Civista Q3 net income $10.4M ($0.66 EPS); exits tax refund business

CIVISTA BANCSHARES, INC.

2023-Q3 EPS reported $2.12 revenue$19,129,000

Net income $10.4M ($0.66 diluted EPS) vs $11.1M ($0.72) a year ago; YTD net income up 22% to $33.3M ($2.12).
Loans grew $118.6M (18% annualized); net interest margin fell to 3.69% from 4.03% YoY on higher funding costs.
Stepping away from income tax refund processing program for 2024; program generated $2.4M annual income with minimal direct costs.
Cost of deposits 129 bps; total funding cost 172 bps; net interest income up 3.5% to $31.5M.
Repurchased 84,230 shares for $1.5M YTD; $12.0M remaining under $13.5M authorization.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

CIVISTA BANCSHARES, INC. reported preliminary financial results for three and nine-month periods ended September 30, 2023.

Period: three and nine-month periods ended September 30, 2023
Result: preliminary results

Exact text from the filing

On October 27, 2023, Civista Bancshares, Inc. announced preliminary unaudited earnings for the three and nine-month periods ended September 30, 2023.

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35 earnings releases filed in the last 30 days. Browse all earnings releases →

CIVISTA BANCSHARES, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-264518

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