SANDUSKY, Ohio, Aug. 13, 2025 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ: CIVB) is pleased to announce the promotion of Robert L. Katitus to Senior Vice President and Chief Lending Officer. In this role, Mr. Katitus will serve as a member of Civista's Executive Leadership Team and will report directly to Charles A. Parcher, President of Civista Bank.  Mr. Katitus succeeds Mr. Parcher as Chief Lending Officer following Parcher's appointment as President of Civista Bank earlier this year. In addition to ...

Core Insights - Heritage Commerce reported adjusted earnings per share of $0.21 for Q2 2025, exceeding analyst estimates of $0.19, while GAAP revenue reached $47.8 million, surpassing expectations of $47.3 million [1][2] - Despite solid operating momentum, net income fell to $6.4 million, a 31% decline from the same quarter last year, primarily due to a significant legal settlement charge [1][2] Financial Performance - Adjusted EPS increased by 40% year-over-year from $0.15 in Q2 2024 [2] - Total revenue grew by 15% compared to Q2 2024, up from $41.7 million [2] - Pre-Provision Net Revenue decreased by 30.4% year-over-year to $9.4 million [2] - Efficiency Ratio improved to 61.0%, down from 67.6% in Q2 2024 [2] Business Overview - Heritage Commerce operates 17 full-service branches in California, focusing on small and medium-sized businesses [3] - The bank emphasizes a community approach to tailor services and maintain close customer relationships [3] Strategic Focus - Recent initiatives include leadership changes, technology investments, and enhanced risk management [4] - Key focus areas are deposit growth, loan quality, regulatory compliance, and digital banking capabilities [4] Quarter Highlights - Net interest margin improved to 3.54% in Q2 2025, contributing to revenue growth [5] - Loans held for investment increased by $47.4 million quarter-over-quarter [5] - Deposits declined by $55.9 million, attributed to seasonal outflows, but grew 4% year-over-year [6] Asset Quality - Provisions for loan losses rose to $516,000 due to loan growth, while net charge-offs decreased significantly [7] - Nonperforming assets remained stable at 0.11% of total assets, with a strong allowance for credit losses [7] Shareholder Returns - The company executed $1.9 million in share repurchases and maintained a quarterly cash dividend of $0.13 per share [8] Risk Considerations - A high concentration of commercial real estate loans, amounting to $2.0 billion, poses potential risks [9][10] - The common equity tier 1 capital ratio stood at 13.3%, indicating a robust capital position [10] Technology Investments - Continued investments in digital platforms and cybersecurity are crucial for competing with larger banks and fintech [11] Future Outlook - Management described the outlook as constructive, focusing on loan growth and maintaining a healthy net interest margin [12] - Deposit stability and the high proportion of CRE loans are key areas to monitor moving forward [13]

Core Insights - 1st Source reported Q2 2025 earnings per share (GAAP) of $1.51, exceeding analyst expectations of $1.47, while provisions for credit losses increased due to higher net charge-offs in auto and truck portfolios [1][2][7] Financial Performance - Q2 2025 revenue (GAAP) reached $108.25 million, an 11.3% increase from $97.27 million in Q2 2024 [2] - Net interest income (GAAP) rose to $85.19 million, a 15.0% increase year-over-year, driven by higher loan balances and improved net interest margin of 4.01% [2][5] - Average loans and leases grew to $6.97 billion, up 5.48% year-over-year, with significant growth in Commercial and Agricultural, Renewable Energy, and Construction Equipment portfolios [5] - Noninterest income (GAAP) was relatively flat at $23.06 million compared to Q2 2024, impacted by lower insurance commissions and equipment rental income [6] Asset Quality and Risk Management - Provisions for credit losses (GAAP) more than doubled to $7.69 million from $3.27 million in Q1 2025, with net charge-offs rising to $1.87 million [7] - Nonperforming assets as a share of loans and leases increased to 1.06%, primarily due to issues in the auto and light truck segment [7] - The allowance for loan and lease losses rose to $163.48 million, representing 2.30% of total loans and leases [7] Capital and Deposits - Average deposits increased by 2.3% to $7.35 billion, although noninterest-bearing deposits declined [8] - The bank's Common Equity Tier 1 ratio stood at 14.60%, indicating a strong capital base [8] - Tangible book value per share increased to $45.44 from $39.16 in Q2 2024 [8] Dividend and Outlook - The quarterly dividend was raised by 5.6% to $0.38 per share [10] - Management expressed confidence in the bank's balance sheet and liquidity, while acknowledging ongoing economic uncertainty and the need to monitor asset quality [10][11]

