family Loans: The Bank offers multi-family real estate loans with adjustable rates, short-term fixed rates or longer-term loans with balloon features. Consumer Loans: The Bank is authorized to make loans for various consumer purposes. Consumer loans comprise home equity loans, home equity lines of credit, automobile loans and loans on deposits. Home equity loans and home equity lines of credit are generally made for owner-occupied homes, and are secured by first or second mortgages on residences. Home equity loans provide for a one-time advance of funds, while home equity lines of credit are revolving lines of credit. Automobile loans are made directly to the car buyers, and the Bank does not participate in indirect automobile loan programs though car dealerships. Commercial Business Loans: In addition to commercial real estate loans, the Bank also engages in small commercial non-real estate lending, including business installment loans, lines of credit and other commercial loans. The Bank originates both secured and unsecured commercial business loans to businesses located in its primary lending area. Investment Activities The Bank’s investment portfolio includes various types of liquid assets, including United States government obligations, securities of various federal agencies and of state and municipal governments, deposits at the FHLB of Des Moines, certificates of deposit of federally insured institutions, certain bankers’ acceptances and federal funds. Deposits The Bank’s deposit products include personal and commercial checking, NOW, money market, statement and passbook savings, and term certificate accounts. History CCSB Financial Corp. was founded in 1922.