Screener Companies About
Nasdaq:CIVB
Financial Services Banks - Regional

CIVISTA BANCSHARES, INC.

A regional bank providing tailored commercial and consumer financial solutions with a focus on community growth and stable deposit bases.

■ Key Metrics

Revenue
$19.1M
Net Income
$31.7M
Gross Profit
$19.1M
Operating Cash Flow
$48.2M
Total Assets
$4.10B
Shareholders' Equity
$388.5M

⚖ Investment Thesis

Bull Case

The bank benefits from a robust asset base of $4.10B and positive cash flow from operations of $48.2M, indicating underlying operational strength despite recent revenue contraction.

Bear Case

Investors should be cautious regarding the large accumulated other comprehensive loss of -$53.4M and a retained earnings deficit of -$205.4M, which may signal long-term equity erosion or accounting complexities.

◉ About CIVISTA BANCSHARES, INC.

CIVISTA BANCSHARES, INC. operates as a diversified financial institution offering commercial banking services, consumer lending, and investment management solutions primarily to small-to-medium enterprises and individuals in the United States.

⚙ Analysis

Management Discussion

While revenue declined to $19.1M in 2024 from a peak of $30.4M in 2023, the company maintained profitability with net income at $31.7M, though operating expenses recorded an anomalous negative value requiring further review.

Industry Overview

The regional banking sector faces headwinds from rising funding costs and margin compression but remains resilient through digital transformation and focus on underserved market niches.

☰ Financial Statements

Income Statement
Balance Sheet
Cash Flow
Metric202220232024
Revenue$24.5M$30.4M$19.1M
Cost of Revenue$0$0$0
Gross Profit$24.5M$30.4M$19.1M
Operating Expenses$-22.5M$-20.2M$-17.5M
Operating Income$47.0M$50.6M$36.6M
Stock-Based Comp$819.0K$984.0K$871.0K
Depreciation$4.5M$10.8M$9.5M
Amortization$1.3M$1.6M$1.5M
Non-Operating Income$0$0$0
Interest Expense$11.0M$57.2M—
Interest Income$1.1M$979.0K$1.0M
Pre-Tax Income$47.0M$50.6M$36.6M
Income Tax$7.6M$7.6M$4.9M
Continuing Ops$39.4M$43.0M$31.7M
Discontinued Ops$0$0$0
Net Income$39.4M$43.0M$31.7M
Minority Interest$0$0$0
Net to Common$39.4M$43.0M$31.7M
Metric202220232024
PP&E (Net)$64.0M$56.8M$47.2M
Intangibles$10.8M$9.5M$7.9M
Goodwill$125.7M$125.5M$125.5M
Operating Leases$2.1M$1.6M$1.1M
Total Assets$3.54B$3.86B$4.10B
Total Liabilities$3.20B$3.49B$3.71B
Shareholders' Equity$334.8M$372.0M$388.5M
Retained Earnings$156.5M$183.8M$205.4M
AOCI$-58.0M$-47.5M$-53.4M
Treasury Stock$73.8M$75.4M$75.6M
Total L&E$3.54B$3.86B$4.10B
Metric202220232024
Net Income (CFO)$39.4M$43.0M$31.7M
Non-Cash Adjustments$72.4M$-329.8M$-216.4M
Working Capital Changes$-86.6M$349.5M$233.0M
Cash from Operations$25.2M$62.7M$48.2M
Capital Expenditures$6.5M$3.4M$4.2M
Cash from Investing$-410.4M$-311.8M$-258.8M
Share Buybacks$16.9M$1.6M$164.0K
Dividends Paid$8.5M$9.6M$10.1M
Cash from Financing$164.3M$266.1M$213.3M
FX Effect$0$0$0
Net Change in Cash$-220.9M$17.0M$2.7M
Beginning Cash$264.2M$43.4M$60.4M
Ending Cash$43.4M$60.4M$63.2M

Frequently Asked Questions

How does CIVISTA BANCSHARES, INC. make money?

The company generates revenue through commercial banking deposits, consumer loans including mortgages and personal credit lines, and wealth management advisory fees derived from asset growth.

What are the main risks for CIVB?

Elevated non-interest bearing liabilities and significant cash outflows for investments suggest potential liquidity management challenges, interest rate sensitivity impacting net interest margins, and regulatory capital requirements affecting expansion capabilities.

What is CIVB's competitive advantage?

Strong local community relationships fostering high customer loyalty, efficient cost structures relative to peers, and a diversified loan portfolio that mitigates sector-specific concentration risks.

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