Civista Bancshares reports Q3 EPS 68c, consensus 59c

Reports Q3 net interest margin – tax equivalent – of 3.58% vs. 3.16% for 3Q24. Tangible book value per share was $18.99 from $17.48 last quarter. Tier 1 leverage ratio was 10.96% from 8.80% last quarter. “Our Q3 results demonstrate strong momentum, with net income rising 53% to $12.8 million from $8.4 million a year ago, and earnings per share increasing 28% to $0.68 from $0.53,” said Dennis Shaffer, CEO. “These gains reflect the effectiveness of our disciplined growth strategy and the strength of our customer relationships. We’ve received regulatory approval for our partnership with The Farmers Savings Bank, which is expected to close in November. This milestone-combined with our recent $80.5 million capital raise-will significantly expand our presence in Northeast Ohio, enhance liquidity, and serve as a strong foundation for accelerated growth. Our credit quality remains strong and stable, reflecting the rigor of our underwriting and the enduring strength of our customer relationships. Despite ongoing economic pressures, our disciplined approach continues to serve us well, positioning Civista to navigate challenges and grow organically with confidence. We remain committed to delivering tailored financial solutions that support the evolving needs of the communities we serve.”