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Civista Bancshares, Inc. Announces First-Quarter 2026 Financial Results of $0.72 per Common Share, up $0.06 per Common Share from First-Quarter 2025

CIVB
  • Civista Bancshares, Inc. reported net income of $15.0 million ($0.72 per diluted share) for the quarter ended March 31, 2026.
  • First-quarter 2026 net income increased 47% year-over-year compared to $10.2 million in Q1 2025 and 22% sequentially compared to $12.3 million in Q4 2025.
  • Results included non-recurring acquisition-related adjustments associated with the Farmers Savings Bank merger that reduced net income by approximately $0.4 million ($0.02 per share).
  • Net interest margin expanded to 3.85%, a 34 basis point year-over-year increase and 16 basis point sequential increase.
  • Cost of funds decreased to 196 basis points, down 35 basis points year-over-year and 12 basis points sequentially.
  • Cost of deposits fell to 181 basis points, down 19 basis points year-over-year and 11 basis points sequentially.
  • Efficiency ratio improved to 60.1% from 64.9% in the prior year quarter.
  • Total deposits grew by $35.4 million (1.0%) to $3.5 billion, while total assets decreased slightly by $38.1 million to $4.3 billion.
  • Loan and lease balances decreased $40.4 million (1.2%) due to seasonal construction runoff and loan payoffs.
  • Non-performing assets decreased $1.0 million (3.3%) to $30.2 million, with an allowance for credit losses to total loans ratio of 1.26%.
  • Dividend declared at $0.18 per share, an increase from $0.17, representing an annualized yield of 3.16% based on the March 31 closing price.
  • The company successfully completed the core system conversion and operational integration of The Farmers Savings Bank during the quarter.
  • Non-interest income rose $1.6 million (20.0%) to $9.4 million, driven by higher service charges and net gains on loan sales.
  • Non-interest expense increased $2.7 million (10.1%) to $29.9 million, primarily due to higher compensation costs from increased employee numbers.
  • Return on average assets reached 1.41%, up from 1.00% in Q1 2025, while return on average equity increased to 10.97%.