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 financial holding company headquartered in Sandusky, Ohio, with operations centered on community banking through its subsidiary Civista Bank. The Civista Bancshares news feed on Stock Titan aggregates company-issued press releases and market-moving updates so readers can follow how this regional commercial banking organization is evolving over time.
According to company disclosures, Civista regularly reports its quarterly and year-to-date financial results, highlighting metrics such as net income, diluted earnings per common share, net interest margin, cost of funds, efficiency ratio, and loan and deposit trends. These earnings announcements are often accompanied by management commentary explaining performance drivers, non-recurring items, and developments in areas like commercial real estate, residential real estate, construction lending, and equipment leasing.
News coverage for CIVB also includes dividend declarations approved by the Board of Directors, detailing quarterly cash dividends on common shares and related record and payment dates. Investors can track how Civista balances earnings, capital, and shareholder distributions through these recurring announcements.
Another key category of Civista news involves strategic transactions and expansion. Recent press releases describe the signing, regulatory approval, and completion of the merger of The Farmers Savings Bank with and into Civista Bank, adding branches and deposits in Northeast Ohio. Updates on system conversions and the Civista Leasing and Finance Division also appear in the company’s communications.
Capital markets activity and corporate governance items, such as public offerings of common stock, exercise of underwriters’ overallotment options, and amendments to corporate regulations, are reported through press releases and referenced in SEC filings. Leadership changes, including appointments to senior roles in lending and executive management, round out the types of announcements investors can follow.
By reviewing Civista Bancshares news on this page, users can monitor financial performance updates, dividend actions, merger milestones, capital raises, and organizational developments that shape the CIVB investment story over time.
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.
Civista Bancshares, announced it will release its second quarter 2024 financial results before the market opens on Monday, July 29, 2024.
Following the release, Civista will host a conference call and webcast to discuss the results at 1:00 p.m. ET on the same day. The call can be accessed via telephone at (800) 836-8184 or through a live webcast on the company's website.
An archived version of the webcast will be available shortly after the live session. Civista Bancshares, a $3.9 billion financial holding company headquartered in Sandusky, Ohio, operates 43 locations across Ohio, Indiana, and Kentucky and provides various banking services through its primary subsidiary, Civista Bank.
Civista Bancshares, Inc. named Ian Whinnem as the new Chief Financial Officer, joining on June 3, 2024. With over 25 years of experience in corporate finance in banking, including a senior position at Huntington Bancshares, Inc., Whinnem brings valuable expertise to Civista's executive team. His role will involve overseeing the company's financial functions and contributing to strategic decision-making.
Civista Bancshares, Inc. reported a net income of $6.4 million for the first quarter of 2024, a decrease from $12.9 million in the same period of 2023. The company faced challenges due to the exit from the payment tax refund business and other factors, resulting in a decrease in noninterest income. Net interest income and margin also saw a decline, with interest expense increasing significantly. However, Civista maintained a dividend payout ratio of 42.11% and an annualized yield of 4.16%.
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