Annual Meeting of Shareholders Set for April 30, 2026BROOKFIELD, Wis., Feb. 13, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the parent company of CIBM Bank, has approved an expansion of the Board from nine to ten members. The newly created seat has been filled with the appointment of Mr. Dennis Pollack, effective February 16, 2026. Mr. Pollack will also join the Board of Directors of the Company’s wholly owned subsidiary, CIBM ...

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].

Core Viewpoint - CIB Marine Bancshares, Inc. reported a decline in net income for 2025, primarily due to increased provisions for credit losses, despite improvements in net interest margin and a modest profit from the Mortgage Division [1][2][4]. Financial Performance - Net income allocated to common shareholders for 2025 was $1.6 million, or $1.19 basic and $1.15 diluted earnings per share, down from $2.5 million, or $1.87 basic and $1.46 diluted earnings per share in 2024 [2]. - 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]. - Provisions for credit losses were $1.2 million in Q4 2025 and $1.1 million for the full year, compared to reversals in the same periods of 2024 [4]. 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, primarily due to two commercial loan relationships moving to non-accrual status [4]. - The allowance for credit losses on loans was 1.27% as of December 31, 2025, compared to 1.26% a year earlier, remaining at or above local and national peer medians [4]. Business Strategy and Growth - The Banking Division reported an increase in income of $0.9 million in 2025, excluding provisions and the prior year's sale-leaseback gain, driven by higher net interest income [4]. - The company emphasized continued growth in commercial lending, with loan balances increasing by $11 million in Q4 2025 after a decline earlier in the year [4]. Stock Repurchase Program - The expanded common stock repurchase program authorizes up to $2.5 million in buybacks through December 31, 2026, with $1.2 million remaining for additional repurchases in 2026 [3].

Core Viewpoint - CIB Marine Bancshares, Inc. reported improved financial results for the second quarter and first half of 2025, with net income increasing and net interest margins showing positive trends despite challenges in loan balances and the mortgage market [1][2][3]. Financial Performance - Net income for Q2 2025 was $0.7 million, or $0.50 basic and $0.48 diluted earnings per share, compared to $0.5 million, or $0.34 basic and $0.25 diluted earnings per share in Q2 2024 [2]. - For the six months ended June 30, 2025, net income was $1.0 million, or $0.74 basic and $0.71 diluted earnings per share, up from $0.6 million, or $0.80 basic and $0.35 diluted earnings per share in the same period of 2024 [2]. Net Interest Income and Margins - Net interest margin increased to 2.69% in Q2 2025 from 2.62% in Q1 2025 and 2.38% in Q2 2024 [4]. - The cost of funds declined by 51 basis points year-over-year, contributing to the improved net interest margin [4]. - Net interest income rose by $0.3 million for Q2 2025 compared to Q2 2024, and by $0.6 million for the first half of 2025 compared to the same period in 2024 [4]. Loan and Asset Quality - Loan balances decreased by $19 million from March 31, 2025, and $32 million from December 31, 2024 [4]. - The allowance for credit losses to loans increased to 1.32% as of June 30, 2025, from 1.29% at March 31, 2025 [4]. - Non-performing loans to total assets increased to 1.85% at June 30, 2025, compared to 0.97% at March 31, 2025 [4]. Business Segments Performance - The Banking Division reported net income of $1.6 million for the first half of 2025, a $0.4 million improvement over the same period in 2024, driven by higher net interest margins [4]. - The Mortgage Division experienced a net loss of $0.1 million for the first half of 2025, an improvement from the prior year, despite challenges in the residential mortgage market [4]. Stock Repurchase Program - The company launched a common stock repurchase program in February 2025, authorizing up to $1 million in buybacks [3]. - In Q2 2025, the company repurchased 8,083 shares for a total of $262,000 at an average price of $32.37 per share [3][5].