Civista Bancshares, Inc. reported a modest increase in financial performance for the third quarter of 2025, with net income rising to $12.76 million, up from $8.37 million in the same period last year. This translates to earnings per share of $0.68, compared to $0.53 in the prior year. For the nine months ending September 30, 2025, net income reached $33.94 million, a significant increase from $21.79 million in 2024. The company's net interest income also saw an increase, totaling $34.55 million for the quarter, up from $29.23 million a year earlier, driven by higher interest and dividend income from loans and securities.
Total assets for Civista increased to $4.11 billion as of September 30, 2025, compared to $4.10 billion at the end of 2024. This growth was primarily attributed to a $14.18 million increase in net loans, which reached $3.06 billion, and a $6.55 million rise in securities available-for-sale. However, total liabilities decreased by 2.6% to $3.61 billion, largely due to a reduction in short-term Federal Home Loan Bank advances. Total deposits increased slightly by $18.59 million, with notable growth in time deposits, which rose by 28% to $601.76 million.
Strategically, Civista announced a merger agreement with The Farmers Savings Bank, which is expected to close in November 2025. This merger will add two branches in Northeast Ohio and is valued at approximately $66.7 million. Additionally, the company completed a public offering of common shares, raising approximately $75.7 million, which is intended to support organic growth and future strategic transactions.
Operationally, Civista's loan portfolio showed mixed results, with residential real estate loans increasing by 10.3% to $842.36 million, while commercial and agricultural loans decreased by 7.9% to $302.41 million. The company reported a decrease in nonaccrual loans and improved delinquency rates across several categories, indicating a positive trend in credit quality. The allowance for credit losses increased slightly to $40.25 million, reflecting ongoing loan growth and the company's proactive credit risk management.
Looking ahead, Civista remains focused on integrating its recent acquisitions and optimizing its operations to enhance profitability. The company anticipates that the merger with Farmers will provide additional growth opportunities and strengthen its market presence in Ohio. Management is also closely monitoring economic conditions and interest rate trends, which could impact future performance.
About CIVISTA BANCSHARES, INC.
Civista Bancshares, Inc. is a financial holding company primarily engaged in banking through its subsidiary, Civista Bank. It offers a broad range of deposit, loan, trust, and wealth management services across Ohio, Indiana, and Kentucky. The company also operates a nationwide commercial equipment leasing division. Civista focuses on relationship banking, personalized service, and community involvement, serving individuals, businesses, and non-profits with competitive financial products and advisory solutions.
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