Welcome to our dedicated page for Civista Bancshar news (Ticker: CIVB), a resource for investors and traders seeking the latest updates and insights on Civista Bancshar stock.
Civista Bancshares, Inc. (NASDAQ: CIVB) is a community-focused financial holding company operating through Civista Bank, providing commercial lending, wealth management, and banking services across Ohio and neighboring regions. This news hub offers investors and stakeholders centralized access to official announcements and market-moving updates.
Track critical developments including quarterly earnings reports, regulatory filings, and strategic initiatives shaping Civista's position in regional banking. Our curated feed includes updates on loan portfolio performance, deposit growth strategies, and leadership changes affecting the company's operations.
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Civista Bancshares (NASDAQ: CIVB) has announced the retirement of Todd Michel, Senior Vice President and Controller, effective July 16, 2024. Michel concludes a remarkable 39-year career with the company, having joined in 1985 as a seasonal teller. The company has initiated a search for a permanent replacement. In the interim, Ian Whinnem, Senior Vice President and Chief Financial Officer, will serve as Principal Accounting Officer.
Michel's career progression at Civista included joining the accounting department in 1988 after graduating from Bowling Green State University, being promoted to Vice President and Controller in 1998, and becoming Senior Vice President in 2000.
Civista Bancshares, announced it will release its second quarter 2024 financial results before the market opens on Monday, July 29, 2024.
Following the release, Civista will host a conference call and webcast to discuss the results at 1:00 p.m. ET on the same day. The call can be accessed via telephone at (800) 836-8184 or through a live webcast on the company's website.
An archived version of the webcast will be available shortly after the live session. Civista Bancshares, a $3.9 billion financial holding company headquartered in Sandusky, Ohio, operates 43 locations across Ohio, Indiana, and Kentucky and provides various banking services through its primary subsidiary, Civista Bank.
Civista Bancshares, Inc. named Ian Whinnem as the new Chief Financial Officer, joining on June 3, 2024. With over 25 years of experience in corporate finance in banking, including a senior position at Huntington Bancshares, Inc., Whinnem brings valuable expertise to Civista's executive team. His role will involve overseeing the company's financial functions and contributing to strategic decision-making.
Civista Bancshares, Inc. reported a net income of $6.4 million for the first quarter of 2024, a decrease from $12.9 million in the same period of 2023. The company faced challenges due to the exit from the payment tax refund business and other factors, resulting in a decrease in noninterest income. Net interest income and margin also saw a decline, with interest expense increasing significantly. However, Civista maintained a dividend payout ratio of 42.11% and an annualized yield of 4.16%.
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