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]

Group 1 - Civista Bancshares, Inc. will release its first quarter 2025 financial results on April 24, 2025, before market open [1] - A conference call and webcast will be held on the same day at 1:00 p.m. Eastern Time to discuss the financial results, with analysts invited to participate in the Q&A session [1][2] - Civista Bancshares, Inc. is a $4.1 billion financial holding company based in Sandusky, Ohio, with its primary subsidiary, Civista Bank, providing full-service banking and other financial services [3] Group 2 - Civista Bank operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky, and offers commercial equipment leasing services nationwide [3] - The company's common shares are traded on the NASDAQ Capital Market under the symbol "CIVB" [3]

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]

Group 1 - The core focus of Quad 7 Capital is to provide investment opportunities through a team of 7 analysts with nearly 12 years of experience in the market [1] - The company is recognized for its significant market call in February 2020 to sell everything and go short, maintaining an average position of 95% long and 5% short since May 2020 [1] - Quad 7 Capital emphasizes teaching investors to become proficient traders, offering in-depth research with clear entry and exit targets [1] Group 2 - BAD BEAT Investing offers benefits such as understanding market dynamics, executing well-researched trade ideas weekly, and access to multiple chat rooms for discussions [2] - Members receive daily summaries of key analyst upgrades and downgrades, along with learning opportunities in basic options trading and access to extensive trading tools [2]

Core Insights - Civista Bancshares reported revenue of $40.37 million for the quarter ended December 2024, reflecting a year-over-year increase of 3.8% and a surprise of +2.00% over the Zacks Consensus Estimate of $39.58 million [1] - The earnings per share (EPS) for the quarter was $0.63, up from $0.62 in the same quarter last year, with an EPS surprise of +18.87% compared to the consensus estimate of $0.53 [1] Financial Metrics - The net interest margin (tax equivalent) was reported at 3.4%, exceeding the average estimate of 3.2% based on two analysts [4] - The efficiency ratio (non-GAAP) stood at 68.3%, better than the average estimate of 71.7% from two analysts [4] - Net interest income reached $31.36 million, surpassing the average estimate of $30.21 million from two analysts [4] - The net gain on the sale of loans was $1.26 million, slightly below the average estimate of $1.50 million [4] - Total noninterest income was reported at $9.02 million, also below the average estimate of $9.38 million from two analysts [4] Stock Performance - Civista Bancshares shares have returned +2.2% over the past month, outperforming the Zacks S&P 500 composite's +1.2% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Civista Bancshares (CIVB) reported quarterly earnings of $0.63 per share, exceeding the Zacks Consensus Estimate of $0.53 per share, and showing a slight increase from $0.62 per share a year ago, indicating a positive earnings surprise of 18.87% [1][2] Financial Performance - The company achieved revenues of $40.37 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2%, and reflecting a year-over-year increase from $38.88 million [2] - Over the last four quarters, Civista Bancshares has exceeded consensus EPS estimates three times and has also topped consensus revenue estimates three times [2] Stock Performance and Outlook - Civista Bancshares shares have increased approximately 2.2% since the beginning of the year, compared to a 2.7% gain in the S&P 500 [3] - The company's earnings outlook is favorable, with current consensus EPS estimates of $0.45 for the coming quarter and $2.08 for the current fiscal year, alongside revenues of $38.46 million and $160.71 million respectively [7] Industry Context - The Banks - Midwest industry, to which Civista Bancshares belongs, is currently ranked in the top 6% of over 250 Zacks industries, suggesting a strong performance potential [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Civista's stock performance [5][6]