CIVB

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Net interest margin expanded by 4 basis points to 3.89%, driven by a disciplined approach to asset pricing and a 2 basis point reduction in overall funding costs. The bank successfully reduced its reliance on higher-cost brokered funding by $276 million over the last eight quarters, replacing maturing CDs with lower-rate laddered instruments. Loan growth of 3.1% annualized was achieved despite $68 million in early payoffs, which management characterized as 'good payoffs' from successful real estate projects exiting to permanent markets. Efficiency ratio improved significantly to 58.2% from 64.5% in the prior year, reflecting effective control over noninterest expenses and operational synergies from recent integrations. Management attributes the 27.6% year-to-date increase in noninterest income to diversified revenue streams, including higher business service charges and increased mortgage and lease sale volumes. The regional economy across Ohio and Southeastern Indiana remains resilient with no signs of deterioration, supporting strong credit quality and a stable 1.28% allowance for credit losses. Management anticipates mid-single digit loan growth for the remainder of 2026, supported by a commercial pipeline that is up 42% over the prior year. Net interest margin is expected to remain flat in Q3 with potential expansion of 1 to 2 basis points in Q4 as earning assets continue to reprice higher. The bank plans to reduce brokered deposits by approximately $25 million in each of the next two quarters to further optimize the funding mix. Noninterest expense is projected to rise to between $29.6 million and $30 million in the second half of the year due to planned reinvestments in revenue-producing personnel and technology. Capital allocation strategy remains focused on organic growth and infrastructure investment, though management continues to evaluate share repurchases and M&A opportunities in a quiet market. Dennis Shaffer announced his retirement as CEO effective next month, with Chuck Parcher set to assume the role; Shaffer will remain Chairman of the Board. The bank maintains a low exposure to office real estate, with the segment representing only 4.6% of the total portfolio and primarily consisting of low-rise suburban properties. A $1.3 million provision for loan losses was made during the quarter to maintain the allowance ratio at 1.28% amid normalizing credit metrics. Management is evaluating the handling of subordinated debt maturing in December as a potential use for excess capital. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects expenses to increase slightly to the $29.6 million to $30 million range in Q3 and Q4. The increase is attributed to hiring revenue-producing staff in lending and treasury management, as well as marketing and technology spend. While management views the stock as a value, they are prioritizing investments in people and technology to generate higher long-term returns. Strategic flexibility remains high with a TCU ratio above 10%, providing a buffer for potential M&A if the quiet Ohio market becomes active. Payoffs are expected to subside in the second half of the year compared to the elevated levels seen in the first half. Growth will be driven by the drawdown of $250 million in unused construction lines and a robust commercial pipeline. Approximately $1 billion of the loan portfolio is scheduled to reprice within the next six months. Roughly 50% of the total portfolio will reprice within the next 12 months, providing a tailwind for yields if rates remain stable or rise.

This article first appeared on GuruFocus. Net Income: $14.3 million or $0.69 per diluted share, a 30% increase over Q2 2025. Pre-Provision Net Revenue: Increased by $5 million or 36% over Q2 2025. Net Interest Income: $38.6 million, a 2% increase compared to the linked-quarter. Net Interest Margin: Expanded by 4 basis points to 3.89%. Cost of Funds: 1.94%, down 37 basis points from Q2 2025. Loan Growth: $25.2 million increase, annual growth rate of 3.1%. Return on Assets (ROA): 1.34% for the quarter. Return on Equity (ROE): 10.23% for the quarter. Tangible Book Value Per Share: $20.43, seventh consecutive quarter of growth. Dividend: $0.18 per share, 2.55% yield, 26.14% payout ratio. Non-Interest Income: $9 million, a decline of $424,000 from the first quarter. Non-Interest Expense: $28.7 million, a 4.1% decrease from the linked-quarter. Efficiency Ratio: Improved to 58.2% from 60.1% in the linked-quarter. Effective Tax Rate: 16.66% for the quarter. Total Deposits: Declined $44 million or 1.2% for the quarter. Securities Portfolio: $670 million, 16% of the balance sheet. Allowance for Credit Losses: 1.28% of total loans. Warning! GuruFocus has detected 8 Warning Signs with CIVB. Is CIVB fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Civista Bancshares Inc (NASDAQ:CIVB) reported a net income of $14.3 million for the second quarter, marking a 30% increase over the same period in 2025. The company's net interest margin expanded by 4 basis points to 3.89%, reflecting effective management of asset pricing and funding costs. Loan balances grew by $25.2 million during the quarter, with $351 million in new organic loan production. The tangible book value per share increased for the seventh consecutive quarter to $20.43, representing an average return of 15.5% over that period. Civista Bancshares Inc (NASDAQ:CIVB) announced a quarterly dividend of $0.18 per share, consistent with the prior quarter, representing a 2.55% yield. Net income declined by $674,000 from the linked-quarter, indicating some challenges in maintaining consistent growth. Non-interest income