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- **Record Q3 Results**: $12.8M net income (+53% YoY), driving 61.5% efficiency ratio. 
- **Strategic Merger**: Farmers Savings Bank deal to close by mid-November. 
- **Growth Catalysts**: $80.5M capital raise, mid-single-digit loan growth guidance. 
- **Margin Expansion**: 5 basis points Q4, supporting 2026 organic expansion. 
- **Risk Management**: 288% CRE concentration, 1.30% ACL ratio. 
- **Shareholder Return**: $0.17 quarterly dividend (25% payout ratio).

**【CEO Opening Remarks】**
- Reported net income of $12.8 million ($0.68 per share), a 53% increase year-over-year. 
- Highlighted $80.5 million capital raise to support organic growth and infrastructure investments. 
- Announced regulatory approval for Farmers Savings Bank merger, expected to close by mid-November 2025. 
- Emphasized strong credit quality with criticized loans stable at $93.3 million. 

**【CFO Financial Commentary】**
- GAAP net income of $12.8 million vs. $8.4 million prior year. 
- Efficiency ratio improved to 61.5% (64.5% linked quarter). 
- Tangible common equity ratio rose to 9.21% (6.7% prior quarter). 
- Projected 5 basis point margin expansion in Q4 2025. 

**【Q&A Highlights】**
- Loan growth guidance: mid-single digits Q4 2025, mid-high single digits 2026. 
- Fee income outlook: $9.2 million Q4 (includes $50k from Farmers). 
- Merger impact: $23 million reduction in brokered deposits, $33.4M core deposit growth. 
- Risk management: CRE concentration 288% vs. 325% target. 
- Pricing strategy: 7.25% avg rate on new commercial loans. 

**【Operational Updates】**
- Digital deposit platform expansion: checking/money market accounts launching Q4. 
- System conversion timeline: Farmers integration by early 2026. 
- Liquidity position: $44.5M unrealized security losses (down $8.9M YoY). 
- Regulatory capital: Tier 1 leverage ratio 11% (well-capitalized threshold).

Civista Bancshares, Inc. (CIVB) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CIVB

CIVB fundamentals

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