Financial Data and Key Metrics Changes - The company reported net income of $10.2 million, or $0.66 per diluted share, representing a $3.8 million or 60% increase compared to the previous February and a $275,000 increase over the linked quarter [5] - Pre-provision net revenue increased by $4.3 million or 47% over Q1 2024 and $1.4 million or 11.9% over the linked quarter [5] - Net interest income for the quarter was $32.8 million, an increase of $1.4 million or 4.5% compared to the linked quarter [6] - The return on assets (ROA) for the quarter was 1%, and the return on equity (ROE) was 10.39% [11] Business Line Data and Key Metrics Changes - The loan and lease portfolio grew at an annualized rate of 2.8% during the first quarter, with total loans and leases increasing by $22.8 million [18] - Noninterest income declined by $1.2 million or 12.8% compared to the linked quarter, primarily due to a decrease in gains on the sale of loans and other fees [16] - Noninterest expense was $27.1 million, a decline of $1.2 million or 4.1% from the linked quarter, attributed to reductions in compensation-related expenses [14] Market Data and Key Metrics Changes - Total deposits increased by $27 million or an annualized growth rate of 3.2%, with organic deposit funding (excluding broker deposits) growing by over $67 million [21][22] - The loan-to-deposit ratio at quarter-end was 95.8% [24] - The company’s security portfolio was $648.5 million, representing 15.6% of the balance sheet, with $60 million of unrealized losses [25] Company Strategy and Development Direction - The company announced the renewal of its stock repurchase program, authorizing the repurchase of up to $13.5 million of outstanding shares [12] - The focus remains on increasing tangible common equity and maintaining a disciplined approach to pricing deposits and loans [5][11] - The company aims to balance dividend payments and stock repurchases with capital growth to support future growth [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s ability to manage loan and deposit pricing amid economic uncertainties, anticipating low to mid-single-digit loan growth for the remainder of 2025 [31] - The economic environment in Ohio and Southeastern Indiana shows no signs of deterioration, with strong credit quality maintained [30] - Management noted a cautious sentiment among borrowers regarding capital expenditures due to macroeconomic uncertainties [78] Other Important Information - The company made a $1.6 million provision for credit losses, with charge-offs of $976,000 [29] - The allowance for credit losses to total loans ratio was 1.30% at March 31, 2025, consistent with the previous quarter [30] Q&A Session Summary Question: Margin inputs and funding costs - Management indicated there is still opportunity for margin expansion, expecting a four to five basis points increase in the second quarter [38][39] Question: Expense normalization and future investments - Management expects expenses to remain flat in the second half of the year, with some increases due to merit raises and investments in technology [48][49] Question: Fee income outlook - Management anticipates a bounce back in fee income in the second quarter, particularly in mortgage and leasing [60] Question: Loan yield increase - The increase in loan yield was attributed to new loans repricing higher, with no unusual recoveries contributing to the increase [68] Question: Commercial borrowers' sentiment - Management noted a cautious "wait and see" attitude among borrowers regarding capital expenditures due to economic uncertainties [78] Question: Current pipeline and growth guidance - Management indicated that the current loan pipeline remains strong, with ongoing economic activity supporting growth [85][90]