Financial Performance - Main Street Financial Services Corp. reported a net income of $3.7 million, or $0.47 per common share, for the three months ended June 30, 2025, with core net income at $4.1 million, or $0.52 per common share [2][6] - Net interest income increased by 95% to $12.5 million compared to $6.4 million for the same quarter in 2024, with a net interest margin of 3.68%, up 99 basis points from 2.69% [5][6] - Noninterest income rose to $0.9 million, an increase of 26.5% from the previous year, primarily due to interchange fees and service charges from acquired deposit accounts [8] Merger and Integration - The merger with Wayne Savings Bancshares, Inc. was completed on May 31, 2024, forming a financial holding company with assets of $1.4 billion [3][4] - The merger was accounted for as a reverse merger, with Legacy Wayne deemed the acquirer for financial reporting purposes, affecting the historical financial statements [4] - The combined organization has focused on strong underwriting standards and proactive credit quality monitoring since the merger announcement [14] Asset Quality and Growth - Total assets reached $1.45 billion, with net loan balances of $1.16 billion, reflecting a loan growth of $29.8 million, or 10.5% annualized, during the second quarter of 2025 [11][15] - The allowance for credit losses was $12.4 million, representing 1.06% of total loans, indicating stable asset quality [12][13] - Nonperforming loans decreased to $4.7 million, down from $6.1 million at the end of 2024, with a past due loan ratio of 0.51% [13] Capital and Equity - Total stockholders' equity increased to $116.6 million, up $5.9 million from December 31, 2024, driven by net income and partially offset by dividends [16] - The company declared a cash dividend of $0.14 per share on July 11, 2025 [6] Regulatory and Operational Developments - The company received regulatory approval to open a retail branch office in St. Clairsville, Ohio, expected to open in Q3 2025 [6] - The company continued to reduce reliance on wholesale funding, decreasing it by $15 million during the second quarter of 2025 [6][15]

Core 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]

Financial Data and Key Metrics Changes - The company reported GAAP earnings per share of $0.97, an increase of $0.06 or 6.6% year-over-year and up $0.04 or 4.3% from the previous quarter [10] - Operating earnings per share were $1.04, compared to $0.95 a year prior and $0.98 in the linked first quarter [10] - Total operating revenues reached $199.3 million, up $16.1 million or 8.8% year-over-year and up $3.3 million or 1.7% from the previous quarter [10][11] - Net interest income was $124.7 million, representing a $4.5 million or 3.8% increase from the previous quarter and a $15.3 million or 14% improvement year-over-year [11] - The company's operating margin increased to 23%, driving operating pretax earnings expansion of 70% year-to-date [6] Business Line Data and Key Metrics Changes - The Employee Benefits Services business remained flat year-over-year and quarter-over-quarter, with recordkeeping growing at high single digits while Fiduciary Trust faced headwinds [5] - Wealth Management Services experienced muted revenue growth year-over-year but saw a 16% increase in pretax operating earnings [6] - Banking fee income remained strong, with credit results impacted by the resolution of two large nonperforming assets [4] Market Data and Key Metrics Changes - Ending loans increased by $98 million or 0.9% during the second quarter, primarily driven by growth in the consumer indirect lending portfolio [13] - Total deposits increased by $563.9 million or 4.3% year-over-year but decreased by $190.3 million or 1.4% from the previous quarter due to seasonal outflows [14] - The company's liquidity position remains strong, with readily available sources of liquidity totaling $5.9 billion, representing 246% of estimated uninsured deposits [16] Company Strategy and Development Direction - The company announced a branch acquisition that will enhance its presence in a strategically important market, with no share issuance involved [8][19] - The acquisition aligns with the company's retail growth strategy and is expected to close in the fourth quarter of this year [7][19] - The company aims to continue deploying capital productively in the second half of the year [9] Management's Comments on Operating Environment and Future Outlook - Management noted that competition in lending has intensified, with competitors trying to regain market share [21] - The company expects to outperform peers and is optimistic about market share gains in the upcoming quarters [22] - Management expressed confidence in achieving growth targets, with a focus on maintaining a diversified revenue profile and strong liquidity [19] Other Important Information - The company recorded a provision for credit losses of $4.1 million during the second quarter, compared to $2.7 million in the prior year's second quarter [12] - Nonperforming loans totaled $53.3 million or 51 basis points of total loans outstanding, a decrease from the previous quarter [17] Q&A Session Summary Question: Can you speak to the competitive landscape you're seeing in terms of lending? - Management acknowledged increased competition in the lending market, with competitors trying to make up for previous inactivity [21][22] Question: How are you feeling about the quarterly NIM expansion from here? - Management indicated expectations of a range closer to three to five basis points for NIM expansion [25] Question: Will the acquired deposits boost liquidity and be invested over time? - Management views the acquired deposits as a source for future loan growth, with initial proceeds likely to remain in short-term instruments [26] Question: Can you talk about OpEx trends from here? - Management expects OpEx to remain flat moving forward, with a focus on ensuring investments push the business forward [32][34] Question: How is the branch acquisition progressing? - Management confirmed that the acquisition is on track and complements the organic strategy in the market [35][36] Question: Can you provide an update on the pipeline and financial targets? - Management reiterated a target of mid-single-digit growth across lending portfolios, with expectations of returning to historical growth rates [42][45]

