Civista Bancshares, Inc. reports news centered on community banking, balance-sheet performance, dividends and corporate governance for its NASDAQ-listed common stock. The financial holding company operates through Civista Bank, which provides full-service banking, commercial lending, mortgage and wealth management services across Ohio, Southeastern Indiana and Northern Kentucky.
Recurring updates include quarterly earnings releases, net interest income and margin trends, loan and deposit mix, brokered deposits, FHLB advances, and common dividend declarations. Company news also covers the completed Farmers Savings Bank merger into Civista Bank, integration of acquired branches and customers, Civista Leasing & Finance commercial equipment leasing activity, investor presentations, and changes in board or officer roles.
Civista Bancshares (CIVB) reported a net income of $11.0 million, or $0.73 per diluted share for Q4 2021, up from $10.2 million or $0.64 per diluted share in Q4 2020. Year-to-date, net income increased to $40.5 million, or $2.63 per diluted share. COVID-19 loan deferrals dropped to 0.26% of total loans. The company initiated a $100 million investment securities redeployment and raised $75 million through a subordinated debt issuance. A merger with Comunibanc Corp. was also announced, aimed at expanding its presence in Northwest Ohio.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced that it will release its fourth quarter 2021 financial results on February 4, 2022, prior to market opening. A conference call will be held the same day at 1:00 p.m. ET for a discussion of the results, with analysts invited to participate in a Q&A session. Civista is a $3.0 billion financial holding company based in Sandusky, Ohio, operating 35 locations across Ohio, Indiana, and Kentucky. The company may issue forward-looking statements regarding its financial performance and strategies.
Civista Bancshares (CIVB) has signed a definitive merger agreement to acquire Comunibanc Corp. (CBCZ) for approximately $50.2 million. The acquisition will add 7 branches and $276 million in deposits, enhancing Civista's presence in Northwest Ohio, a growing market. As of September 30, 2021, the combined entity will have total assets of around $3.3 billion and total deposits of approximately $2.7 billion. The merger is expected to be accretive to Civista's earnings per share in 2023 and will maintain strong capital ratios post-closing.
Civista Bancshares, Inc. (NASDAQ: CIVB), based in Sandusky, Ohio, has successfully completed a private placement of $75 million in 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The initial interest rate of 3.25% will apply until December 1, 2026, after which it will transition to a floating rate based on the three-month SOFR plus 219 basis points. These notes qualify as Tier 2 capital for regulatory purposes. Proceeds will support general corporate needs, including growth and potential acquisitions. The notes are non-redeemable by holders and were facilitated by several placement agents.
Civista Bancshares, Inc. (CIVB) reported strong financial results for Q3 and the nine months ending September 30, 2021. Net income rose to $9.6 million ($0.64 per share) in Q3, up from $7.7 million ($0.48 per share) in 2020. Year-to-date net income reached $29.6 million ($1.90 per share), compared to $22.0 million ($1.36 per share) last year. The bank saw a decrease in COVID-19 loan deferrals to 0.9% of total loans and an increase in net interest income by 11%. A quarterly dividend of $0.14 was declared, yielding 2.41% based on the market close. Total assets grew to $2.95 billion.
Civista Bancshares, Inc. (NASDAQ:CIVB) has announced a quarterly dividend of 14 cents per common share, with shareholders on record as of October 19, 2021. This dividend will be payable on November 1, 2021, amounting to approximately $2.1 million. Based on the closing stock price of $24.89 on October 6, 2021, the annualized yield from this dividend is 2.25%.
Civista Bancshares operates as a financial holding company with a total asset value of $2.9 billion, providing banking services across several regions.
Civista Bancshares, Inc. (NASDAQ: CIVB) announced that it will release its third quarter 2021 financial results on October 27, 2021, prior to market open. Following the release, the company will hold a conference call and webcast at 1:00 p.m. Eastern Time for analysts and investors to discuss the results. Civista, a $2.9 billion financial holding company, operates 35 banking locations across Ohio, Indiana, and Kentucky. The information will be available for replay on their website after the call.
Civista Bancshares (NASDAQ:CIVB) has announced a new share repurchase program, authorizing the buyback of up to $13.5 million in common shares. This replaces a prior program that nearly utilized its $12.8 million limit. The program aims to enhance shareholder value, though the timing and amount of repurchases will depend on various factors, including stock performance and market conditions. The initiative will run until August 10, 2022.
Civista Bancshares reported robust financial results for Q2 2021, netting $9.2 million or $0.59 per diluted share, up from $6.5 million or $0.41 a year earlier. Year-to-date net income reached $19.9 million, or $1.27 per diluted share, compared to $14.3 million, or $0.88 in 2020. A balance sheet restructuring included prepaying a $50 million FHLB advance, incurring a $3.7 million penalty. The bank's COVID-19 loan deferrals significantly fell to 2.5%. A quarterly dividend of $0.12 was declared, reflecting a 2.17% yield and 17% increase for Q3.
Civista Bancshares, Inc. (CIVB) has declared a quarterly dividend of 14 cents per share, set for shareholders of record on July 20, 2021, and payable on August 2, 2021. This payout totals approximately $2.1 million and represents an annualized yield of 2.55% based on the closing stock price of $21.92 on July 7, 2021. Civista is a financial holding company with assets of $3.1 billion, operating 37 banking locations across Ohio and Indiana.