Financial Data and Key Metrics Changes - The company reported net income of $10.2 million or $0.66 per diluted share, a 60% increase from Q1 2024 and a $275,000 increase from the previous quarter [4] - Pre-provision net revenue increased by $4.3 million or 47% compared to Q1 2024, and by $1.4 million or 11.9% from the linked quarter [4] - Net interest income for the quarter was $32.8 million, representing a $1.4 million or 4.5% increase from the linked quarter [5] - The efficiency ratio improved to 64.9% from 68.3% in the linked quarter and 73.8% in the prior year's first quarter [11] Business Line Data and Key Metrics Changes - The loan and lease portfolio grew at an annualized rate of 2.8% during the first quarter, with total loans and leases increasing by $22.8 million [11] - Non-interest income declined by $1.2 million or 12.8% compared to the linked quarter, primarily due to a decrease in gains on the sale of loans and other fees [10] - The company experienced a decline in non-interest expenses by $1.2 million or 4.1% from the linked quarter, attributed to reductions in compensation-related expenses [8][9] Market Data and Key Metrics Changes - Total deposits increased by $27 million or an annualized growth rate of 3.2%, with organic deposit growth of $67.1 million excluding brokered deposits [14] - The loan-to-deposit ratio was 95.8% at quarter-end, indicating a disciplined approach to managing loan growth [15] - The company noted a migration from non-interest bearing accounts to higher rate deposit accounts during the quarter [14] Company Strategy and Development Direction - The company aims to continue focusing on core deposit funding and reducing reliance on brokered funding, which is seen as a valuable characteristic contributing to profitability [16] - Management plans to maintain loan and lease rates higher to manage the loan-to-deposit ratio within a range of 90% to 95% [7] - The company is committed to increasing tangible common equity while balancing dividend payments and stock repurchases [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the economy across Ohio and Southeastern Indiana, with no signs of deterioration in credit quality [19] - The company anticipates low to mid-single digit loan growth for the remainder of 2025, tempered by economic uncertainties [20] - Management highlighted the importance of attracting low-cost deposits to support loan growth and overall profitability [68] Other Important Information - The company announced a quarterly dividend of $0.17 per share, representing an annualized yield of 3.48% [8] - A stock repurchase program was renewed, authorizing the repurchase of up to $13.5 million in outstanding shares [8] Q&A Session Summary Question: Margin inputs and funding opportunities - Management indicated there is still opportunity for margin expansion, expecting 4 to 5 basis points in the second quarter [26][27] Question: Expectations for fee income - Management expects a bounce back in fee income in the second quarter, particularly in mortgage and leasing [39] Question: Loan yield increase - The increase in loan yield was attributed to new loans repricing higher, with no unusual recoveries contributing [50] Question: Impact of economic conditions on borrowers - Management noted a cautious sentiment among borrowers due to economic uncertainties, potentially slowing CapEx spending [55] Question: Credit metrics outlook - Management remains optimistic about credit quality, with delinquencies down and a healthy allowance for credit losses [82]

Financial Data and Key Metrics Changes - The company reported net income of $10.2 million or $0.66 per diluted share, a 60% increase from Q1 2024 and a $275,000 increase from the previous quarter [4] - Net interest income for the quarter was $32.8 million, representing a 4.5% increase compared to the previous quarter [5] - The efficiency ratio improved to 64.9% from 68.3% in the linked quarter and 73.8% in the prior year's first quarter [11] Business Line Data and Key Metrics Changes - The loan and lease portfolio grew at an annualized rate of 2.8% during the first quarter, with total loans and leases increasing by $22.8 million [11] - Non-interest income declined by $1.2 million or 12.8% compared to the linked quarter, primarily due to a decrease in gains on the sale of loans and other fees [10] - The company anticipates loan growth to be in the mid-single digit range for the remainder of 2025 [14] Market Data and Key Metrics Changes - Total deposits increased by $27 million or an annualized growth rate of 3.2%, with organic deposit growth of $67.1 million excluding brokered deposits [14][15] - The loan-to-deposit ratio was 95.8% at quarter-end, indicating a disciplined approach to managing loan growth [15] - The average deposit account, excluding CDs, was approximately $28,000, reflecting a granular deposit base [15] Company Strategy and Development Direction - The company continues to focus on deepening customer relationships to reduce reliance on brokered funding, which is seen as a valuable characteristic of the deposit franchise [16] - Management is committed to increasing tangible common equity while balancing dividend payments and potential stock repurchases [17][18] - The company plans to invest in technology and digital initiatives to enhance customer engagement and operational efficiency [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the core deposit franchise and the ability to control non-interest expenses, positioning the company well for future success [19][90] - The economic environment in Ohio and Southeastern Indiana remains stable, with no signs of deterioration in credit quality [19] - Management anticipates continued loan demand but acknowledges potential impacts from economic uncertainties on loan growth [14][19] Other Important Information - The company announced a quarterly dividend of $0.17 per share, representing an annualized yield of 3.48% [8] - A stock repurchase program was renewed, authorizing the repurchase of up to $13.5 million in outstanding shares [8] Q&A Session Summary Question: Margin inputs and funding costs - Management indicated there is still opportunity for margin expansion, expecting 4-5 basis points in the second quarter and 2-3 basis points in the third quarter [26][30] Question: Expense normalization and future investments - Management expects expenses to remain flat in the second quarter, with potential increases in the second half due to investments in technology and marketing [33][37] Question: Fee income outlook - Management anticipates a bounce back in fee income in the second quarter, particularly in mortgage and leasing [40][42] Question: Loan yield increase - The increase in loan yield was attributed to new loans repricing higher, with no unusual recoveries contributing to the increase [51] Question: Commercial borrowers' sentiment - Management noted a cautious sentiment among commercial borrowers regarding CapEx spending due to economic uncertainties [56][58] Question: Credit metrics and expectations - Management remains optimistic about credit quality, with delinquencies down and a healthy allowance for credit losses [83][84]

