SANDUSKY, Ohio, Dec. 19, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") announced today that it will issue its fourth quarter 2025 financial results prior to market open on Thursday, January 29, 2026. Civista Bancshares, Inc. will also host a conference call and webcast at 1:00 p.m. Eastern Time on Thursday, January 29, 2026, to discuss its financial results.  Analysts may participate in the question-and-answer session. Conference Call, Replay and Webcast Information: Date:  Thursd ...

Core Points - Civista Bancshares, Inc. has successfully completed its merger with The Farmers Savings Bank, marking a strategic expansion into Medina and Lorain Counties in Ohio [1][2][3] - The merger adds approximately $236 million in low-cost deposits and two new branches to Civista's portfolio, resulting in a combined total of approximately $4.4 billion in assets, $3.2 billion in net loans, and $3.5 billion in total deposits [2][3] Company Overview - Civista Bancshares, Inc. is a $4.4 billion financial holding company headquartered in Sandusky, Ohio, with its primary subsidiary, Civista Bank, providing full-service banking, commercial lending, mortgage, and wealth management services [4] - Civista Bank operates 44 locations across Ohio, Southeastern Indiana, and Northern Kentucky, and offers commercial equipment leasing services nationwide [4] Leadership Statements - Dennis G. Shaffer, President and CEO of Civista Bancshares, emphasized the merger as a significant step in delivering exceptional community banking services and enhancing commercial lending capabilities [3] - Tom Lee, President and CEO of The Farmers Savings Bank, noted that joining Civista allows for continued community-focused banking while gaining access to expanded resources and expertise [3]

Financial Position - Total assets increased by $14,865, or 0.4%, to $4,113,334 as of September 30, 2025, compared to $4,098,469 at December 31, 2024[156] - Total liabilities decreased by $95,661, or 2.6%, to $3,614,306 as of September 30, 2025, primarily due to a reduction in short-term FHLB advances[156] - Total deposits increased by $18,593 to $3,230,463 as of September 30, 2025, with time deposits rising by 28.0%[167] - Shareholders' equity increased to $499,028, or 12.1% of total assets, from $388,502, or 9.5% of total assets, at December 31, 2024[170] - The Company's total risk-based capital ratio was 17.8% as of September 30, 2025, up from 13.9% at December 31, 2024, exceeding regulatory minimum guidelines[203] Loan and Credit Performance - Net loans increased by $14,179, or 0.5%, to $3,055,740 as of September 30, 2025, with significant growth in Residential Real Estate loans[158] - The loan to deposit ratio was 95.8% as of September 30, 2025, compared to 95.9% at December 31, 2024[158] - Provisions for credit losses totaled $2,792 for the first nine months of 2025, down from $4,668 in the same period of 2024[159] - Net charge-offs for the first nine months ended September 30, 2025 totaled $2,212, an increase from $1,080 for the same period in 2024, with a total of 45 loans and leases charged off[161] - The allowance for credit losses as a percentage of total loans was 1.30% at September 30, 2025, compared to 1.29% at December 31, 2024[163] Income and Expenses - Net income for the three months ended September 30, 2025 was $12,760, an increase of $4,394 from $8,366 for the same period in 2024[172] - Net interest income for the three months ended September 30, 2025 was $34,545, up $5,312 from $29,233 in the same period of 2024[173] - Total interest and dividend income increased to $55,240 for the three months ended September 30, 2025, a rise of $2,499 from $52,741 in 2024[174] - Total interest expense decreased by 12.0% to $20,695 for the three months ended September 30, 2025, compared to $23,508 for the same period in 2024[176] - Total noninterest expense for the three months ended September 30, 2025, was $28,327, a slight decrease of $68 or 0.2% from $28,395 in 2024[184] Market and Strategic Activities - The company entered into a merger agreement with The Farmers Savings Bank, which has total assets of $293 million and total deposits of $236 million[151] - The merger agreement includes a cash payment of $34.925 million and the issuance of 1,434,491 common shares, with an aggregate deal value of approximately $66.7 million[152] - An underwritten public offering raised approximately $75.7 million in net proceeds, which will support organic growth opportunities and future strategic transactions[155] - The company has received all required regulatory approvals for the merger, expected to close in November 2025, pending shareholder approval[153] Risk Management - The primary market risk exposure for the Company is interest-rate risk, which is managed through asset/liability management techniques[208] - The Company’s effective risk management practices are essential to maintaining interest-rate risk at prudent levels, ensuring safety and soundness[209] Portfolio Value and Asset Management - The net portfolio value increased from $603.2 million on December 31, 2024, to $720.1 million on September 30, 2025, representing a growth of 19.4%[217] - A 400 basis point increase in rates led to a net portfolio value of $783.9 million, an increase of 11.6% compared to the base scenario[217] - A 200 basis point decrease in rates resulted in a net portfolio value of $686.3 million, a decrease of 4.7%[217] - The company anticipates that projected movements in rates will lead to changes in market values, affecting both assets and liabilities[217] - The asset mix remains centered on loans and deposits, indicating a stable funding strategy[217]