for the second quarter was $9 million, a decline of $424,000 from the first quarter. Total deposits declined by $44 million or 1.2% for the quarter, partly due to a reduction in brokered deposits. The cost of core deposits increased by 4 basis points compared to the linked-quarter, indicating rising funding costs. Non-interest expense increased by $1.2 million or 4.3% compared to the prior year's second quarter, driven by higher compensation and marketing expenses. Q: Can you provide insights on the non-interest expense outlook for the remainder of the year? A: Ian Whinnem, CFO, stated that non-interest expenses were slightly better than expected at $28.7 million. For the rest of the year, they plan to reinvest in revenue-producing colleagues, marketing, and technology, expecting expenses to be between $29.6 million and $30 million in Q3 and Q4. Q: What is the outlook for net interest margin growth? A: Ian Whinnem, CFO, mentioned that if there are no rate changes, Q3 is expected to be flat, with a potential 1-2 basis points expansion in Q4, possibly reaching the upper 380s to low 390s. This growth is driven by earning asset side expansion, partially offset by higher funding costs. Q: How does Civista plan to utilize its capital given the current TC ratio? A: Dennis Shaffer, CEO, explained that the focus is on investing in technology, people, and infrastructure, particularly in lending, treasury management, and private banking. They are also considering stock repurchases and maintaining strategic flexibility with their capital. Q: Can you update us on the competitive landscape for core funding? A: Dennis Shaffer, CEO, noted that the environment is very competitive, with efforts to raise deposits at a lower cost than brokered funds. They are focusing on driving core operating accounts and have added producers in treasury management and private banking to attract deposits. Q: What is the expectation for loan growth in the second half of the year? A: Charles Parcher, EVP, indicated that they expect mid-single-digit loan growth, driven by both reduced payoffs and increased loan production. The commercial lending team is aware of potential payoffs, and the pipeline remains robust. Q: How is the pricing environment for loans in your markets? A: Charles Parcher, EVP, stated that while the environment is competitive, they are not losing many deals to rate competition due to strong customer relationships. New loans are expected to have higher rates due to market conditions. Q: What percentage of the loan portfolio is floating rate, and how much is set to reprice soon? A: Dennis Shaffer, CEO, mentioned that about $900 million is purely floating, with $880 million repricing in the next 30 days. Approximately 50% of the portfolio will reprice within the next 12 months. Q: Are there any updates on M&A activities? A: Dennis Shaffer, CEO, noted that the M&A environment is quiet in Ohio and Indiana. They maintain good relations with potential targets but are currently focused on organic growth to drive EPS and tangible book value. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

SANDUSKY, Ohio, July 23, 2026 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ: CIVB) ("Civista") today reported net income of $14.3 million, or $0.69 per common share, for the quarter ended June 30, 2026. The results of the periods presented include the impact of The Farmers Savings Bank ("FSB") merger since November 7, 2025. Net income for the second-quarter of 2026 of $14.3 million, a $3.3 million or 30.0% increase compared to $11.0 million for the second-quarter 2025, but down $0.7 million or 4.5% compared to $15.0 million for the first-quarter 2026. Net interest margin expanded 25 basis points year-over-year to 3.89% while cost of funds declined 37 basis points. Diluted earnings per common share were $0.69 for the second quarter of 2026, compared to $0.71 for the second quarter of 2025. The modest decrease primarily reflects the additional shares issued in connection with the FSB merger and common stock offering completed during the second-half of 2025. Pre-Provision Net Revenue (PPNR) for the second quarter of 2026 was $18.9 million, compared to $17.4 million in the first quarter of 2026 and $13.9 million for the second quarter of 2025. Cost of funds of 194 basis points for the second-quarter of 2026, 37 basis points lower than the 232 basis points cost of funds for the second-quarter of 2025, and 2 basis points lower than the 196 basis points in first-quarter 2026. Cost of deposits of 183 basis points for the second-quarter of 2026, down 13 basis points compared to 196 basis points in the second-quarter of 2025, but 2 basis points higher than the 181 basis points in the first-quarter of 2026. Brokered deposits declined $25.0 million linked quarter and $52.0 million since year-end 2025 as Civista continued optimizing its funding mix and reducing higher-cost funding sources. Total loans increased $25.2 million, or 0.8%, in the second quarter of 2026 compared to the first quarter of 2026. Return on Assets of 1.34%, compared to 1.06% for the second quarter of 2025. Leadership Transition: As previously announced, Dennis Shaffer will be retiring as President and Chief Executive Officer effective August 28, 2026. Chuck Parcher will succeed Shaffer as President and Chief Executive Officer, ensuring a planned and orderly leadership transition. CEO Commentary: "Civista delivered a strong second quarter and first half of 2026, reflecting continued execution of our strategy and the strength of our balance sheet," said Dennis Shaffer, President and Chief Executive Officer of Civista Bancshares, Inc. "During the quarter, net interest margin expanded, funding costs