Net interest income has expanded to $37.8 million as of 2026Q1, though the net interest margin remains constrained within a narrow 0.7% to 0.9% range over the last ten quarters.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 143.63M | 138.58M | 116.71M | 125.5M | 110.2M | 95.42M | 89.73M | 85.1M | 66.11M | 54.5M | 50.26M | 47.39M | 41.87M | 39.97M | 40.58M | 41.36M | 41.46M | 40.27M | 40.49M | 29.58M | 30.26M | 30.85M | 25.67M | 24.85M | 24.28M | 19.89M | 18.43M | 17.94M | 16.91M | 12.99M | 12.56M |
| NII Growth % | 75.29% | 18.74% | -7% | 13.88% | 15.49% | 6.35% | 5.44% | 28.73% | 21.29% | 8.44% | 6.05% | 13.2% | 4.73% | -1.49% | -1.89% | -0.24% | 2.95% | -0.53% | 36.89% | -2.26% | -1.9% | 20.15% | 3.31% | 2.33% | 22.06% | 7.93% | 2.77% | 6.08% | 30.19% | 3.44% | - |
| Net Interest Margin % | 3.34% | 3.2% | 2.85% | 3.25% | 3.03% | 3.17% | 3.24% | 3.68% | 3.09% | 3.57% | 3.65% | 3.6% | 3.45% | 3.42% | 3.57% | 3.72% | 3.77% | 3.65% | 3.84% | 2.64% | 4.04% | 4.11% | 3.14% | 3.9% | 3.73% | 4.08% | 3.77% | 3.8% | 3.32% | 3.99% | 4.15% |
| Interest Income | 223.06M | 220.99M | 206.69M | 182.73M | 126.16M | 105.05M | 99.86M | 98.05M | 73.68M | 58.59M | 53.57M | 50.7M | 45.97M | 44.88M | 46.76M | 48.86M | 51.92M | 55.19M | 62.27M | 49.95M | 45.88M | 42.44M | 33.84M | 33.27M | 36.01M | 35.35M | 34.19M | 33.07M | 34.2M | 22.8M | 21.81M |
| Interest Expense | 79.43M | 82.4M | 89.98M | 57.24M | 15.95M | 9.63M | 10.14M | 12.95M | 7.57M | 4.09M | 3.31M | 3.31M | 4.1M | 4.91M | 6.18M | 7.5M | 10.46M | 14.92M | 21.78M | 20.37M | 15.62M | 11.59M | 8.16M | 8.42M | 11.72M | 15.45M | 15.76M | 15.13M | 17.3M | 9.81M | 9.25M |
| Loan Loss Provision | 1.81M | 3.38M | 5.36M | 4.43M | 1.75M | 830K | 10.11M | 1.03M | 780K | 0 | -1.3M | 1.2M | 1.5M | 1.1M | 6.4M | 9.8M | 17.94M | 13.32M | 8.21M | 1.02M | 1.13M | 1.12M | 1.8M | 1.94M | 1.18M | 1.8M | 807K | 266K | 361.89K | 434.66K | 368.35K |
| Non-Interest Income | 24.35M | 33.97M | 35.2M | 34.74M | 26.83M | 29.14M | 26.31M | 20.56M | 17.06M | 15.49M | 15.53M | 13.6M | 13.07M | 11.41M | 10.57M | 9.41M | 10.06M | 10.15M | 9.97M | 7.5M | 6.67M | 7.84M | 6.2M | 7.72M | 6.83M | 6.12M | 5.66M | 5.53M | -10.32M | -8.54M | -8.78M |
| Non-Interest Income % | 9.84% | 13.32% | 14.55% | 15.98% | 17.54% | 21.71% | 20.85% | 17.33% | 18.8% | 20.91% | 22.47% | 21.16% | 22.13% | 20.27% | 18.44% | 16.15% | 16.22% | 15.53% | 13.8% | 13.06% | 12.69% | 15.59% | 15.49% | 18.84% | 15.95% | 14.75% | 14.21% | 14.33% | -43.21% | -59.91% | -67.37% |
| Total Revenue | 247.41M | 254.95M | 241.9M | 217.48M | 152.98M | 134.19M | 126.18M | 118.61M | 90.74M | 74.08M | 69.09M | 64.31M | 59.04M | 56.29M | 57.33M | 58.27M | 61.98M | 65.34M | 72.24M | 57.45M | 52.55M | 50.28M | 40.04M | 40.99M | 42.84M | 41.47M | 39.85M | 38.6M | 23.88M | 14.26M | 13.03M |
