Welcome to our dedicated page for Civista Bancshar news (Ticker: CIVB), a resource for investors and traders seeking the latest updates and insights on Civista Bancshar stock.
Civista Bancshares, Inc. (NASDAQ: CIVB) is a well-established financial holding company headquartered in Sandusky, Ohio. Through its primary subsidiary, Civista Bank, founded in 1884, it offers a comprehensive suite of financial services, including community banking, commercial lending, mortgage, and wealth management services. Civista Bank operates 43 locations across Ohio, Southeastern Indiana, and Northern Kentucky, solidifying its presence in these regions.
The company's core business involves collecting customer deposits, making loans, purchasing securities, and providing trust services. Its loan portfolio is diversified, including commercial and agricultural loans, commercial real estate (both owner-occupied and non-owner-occupied), residential real estate, and consumer loans. Most of its revenue comes from the interest and fees earned on these loans.
In recent financial updates, Civista Bancshares reported a strong performance for 2023. For example, net interest income increased by $15.3 million, or 13.9%, compared to the previous year. This boost was driven by organic growth and strategic acquisitions, including the acquisition of Comunibanc Corp and Vision Financial Group, now known as Civista Leasing and Financing (CLF).
Despite facing pressures from rising deposit rates and funding costs, Civista has continued to post significant earnings. The company's net interest margin stood at 3.70% for the twelve months ending December 31, 2023. Moreover, Civista’s loan and lease balances increased by $213.4 million, or 8.1%, indicating strong demand in the commercial real estate and residential sectors.
Civista's noninterest income saw a notable increase of $8.1 million, or 27.8%, driven by lease revenue, residual income from CLF, and a $1.5 million fee from renewing its MasterCard contract. However, noninterest expenses also rose by 18.9% due to the incorporation of CLF and other operational costs.
With a forward-looking approach, Civista continues to focus on managing their loan portfolio and expanding their services. They also maintain a stock repurchase program, with $12 million remaining from the current authorization as of early 2024.
Civista Bancshares remains committed to serving its community while adapting to the evolving financial landscape. Investors can stay informed with regular updates through their earnings calls and archived webcasts on the company’s website.
For more detailed, up-to-date information, visit www.civb.com.
Civista Bancshares (NASDAQ:CIVB) reported Q4 2024 net income of $9.9 million ($0.63 per diluted share), up from $9.7 million ($0.62 per share) in Q4 2023. Full-year 2024 net income was $31.7 million ($2.01 per share), down from $43.0 million ($2.73 per share) in 2023.
Key Q4 highlights include net interest margin of 3.36%, cost of deposits at 220 basis points, and a quarterly dividend yield of 3.04%. The company successfully replaced $5.2 million in non-interest income despite reductions in overdraft fees, tax refund processing, and MasterCard renewal fees.
Credit quality remained solid with allowance to total loans ratio at 1.29%. The efficiency ratio increased to 68.3% in Q4 2024 from 63.3% in Q4 2023, primarily due to an 11.8% increase in noninterest expenses. The company maintained strong loan growth and deposit relationships while implementing strategic pricing initiatives.
Civista Bancshares (NASDAQ: CIVB) has announced that Charles A. Parcher will assume the role of Executive Vice President & Chief Lending Officer of Civista Bancshares and President & Chief Lending Officer of Civista Bank. Dennis G. Shaffer will continue as CEO & President of Civista Bancshares and CEO of Civista Bank.
Parcher, who joined Civista in 2016, brings over 36 years of banking experience, having previously held positions as Market President at FirstMerit, Executive Vice President at Sky Bank, and Senior Vice President at Huntington Bank. He holds an MBA from the University of Toledo and a bachelor's degree in finance and economics from Miami University.
Civista Bancshares is a $4.1 billion financial holding company headquartered in Sandusky, Ohio. Its subsidiary, Civista Bank, founded in 1884, operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky, offering full-service banking, commercial lending, mortgage, and wealth management services.
Civista Bancshares (NASDAQ:CIVB) has announced a quarterly dividend increase of 1 cent to 17 cents per common share. The dividend will be payable on February 18, 2025, to shareholders of record as of February 4, 2025, representing a total payout of approximately $2.7 million. Based on the closing stock price of $21.30 on January 21, 2025, this dividend yields an annualized 3.19%.
Civista Bancshares is a $4.1 billion financial holding company headquartered in Sandusky, Ohio. Its main subsidiary, Civista Bank, founded in 1884, operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky, offering full-service banking, commercial lending, mortgage, and wealth management services. The company's Civista Leasing & Finance division provides commercial equipment leasing services nationwide.
Civista Bancshares (NASDAQ:CIVB) has announced it will release its fourth quarter 2024 financial results before market open on Thursday, January 30, 2025. The company will host a conference call and webcast at 1:00 p.m. Eastern Time on the same day to discuss the results.
