Civista Bancshares, Inc. reported net income of $10.2 million, or $0.66 per common share, for the first quarter ended March 31, 2025. This represents a significant increase of $0.25 per common share from $0.41 in the first quarter of 2024 and an increase from $0.63 in the linked quarter.
Net interest income increased by $4.4 million, or 15.5%, compared to the same period last year, leading to an expansion of the fully tax equivalent net interest margin to 3.51%. This margin improvement was driven by a 9 basis point increase in loan yields and an 11 basis point reduction in overall funding costs since the fourth quarter of 2024.
Total deposits grew by $27.0 million, or 0.8%, from December 31, 2024, continuing the trend of reducing reliance on wholesale funding. The tangible common equity ratio improved to 6.59% at March 31, 2025, up from 6.43% at December 31, 2024, reflecting strengthening capital levels.
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