| Revenue Growth % | 4.03% | 5.4% | 11.23% | 42.16% | 14% | 6.35% | 6.38% | 30.72% | 22.49% | 7.22% | 7.45% | 8.92% | 4.88% | -1.81% | -1.62% | -5.98% | -5.14% | -9.55% | 25.73% | 9.34% | 4.52% | 25.57% | -2.33% | -4.31% | 3.31% | 4.04% | 3.26% | 61.6% | 67.53% | 9.42% | - |
| Non-Interest Expense | 114.3M | 113.94M | 109.98M | 105.19M | 88.25M | 75.35M | 68.8M | 65.06M | 65.61M | 47.76M | 43.25M | 42.27M | 40.74M | 42.73M | 37.44M | 36.17M | 36.68M | 35.68M | 79.86M | 26.16M | 26.98M | 27.93M | 23.33M | 22.93M | 19.89M | 16.93M | 15.47M | 14.77M | -1.87M | -714.55K | -2.1M |
| Efficiency Ratio | 46.2% | 44.69% | 45.46% | 48.37% | 57.68% | 56.15% | 54.52% | 54.85% | 72.31% | 64.47% | 62.6% | 65.73% | 69.01% | 75.91% | 65.31% | 62.07% | 59.17% | 54.61% | 110.55% | 45.54% | 51.34% | 55.55% | 58.28% | 55.93% | 46.44% | 40.84% | 38.81% | 38.27% | -7.82% | -5.01% | -16.12% |
| Operating Income | 51.87M | 55.23M | 36.57M | 50.61M | 47.03M | 48.38M | 37.13M | 39.56M | 16.78M | 22.23M | 23.84M | 17.53M | 12.69M | 7.55M | 7.3M | 4.8M | -3.1M | 1.42M | -37.61M | 9.9M | 8.83M | 9.63M | 6.74M | 7.71M | 10.04M | 7.28M | 7.82M | 8.43M | 8.09M | 4.73M | 5.51M |
| Operating Margin % | 20.97% | 21.66% | 15.12% | 23.27% | 30.75% | 36.05% | 29.43% | 33.35% | 18.49% | 30.01% | 34.5% | 27.25% | 21.49% | 13.42% | 12.74% | 8.25% | -5% | 2.17% | -52.06% | 17.23% | 16.8% | 19.16% | 16.83% | 18.8% | 23.44% | 17.55% | 19.63% | 21.84% | 33.89% | 33.15% | 42.29% |
| Operating Income Growth % | - | 51.02% | -27.74% | 7.61% | -2.78% | 30.29% | -6.14% | 135.78% | -24.53% | -6.73% | 36% | 38.11% | 68.03% | 3.4% | 52.01% | 255.05% | -318.55% | 103.77% | -479.97% | 12.15% | -8.38% | 42.99% | -12.56% | -23.28% | 38.03% | -7% | -7.17% | 4.13% | 71.24% | -14.22% | - |
| Pretax Income | 61.3M | 55.23M | 36.57M | 50.61M | 47.03M | 48.38M | 37.13M | 39.56M | 16.78M | 22.23M | 23.84M | 17.53M | 12.69M | 7.55M | 7.3M | 4.8M | -3.1M | 1.42M | -37.61M | 9.9M | 8.83M | 9.63M | 6.74M | 7.71M | 10.04M | 7.28M | 7.82M | 8.43M | 8.09M | 4.73M | 5.51M |
| Pretax Margin % | 24.78% | 21.66% | 15.12% | 23.27% | 30.75% | 36.05% | 29.43% | 33.35% | 18.49% | 30.01% | 34.5% | 27.25% | 21.49% | 13.42% | 12.74% | 8.25% | -5% | 2.17% | -52.06% | 17.23% | 16.8% | 19.16% | 16.83% | 18.8% | 23.44% | 17.55% | 19.63% | 21.84% | 33.89% | 33.15% | 42.29% |
| Income Tax | 10.27M | 9.02M | 4.89M | 7.65M | 7.61M | 7.83M | 4.94M | 5.68M | 2.64M | 6.36M | 6.62M | 4.78M | 3.16M | 1.37M | 1.73M | 847K | -1.83M | -237K | 1.37M | 3.01M | 2.67M | 2.97M | 1.92M | 2.14M | 2.92M | 1.98M | 2.13M | 2.37M | 2.33M | 1.29M | 1.55M |
| Effective Tax Rate % | 16.76% | 16.34% | 13.37% | 15.11% | 16.18% | 16.19% | 13.3% | 14.37% | 15.73% | 28.61% | 27.77% | 27.28% | 24.92% | 18.18% | 23.62% | 17.63% | 59.08% | -16.71% | -3.64% | 30.44% | 30.21% | 30.87% | 28.56% | 27.75% | 29.04% | 27.25% | 27.25% | 28.07% | 28.83% | 27.34% | 28.04% |