Civista Bancshares is a $4.1 billion financial holding company headquartered in Sandusky, Ohio. Its main subsidiary, Civista Bank, operates 42 locations across Ohio, Southeastern Indiana, and Northern Kentucky. The bank provides full-service banking, commercial lending, mortgage, and wealth management services. Additionally, through its Civista Leasing and Finance Division, the company offers commercial equipment leasing services nationwide.
Civista Bancshares (NASDAQ: CIVB) reported Q3 2024 net income of $8.4 million, or $0.53 per diluted share, compared to $10.4 million, or $0.66 per share in Q3 2023. Net interest income increased $1.5 million (5.3%) from Q2 2024 but decreased $2.3 million year-over-year. The company increased deposits by $246 million and reduced wholesale borrowings by $213 million. Net interest margin decreased to 3.16% from 3.69% year-over-year. The efficiency ratio was 70.2% compared to 65.6% in Q3 2023.
Civista Bancshares (NASDAQ: CIVB) has declared a quarterly dividend of 16 cents per common share, payable November 19, 2024, to shareholders of record November 5, 2024. The dividend totals approximately $2.5 million and represents an annualized yield of 3.59% based on the October 25, 2024 closing price of $17.84. Civista is a $4.0 billion financial holding company operating 43 locations across Ohio, Southeastern Indiana and Northern Kentucky, offering banking, commercial lending, mortgage, and wealth management services.
Civista Bancshares, Inc. (NASDAQ: CIVB) has announced it will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. The company will host a conference call and webcast at 1:00 p.m. Eastern Time on the same day to discuss the results. Analysts can participate in the Q&A session.
Conference call details:
- Date: Tuesday, October 29, 2024
- Time: 1:00 p.m. Eastern Time
- Telephone Access: (800) 836-8184 (ask to join Civista Bancshares earnings call)
- Webcast: Available on the company's website
Civista Bancshares is a $4.0 billion financial holding company based in Sandusky, Ohio. Its main subsidiary, Civista Bank, offers full-service banking, commercial lending, mortgage, and wealth management services across Ohio, Southeastern Indiana, and Northern Kentucky through 43 locations.
Civista Bancshares, Inc. (NASDAQ: CIVB) announced its unaudited financial results for Q2 2024. Key highlights include:
Earnings per diluted share (EPS) of $0.45, up 10% from the prior quarter but down 30% YoY.
Net income was $7.1 million, an 11% increase from the previous quarter but a 30% decline from Q2 2023.
Net interest income decreased $0.6 million QoQ and $3.6 million YoY. Interest income rose $0.5 million QoQ but was offset by a $1.1 million increase in interest expense.
Total assets grew by $131.7 million QoQ. Loans and leases increased by $153.3 million YTD, led by residential real estate and construction loans.
Noninterest income for Q2 2024 totaled $10.5 million, up 15.2% YoY, driven by increased lease revenue.
Noninterest expense increased 3.3% YoY, primarily due to higher compensation costs.
Provision for credit losses for Q2 2024 was $1.8 million, up from $861 thousand in Q2 2023, partly due to a fraud-related charge-off.
Deposits decreased $3.1 million QoQ but increased $34.8 million YoY.
Dividend of $0.16 per share, annualized yield of 4.13%, and payout ratio of 35.6%.
Civista Bancshares (NASDAQ:CIVB) has declared a quarterly dividend of 16 cents per common share, payable on August 20, 2024, to shareholders of record as of August 6, 2024. This dividend represents a total payout of approximately $2.5 million. Based on Civista's closing stock price of $18.74 on July 25, 2024, the dividend yields an annualized return of 3.42%.
Civista Bancshares is a $3.9 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, operates 43 locations across Ohio, Southeastern Indiana, and Northern Kentucky, offering full-service banking, commercial lending, mortgage, and wealth management services. The company's shares are traded on the NASDAQ Capital Market under the symbol 'CIVB'.
Civista Bancshares (NASDAQ: CIVB) has announced the retirement of Todd Michel, Senior Vice President and Controller, effective July 16, 2024. Michel concludes a remarkable 39-year career with the company, having joined in 1985 as a seasonal teller. The company has initiated a search for a permanent replacement. In the interim, Ian Whinnem, Senior Vice President and Chief Financial Officer, will serve as Principal Accounting Officer.
Michel's career progression at Civista included joining the accounting department in 1988 after graduating from Bowling Green State University, being promoted to Vice President and Controller in 1998, and becoming Senior Vice President in 2000.
FAQ
What is the current stock price of Civista Bancshar (CIVB)?
What is the market cap of Civista Bancshar (CIVB)?
What services does Civista Bancshares' subsidiary Civista Bank offer?
What is the main revenue source for Civista Bancshares?
Where is Civista Bancshares headquartered?
How has Civista Bancshares performed financially in recent years?
What strategic acquisitions has Civista Bancshares made?
What is Civista Bancshares' stock symbol?
Does Civista Bancshares have a stock repurchase program?
How can investors stay updated on Civista Bancshares' financial results?
What types of loans does Civista Bancshares offer?
How can I learn more about Civista Bancshares?
