Welcome to our dedicated page for Civista Bancshares news (Ticker: CIVB), a resource for investors and traders seeking the latest updates and insights on Civista Bancshares 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, Inc. (CIVB) reported strong financial results for Q3 and the nine months ending September 30, 2021. Net income rose to $9.6 million ($0.64 per share) in Q3, up from $7.7 million ($0.48 per share) in 2020. Year-to-date net income reached $29.6 million ($1.90 per share), compared to $22.0 million ($1.36 per share) last year. The bank saw a decrease in COVID-19 loan deferrals to 0.9% of total loans and an increase in net interest income by 11%. A quarterly dividend of $0.14 was declared, yielding 2.41% based on the market close. Total assets grew to $2.95 billion.
Civista Bancshares, Inc. (NASDAQ:CIVB) has announced a quarterly dividend of 14 cents per common share, with shareholders on record as of October 19, 2021. This dividend will be payable on November 1, 2021, amounting to approximately $2.1 million. Based on the closing stock price of $24.89 on October 6, 2021, the annualized yield from this dividend is 2.25%.
Civista Bancshares operates as a financial holding company with a total asset value of $2.9 billion, providing banking services across several regions.
Civista Bancshares, Inc. (NASDAQ: CIVB) announced that it will release its third quarter 2021 financial results on October 27, 2021, prior to market open. Following the release, the company will hold a conference call and webcast at 1:00 p.m. Eastern Time for analysts and investors to discuss the results. Civista, a $2.9 billion financial holding company, operates 35 banking locations across Ohio, Indiana, and Kentucky. The information will be available for replay on their website after the call.
Civista Bancshares (NASDAQ:CIVB) has announced a new share repurchase program, authorizing the buyback of up to $13.5 million in common shares. This replaces a prior program that nearly utilized its $12.8 million limit. The program aims to enhance shareholder value, though the timing and amount of repurchases will depend on various factors, including stock performance and market conditions. The initiative will run until August 10, 2022.
Civista Bancshares reported robust financial results for Q2 2021, netting $9.2 million or $0.59 per diluted share, up from $6.5 million or $0.41 a year earlier. Year-to-date net income reached $19.9 million, or $1.27 per diluted share, compared to $14.3 million, or $0.88 in 2020. A balance sheet restructuring included prepaying a $50 million FHLB advance, incurring a $3.7 million penalty. The bank's COVID-19 loan deferrals significantly fell to 2.5%. A quarterly dividend of $0.12 was declared, reflecting a 2.17% yield and 17% increase for Q3.
Civista Bancshares, Inc. (CIVB) has declared a quarterly dividend of 14 cents per share, set for shareholders of record on July 20, 2021, and payable on August 2, 2021. This payout totals approximately $2.1 million and represents an annualized yield of 2.55% based on the closing stock price of $21.92 on July 7, 2021. Civista is a financial holding company with assets of $3.1 billion, operating 37 banking locations across Ohio and Indiana.
Civista Bancshares, Inc. (NASDAQ:CIVB) is set to release its second quarter 2021 financial results on July 23, 2021, before the market opens. Following the announcement, a conference call will take place at 1:00 p.m. ET the same day, allowing analysts to engage in a Q&A session. Civista Bancshares operates with assets totaling $3.1 billion and has a banking subsidiary, Civista Bank, with 37 locations across Ohio, Indiana, and Kentucky. The company emphasizes forward-looking statements about its financial performance and operating strategies.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced three strategic transactions on May 17-19, 2021. The company sold 7,361 shares of Visa Inc. Class B stock for a pre-tax gain of $1.8 million. Additionally, it prepaid $50 million in Federal Home Loan Bank advances, incurring a $3.7 million loss but saving $1 million in annual interest expenses. The net result of these actions is a pre-tax loss of $1.9 million, but it is expected to enhance earnings per share by $0.12 annually and improve the net interest margin by a total of 29 basis points.
Civista Bancshares, Inc. (CIVB) reported a strong first quarter for 2021, achieving a net income of $10.8 million or $0.68 per diluted share, up from $7.8 million or $0.47 per diluted share in Q1 2020. The bank's quarterly dividend rose to $0.12, yielding 2.09%. Despite a net interest margin decrease to 3.30%, net interest income increased $1.7 million to $23.8 million, bolstered by PPP loan fees. Total assets rose 10.7% to $3.21 billion, and noninterest income surged 33.7% to $9.2 million.
Civista Bancshares, Inc. (NASDAQ:CIVB) has announced a new stock repurchase program, authorizing the purchase of up to $13.5 million of its common shares. This program replaces the previous one, which expired on April 20, 2021, and resulted in $6.9 million in shares repurchased. CEO Dennis G. Shaffer stated that this repurchase aims to enhance shareholder value, building on efforts initiated in late 2020. The program will remain active until April 19, 2022, with no guarantees on the number of shares purchased based on market conditions and company performance.
FAQ
What is the current stock price of Civista Bancshares (CIVB)?
What is the market cap of Civista Bancshares (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?
