Civista Bancshares, Inc. Declares Fourth Quarter and 12 months-to-date 2022 Financial Outcomes
SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310SANDUSKY, Ohio, Feb. 7, 2023 /PRNewswire/ — Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) launched its unaudited financial outcomes for the three and twelve month intervals ending December 31, 2022.
Fourth quarter and year-to-date 2022 highlights:
Web earnings of $12.1 million , or $0.77 per diluted share, for the fourth quarter of 2022, compared with $11.0 million , or $0.73 per diluted share, for the fourth quarter of 2021.
, or per diluted share, for the fourth quarter of 2022, compared with , or per diluted share, for the fourth quarter of 2021. Web earnings of $39.4 million , or $2.60 per diluted share, compared with $40.5 million , or $2.63 per diluted share, for the twelve months ended December 31, 2022 and 2021, respectively.
, or per diluted share, compared with , or per diluted share, for the twelve months ended and 2021, respectively. Low worth of deposits of twenty-two basis components and entire funding costs of 102 basis components for the quarter.
Primarily based totally on the December 31, 2022 market shut share value of $22.01 , the $0.14 fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%.
market shut share value of , the fourth quarter dividend is the same as an annualized yield of two.54% and a dividend payout ratio of 18.18%. On July 1, 2022 , we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment.
, we consummated the merger of Comunibanc Corp. with and into Civista and Henry County Monetary establishment (“HCB”), a totally owned subsidiary of Comunibanc, with and into Civista Monetary establishment. On October 3, 2022 , we consummated the merger of Imaginative and prescient Financial Group (“VFG”), a leasing and finance agency based totally in Pittsburgh, PA , with and into Civista Monetary establishment.
“We’re terribly pleased with our fourth quarter outcomes. Attributable to our sturdy core funding, our disciplined methodology to pricing deposits and the rising fee of curiosity ambiance, we had one different quarter of net curiosity margin enlargement. Our net curiosity margin improved 11 basis components over the linked quarter to 4.14%. In addition to, mortgage progress for the quarter was sturdy and loans, distinctive of our VFG acquisition, grew by $151 million or at an annualized payment of 26%”, talked about Dennis G. Shaffer, CEO and President of Civista.
Outcomes of Operations:
For the three-month intervals ended December 31, 2022 and 2021
Web curiosity earnings elevated $9.2 million, or 39.6%, for the fourth quarter of 2022 compared with the an identical interval of 2021. Curiosity earnings elevated $13.3 million whereas curiosity expense elevated $4.0 million. Every will improve have been primarily attributable to will improve in expenses. Accretion of PPP expenses was $38 thousand by means of the fourth quarter 2022 compared with $1.6 million for the same interval in 2021.
Web curiosity margin elevated 72 basis components to 4.14% for the fourth quarter of 2022, compared with 3.42% for the same interval a 12 months previously. The rise in margin is primarily attributable to will improve inside the amount of incomes belongings and to the yield on incomes belongings.
The rise in curiosity earnings was primarily attributable to a $326.0 million improve in widespread incomes belongings, which led to a $7.1 million improve in curiosity earnings. Furthermore, elevated charges of curiosity led to a 118 basis degree improve in asset yield and a $6.2 million improve in curiosity earnings.
Curiosity expense elevated $4.0 million, or 284.2%, for the fourth quarter of 2022, compared with the an identical interval closing 12 months. The widespread payment paid on interest-bearing liabilities elevated 70 basis components, whereas widespread interest-bearing liabilities elevated $343.1 million. The rise in interest-bearing liabilities was primarily in short-term borrowings to fund progress. The rise inside the funding payment is primarily due to the issuance of $75 million, 3.25% subordinated debt in November 2021. Curiosity-bearing deposit costs have elevated 21 basis components compared with a 12 months previously.
Frequent Stability Analysis (Unaudited – {{Dollars}} in tons of)
Three Months Ended December 31,
2022
2021
Frequent
Yield/
Frequent
Yield/ Belongings: steadiness Charge of curiosity *
steadiness Charge of curiosity * Curiosity-earning belongings:
Loans ** $ 2,458,980 $ 33,086 5.34 %
$ 1,973,989 $ 21,430 4.31 % Taxable securities *** 365,258 2,692 2.61 %
285,734 1,545 2.17 % Non-taxable securities *** 264,869 2,190 3.65 %
236,324 1,651 3.76 % Curiosity-bearing deposits in several banks 10,394 22 0.84 %
277,451 108 0.15 % Complete interest-earning belongings *** $ 3,099,501 37,990 4.81 %
$ 2,773,498 24,734 3.63 % Noninterest-earning belongings:
Cash and due from financial institutions 16,435
28,401
Premises and instruments, net 64,952
22,734
Accrued curiosity receivable 10,385
7,609
Intangible belongings 132,516
84,541
Monetary establishment owned life insurance coverage protection 53,378
46,807
Totally different belongings 67,557
33,315
A lot much less allowance for mortgage losses (28,025)
(26,595)
Complete Belongings $ 3,416,699
$ 2,970,310