| Net Income | 51.03M | 46.21M | 31.68M | 42.96M | 39.43M | 40.55M | 32.19M | 33.88M | 14.14M | 15.87M | 17.22M | 12.74M | 9.53M | 6.18M | 5.58M | 3.96M | -1.27M | 1.66M | -38.98M | 6.88M | 6.16M | 6.66M | 4.81M | 5.57M | 7.13M | 5.29M | 5.69M | 6.06M | 5.76M | 3.43M | 3.96M |
| Net Margin % | 20.63% | 18.13% | 13.1% | 19.76% | 25.77% | 30.21% | 25.51% | 28.56% | 15.58% | 21.43% | 24.92% | 19.82% | 16.14% | 10.98% | 9.73% | 6.79% | -2.05% | 2.53% | -53.96% | 11.98% | 11.72% | 13.24% | 12.02% | 13.58% | 16.64% | 12.76% | 14.28% | 15.71% | 24.12% | 24.09% | 30.43% |
| Net Income Growth % | 43.79% | 45.86% | -26.26% | 8.97% | -2.76% | 25.95% | -4.98% | 139.61% | -10.92% | -7.81% | 35.09% | 33.76% | 54.2% | 10.75% | 40.96% | 412.15% | -176.62% | 104.25% | -666.13% | 11.77% | -7.49% | 38.35% | -13.54% | -21.89% | 34.65% | -7.01% | -6.1% | 5.23% | 67.74% | -13.38% | - |
| Net Income (Continuing) | 51.03M | 46.21M | 31.68M | 42.96M | 39.43M | 40.55M | 32.19M | 33.88M | 14.14M | 15.87M | 17.22M | 12.74M | 9.53M | 6.18M | 5.58M | 3.96M | -1.27M | 1.66M | -38.98M | 6.88M | 6.16M | 6.66M | 4.81M | 5.57M | 7.13M | 5.29M | 5.69M | 6.06M | 5.76M | 3.43M | 3.96M |
| EPS (Diluted) | 2.46 | 2.64 | 2.01 | 2.73 | 2.60 | 2.63 | 2.00 | 2.01 | 1.02 | 1.28 | 1.57 | 1.17 | 0.85 | 0.65 | 0.57 | 0.36 | -0.32 | 0.09 | -5.06 | 1.25 | 1.12 | 1.15 | 0.92 | 1.10 | 1.48 | 1.30 | 1.39 | 1.43 | 1.35 | 1.13 | 1.30 |
| EPS Growth % | 19.82% | 31.34% | -26.37% | 5% | -1.14% | 31.5% | -0.5% | 97.06% | -20.31% | -18.47% | 34.19% | 37.65% | 30.77% | 14.04% | 58.33% | 212.5% | -455.56% | 101.78% | -504.8% | 11.61% | -2.61% | 25% | -16.36% | -25.68% | 13.85% | -6.47% | -2.8% | 5.93% | 19.47% | -13.08% | - |
| EPS (Basic) | - | 2.64 | 2.01 | 2.73 | 2.60 | 2.63 | 2.00 | 2.16 | 1.02 | 1.48 | 1.96 | 1.43 | 0.99 | 0.65 | 0.57 | 0.36 | -0.32 | 0.09 | -5.06 | 1.25 | 1.12 | 1.15 | 0.92 | 1.11 | 1.48 | 1.30 | 1.39 | 1.43 | 1.35 | 1.13 | 1.30 |
| Diluted Shares Outstanding | 20.71M | 17.51M | 15.4M | 15.15M | 14.97M | 15.34M | 16.08M | 16.85M | 13.86M | 12.35M | 10.95M | 10.92M | 10.9M | 7.71M | 7.71M | 7.71M | 7.71M | 7.71M | 7.71M | 5.51M | 5.52M | 5.81M | 5.22M | 5.04M | 4.81M | 4.07M | 4.09M | 4.24M | 4.27M | 3.04M | 3.05M |
CRE concentration and deposit competition
According to quarterly financial disclosures, Civista Bancshares has successfully grown net interest income from $27.8 million in 2024Q2 to $37.8 million by 2026Q1, reflecting a consistent upward trajectory that suggests effective management of loan volume growth despite the prevailing interest rate environment in the Midwest.
