Civista Bancshares(US:CIVB) Prnewswireยท2025-07-24 11:20Core Points - Civista Bancshares, Inc. reported a net income of $11.0 million, or $0.71 per common share, for the quarter ended June 30, 2025, reflecting a 56% increase compared to the same quarter last year [1][8][9] - The company announced a partnership with The Farmers Savings Bank to expand its presence in Northeast Ohio and successfully raised $80.5 million in capital [2][20] - The efficiency ratio improved to 64.5% from 72.6% a year ago, indicating better operational efficiency [8][14] Financial Performance - Total assets increased to $4.2 billion, up $39.2 million or 0.9% from the previous quarter [5] - Total deposits decreased to $3.2 billion, down $42.7 million or 1.32% from the previous quarter [6] - Net interest income rose by $7.1 million or 25.5% year-over-year, totaling $34.8 million for the quarter [7][9] - Noninterest income decreased to $6.6 million, a decline of $3.8 million or 36.5% compared to the same period last year [12][29] Credit Quality - Provision for credit losses decreased to $1.0 million from $1.7 million a year ago, indicating improved credit quality [11] - Non-performing assets decreased by $8.0 million or 25.7% from the previous quarter, with a non-performing assets to assets ratio of 0.55% [11] Capital and Equity - Total shareholders' equity increased to $404.1 million, up $6.7 million from the previous quarter [18] - The company did not repurchase any shares in the second quarter of 2025, with the current repurchase plan set to expire in April 2026 [19] Recent Developments - Civista announced a definitive merger agreement to acquire The Farmers Savings Bank on July 10, 2025 [20] - The company also conducted an underwritten public offering of its common stock, raising approximately $80.5 million [20]