Group 1 - The stock price of Civista Bancshares, Inc. (CIVB) has declined by approximately 4% since the downgrade in April 2025 [1] - The company has announced a new public offering of its shares following the downgrade [1]

Summary of Key Points Core Viewpoint - Civista Bancshares, Inc. (CIVB) has experienced a stock price decline of approximately 4% since a downgrade in April 2025, alongside the announcement of a new public offering of its shares [1]. Company Performance - The stock price of Civista Bancshares, Inc. has decreased by around 4% since the downgrade [1]. - The company has initiated a new public offering of its shares, indicating potential changes in capital structure or funding strategies [1].

Financial Data and Key Metrics Changes - The company reported net income of $12.8 million, or $0.68 per diluted share, representing a 53% increase from Q3 2024 and a 16% increase from the linked quarter [2] - Pre-provision net revenue increased by $4.9 million, or 45% year-over-year, and by $1.9 million, or 14% sequentially [3] - Net interest income totaled $34.5 million, consistent with the linked quarter, while the net interest margin declined by six basis points to 3.58% [3] - Non-interest income increased by $3 million, or 46.2% over the linked quarter, and was consistent with Q3 2024 [5] Business Line Data and Key Metrics Changes - Non-interest income for the quarter was $9.6 million, consistent with the prior year's third quarter, despite a $494,000 decline in leasing fees [6] - The company experienced a $55.1 million decline in total loans and leases, with significant declines in commercial and agricultural loans and non-owner occupied commercial real estate [8] - Residential loans increased by $27 million, indicating a shift in loan origination focus [9] Market Data and Key Metrics Changes - Total deposits grew by $33.4 million, with a $56.4 million increase in core deposit funding during the quarter [11][12] - The loan-to-deposit ratio was 95.8%, down from the linked quarter, with expectations to reduce this further post-acquisition of Farmers Savings Bank [14] Company Strategy and Development Direction - The company completed a follow-on common stock offering, raising $80.5 million to support organic growth and investments in technology and infrastructure [4] - The merger with Farmers Savings Bank is expected to enhance liquidity and expand the customer base, with preparations for system conversion underway [4][18] - The focus remains on organic growth, deepening customer relationships, and enhancing fee income through capital investments in technology and automation [25][27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic environment across their footprint, noting strong credit quality and stable credit metrics [16] - The company anticipates loan growth returning to a mid-single-digit range for Q4 and increasing into mid to high single digits in 2026 [10][34] - The effective tax rate for the quarter was 18.5%, with expectations to remain in the 16% to 16.5% range for the remainder of the year [28] Other Important Information - The company announced a quarterly dividend of $0.17 per share, consistent with the prior quarter, representing a 3.3% yield [5] - The tangible common equity ratio increased from 6.7% to 9.21% due to strong earnings and successful capital raise, with expectations of a decline post-merger [15] Q&A Session Summary Question: Margin outlook with potential rate cuts - Management anticipates a margin expansion of about five basis points in Q4, considering potential rate cuts [23] Question: Capital priorities post-Farmers acquisition - The focus will be on organic growth and increasing tangible book value, with a disciplined approach to M&A [24][25] Question: Confidence in achieving loan growth targets - Management expressed confidence due to a strong pipeline and historical loan-generating capabilities [34] Question: Fee income outlook - Anticipated fee income for Q4 is projected to be around $9.2 million, including contributions from Farmers Savings Bank [39] Question: Loan yield decline explanation - The decline was attributed to a mix shift and competitive pricing, with expectations for yield improvement as loans reprice [42][44] Question: Timing of Farmers acquisition closure - The acquisition is expected to close shortly after the shareholder meeting on November 4 [50]

