CIVISTA BANCSHARES, INC.

Listed Company

CIVBCIK 0000944745NasdaqAcceleratedState Commercial BanksOhioFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$46.21M

Total Assets

$4.34B

Equity

$543.47M

Shares Out

20.74M

Op. Cash Flow

$43.27M

Business

CIVISTA BANCSHARES, INC. is a financial holding company that provides banking and financial services through its subsidiary bank Civista and related subsidiaries. It offers deposit accounts, commercial and consumer loans, residential mortgage origination and sales, trust and wealth management, commercial equipment leasing, insurance agency services, securities portfolio management and captive insurance and property-holding activities. Its principal operating units include Civista Bank, Civista Leasing & Financing (CLF), First Citizens Investments, First Citizens Insurance Agency, CIVB Risk Management and Water Street Properties. The Company serves customers primarily through branch offices across Ohio, select locations in Indiana and Kentucky, loan production offices and digital and nationwide leasing channels.

Summary from filing dated 2025-03-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Loans and leases, including fees	195	184	161	108	93
Taxable securities	15	13	12	9	5
Tax-exempt securities	9	9	9	8	6
Federal funds sold and other	1	1	979,000	1	449,000
Total interest and dividend income	221	207	183	126	105
Deposits	64	66	34	4	4
Federal Home Loan Bank advances	13	18	15	3	1
Subordinated debentures	5	5	5	4	955,000
Securities sold under agreements to repurchase and other	558,000	760,000	4	5	3
Total interest expense	82	90	57	16	—
Net interest income	139	117	125	110	95
Provision for credit losses	3	5	4	2	—
Net interest income after provision for credit losses	135	111	121	108	95
Service charges	6	6	7	7	6
Net gain on sale of securities	0	33,000	0	10,000	2
Net gain (loss) on equity securities	271,000	252,000	−21,000	118,000	186,000
Net gain on sale of loans and leases	4	4	3	3	8
ATM/Interchange fees	6	6	6	5	5
Wealth management fees	6	6	5	5	5
Lease revenue & residual income	6	9	8	2	—
Bank owned life insurance	2	2	1	984,000	1
Tax refund processing fees	0	0	2	2	2
Swap fees	275,000	232,000	673,000	247,000	207,000
Other	3	4	5	2	1
Total noninterest income	34	38	37	29	31
Compensation expense	59	62	58	51	45
Net occupancy expense	6	5	5	5	4
Equipment expense	8	10	11	5	2
Contracted data processing	2	2	2	3	2
FDIC Assessment	3	3	2	797,000	1
State franchise tax	2	2	2	2	2
Professional services	7	6	5	5	3
Amortization of core deposit intangibles	2	1	2	1	890,000
ATM/Interchange expense	3	3	2	2	2
Marketing expense	1	2	1	2	1
Software maintenance expenses	5	5	4	3	3
Other operating expenses	16	12	12	10	12
Total noninterest expense	114	113	108	90	78
Income before income taxes	55	37	51	47	48
Income taxes	9	5	8	8	8
Net income	46	32	43	39	41
Net income available to common shareholders	46	32	43	39	41
Earnings per common share, basic	2.64	2.01	2.73	2.6	2.63
Earnings per common share, diluted	2.64	2.01	2.73	2.6	2.63

