Civista Bancshares(US:CIVB) Prnewswire·2025-04-24 11:50Core Viewpoint Civista Bancshares, Inc. reported strong financial performance for the first quarter of 2025, with significant increases in net income and earnings per share, driven by effective deposit initiatives and improved loan yields. Financial Performance - Net income for Q1 2025 was $10.2 million, or $0.66 per share, up from $6.4 million, or $0.41 per share, in Q1 2024, reflecting a 59% increase [1][10] - Earnings per share increased by $0.25 compared to the same quarter last year [9][10] - Net interest income rose by $4.4 million, or 15.5%, year-over-year, totaling $32.8 million [8][10] - The net interest margin improved to 3.51%, up from 3.22% in Q1 2024 [9][10] Asset and Deposit Growth - Total assets increased to $4.1 billion, a rise of $48.2 million, or 1.2%, from the previous quarter [6] - Total deposits reached $3.2 billion, an increase of $27 million, or 0.8%, from the previous quarter [7][26] - The company successfully reduced reliance on wholesale funding through deposit growth [3] Loan and Credit Quality - Total loans increased by $22.8 million, or 0.7%, since December 31, 2024 [10][26] - The allowance for credit losses to loans ratio was 1.30% as of March 31, 2025, compared to 1.34% a year earlier [20][29] - Non-performing assets decreased by $1.4 million, or 4.4%, from the previous quarter, totaling $31.2 million [20][29] Noninterest Income and Expenses - Noninterest income totaled $7.9 million, a decrease of $0.4 million, or 4.8%, compared to the same period last year [12][28] - Noninterest expenses were $27.1 million, down $0.3 million, or 1.1%, from the previous year [13][28] Capital and Shareholder Returns - Total shareholders' equity increased to $397.4 million, up $8.9 million from December 31, 2024 [15][29] - The company declared a quarterly dividend of $0.17 per share, reflecting a dividend payout ratio of 25.90% [10][28]