CIVB · Civista Bancshares, Inc.

Civista Bancshares delivered a strong first quarter in 2026, with net income rising 47% year-over-year to $15.0 million, or $0.72 per diluted share. The results were bolstered by the inclusion of The Farmers Savings Bank (FSB) merger, which closed in November 2025, and the successful completion of its system conversion during the quarter. While the quarter included $0.4 million in non-recurring acquisition-related expenses that negatively impacted net income by $0.02 per share, core operational performance showed significant improvement. Net interest margin expanded 34 basis points year-over-year to 3.85%, driven by a disciplined reduction in higher-cost funding sources, including brokered deposits and short-term FHLB advances. This strategic shift lowered the cost of funds to 196 basis points from 231 basis points in the prior year. The efficiency ratio improved to 60.1% from 64.9%, reflecting disciplined expense management alongside revenue growth. Credit quality remained stable, with non-performing assets decreasing slightly to $30.2 million and the allowance for credit losses to loans ratio at 1.26%. Capital strength continued, with tangible book value per share reaching $19.70, and the company returned capital to shareholders through a increased quarterly dividend of $0.18 per share. Management highlighted a focus on optimizing the funding mix and disciplined growth as key drivers for navigating the current economic environment.