CIB Marine Bancshares, Inc. Announces 2025 Results

Core Insights - CIB Marine Bancshares, Inc. reported a decline in net income for 2025, with net income allocated to common shareholders at $1.6 million, down from $2.5 million in 2024, primarily due to increased provisions for credit losses in the fourth quarter [2][4]. Financial Performance - The net interest margin improved to 2.72% for the full year 2025, up from 2.42% in 2024, driven by a reduction in the cost of funds [4][12]. - Provisions for credit losses were $1.2 million in the fourth quarter of 2025, compared to reversals of $0.3 million in the same quarter of 2024 [4][10]. - The company experienced net charge-offs of 0.20% for the year, compared to 0.01% in the prior year [4][12]. Loan and Asset Quality - Non-performing assets represented 1.04% of total assets as of December 31, 2025, an increase from 0.68% a year earlier [4][12]. - The allowance for credit losses on loans was 1.27% as of December 31, 2025, compared to 1.26% a year earlier [4][12]. - Outstanding loan balances in the NAICS Transportation and Warehousing category declined from $15.9 million to $13.7 million since year-end 2024 [3][4]. Operational Highlights - The Banking Division reported an income increase of $0.9 million in 2025, excluding provisions and the prior year's sale-leaseback gain, driven by higher net interest income [4][12]. - The Mortgage Division achieved a modest profit in 2025, recovering from a loss of $0.2 million in 2024 [4][12]. Shareholder Actions - The company authorized a stock repurchase program of up to $2.5 million through December 31, 2026, repurchasing 36,383 shares for $1.3 million in 2025 [5][12].