Civista Bancshares (CIVB) Tops Q4 EPS by 1c

Civista Bancshares (NASDAQ: CIVB) reported Q4 EPS of $0.49, $0.01 better than the analyst estimate of $0.48.

• Financial results for the fourth quarter and year ended December 31, 2018 included $782 thousand and $12.7 million respectively, in acquisition and integration expenses, as well as a loss on sale of securities of $413 thousand. Excluding these items, adjusted earnings were $8.1 million, or $0.49 diluted earnings per share, for the fourth quarter of 2018 and $24.7 million, or $1.85 diluted earnings per share, for the year ended December 31, 2018.

"I am very proud of the results that our team put together for 2019 for our customers and our shareholders. In addition to record earnings, we increased loans 9.4%, deposits 6.3% and our overall asset growth was 8.0% all while maintaining very strong asset quality. During the fourth quarter, we opened a full-service branch in Beachwood, Ohio which is on the east-side of Cleveland. We have had a very successful loan production office in the area for a few years. This full-service office will allow us to serve all of the needs of our current and prospective customers in the Cleveland area. Finally, the measure that means a lot to our investors, the total return on our stock, for 2019 was 43%," 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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