Core Insights - Civista Bancshares (CIVB) reported revenue of $40.63 million for Q1 2025, a year-over-year increase of 10.2% and exceeding the Zacks Consensus Estimate of $40.09 million by 1.37% [1] - The company achieved an EPS of $0.66, up from $0.41 a year ago, representing a surprise of 32% compared to the consensus estimate of $0.50 [1] Financial Performance Metrics - Net interest margin (tax equivalent) was reported at 3.5%, surpassing the average estimate of 3.4% from two analysts [4] - The efficiency ratio (non-GAAP) stood at 64.9%, significantly better than the average estimate of 72.1% [4] - Net interest income reached $32.77 million, exceeding the average estimate of $31.52 million [4] - Net gain on sale of loans was $0.60 million, below the average estimate of $1.15 million [4] - Total noninterest income was reported at $7.86 million, slightly below the average estimate of $8.01 million [4] Stock Performance - Shares of Civista Bancshares have returned +5.4% over the past month, contrasting with the Zacks S&P 500 composite's -5.1% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Civista Bancshares reported quarterly earnings of $0.66 per share, exceeding the Zacks Consensus Estimate of $0.50 per share, and showing an increase from $0.41 per share a year ago, representing a 32% earnings surprise [1][2] Financial Performance - The company posted revenues of $40.63 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.37%, and up from $36.88 million year-over-year [2] - Over the last four quarters, Civista Bancshares has consistently surpassed consensus EPS estimates [2] Stock Performance - Civista Bancshares shares have declined approximately 1.2% since the beginning of the year, while the S&P 500 has decreased by 8.6% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.56 on revenues of $41.56 million, and for the current fiscal year, it is $2.35 on revenues of $167.9 million [7] - The estimate revisions trend for Civista Bancshares is favorable, which may influence future stock movements [6][5] Industry Context - The Banks - Midwest industry, to which Civista Bancshares belongs, is currently ranked in the top 10% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]

