Civista Bancshares, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2016
January 27, 2017 at 07:37 pm IST
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Civista Bancshares, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2016. For the quarter, the company reported Interest income of $13,407,000 against interest income of $12,976,000 a year ago. Net interest income of $12,558,000 against net interest income of $12,161,000 a year ago. Income before taxes of $4,999,000 against income before taxes of $4,566,000 a year ago. Net income available to common shareholders of $3,286,000 against net income available to common shareholders of $2,808,000 a year ago. Diluted earnings per share of $0.33 against diluted earnings per share of $0.29 a year ago. Return on average assets of 1.05% against return on average assets of 0.97% a year ago. Return on average equity of 10.49% against return on average equity of 10.23% a year ago.
For the period, the company reported Interest income of $53,567,000 against interest income of $50,701,000 a year ago. Net interest income of $50,259,000 against net interest income of $47,392,000 a year ago. Income before taxes of $23,836,000 against income before taxes of $17,526,000 a year ago. Net income available to common shareholders of $15,716,000 against net income available to common shareholders of $11,168,000 a year ago. Diluted earnings per share of $1.57 against diluted earnings per share of $1.17 a year ago. Return on average assets of 1.19% against return on average assets of 0.95% a year ago. Return on average equity of 12.9% against return on average equity of 10.59% a year ago. Book value per share of $14.22 against book value per share of $13.12 a year ago.
Civista Bancshares, Inc. is a financial holding company. The Company, through its subsidiary, Civista Bank, is engaged in the business of community banking. Civista Bank through its locations in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Huron, Logan, Madison, Montgomery, Ottawa, Richland, Henry, Wood, and Summit, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. Civista Bank is also engaged in a general equipment leasing and financing business through its Civista Leasing & Financing (CLF) division. Its Civista Wealth Management division offers investment advisory services to individuals, families, businesses, and non-profits with personalized investment management, 401(k) advisory services for employers, financial planning, and trust services.