secwatch.observer — SEC 8-K summary
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Issuer:     CIVISTA BANCSHARES, INC. (CIVB)
CIK:        0000944745
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001193125-24-123784
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944745/000119312524123784/0001193125-24-123784-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944745/000119312524123784/d806092d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-123784

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