Civista Bancshares (CIVB) Misses Q2 EPS by 16c

Civista Bancshares (NASDAQ: CIVB) reported Q2 EPS of $0.24, $0.16 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $16.16 million versus the consensus estimate of $18.95 million.

"We had a very successful second quarter in 2018. While we have begun to incur expenses related to the acquisition of UCB, those expenses have been in line with our initial projections. Our core earnings per share increased $0.31 per diluted share. Our loan balances have begun to pick up and we had annualized loan growth of 9.1% in the quarter. We recently announced our dividend for the third quarter of 2018 at $0.09 per share which is an increase of 28.6%. We announced earlier this week that we have obtained all necessary shareholder and regulatory approvals for the closing of the UCB acquisition. We look forward to welcoming the UCB shareholders, customers and employees to Civista," said Dennis G. Shaffer, President and CEO of Civista.

For earnings history and earnings-related data on Civista Bancshares (CIVB) click here.

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