continued to improve, credit quality remained stable, and our efficiency ratio improved significantly from a year ago. These results demonstrate the benefits of disciplined balance sheet management and our ongoing focus on operational excellence." "While the operating environment remains dynamic, our team continues to execute with a focus on prudent growth, sound risk management, strong customer relationships, and long-term shareholder value creation. We remain encouraged by the strength of our core banking franchise, the quality of our customer base, and the opportunities across our markets." "This quarter also marks my final earnings release as Chief Executive Officer of Civista Bancshares. Serving our customers, communities, shareholders, and employees has been one of the great privileges of my career. I am deeply grateful to our employees for their dedication, to our Board of Directors for their guidance and support, and to our customers for the trust they have placed in Civista throughout the years." "As we prepare for our leadership transition in August, I am confident that Civista's future is bright. Chuck Parcher is an exceptional leader who understands our culture, our markets, and our commitment to community banking. With a talented leadership team, a strong capital position, and a clear strategic direction, Civista is well positioned for continued growth and success in the years ahead." Results of Operations: For the three-month periods ended June 30, 2026, March 31, 2026 and June 30, 2025. The results of the periods reflect the inclusion of FSB merger since November 7, 2025. Second-Quarter 2026 Highlights Net income of $14.3 million, a $3.3 million or 30% increase compared to $11.0 million for the second quarter 2025, but down $0.7 million or 4.5% compared to the $15.0 million for the first quarter of 2026. Diluted earnings per common share were $0.69 for the second quarter of 2026, compared to $0.71 for the second quarter of 2025. The modest decrease primarily reflects the additional shares issued in connection with the FSB merger and common stock offering completed during the second-half of 2025. Pre-Provision Net Revenue (PPNR) for the second quarter of 2026 was $18.9 million, compared to $17.4 million in the first quarter of 2026 and $13.9 million for the second quarter of 2025. Net interest margin (tax‑equivalent) expanded to 3.89% during the second quarter of 2026, increasing 25 basis points year‑over‑year, reflecting lower funding costs and disciplined balance‑sheet management. Net interest income of $38.6 million, up $3.8 million or 10.9% compared to the second quarter of 2025, and up $0.8 million or 2.0% compared to the first quarter of 2026. Total loans increased $25.2 million, or 0.8%, in the second quarter of 2026 compared to the first quarter of 2026. Brokered deposits declined $25.0 million linked quarter and $52.0 million since year-end 2025 as Civista continued optimizing its funding mix and reducing higher-cost funding sources. Cost of funds of 194 basis points for the second-quarter of 2026, 37 basis points lower than the 232 basis points cost of funds for the second-quarter of 2025, and 2 basis points lower than the 196 basis points in first-quarter 2026. Cost of deposits of 183 basis points for the second-quarter of 2026, down 13 basis points compared to 196 basis points in the second-quarter of 2025, but 2 basis points higher than the 181 basis points in the first-quarter of 2026. Efficiency ratio for the second quarter of 2026 was 58.2%, compared to 64.5% for the second quarter of 2025. Return on Assets of 1.34%, compared to 1.06% for the second quarter of 2025. Net charge-offs totaled $0.1 million during the quarter. Allowance for credit losses on loans / total loans of 1.28%. Tangible book value per share increased 6.0% from December 31, 2025, to $20.43 at June 30, 2026 Declared a quarterly cash dividend of $0.18 per share, consistent with the first quarter 2026. Based on the June 30, 2026 closing share price of $28.22, the $0.18 quarterly dividend represents an annualized yield of 2.55% and a payout ratio of 26.14%. Assets Total assets at June 30, 2026, were $4.3 billion, unchanged from March 31, 2026. Loan and lease balances increased $25.2 million, or 0.8% since March 31, 2026. Real Estate Construction loans increased $11.2 million since March 31, 2026, mainly due to seasonal construction patterns that typically see their lowest activity in the first quarter and a ramp up in activity starting in the second quarter. Residential Real Estate increased $14.5 million since March 31, 2026 reflecting increased demand for new originations. Deposits & Borrowings Total deposits at June 30, 2026, were $3.5 billion, a decrease of $43.6 million, or 1.2% from March 31, 2026. Total deposits declined modestly due primarily to seasonal public fund fluctuations and continued reduction of higher-cost brokered deposits. Interest-bearing demand deposits decreased $38.5 million from March 31, 2026, primarily due to decreases of $29.0 million and $9.7 million in interest-bearing public funds and retail interest-bearing demand deposits, respectively, slightly offset by an increase of $1.7 million in jumbo demand deposits. Savings and money markets decreased $20.2 million from March 31, 2026, primarily due to decreases of $10.5 million, $10.2 million, and $4.6 million, in ICS money market deposits, retail money market deposits, and statement savings, respectively, slightly offset by an increase of $3.2 million in business money market deposits. Time deposits increased $50.7 million from March 31, 2026, primarily due to increases of $29.2 million, $16.3 million, and $5.7 million in jumbo CDs, retail CDs, and