Core Insights - Simmons First National reported non-GAAP earnings per share of $0.44, exceeding analyst expectations of $0.39, while revenue was $214.2 million, slightly below the consensus forecast of $216.66 million [1][2] - The quarter demonstrated progress in profitability, margin expansion, and efficiency, despite a slow growth pace and rising credit costs [1] Financial Performance - Non-GAAP EPS increased by 33.3% year-over-year from $0.33 in Q2 2024 [2] - Revenue grew by 8.6% compared to Q2 2024, up from $197.2 million [2] - Net interest income rose by 11.6% year-over-year to $171.8 million [2] - Noninterest expense decreased slightly by 0.6% year-over-year to $138.6 million [2] - The net charge-off ratio increased to 0.25%, up from 0.19% in Q2 2024 [2] - Return on average tangible common equity (non-GAAP) improved to 10.97%, up from 8.89% in Q2 2024 [2] Operational Highlights - The net interest margin reached 3.06%, marking the fifth consecutive quarter of growth [6] - Cost of deposits decreased to 2.36%, down from 2.79% in Q2 2024 [6] - Noninterest income fell by about 2% year-over-year, primarily due to lower fee income from interest rate swaps [7] - Loan balances remained stable at $17.1 billion, with growth in commercial and industrial loans [8] - The deposit base held steady at $21.8 billion, with an increase in brokered deposits [9] Asset Quality and Capital Management - Nonperforming loans rose to $157.2 million from $103.4 million in Q2 2024, affecting the nonperforming loan coverage ratio [10] - The common equity tier 1 (CET1) ratio improved to 12.36%, above regulatory requirements [11] - Tangible book value per share increased to $16.97, with no share repurchases during the period [11] Strategic Focus - The company is focused on maintaining asset quality, strong capital ratios, cost control, and organic growth [4] - Management highlighted a strong loan pipeline of $1.6 billion, with $564 million close to funding [13] - The company aims to manage deposit competition and increase low-cost deposits [13][14]

Company Overview - Hanmi Financial Corporation is headquartered in Los Angeles, California, and owns Hanmi Bank, which serves multi-ethnic communities through a network of 32 full-service branches, five loan production offices, and three loan centers across several states including California, Colorado, Georgia, Illinois, New Jersey, New York, Texas, Virginia, and Washington [3] - Hanmi Bank specializes in real estate, commercial, SBA, and trade finance lending to small and middle market businesses [3] Upcoming Financial Results - Hanmi Financial Corporation will report its second quarter 2025 financial results after the market close on Tuesday, July 22, 2025 [1] - Management will host a conference call on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results [1] Accessing the Conference Call - Investment professionals and current and prospective shareholders can access the live call on July 22 by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using access code "Hanmi Bank" [2] - The call can also be listened to online via the investor relations page of Hanmi's website, with a replay available approximately one hour following the call [2]

Core Insights - Tech CU has appointed Jean Barbagelata to its Board of Directors, where she will serve on the Compensation Committee and the Nominating and Governance Committee [1] - Jean Barbagelata has over 30 years of experience in senior leadership roles, particularly in scaling technology companies and fostering inclusive cultures [1][3] - Her previous role as Chief People Officer at Matterport, Inc. saw the company grow revenue by 400% and successfully navigate its IPO in 2021 [2] Company Overview - Tech CU is a $4.7 billion credit union based in the Bay Area, serving over 200,000 members across the United States [4] - The organization is a federally insured not-for-profit, focusing on delivering superior rates, lower fees, and outstanding member benefits for over 60 years [4] - Tech CU offers a range of financial products, including personal banking, wealth management, private banking, commercial lending, and business banking [4]

Core Insights - Hanover Community Bank has opened its tenth branch in Port Jefferson, New York, marking a significant step in its strategic growth and commitment to serving the Long Island region [1][4] - The new branch offers a full range of commercial banking services and robust consumer banking services, catering to both businesses and individual consumers [2][4] Company Expansion - The Port Jefferson branch is strategically located to serve the thriving Suffolk County area and is Hanover Bank's second branch in this county [2][4] - This expansion is part of Hanover Bank's broader strategy to deliver tailored, community-focused financial support across Long Island and the New York metropolitan area [4] Services Offered - The new branch provides commercial lending, treasury management, cash flow solutions, checking and savings accounts, personal loans, and digital banking tools [2][4] - Hanover Bank emphasizes a relationship-focused banking approach, aiming to empower local residents and businesses while contributing to long-term economic development [3][4] Community Engagement - The bank is committed to hiring professionals from the communities it serves, reinforcing its dedication to understanding local needs [5] - A formal Grand Opening event will be held to engage with business leaders, residents, and community stakeholders [6] Company Background - Hanover Bancorp, Inc. is the holding company for Hanover Community Bank, which focuses on personalized and efficient banking services [7] - The bank offers a complete suite of financial products, including multi-family and commercial mortgages, residential loans, and business lines of credit [7]