secwatch.observer — SEC 8-K summary
======================================

Issuer:     CIVISTA BANCSHARES, INC. (CIVB)
CIK:        0000944745
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001193125-23-264518
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944745/000119312523264518/0001193125-23-264518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944745/000119312523264518/d576026d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-264518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer