Civista Q1 net income drops 50% to $6.4M; EPS $0.41 vs $0.82 YoY

CIVISTA BANCSHARES, INC.

2024-Q1 EPS reported $0.41 revenue$5,671,000

Net income $6.4M ($0.41 diluted EPS) vs $12.9M ($0.82) in Q1 2023.
Net interest income fell 13.0% to $28.4M; net interest margin narrowed 77 bps to 3.22%.
Noninterest income down 23.2% to $8.5M, driven by exit from tax refund processing ($1.9M loss) and loss of $1.5M MasterCard bonus.
Total deposits flat at $2.98B; noninterest-bearing demand deposits fell 8.3% to $708M.
Provision for credit losses rose to $2.0M from $620K; allowance-to-loans ratio 1.34%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CIVISTA BANCSHARES, INC. reported three-month period ended March 31, 2024 results: net income $6.4 million, EPS $0.41 per diluted share.

Period: three-month period ended March 31, 2024
Net income: $6.4 million
EPS: $0.41 per diluted share
Result: preliminary results

Exact text from the filing

On April 30, 2024, Civista Bancshares, Inc. announced preliminary unaudited earnings for the three-month period ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-123784

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