CDARS, respectively. Brokered deposits totaled $350.1 million at June 30, 2026, which included brokered certificates of deposit of $350.0 million and brokered money markets of $0.1 million. Brokered deposits decreased $25.0 million from March 31, 2026, reflecting management's continued efforts to reduce higher cost brokered deposits. FHLB short-term advances totaled $123.5 million on June 30, 2026, up $23.5 million from March 31, 2026. Net Interest Income and Net Interest Margin Net interest income increased $3.8 million, or 10.9%, for the second quarter of 2026, compared to the same period last year. In the second quarter of 2025, net interest income was increased by $1.6 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. Interest income increased $0.3 million year over year, primarily reflecting growth in average interest‑earning assets, mostly offset by the non-recurring adjustment discussed above in the second quarter of 2025. Interest expense decreased $3.5 million year over year, mainly due to lower borrowing costs from reduced short‑term FHLB advances coupled with strategic time deposit pricing. Net interest margin increased 25 basis points to 3.89% for the second quarter of 2026, compared to 3.64% for the same period last year, reflecting disciplined deposit pricing, a reduced reliance on higher‑cost wholesale funding, and favorable repricing dynamics, partially offset by pressure from changes in asset mix. Net interest income increased $8.8 million, or 13.1%, for the six months ended June 30, 2026, compared to the same period last year. For the six months ended June 30, 2025, net interest income was increased by $1.6 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. Interest income increased $2.4 million for the six-months ended June 30, 2026, compared to the same period last year, attributed to average interest-earning assets increasing $176.4 million, slightly offset by a 10-basis point decrease in asset yield. Interest expense decreased $6.5 million for the six months ended June 30, 2026, compared to the same period last year. This was due to a 104-basis point reduction in higher cost short-term FHLB borrowings coupled with a 48-basis point drop in time deposits, mostly offset by $235.2 million average balance growth in interest-bearing deposits. Net interest margin increased 30-basis points to 3.87% for the six months ended June 30, 2026, compared to 3.57% for the same period last year. Credit Provision for credit losses (including provision for unfunded commitments) increased $0.8 million for the second quarter of 2026 to $1.8 million compared to $1.0 million for the same period last year. Civista recorded net charge-offs of $0.1 million for the second quarter of 2026 compared to net charge-offs of $1.0 million for the same period last year. The allowance for credit losses to loans ratio was 1.28% at June 30, 2026, compared to 1.28% at June 30, 2025, and 1.28% at December 31, 2025. The allowance for credit losses was $41.7 million at June 30, 2026, compared to $40.5 million at June 30, 2025, and $42.0 million at December 31, 2025. Non-performing assets at June 30, 2026, were $30.5 million, a decrease of $0.8 million or 2.6%, from December 31, 2025. The non-performing assets to assets ratio was 0.71% and 0.72% at June 30, 2026 and December 31, 2025, respectively. The allowance for credit losses to non-performing loans increased slightly to 136.8% at June 30, 2026, from 134.2% at December 31, 2025. Non-interest Income Non-interest income for the second quarter of 2026 totaled $9.0 million, an increase of $2.4 million or 36.7%, when compared to the same period last year. In the second quarter of 2025, noninterest income was reduced by $1.0 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. Service charges increased $0.3 million for the second quarter of 2026, compared to the same period last year, primarily from higher business service charges and retail overdraft fees. Net gain on sale of loans increased $0.7 million for the second quarter of 2026, compared to the same period last year, due to favorable secondary market conditions resulting in higher sales volumes for both loans and leases. Lease revenue and residual income increased $0.9 million for the second quarter of 2026 compared to the same period last year due to the non-recurring adjustment discussed above. Excluding the non-recurring adjustment, lease revenue and residual income was relatively unchanged year-over-year. Noninterest income totaled $18.4 million, an increase of $4.0 million or 27.6%, when compared to the same period last year. For the six months ended June 30, 2025, noninterest income was reduced by $1.0 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. Service charges increased $0.5 million for the six months ended June 30, 2026, compared to the same period last year, primarily from higher business service charges and retail overdraft fees. Net gain on sale of loans increased $1.7 million for the six months ended June 30, 2026, compared to the same period last year. Secondary market sales volumes increased due to favorable secondary market conditions coupled with disciplined pricing strategies on both the loan and lease gain on sale margins. Lease revenue and residual income increased $0.6 million for the six months ended June 30, 2026, compared to the same period last year, due to the non-recurring adjustment discussed above. Excluding the non-recurring adjustment, lease revenue and residual income was down slightly year-over-year resulting from increased origination volume offset by lower residual income. Other income increased $0.6 million for the six months ended June 30, 2026, compared to the same period last