Financial Data and Key Metrics Changes - The company reported net income of $12.8 million, or $0.68 per diluted share, representing a 53% increase from Q3 2024 and a 16% increase from the linked quarter [2] - Pre-provision net revenue increased by $4.9 million, or 45%, compared to Q3 2024, and by $1.9 million, or 14%, from the linked quarter [3] - Net interest income totaled $34.5 million, consistent with the linked quarter, while the net interest margin declined by 6 basis points to 3.58% [3] - Non-interest income increased by $3 million, or 46.2%, over the linked quarter, remaining consistent with Q3 2024 [6] Business Line Data and Key Metrics Changes - Non-interest income for the quarter was $9.6 million, consistent with the prior year's third quarter, despite a decline in leasing fees [7] - The company experienced a $55.1 million decline in total loans and leases, with significant declines in commercial and agricultural loans and non-owner occupied commercial real estate [9] - Residential loans increased by $27 million, indicating a shift in loan origination focus [10] Market Data and Key Metrics Changes - Total deposits grew by $33.4 million, with a $56.4 million increase in core deposit funding during the quarter [12] - The loan-to-deposit ratio was 95.8%, down from the linked quarter, with expectations to reduce this ratio further post-acquisition [15] - The securities portfolio had $44.5 million of unrealized losses, a reduction of $8.9 million since December 31, 2024 [15] Company Strategy and Development Direction - The company completed a follow-on common stock offering, raising $80.5 million to support organic growth and investments in technology and infrastructure [4] - The merger with Farmers Savings Bank is expected to enhance the company's deposit base and overall growth strategy [4][19] - The focus remains on organic growth, deepening customer relationships, and expanding digital services [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic environment across their footprint, noting strong credit quality and stable credit metrics [17] - The company anticipates loan growth returning to a mid-single-digit range for Q4 and increasing into the mid to high single digits in 2026 [11] - Management highlighted the importance of capital investments in technology and automation to improve efficiency and profitability [28] Other Important Information - The company announced a quarterly dividend of $0.17 per share, consistent with the prior quarter, representing a 3.3% yield [5] - The effective tax rate for the quarter was 18.5%, with expectations to remain in the 16%-16.5% range for the remainder of the year [29] Q&A Session Summary Question: Margin outlook with potential rate cuts - Management anticipates a margin expansion of about 5 basis points in Q4, considering potential rate cuts [24] Question: Capital priorities post-Farmers acquisition - The focus will be on organic growth and increasing tangible book value, with M&A opportunities evaluated on a disciplined basis [25][26] Question: Confidence in achieving loan growth targets - Management expressed confidence due to a strong pipeline and historical loan-generating capabilities [35] Question: Fee income outlook - Anticipated fee income for Q4 is projected to be around $9.2 million, including contributions from Farmers [40] Question: Loan yield decline explanation - The decline was attributed to a mix shift and non-recurring items from the previous quarter, with expectations for yield improvement from upcoming repricing [43][44] Question: Timing of Farmers acquisition closure - The acquisition is expected to close shortly after the shareholder meeting on November 4, likely before mid-November [52] Question: Loan competition and pricing - Competition has increased, with rates falling below 6.5%, but demand remains consistent across markets [55][57]

Financial Data and Key Metrics Changes - The company reported net income of $12.8 million, or $0.68 per diluted share, representing a 53% increase from Q3 2024 and a 16% increase from the linked quarter [3][4] - Pre-provision net revenue increased by $4.9 million or 45% compared to Q3 2024, and by $1.9 million or 14% from the linked quarter [4][18] - Net interest income totaled $34.5 million, consistent with the linked quarter, while the net interest margin declined by six basis points to 3.58% [4][12] Business Line Data and Key Metrics Changes - Non-interest income increased by $3 million or 46.2% over the linked quarter, driven primarily by a $1.4 million increase in leasing operation fees [6][7] - Non-interest expense was $28.3 million, an increase of $845,000 or 3.1% over the linked quarter, mainly due to non-recurring acquisition expenses related to the merger [7][8] - The efficiency ratio improved to 61.5% compared to 64.5% for the linked quarter and 70.5% for the prior year's third quarter [8] Market Data and Key Metrics Changes - Total deposits grew by $33.4 million, with a $56.4 million increase in core deposit funding during the quarter [12][15] - The loan-to-deposit ratio was 95.8%, down from the linked quarter, with expectations to reduce this ratio further post-acquisition [15][16] - The securities portfolio was $657 million, representing 16% of the balance sheet, with unrealized losses of $44.5 million [16] Company Strategy and Development Direction - The company completed a follow-on common stock offering, raising $80.5 million to support organic growth and investments in technology and infrastructure [5][19] - The merger with Farmers Savings Bank is expected to enhance liquidity and expand the customer base, with preparations for system conversion underway [5][19] - The focus remains on organic growth, deepening customer relationships, and enhancing fee income through capital investments in technology and automation [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic environment across their footprint, noting strong credit quality and stable credit metrics [17][18] - The company anticipates loan growth to return to a mid-single-digit range for Q4 and increase into the mid to high single digits in 2026 [11][30] - The effective tax rate for the quarter was 18.5%, with expectations to remain in the 16 to 16.5% range for the remainder of the year [26] Other Important Information - The company announced a quarterly dividend of $0.17 per share, consistent with the prior quarter, representing a 3.3% yield [6] - The tangible common equity ratio increased from 6.7% to 9.21% due to strong earnings and the capital raise, with expectations of a decline post-merger [16] Q&A Session Summary Question: Margin outlook with potential rate cuts - Management anticipates a margin expansion of about five basis points in Q4, considering potential rate cuts [22] Question: Capital priorities post-Farmers acquisition - The focus will be on organic growth and increasing tangible book value, with a disciplined approach to M&A [23][24] Question: Confidence in achieving loan growth targets - Management expressed confidence due to a strong pipeline and historical loan-generating capabilities [30] Question: Fee income expectations - Anticipated fee income for Q4 is around $9.2 million, including contributions from Farmers Savings Bank [35] Question: Loan yield decline explanation - The decline was attributed to a mix shift and pricing competition, with expectations for yield improvement in the coming quarters [38][39] Question: Timing of Farmers acquisition closure - The acquisition is expected to close shortly after the Farmers shareholders meeting on November 4 [46] Question: Loan competition and pricing - Competition remains aggressive, with rates falling below 6.5% for better deals [50]

