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Civista Bancshares, Inc. Announces Third-Quarter 2025 Financial Results of $0.68 per Common Share, up 28% from $0.53 per Common Share from Third-Quarter 2024

CIVB
  • Civista Bancshares, Inc. reported net income of $12.8 million ($0.68 per share) for the quarter ended September 30, 2025.
  • Net income increased 53% year-over-year compared to $8.4 million in Q3 2024, and rose 16% quarter-over-quarter compared to $11.0 million in Q2 2025.
  • The company completed an underwritten public offering of 3,788,238 shares at $21.25 per share, raising approximately $80.5 million.
  • The efficiency ratio improved to 61.4% in Q3 2025, down from 70.5% in Q3 2024, marking the fifth consecutive quarter of improvement.
  • Net interest margin increased 42 basis points to 3.58% for the quarter, while net interest income rose 18.2% to $34.5 million.
  • Cost of funds decreased 34 basis points to 227 basis points compared to the same period in 2024.
  • Diluted earnings per share were $0.68, up from $0.53 in Q3 2024, though down from $0.71 in Q2 2025.
  • Non-recurring acquisition expenses related to the Farmers Savings Bank merger negatively impacted net income by approximately $0.6 million (after-tax) or $0.03 per share.
  • Total assets reached $4.1 billion, with total deposits increasing to $3.2 billion, driven by a $131.8 million rise in time deposits.
  • The company announced a merger agreement to acquire The Farmers Savings Bank, having received all required regulatory approvals with a closing expected in November 2025.
  • Non-performing assets decreased to $22.8 million, resulting in a non-performing assets to total assets ratio of 0.55%.
  • Return on assets was 1.22% and return on equity was 10.70% for the quarter, both showing significant growth compared to the prior year.
  • The allowance for credit losses to total loans ratio stood at 1.30%, up slightly from 1.28% in the previous quarter.
  • CEO Dennis G. Shaffer cited strong momentum, disciplined growth, and enhanced liquidity as key drivers for the results.
  • Total shareholders' equity increased to $499.0 million, largely due to the recent capital raise from the public offering.