year. Income from the Company's captive insurance subsidiary, CIVB Risk Management, recorded $0.5 million of income in the first quarter of 2026 related to the closure of three claims without payment, resulting in a reduction of ceded reserves. Non-interest Expense Non-interest expense for the second quarter of 2026 totaled $28.7 million, an increase of $1.2 million or 4.3%, when compared to the same period last year. In the second quarter of 2025, noninterest expense was reduced by $0.3 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. These expenses are recorded in equipment expense of $0.1 million and other noninterest expense of $0.2 million. Compensation expense increased $0.7 million for the second quarter of 2026, compared to the same period last year, primarily due to increases in salaries and medical expenses associated with a higher number of full-time equivalent (FTE) employees year-over-year. The quarter-to-date average number of FTE employees was 549 at June 30, 2026, compared with an average number of 526 for the same period in 2025. FDIC assessment decreased $0.3 million for the second quarter of 2026, compared to the same period last year, mainly due to an improvement in Civista's risk-based assessment rate, reflecting favorable trends in regulatory ratios and supervisory metrics used in the FDIC's pricing methodology. Professional fees decreased $0.6 million for the second quarter of 2026, compared to the same period last year, mainly due to utilizing consultants in 2025 to assist in transitioning Civista Leasing and Finance Division to a new core processing system. Amortization of intangibles increased $0.4 million for the second quarter of 2026, compared to the same period last year due to the merger of FSB that closed in November 2025. The efficiency ratio was 58.2% for the quarter ended June 30, 2026, compared to 64.5% for the same period last year. The change in the efficiency ratio is primarily due to a 10.9% increase in net interest income and a 36.7% increase in non-interest income, slightly offset by a 4.3% increase in non-interest expenses. Noninterest expense totaled $58.5 million, an increase of $3.9 million or 7.2%, when compared to the same period last year. For the six months ended June 30, 2026, noninterest expense was increased by $0.4 million from non-recurring adjustments related to acquisition expenses from the merger with FSB that closed in November 2025. These expenses are recorded in other noninterest expenses. For the six months ended June 30, 2025, noninterest expense was reduced by $0.3 million from non-recurring adjustments resulting from the Civista Leasing and Finance Division core system conversion. These expenses are recorded in equipment expense of $0.1 million and other noninterest expense of $0.2 million. Compensation expense increased $2.9 million for the six months ended June 30, 2026, compared to the same period last year, primarily due to increases in salaries and medical expenses associated with a higher number of full-time equivalent (FTE) employees year-over-year. The year-to-date average number of FTE employees was 548 at June 30, 2026, compared with an average number of 523 for the same period in 2025. FDIC assessment decreased $0.7 million for the six months ended June 30, 2026, compared to the same period last year, mainly due to an improvement in Civista's risk-based assessment rate, reflecting favorable trends in regulatory ratios and supervisory metrics used in the FDIC's pricing methodology. Professional fees decreased $1.1 million for the six months ended June 30, 2026, compared to the same period last year, mainly due to utilizing consultants to assist in transitioning Civista Leasing and Finance Division to a new core processing system. Amortization of intangibles increased $0.7 million for the six months ended June 30, 2026, compared to the same period last year due to the merger of FSB that closed in November 2025. The efficiency ratio was 59.1% for the six months ended June 30, 2026, compared to 64.7% for the same period last year. The change in the efficiency ratio is primarily due to a 13.1% increase in net interest income and a 27.6% increase in noninterest income, somewhat offset by a 7.2% increase in noninterest expenses. Taxes Civista's effective income tax rate for the second quarter of 2026 was 16.7% compared to 14.6% for the same period last year. Civista's effective income tax rate for the six months ended June 30, 2026, was 16.7% compared to 14.7% in the same period last year. Capital Total shareholders' equity at June 30, 2026, totaled $566.8 million, an increase of $23.3 million from December 31, 2025. This resulted from an increase of $21.8 million in retained earnings coupled with a decrease in accumulated other comprehensive loss of $0.6 million resulting from the change in the unrealized loss on available-for-sale securities portfolio. Civista did not repurchase any shares in the first six months ended June 30, 2026, as the current repurchase plan is set to expire in April 2027. For the six months ended June 30, 2026, Civista liquidated 14,504 shares held by employees, at an average price of $21.94 per share, to satisfy tax obligations stemming from vesting of restricted shares. Conference Call and WebcastCivista Bancshares, Inc. will also host a conference call to discuss the Company's financial results for the second quarter of 2026 at 1:00 p.m. ET on Thursday, July 23, 2026. