First Citizens Banc Corp. Reports Unaudited Preliminary Earnings Results for the Year 2012; Approves Quarterly Dividend, Payable February 1, 2013
January 05, 2013 at 12:35 am IST
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First Citizens Banc Corp. reported unaudited preliminary earnings results for the year 2012. For the period, the company reported earnings of $5,579,000, or $0.57 per common share compared to $3,958,000 or $0.36 per common share for 2011, a 58% increase in availability to common shareholders. The improvement in earnings is largely a result of the decrease in the provision for loan losses. Net interest income for 2012 was $40,578,000 compared to $41,361,000 for 2011 or a decrease of approximately 1.9%. This occurred in spite of gross loan balances increasing from $785,268,000 at year-end 2011 to $816,675,000 at year-end 2012.
The board of directors of the company has approved a quarterly dividend of 3 cents per common share to shareholders of record January 15, 2013, payable February 1, 2013.
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.
CIVISTA BANCSHARES, INC. 
