Reports Q1 net interest margin 3.51% vs. 3.22% in 1Q24, and 3.36% in 4Q24. Tangible book value per share $17.04 from $16.47 in the previous quarter. “I was extremely pleased with our Q1 earnings and performance. Our focus remains on staying disciplined in our loan and deposit pricing and to grow deposits and deepen customer relationships,”, said Dennis Shaffer, CEO. “Our results highlight the positive impact of our deposit initiatives we launched in the middle of last year. For the third consecutive quarter we grew deposits, which allowed us to reduce our reliance on wholesale funding. In addition, we improved loan yields by 9 basis points and reduced overall funding costs by 11 basis points since Q42024. Our EPS was 66c for the quarter, up from 63c, compared to the linked quarter, and 25c higher than the 41c in Q1 2024. Our strong earnings and the recent increase in our quarterly dividend, reflects our confidence in Civista’s financial strength and our commitment to delivering value to our shareholders. Our credit quality remains strong as we keep supporting and building better relationships with our customers. We are committed to meeting the growing demand for housing and construction financing, making sure we address the needs of our customers and communities. Continuing to focus on these areas, we’ve been able to provide our customers with the financial support they need”.
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