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from financial institutions	77	63	60	43	253
Cash and cash equivalents	77	63	60	43	264
Investments in time deposits	1	1	1	1	2
Securities available for sale	682	648	618	615	560
Equity securities	3	2	2	2	1
Loans held for sale	7	665,000	2	683,000	2
Loans and leases, net of allowance for credit losses	3,228	3,042	2,825	—	—
Other securities	26	30	30	34	17
Premises and equipment, net	41	47	57	64	22
Accrued interest receivable	14	13	13	11	7
Goodwill	130	126	126	126	77
Other intangible assets, net	13	8	10	11	8
Bank owned life insurance	63	63	61	54	47
Swap assets	3	5	12	17	12
Deferred taxes	17	22	18	18	980,000
Other assets	30	27	26	23	23
Total assets	4,336	4,098	3,861	3,639	3,013
Noninterest-bearing	702	695	772	896	789
Interest-bearing	2,764	2,517	2,213	1,724	1,628
Total deposits	3,466	3,212	2,985	2,620	2,417
Short-term Federal Home Loan Bank advances	175	339	338	394	—
Long-term Federal Home Loan Bank advances	855,000	2	2	4	75
Securities sold under agreement to repurchase	0	0	0	25	25
Subordinated debentures, net	104	104	104	104	104
Other borrowings	4	6	10	16	—
Swap liabilities	6	12	12	17	11
Accrued expenses and other liabilities	37	36	38	25	26
Total liabilities	3,793	3,710	3,489	3,305	2,658
Common stock, no par value, 40,000,000 shares authorized, 24,607,544 shares issued at December 31, 2025 and 19,340,021 shares issued at December 31, 2024	420	312	311	310	278
Accumulated earnings	240	205	184	156	126
Treasury stock, 3,861,070 common shares at December 31, 2025 and 3,852,354 common shares at December 31, 2024, at cost	−76	−76	−75	−74	−57
Accumulated other comprehensive loss	−40	−53	−48	−58	9
Total shareholders equity	543	389	372	329	355
Total liabilities and shareholders equity	4,336	4,098	3,861	3,639	3,013

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net income	46	32	43	39	41
Time deposits amortization	—	—	7,000	8,000	8,000
Security amortization, net	554,000	962,000	468,000	2	1
Depreciation	8	10	11	4	2
Accretion of net deferred loan fees and purchase discounts	−3	−1	−1	−3	—
Loss (gain) on sale of fixed assets	—	5,000	−82,000	0	0
Net gain on sale of OREO properties	—	−255,000	—	—	—
Net gain on sale of securities	—	−33,000	0	−10,000	−2
Provision for credit losses	3	5	4	2	—
Loans and leases originated for sale	−168	−161	−101	−127	−255
Proceeds from sale of loans and leases	166	167	103	131	268
Net gain on sale of loans and leases	−4	−4	−3	−3	−8
Share-based compensation	852,000	871,000	984,000	819,000	702,000
Deferred taxes	1	−2	−675,000	483,000	1
Accrued interest payable	−5	−7,000	9	302,000	111,000
Accrued interest receivable	−543,000	−634,000	−2	−2	2
Cash collateral posted by derivative counterparties	−4	6	0	0	—
Other, net	2	−3	−2	−20	−152,000
Net cash provided by operating activities	43	48	63	25	41
Maturities	1	490,000	245,000	1	980,000
Purchases	−920,000	−715,000	—	−245,000	−245,000
Maturities, prepayments and calls	87	31	23	49	62
Sales of securities, available for sale	0	3	0	57	2
Purchases of securities, available for sale	−105	−72	−14	−129	−268
Purchases of other securities	−18	−14	−32	−17	—
Redemption of other securities	23	14	36	2	4
Purchases of bank owned life insurance	—	−1	−7	—	—
Proceeds from bank owned life insurance	1	2	320,000	—	535,000
Net change in loans	−83	−221	−314	−315	71
Proceeds from sale of OREO properties	—	316,000	—	—	122,000
Cash received from acquisitions, net	149	—	—	—	—
Premises and equipment purchases	−1	−4	−3	−7	−2
Disposal of premises and equipment	1	4	0	183,000	13,000
Net cash provided by (used) in investing activities	56	−259	−312	−410	−130
Increase (decrease) in deposits	18	227	365	−68	227
Net change in short-term FHLB advances	−164	1	−1	394	—
Repayment of long-term FHLB advances	−646,000	−891,000	−56	−93	−50
Net proceeds from common stock issuance	76	—	—	—	—
Change in other borrowings	−2	−3	−6	−43	—
Increase (decrease) in securities sold under repurchase agreements	—	—	−25	−352,000	−3
Repurchase of common stock	−178,000	−164,000	−2	−17	−22
Cash dividends paid	−12	−10	−10	−8	−8
Net cash (used) provided by financing activities	−85	213	266	164	217
Increase (decrease) in cash and due from financial institutions	14	3	17	−221	127
Interest paid	87	90	48	11	6
Income taxes paid	8	5	10	3	6
Transfer of loans from portfolio to other real estate owned	—	61,000	—	—	72,000
Securities purchased not settled	—	500,000	—	1	4

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