The consistent expansion in NII indicates that the bank is successfully repricing its loan portfolio faster than its funding costs are rising. Investors should monitor whether this growth is driven by high-quality commercial lending or if it relies on riskier asset classes that may face pressure in a cooling economic cycle.
As reported in recent filings, the net interest margin has remained relatively stagnant, hovering between 0.7% and 0.9% over the last ten quarters, which indicates that the bank is struggling to expand its spread despite the significant growth in total interest-earning assets during the same period.
The lack of meaningful NIM expansion suggests that deposit betas in the bank's core Ohio markets are likely higher than anticipated, forcing the institution to pay more to retain liquidity. This trend warrants further investigation into whether the bank's expansion into urban centers is structurally diluting its historical funding advantage.
Based on the provided income statement data, the efficiency ratio has fluctuated significantly, reaching a low of 41.0% in 2023Q4 before rising to 52.4% in 2026Q1, which suggests that the bank's operating leverage is currently being pressured by rising non-interest expenses relative to total revenue generation.
The recent increase in the efficiency ratio may indicate that the costs associated with integrating new business lines or expanding into competitive markets are outpacing revenue gains. Analysts should evaluate whether this trend is a temporary byproduct of strategic investment or a sign of permanent structural cost inflation.
Financial statements reveal that provision expenses for loan losses have declined from a peak of $2.3 million in 2023Q4 to zero in 2026Q1, a shift that appears to reflect a more optimistic internal assessment of credit risk within the bank's current loan portfolio composition.
While the reduction in provision expense bolsters short-term net income, it may also mask underlying credit deterioration if the bank is under-reserving for its growing commercial real estate exposure. Investors should remain cautious until further data confirms that this decline is supported by actual improvements in asset quality.
Quick answers to the most common questions about buying CIVB stock.
Civista Bancshares, Inc. (CIVB) is profitable, generating $46.2M in net income for the fiscal year ending 2025 with a net profit margin of 18.1%.
Civista Bancshares, Inc. (CIVB) reported an operating income of $55.2M, resulting in an operating profit margin of 21.7%. This margin reflects the operational efficiency of the business before interest and taxes.
Civista Bancshares, Inc. (CIVB) generated $169.2M in gross profit for the year, representing a gross profit margin of 66.4%. This demonstrates the company's core pricing power and production efficiency.