Civista Bancshares, Inc. released its 2024 Annual Report on March 17, 2025, outlining a year of significant progress and strategic achievement. The report highlighted net income of $31.7 million, or $2.01 per diluted share, for 2024, reflecting a transition year for the company and the banking industry.
Despite challenges such as margin contraction and increased deposit costs, Civista successfully replaced approximately $5.2 million in non-interest income from exited businesses and reduced overdraft fees. The company's non-interest income reached $37.7 million, an increase of $585,000 from the previous year, driven by increased residential mortgage production, loan and lease production, and cross-selling efforts.
Strategic priorities for 2024 included growing relationships and core deposits, leveraging technology, and investing in employees. The company launched a new digital small business lending platform, upgraded its fraud detection platform, and invested in a new digital deposit origination system to enhance efficiency and customer experience.
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