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, www.civb.com. Participants can also listen to the conference call by dialing 800-836-8184 and ask to be joined into the Civista Bancshares, Inc. second quarter 2026 earnings call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection. An archive of the webcast will be available for one year on the Investor Relations section of the Company's website (www.civb.com). About Civista BancsharesCivista Bancshares, Inc., is a $4.3 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, and wealth management services. Today, Civista Bank operates 44 locations across Ohio, Southeastern Indiana and Northern Kentucky. Civista Bank also offers commercial equipment leasing services for businesses nationwide through its Civista Leasing and Finance Division. Civista Bancshares' common shares are traded on the NASDAQ Capital Market under the symbol "CIVB". Learn more at www.civb.com. Forward Looking StatementsThis press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of Civista. For these statements, Civista claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Civista, including the information in the filings we make with the Securities and Exchange Commission. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in Civista's reports filed with the Securities and Exchange Commission, including those described in "Item 1A Risk Factors" of Part I of Civista's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and any additional risks identified in the Company's subsequent Form 10-Q's. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Civista does not undertake, and specifically disclaims any obligation, to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law. Non-GAAP Financial MeasuresThis press release and related materials may contain references to measures which are not defined in generally accepted accounting principles ("GAAP"). These financial measures have been included as they provide meaningful supplemental information to assess trends in the Corporation's results of operations. Certain non-GAAP financial measures discussed earlier in this release, including efficiency ratio, net interest margin, tangible book value per share, and related ratios, are identified in the accompanying financial tables. Management believes these measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. 11,3601.46%Time1,100,86519,9193.65%973,20219,9144.13%Short-term FHLB borrowings128,1272,1863.44%384,2248,5324.48%Long-term FHLB borrowings712102.78%1,334172.57%Other borrowings3,6661699.32%6,1502688.78%Subordinated debentures104,2712,2294.31%104,1242,3264.50%Total interest-bearing liabilities$3,010,528$35,9402.41%$3,034,362$42,4172.82%Non-interest-bearing deposits699,256661,382Other liabilities38,42243,174Shareholders' equity557,540398,979Total Liabilities and Shareholders' Equity$4,305,746$4,137,897Net interest income and interest rate spread$76,4163.26%$67,5872.95%Net interest margin ***3.87%3.57% View original content to download multimedia:https://www.prnewswire.com/news-releases/civista-bancshares-inc-announces-second-quarter-2026-net-income-of-14-3-million-up-3-3-million-from-second-quarter-2025--302832590.html

Interested in Civista Bancshares, Inc.? Here are five stocks we like better. Second-quarter profit rose sharply year over year to $14.3 million, or $0.69 per diluted share, as Civista benefited from a higher net interest margin and lower funding costs. Net interest margin expanded to 3.89%, helping lift net interest income and pre-provision net revenue. Loan demand remained solid despite elevated payoffs, with loans and leases growing $25.2 million in the quarter and management reporting $351 million in new organic loan production. Civista expects mid-single-digit loan growth for the rest of the year as pipelines stay strong. Credit quality stayed stable and expenses improved, with the efficiency ratio improving to 58.2% and net charge-offs remaining minimal. The bank also said its allowance for credit losses remained at 1.28% of total loans, while management continues to evaluate capital deployment options, including buybacks and M&A. Civista Bancshares (NASDAQ:CIVB) reported higher second-quarter earnings from a year earlier as net interest margin expanded, funding costs declined and loan production remained solid across its markets, management said on the company’s second-quarter 2026 earnings call. President and Chief Executive Officer Dennis Shaffer said the company earned net income of $14.3 million, or $0.69 per diluted share, for the quarter. That was up $3.3 million, or 30%, from the second quarter of 2025, but down $674,000 from the linked quarter. Pre-provision net revenue increased $5 million, or 36%, from the year-earlier quarter and rose $1.6 million, or 9%, from the first quarter. → Could Truth API Become Trump Media’s First Meaningful Revenue Driver? Shaffer, who said this would be his final earnings call as CEO before Chuck Parcher assumes the role next month, told investors that the first half of 2026 positioned the company for “another good year.” He will remain chairman of the board. Net interest income totaled $38.6 million, up $770,000, or 2%, from the linked quarter. Shaffer attributed the increase to a one-basis-point rise in earning asset yield to 5.67% and a two-basis-point decline in overall funding costs to 1.94%. Net interest margin expanded four basis points to 3.89%. → 3 Photonics Companies Making Quantum Tech Possible The company continued to reduce its use of brokered funding. Shaffer said Civista replaced $150 million of brokered certificates of deposit that matured in late March, which carried a weighted average rate of 3.92%, with $125 million of CDs laddered over nine months at an average rate of 3.80%. Over the past eight quarters, he said, Civista has reduced brokered funding by $276 million, or 44%. In response to an analyst question, Chief Financial Officer Ian Whinnem said that, assuming no