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]

Financial Performance - Net income for the year ended December 31, 2024 was $31,683, compared to $42,964 for the year ended December 31, 2023[248]. - Net interest income for 2024 was $116,710, a decrease of $8,786, or 7.0%, from 2023[249]. - Noninterest income increased by $585, or 1.6%, to $37,748 for the year ended December 31, 2024, driven by gains in loan sales and lease revenue[258]. - Noninterest expense increased by $4,909, or 4.6%, to $112,520 for the year ended December 31, 2024, primarily due to higher compensation and professional services expenses[260]. - Income tax expense decreased to $4,891 in 2024 from $7,649 in 2023, with an effective tax rate of 13.4% compared to 15.1% in 2023[261]. Asset and Loan Growth - As of December 31, 2024, the company's total assets increased to $4,098,469, up from $3,861,418 in 2023, representing a growth of approximately 6.1%[216]. - Net loans totaled $3,041,561 as of December 31, 2024, reflecting a 7.7% increase from $2,824,568 in 2023[218]. - The total average loans outstanding for 2024 were $2,984,912, up from $2,286,928 in 2023, reflecting a robust lending environment[223]. - Commercial Real Estate - Non-Owner Occupied loans increased by $64,097, contributing significantly to the overall growth in net loans[218]. - The average balance of loans increased by $262,115, or 9.6%, to $2,984,912 for the year ended December 31, 2024[250]. Credit Quality and Provisions - The allowance for credit losses at year-end 2024 was $39,669, compared to $28,511 in 2023, indicating a significant increase in provisions for potential credit losses[223]. - The ratio of allowance for credit losses to total loans outstanding was 1.29% in 2024, slightly down from 1.30% in 2023[227]. - Nonaccrual loans represented 1.00% of total loans outstanding in 2024, up from 0.25% in 2023, indicating a deterioration in loan quality[223]. - The company reported net charge-offs of $3,376 in 2024, compared to a recovery of $118 in 2023, highlighting a shift towards increased credit losses[223]. - Provisions for credit losses totaled $5,364 in 2024, an increase of $929 from $4,435 in 2023, primarily to support organic loan growth[255]. Deposits and Interest Rates - Year-end deposit balances totaled $3,211,870 in 2024 compared to $2,985,028 in 2023, an increase of $226,842, or 7.6%[237]. - Average deposit balances for 2024 were $3,086,961 compared to $2,852,037 for 2023, an increase of 8.2%[237]. - The average rate paid on demand and savings accounts increased from 0.57% in 2023 to 1.53% in 2024[252]. - Total interest expense rose by $32,747, or 57.2%, to $89,985 for the year ended December 31, 2024, attributed to higher average rates and balances of interest-bearing liabilities[252]. Shareholder Equity and Dividends - Total shareholders' equity increased $16,500, or 4.4%, during 2024 to $388,502[244]. - Shareholders' equity rose to $388,502 at December 31, 2024, compared to $372,002 at the end of 2023, driven by net income of $31,683[278]. - The Company paid $0.64 per common share in dividends in 2024 compared to $0.61 per common share in dividends in 2023[244]. - The company paid dividends totaling $20,300 to CBI in 2024, representing approximately 57% of Civista's earnings for the year[276]. Regulatory and Operational Risks - The company is subject to operational risks including cybersecurity threats, which could lead to financial loss and reputational damage[136]. - The company has implemented security controls to prevent unauthorized access to its systems, but risks remain due to potential breaches[145]. - Noncompliance with the Bank Secrecy Act and anti-money laundering regulations could result in significant financial penalties and reputational harm[150]. - The company relies heavily on third-party vendors for operational services, which exposes it to additional risks if those vendors experience disruptions[153]. - The company is subject to extensive regulatory scrutiny, and changes in regulations could adversely affect its operations and financial condition[176]. Market and Economic Conditions - The company faces strong competition in attracting deposits and originating loans, particularly from large regional financial institutions and nontraditional sources, which may impact its net interest margin[157]. - Changes in tax laws could adversely affect the company's performance and the demand for its loans and deposit products[196]. - The company must continuously update its technology to remain competitive and meet customer demands in a rapidly changing financial services market[197]. - External events such as climate change, natural disasters, and acts of war or terrorism could significantly impact the company's business operations[199].

Company Overview - Civista Bancshares (CIVB) is headquartered in Sandusky and operates in the Finance sector, with a stock price change of -0.05% since the start of the year [3] - The company currently pays a dividend of $0.17 per share, resulting in a dividend yield of 3.23%, which is higher than the Banks - Midwest industry's yield of 2.96% and the S&P 500's yield of 1.52% [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 pays out 32% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year, Civista Bancshares anticipates solid earnings growth, with the Zacks Consensus Estimate for 2025 at $2.28 per share, representing a 13.43% increase from the previous year [5] Investment Appeal - Civista Bancshares is considered a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 1 (Strong Buy) [7]

Company Overview - Civista Bancshares (CIVB) is a bank holding company headquartered in Sandusky, with a year-to-date price change of 0.19% [3] - The company currently pays a dividend of $0.16 per share, resulting in a dividend yield of 3.23%, which is higher than the Banks - Midwest industry's yield of 2.77% and the S&P 500's yield of 1.51% [3] Dividend Performance - Civista Bancshares has an annualized dividend of $0.68, reflecting a 6.3% increase from the previous year [4] - Over the past five years, the company has increased its dividend two 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' earnings in 2025 is $2.21 per share, with an expected increase of 9.95% from the previous year [5] Investment Appeal - Civista Bancshares is considered a compelling investment opportunity due to its attractive dividend yield and strong earnings growth potential [7] - The stock holds a strong Zacks Rank of 1 (Strong Buy), indicating positive market sentiment [7]

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