Civista Bancshares Delivers Strong Third Quarter Performance
Civista Bancshares, Inc. recently reported its financial results for the third quarter of 2026, showcasing a strong performance across various key metrics.
The company's net income for the period came in at $16 million, or $0.77 per diluted share, representing a significant increase of 26% over the same period in 2025 and 12% compared to the linked quarter.
Civista's President and CEO, Chuck Parcher, highlighted the company's ability to grow non-interest-bearing deposits by $30.3 million during the quarter, with savings and money market accounts increasing by $15.8 million primarily from business and municipal customers.
This success in attracting core funding enabled Civista to reduce its reliance on brokered funding, replacing $150 million of brokered CDs bearing a weighted average rate of 3.89% with $125 million of brokered CDs maturing over the next nine months at an average rate of 4.08%. Over the past nine quarters, the company has reduced its brokered funding by $223 million or 41%.
The return of solid organic loan growth was another significant aspect of Civista's performance during the quarter, with loan balances increasing by $38 million or at an annual growth rate of 4.7%. The lending and leasing teams generated $343 million in new organic production during the period, offset partially by early payoffs and normal principal payments.
As a result of these strong financial performances, Civista's Return on Assets (ROA) and Return on Equity (ROE) for the quarter were 1.48% and 11.21%, respectively. The company also continued to create capital, providing options for its optimal use.
One such option was the repurchase of shares when deemed opportune, with Civista repurchasing 82,075 shares of treasury stock at an average price of $26.96 during the quarter. This led to a healthy tangible common equity ratio of 9.88% compared to 9.54% at December 31st, 2025.
In addition, Civista announced a quarterly dividend of $0.18 per share, consistent with its prior quarter, representing a 2.73% yield and a dividend payout ratio of 24.75%. Non-interest income also increased by $644,000 or 7% over the linked quarter, mirroring the third quarter of 2025.
