Civista Bancshares reports Q2 EPS 71c, consensus 71c

Reports Q2 net interest margin of 3.64% vs. 3.09% last year. Tangible book value per share was $17.48 from $17.04 at previous quarter end. “Our strong Q2 performance highlights continued momentum in net income and EPS,” said CEO Dennis Shaffer. “EPS rose to 71c, up from $0.66 in Q1 and $0.45 a year ago, reflecting the success of our strategic initiatives and our focus on disciplined growth, customer relationships, and long-term shareholder value. The announcement of our partnership with The Farmers Savings Bank marks an exciting step in expanding our presence in Northeast Ohio and reinforcing our foundation with a strong base of core deposits,” said Shaffer. “This, along with our successful $80.5M capital raise earlier this month, positions us well for future growth. We continue to maintain strong credit quality, which reflects the soundness of our underwriting and the strength of our customer relationships. As demand for housing and construction financing grows, we remain focused on providing tailored financial solutions that support the evolving needs of the communities we serve.”