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 community-focused financial holding company operating through Civista Bank, providing commercial lending, wealth management, and banking services across Ohio and neighboring regions. This news hub offers investors and stakeholders centralized access to official announcements and market-moving updates.
Track critical developments including quarterly earnings reports, regulatory filings, and strategic initiatives shaping Civista's position in regional banking. Our curated feed includes updates on loan portfolio performance, deposit growth strategies, and leadership changes affecting the company's operations.
Key content categories cover financial results, merger & acquisition activity, dividend declarations, and technology investments in digital banking infrastructure. Stay informed about Civista's responses to interest rate changes, credit market conditions, and competitive pressures in the Midwest banking sector.
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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.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend of 12 cents per common share, totaling approximately $1.9 million. Shareholders of record by April 20, 2021 will receive this dividend, payable on May 1, 2021. Based on the April 8 closing stock price of $23.27, the annualized yield stands at 2.06%. Civista, a financial holding company with a total asset value of $2.8 billion, operates through 37 banking locations across Ohio, Indiana, and Kentucky.
Civista Bancshares, Inc. (NASDAQ: CIVB) announced it will release its first quarter 2021 financial results on April 23, 2021, before market opening. A conference call is scheduled for 1:00 p.m. ET on the same day to discuss these results. Analysts will have an opportunity to participate in a Q&A session. Civista, a financial holding company based in Sandusky, Ohio, operates 37 banking locations across Ohio, Indiana, and Kentucky, managing approximately $2.8 billion in assets.
Civista Bancshares (CIVB) reported Q4 2020 net income of $10.2 million, or $0.64 per share, up from $7.7 million ($0.47 per share) a year prior. However, total annual net income decreased to $32.2 million from $33.2 million in 2019. Notably, pre-tax, pre-provision net income reached a record $47.2 million. COVID-19 loan deferrals were down to 4% of total loans, with no specific loan losses reported. The dividend was increased by 9.1% to $0.12 per share, yielding 2.65%. Total deposits surged by 30.4% to $2.2 billion, driven by significant growth in both noninterest and interest-bearing deposits.
