$CIVB

CIVISTA BANCSHARES, INC.

CIK:0000944745|SEC Filings

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income
Loans, including fees	$ 49,887	$ 49,972	$ 99,117	$ 97,618
Taxable securities	3,908	3,751	7,862	7,306
Tax-exempt securities	2,278	2,338	4,581	4,678
Deposits in other banks	474	210	796	402
Total interest and dividend income	56,547	56,271	112,356	110,004
Interest expense
Deposits	15,894	15,558	31,347	31,274
Federal Home Loan Bank advances	843	4,611	2,196	8,549
Subordinated debentures	1,120	1,165	2,228	2,326
Other borrowings	97	123	169	268
Total interest expense	17,954	21,457	35,940	42,417
Net interest income	38,593	34,814	76,416	67,587
Provision for credit losses - loans and leases	1,251	1,171	483	2,419
Provision for (recovery of) credit losses - off-balance sheet credit exposures	519	(146)	658	173
Net interest income after provision	36,823	33,789	75,275	64,995
Noninterest income
Service charges	1,889	1,564	3,603	3,088
Net gain (loss) on equity securities	140	(74)	173	(103)
Net gain on sale of loans and leases	1,501	841	3,106	1,445
ATM/Interchange fees	1,555	1,418	2,941	2,744
Wealth management fees	1,459	1,325	2,892	2,665
Lease revenue and residual income	1,404	525	3,034	2,421
Bank owned life insurance	399	386	789	773
Swap fees	3	53	59	125
Other	657	551	1,841	1,291
Total noninterest income	9,007	6,589	18,438	14,449
Noninterest expense
Compensation expense	15,737	15,011	31,966	29,054
Net occupancy expense	1,583	1,419	3,206	3,053
Contracted data processing	582	536	1,312	1,103
FDIC Assessment	420	689	843	1,562
State franchise tax	599	634	1,153	1,160
Professional services	1,221	1,798	2,806	3,888
Equipment expense	1,720	1,764	3,809	3,867
ATM/Interchange expense	743	683	1,475	1,263
Marketing	542	289	1,020	585
Amortization of core deposit intangible assets	696	338	1,392	670
Software maintenance expense	1,235	1,294	2,710	2,571
Other operating expenses	3,575	3,027	6,834	5,832
Total noninterest expense	28,653	27,482	58,526	54,608
Income before taxes	17,177	12,896	35,187	24,836
Income tax expense	2,862	1,881	5,883	3,653
Net Income	$ 14,315	$ 11,015	$ 29,304	$ 21,183
Earnings per common share, basic	$ 0.69	$ 0.71	$ 1.41	$ 1.37
Earnings per common share, diluted	$ 0.69	$ 0.71	$ 1.41	$ 1.37

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Net cash provided by operating activities	$ 29,286,000	$ 14,693,000
Cash flows used for investing activities:
Investments in time deposits, Maturities	245,000	735,000
Investments in time deposits, Purchases	(3,205,000)
Securities available for sale, Maturities, prepayments, and calls	61,779,000	50,133,000
Securities available for sale, Sales	0	0
Securities available for sale, Purchases	(45,952,000)	(46,076,000)
Purchase of other securities	(18,015,000)	(9,767,000)
Redemption of other securities	15,000,000	3,924,000
Net change in loans	14,500,000	(75,559,000)
Proceeds from sale of premises and equipment		913,000
Disposal of premises and equipment	396,000
Purchases of premises and equipment	(836,000)	(381,000)
Net cash provided/(used) for investing activities	23,912,000	(76,078,000)
Cash flows from financing activities:
Repayment of long-term FHLB advances	(294,000)	(398,000)
Net change in short-term FHLB advances	(51,500,000)	94,500,000
Repayment of other borrowings	(969,000)	(914,000)
Decrease in deposits	(8,221,000)	(15,663,000)
Purchase of treasury shares	(318,000)	(167,000)
Common stock dividends paid	(7,473,000)	(5,270,000)
Net cash (used)/provided by financing activities	(68,775,000)	72,088,000
Increase in cash and cash equivalents	(15,577,000)	10,703,000
Cash and cash equivalents at beginning of period	77,320,000	63,155,000
Cash and cash equivalents at end of period	61,743,000	73,858,000
Cash paid during the period for:
Interest	38,242,000	43,399,000
Income taxes	$ 2,620,000	4,787,000
Supplemental cash flow information:
Transfer of loans from portfolio to other real estate owned		$ 209,000

Consolidated Balance Sheets - USD ($)
$ in Thousands

Jun. 30, 2026

Dec. 31, 2025

ASSETS

Cash and due from financial institutions

$ 61,743

$ 77,320

Investments in time deposits

4,125

1,165

Securities available-for-sale

^[1]

667,314

681,908

Equity securities

2,865

2,692

Loans held for sale

8,508

7,180

Loans, net of allowance for credit losses of $41,713 and $42,020

3,213,191

3,228,026

Other securities

28,957

25,942

Premises and equipment, net

37,417

40,611

Accrued interest receivable

14,849

14,436

Goodwill

130,438

Other intangible assets, net

11,579

13,100

Bank owned life insurance

63,942

63,153

Swap assets

2,352

3,494

Deferred taxes

16,049

16,501

Other assets

30,969

30,487

Total assets

4,294,298

4,336,453

Deposits

Noninterest-bearing

695,142

702,032

Interest-bearing

2,763,101

2,764,432

Total deposits

3,458,243

3,466,464

Short-term Federal Home Loan Bank advances

123,500

175,000

Long-term Federal Home Loan Bank advances

561

855

Subordinated debentures

104,317

104,234

Other borrowings

3,121

4,090

Swap liabilities

6,584

5,748

Accrued expenses and other liabilities

31,187

36,588

Total liabilities

3,727,513

3,792,979

SHAREHOLDERS’ EQUITY

Common shares, no par value, 40,000,000 shares authorized, 24,669,812 shares issued at June 30, 2026 and 24,607,544 shares issued at December 31, 2025, including Treasury shares

420,922

419,769

Retained earnings

261,615

239,784

Treasury shares, 3,875,574 common shares at June 30, 2026 and 3,861,070 common shares at December 31, 2025, at cost

(76,082)

(75,764)

Accumulated other comprehensive loss

(39,670)

(40,315)

Total shareholders’ equity

566,785

543,474

Total liabilities and shareholders’ equity

$ 4,294,298

$ 4,336,453

[1]	Excludes accrued interest receivable on securities of $4,288 and $4,371 at June 30, 2026 and December 31, 2025, respectively, that is recorded in Accrued interest receivable on the Consolidated Balance Sheets.