Financial Performance - Net income for Q1 2025 was $10.2 million, an increase of 59% or $3.8 million from $6.4 million in Q1 2024[5] - Earnings per share rose to $0.66, up $0.25 from $0.41 in Q1 2024[5] - Return on Assets was 1.00%, compared to 0.66% in Q1 2024[8] - Return on Equity improved to 10.39%, up from 6.89% in Q1 2024[8] - Net income available to common shareholders reached $10,168 thousand, compared to $6,360 thousand in the previous year, reflecting a significant increase of 59.5%[35] - Basic earnings per common share improved to $0.66, up from $0.41, indicating a growth of 60.98%[35] - Net income for Q1 2025 reached $10,168,000, up from $9,893,000 in Q4 2024, indicating a 2.8% increase[47] Asset and Deposit Growth - Total assets increased to $4.1 billion, a rise of $48.2 million or 1.2% from December 31, 2024[7] - Total deposits reached $3.2 billion, an increase of $27.0 million or 0.8% from December 31, 2024[9] - Total assets grew to $4,146,717 thousand, up from $4,098,469 thousand, a rise of 1.18%[36] - Total deposits increased to $3,238,888 thousand from $3,211,870 thousand, reflecting a growth of 0.84%[36] - Total loans at the end of Q1 2025 reached $3,104,036 thousand, a 0.7% increase from $3,081,230 thousand at the end of Q4 2024[31] - Total deposits decreased to $3,209,277,000 in Q1 2025 from $3,285,485,000 in Q4 2024, a decline of 2.3%[41] Interest and Noninterest Income - Net interest income for Q1 2025 was $32,773 thousand, compared to $28,372 thousand in Q1 2024, reflecting an increase of 15.6%[26] - Interest income increased to $53,733 thousand in Q1 2025 from $50,128 thousand in Q1 2024, representing a growth of 5.2%[35] - Noninterest income decreased to $7,860 thousand in Q1 2025, down 4.8% from $8,256 thousand in Q1 2024[29] - Noninterest income for Q1 2025 was $7,860,000, a decrease from $9,015,000 in Q4 2024, reflecting a decline of 12.8%[49] Expense Management - Noninterest expense decreased to $27.1 million, down $0.3 million or 1.1% from the same period last year[14] - Total noninterest expense slightly decreased to $27,126 thousand in Q1 2025, a reduction of 1.1% from $27,441 thousand in Q1 2024[30] - Total noninterest expense for the three months ended March 31, 2025, was $27,126,000, a decrease from $28,296,000 in the previous quarter[51] Credit Quality - The allowance for credit losses to loans ratio was 1.30% at March 31, 2025, compared to 1.34% at March 31, 2024[11] - The allowance for credit losses increased to $40,284 thousand at the end of Q1 2025, up from $38,849 thousand at the end of Q1 2024[33] - Non-performing assets totaled $31,198 thousand at the end of Q1 2025, a decrease from $32,627 thousand at the end of Q4 2024[33] - The provision for credit losses was $1,248 thousand in Q1 2025, down from $2,042 thousand in Q1 2024[33] - Non-performing assets to total assets decreased to 0.75% from 0.80%, indicating improved asset quality[39] Efficiency and Ratios - The efficiency ratio was 64.9%, significantly improved from 72.3% in Q1 2024[15] - The efficiency ratio (non-GAAP) improved to 64.9% from 68.3% in the previous quarter[57] - The Tier 1 risk-based capital ratio improved to 10.97% from 10.47% in the previous quarter[53] - Tangible common equity increased to $264,408,000 from $255,099,000 in the previous quarter[56] - The allowance to total loans ratio was 1.30%, slightly up from 1.29% in the previous quarter[39] Other Financial Metrics - Total interest-earning assets increased to $3,801,709 thousand in Q1 2025, up from $3,552,552 thousand in Q1 2024, representing a growth of 7.0%[26] - The net interest margin improved to 3.51% in Q1 2025, compared to 3.22% in Q1 2024[26] - The net interest margin (tax equivalent) increased to 3.51% in Q1 2025, compared to 3.36% in Q4 2024[48] - Book value per share slightly decreased to $20.12 from $20.15, showing a marginal decline[36] - Tangible book value per share increased to $17.04 from $16.47 in the previous quarter[56] - The dividend payout ratio for Q1 2025 was 25.90%, up from 25.45% in Q4 2024[48]

SANDUSKY, Ohio, April 24, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") today reported net income of $10.2 million, or $0.66 per common share, for the quarter ended March 31, 2025. Net income reflects a 59%, or $3.8 million increase of net income compared to net income of $6.4 million for the first-quarter of 2024. Earnings per share reflects an increase of $0.25 per common share, compared to $0.41 per common share for the first-quarter of 2024. Net interest margin (tax equivalent ...

Group 1 - Civista Bancshares, Inc. announced a quarterly dividend of 17 cents per common share, maintaining the same amount as the previous quarter [1] - The dividend payout totals approximately $2.7 million, resulting in an annualized yield of 3.38% based on the closing stock price of $19.54 on March 31, 2025 [2] - Civista Bancshares is a financial holding company with assets of $4.1 billion, headquartered in Sandusky, Ohio, and operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky [3]

SANDUSKY, Ohio, April 2, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ: CIVB) ("Civista") announced today that it will issue its first quarter 2025 financial results prior to market open on Thursday, April 24, 2025. Civista Bancshares, Inc. will also host a conference call and webcast at 1:00 p.m. Eastern Time on Thursday, April 24, 2025, to discuss its financial results. Analysts may participate in the question-and-answer session. Conference Call, Replay and Webcast Information: Date: Thursday, Apr ...

Company Overview - Civista Bancshares (CIVB) is headquartered in Sandusky and operates in the Finance sector, with a stock price change of -7.79% since the beginning of the year [3] - The company currently pays a dividend of $0.17 per share, resulting in a dividend yield of 3.51%, which is higher than the Banks - Midwest industry's yield of 3.24% and the S&P 500's yield of 1.57% [3] Dividend Performance - Civista Bancshares has an annualized dividend of $0.68, reflecting a 6.3% increase from the previous year [4] - Over the last 5 years, the company has increased its dividend 2 times year-over-year, with an average annual increase of 9.51% [4] - The current payout ratio is 32%, indicating that the company paid out 32% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for Civista Bancshares for the fiscal year 2025 is $2.35 per share, representing a year-over-year growth rate of 16.92% [5] Investment Appeal - Civista Bancshares is considered an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 1 (Strong Buy) [7]