Financial Data and Key Metrics Changes - The company reported net income of $12.8 million or $0.68 per diluted share, a 53% increase from Q3 2024 and a 16% increase from the linked quarter [5] - Pre-provision net revenue increased by $4.9 million or 45% compared to Q3 2024 and by $1.9 million or 14% from the linked quarter [5] - Net interest income totaled $34.5 million, consistent with the linked quarter, while net interest margin declined by six basis points to 3.58% [5][6] - Non-interest income increased by $3 million or 46.2% over the linked quarter, totaling $9.6 million, consistent with Q3 2024 [8][10] Business Line Data and Key Metrics Changes - Non-interest income for the quarter was $9.6 million, with a $494,000 decline in leasing fees offset by increases in other categories [10] - The company experienced a decline in total loans and leases by $55.1 million, primarily due to over $120 million in payoffs [12] - Significant declines were noted in commercial and agricultural loans by $36 million and non-owner occupied commercial real estate by $48 million [13] Market Data and Key Metrics Changes - Total deposits grew by $33.4 million, with a reduction in brokered deposits by $23 million [16] - The loan-to-deposit ratio was 95.8%, down from the linked quarter, with expectations to reduce this further post-acquisition of Farmers Savings Bank [18] Company Strategy and Development Direction - The company plans to use new capital to reduce overnight borrowings and strengthen tangible common equity, while focusing on organic growth and technology investments [6][7] - The merger with Farmers Savings Bank is expected to close shortly after November 4, enhancing the company's deposit base and operational capabilities [7][20] - The company aims to streamline deposit accounts and enhance digital services to attract new customers and deepen existing relationships [17][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the economic environment across their footprint, noting strong credit quality and stable credit metrics [21][22] - The company anticipates organic loan growth returning to mid-single digits in Q4 and increasing into mid to high single digits in 2026 [15][40] - The effective tax rate for the quarter was 18.5%, with expectations to remain in the 16% to 16.5% range for the remainder of the year [34] Other Important Information - The company announced a quarterly dividend of $0.17 per share, consistent with the prior quarter, representing a 3.3% yield [8] - The tangible common equity ratio increased from 6.7% to 9.21% due to strong earnings and a successful capital raise [20] Q&A Session Summary Question: Margin outlook with potential rate cuts - Management anticipates margin expansion by five basis points in Q4 if rate cuts occur as expected [27] Question: Capital priorities post-Farmers acquisition - The focus will be on organic growth and increasing tangible book value, with M&A opportunities evaluated on a disciplined basis [28][30] Question: Confidence in achieving loan growth targets - Management noted a strong pipeline and historical loan generation capabilities, despite recent payoffs [39][40] Question: Fee income outlook - Anticipated fee income for Q4 is around $9.2 million, including contributions from Farmers [45] Question: Loan yield decline explanation - The decline was attributed to a mix shift and pricing competition, with expectations for yield improvement as loans reprice [48][49] Question: Timing of Farmers acquisition closure - The acquisition is expected to close shortly after the shareholder meeting on November 4 [54][55]

Core Insights - Civista Bancshares (CIVB) reported quarterly earnings of $0.68 per share, exceeding the Zacks Consensus Estimate of $0.61 per share, and up from $0.53 per share a year ago, representing an earnings surprise of +11.48% [1] - The company posted revenues of $44.18 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 1.78%, and an increase from $38.92 million year-over-year [2] - Civista Bancshares has outperformed consensus EPS estimates three times in the last four quarters and has also topped consensus revenue estimates three times during the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.66 on revenues of $43.62 million, while for the current fiscal year, the estimate is $2.66 on revenues of $169.12 million [7] - The estimate revisions trend for Civista Bancshares was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Banks - Midwest industry, to which Civista Bancshares belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]