rate changes, Civista expects third-quarter margin to be roughly flat, plus or minus one to two basis points, with another one to two basis points of expansion possible in the fourth quarter. He said any expansion would come from the earning asset side, partially offset by higher funding costs. → AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off Total loans and leases grew by $25.2 million during the quarter, an annualized growth rate of 3.1%, despite $68 million in early payoffs. Shaffer said lending teams generated $351 million in new organic loan production in the quarter. Year to date, Civista has generated $565 million in organic loan production and experienced $151 million in payoffs, compared with $405 million of originations and $46 million of payoffs in the first six months of the prior year. Shaffer characterized the payoffs as “good payoffs,” citing successful real estate projects that were sold or moved to the permanent market, as well as some loans to operating companies that were acquired. Undrawn construction lines totaled $250 million at June 30, up from $175 million at March 31 and $161 million at Dec. 31. Management said it expects loan growth at a mid-single-digit rate over the balance of the year. Shaffer said payoffs are expected to subside in the second half, while the company’s pipelines remain robust. At June 30, the residential mortgage pipeline was up 14% and the commercial loan pipeline was up 42% from the prior year. New and renewed commercial loans were originated at an average rate of 6.68% during the quarter, residential real estate loans at 6.32%, and loans and leases from the leasing division at 9.05%. Shaffer said loans, including construction loans secured by office buildings, made up 4.6% of the loan portfolio and were predominantly backed by single- or two-story offices outside central business districts. Non-interest income was $9 million in the quarter, down $424,000 from the first quarter. Shaffer said the decline was primarily tied to $444,000 in other income recognized in the first quarter from claims reserved for by the company’s captive insurance subsidiary that did not materialize. Year to date, non-interest income was $18.4 million, up $4 million, or 27.6%, from the prior-year period. Non-interest expense totaled $28.7 million, down $1.2 million, or 4.1%, from the linked quarter. Shaffer said the decline reflected lower compensation expense, contracted data processing, professional services and equipment expense related to Farmers Savings Bank operational costs, partially offset by merit increases and investments in the company. The efficiency ratio improved to 58.2%, compared with 60.1% in the linked quarter and 64.5% in the prior-year quarter. Whinnem said second-quarter expenses were below the company’s prior guidance and that Civista plans additional investments in revenue-producing employees, marketing and technology. He said expenses are expected to be $29.6 million to $30 million in the third quarter, with the fourth quarter likely around the same level. Total deposits declined $44 million, or 1.2%, during the quarter, including a $25 million reduction in brokered deposits. Shaffer said tax payments by commercial and retail customers and municipal fund collection and distribution also pressured deposit balances, consistent with prior years. Management said Civista remains focused on growing core funding and has grown its core deposit base in six of the last eight quarters while reducing its cost of funds by 71 basis points over that period. Excluding brokered deposits, the cost of deposits increased four basis points from the linked quarter to 1.59% as customers continued moving from lower-rate accounts into higher-rate products. Asked about the funding environment, Shaffer said it remains “very competitive” across commercial, retail and public funds. Parcher added that competition is broad across markets, with some “irrational rates” appearing in nearly every market. Management said Civista plans to reduce brokered deposits by $25 million in each of the next two quarters. Civista recorded a $1.3 million provision to the allowance for loan losses, a $519,000 provision for undrawn construction lines and net charge-offs of $74,000. The ratio of allowance for credit losses to total loans was 1.28% at June 30, consistent with Dec. 31, 2025. Shaffer said credit metrics remain strong and that the economy across Ohio and southeastern Indiana is “showing no signs of deterioration.” Chief Credit Officer Mike said the bank has a few credits it is working through, but they are “appropriately reserved for,” and management does not see systemic issues in the loan book. Shaffer also noted Civista has no non-depository financial institution financing and very little office exposure. Shaffer said return on assets was 1.34% and return on equity was 10.23% for the quarter. Tangible book value per share increased for the seventh consecutive quarter to $20.43. Civista declared a quarterly dividend of $0.18 per share, consistent with the prior quarter, representing a 2.55% yield based on the June 30 closing share price of $28.22 and a payout ratio of 26.14%. On capital deployment, Shaffer said the company has been investing in technology, people and infrastructure, including producers in lending, treasury management and private banking. He said Civista continues to evaluate share repurchases, dividends and M&A, though acquisition activity remains quiet in Ohio and Indiana. Parcher added that management is also analyzing how to handle sub-debt coming due in December. “Our focus continues to be on creating value for our shareholders,” Shaffer said. Civista Bancshares, Inc is a bank holding company headquartered in Saginaw, Michigan, operating through its wholly owned subsidiary, Civista Bank. The company offers a full suite of commercial and retail banking products and services to individuals, small- and mid-sized businesses, governmental entities and nonprofit organizations. Core offerings include deposit accounts, commercial and industrial loans, consumer and residential real estate mortgages, master-planned construction financing and treasury management solutions. Beyond traditional banking, Civista Bancshares provides wealth management, trust and investment advisory services under the Civista Wealth Enterprises brand. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Civista Bancshares Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Civista Bancshares (CIVB) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +2.99%. A quarter ago, it was expected that this bank holding company would post earnings of $0.56 per share when it actually produced earnings of $0.74, delivering a surprise of +32.14%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Civista Bancshares, which belongs to the Zacks Banks - Midwest industry, posted revenues of $47.6 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.52%. This compares to year-ago revenues of $41.4 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Civista Bancshares shares have added about 26.8% since the beginning of the year versus the S&P 500's gain of 9.6%. While Civista Bancshares has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Civista Bancshares was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.71 on $49.15 million in revenues for the coming quarter and $2.82 on $194.15 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, First Business Financial Services (FBIZ), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30. This bank holding company for First Business Bank and First Business Bank-Milwaukee is expected to post quarterly earnings of $1.54 per share in its upcoming report, which represents a year-over-year change of +14.1%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. First Business Financial Services' revenues are expected to be $45.5 million, up 10.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Civista Bancshares, Inc. (CIVB) : Free Stock Analysis Report First Business Financial Services, Inc. (FBIZ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Enterprise Financial Services (EFSC) came out with quarterly earnings of $1.13 per share, missing the Zacks Consensus Estimate of $1.35 per share. This compares to earnings of $1.37 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -16.30%. A quarter ago, it was expected that this financial holding company would post earnings of $1.3 per share when it actually produced earnings of $1.31, delivering a surprise of +0.77%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Enterprise Financial Services, which belongs to the Zacks Banks - Midwest industry, posted revenues of $182.19 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.2%. This compares to year-ago revenues of $173.37 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Enterprise Financial Services shares have added about 23.6% since the beginning of the year versus the S&P 500's gain of 9.7%. While Enterprise Financial Services has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Enterprise Financial Services was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.42 on $191.35 million in revenues for the coming quarter and $5.57 on $760.6 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Midwest is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Civista Bancshares (CIVB), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 23. This bank holding company is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of +1.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Civista Bancshares' revenues are expected to be $47.85 million, up 15.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enterprise Financial Services Corporation (EFSC) : Free Stock Analysis Report Civista Bancshares, Inc. (CIVB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Wall Street expects a year-over-year increase in earnings on higher revenues when Civista Bancshares (CIVB) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This bank holding company is expected to post quarterly earnings of $0.67 per share in its upcoming report, which represents a year-over-year change of +1.5%. Revenues are expected to be $47.85 million, up 15.6% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Civista Bancshares, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.75%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Civista Bancshares will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Civista Bancshares would post earnings of $0.56 per share when it actually produced earnings of $0.74, delivering a surprise of +32.14%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Civista Bancshares doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Banks - Midwest industry, Old National Bancorp (ONB), is soon expected to post earnings of $0.62 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +17%. This quarter's revenue is expected to be $714.7 million, up 9.2% from the year-ago quarter. The consensus EPS estimate for Old National Bancorp has been revised 2.3% lower over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.53%. This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Old National Bancorp will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Civista Bancshares, Inc. (CIVB) : Free Stock Analysis Report Old National Bancorp (ONB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research