(MENAFNEditorial) SANDUSKY, Ohio, Jan. 26, 2018 /PRNewswire/ --Civista Bancshares, Inc. (NASDAQ: ) ("Civista") reported net income available to common shareholders of $3.7 million, or $0.32 per diluted share, for the fourth quarter of 2017, compared with $3.3 million, or $0.33 per diluted share, for the prior year period. For the year ended December 31, 2017, Civista reported net income available to common shareholders of $14.6 million or $1.28 per diluted share, compared to $15.7 million, or $1.57 per diluted share, in the same period of 2016. The fourth quarter and year ended December 31, 2017 results included two loan recoveries which added $252 thousand, after tax. The 2016 results for twelve-month period were impacted by a large loan recovery that resulted in approximately $1.5 million net income after taxes. In addition, we issued approximately 1.6 million new shares in February 2017 related to raising $32.8 million of additional capital, net of costs. The 2017 impact of the Tax Cut and Jobs Act was a net write down of $511 thousand, or approximately $0.05 per diluted share of net deferred tax assets.
"2017 was another strong year for Civista. We had many financial and non-financial accomplishments. When you remove the noise from the loan recoveries both in 2016 and 2017 and the tax expense impact of the Tax Cut and Jobs Act, our net income is up $389 thousand. We had a very successful $32.8 million capital raise in February which was largely oversubscribed. We have invested in a loan production office in Westlake and added lenders in our more vibrant markets. Our loan growth for the year was 10.3%. We were successful in improving our CRA rating, which allows us to pursue acquisitions again. Finally, we have completed our CEO succession with the retirement of Jim Miller. We thank Jim for his 31 years of service and look forward to his continued involvement on our board," said Dennis G. Shaffer, President and CEO of Civista.
Results of Operations:
Net interest income for the fourth quarter of 2017 increased $2.0 million, or 16.0% compared to the same period of 2016 and for the year ended December 31 increased $4.2 million, or 8.4%, compared to 2016. An increase in average loans outstanding primarily contributed to the increase in interest income for the fourth quarter and year ended 2017. The net interest income for the fourth quarter of 2017 included approximately $387 thousand of recovered interest income on two previously nonaccrual loans, which resulted in approximately 10 basis points of additional net interest margin for the fourth quarter and 2 basis points for the year ended 2017. The net interest income for the twelve-month period in 2016 included approximately $919 thousand of recovered interest income on a previous nonaccrual loan, which resulted in approximately 9 basis points of additional net interest margin. An increase in market interest rates and an increase in brokered deposits contributed to the increase in interest expense. The Federal Reserve increased short-term interest rates 75 basis points during 2017. Tax equivalent net interest margin was 4.24% for the fourth quarter, compared to 4.05% for the same period a year ago and was 4.01% for the twelve months ended December 31, 2017, compared to 3.93% for the same period a year ago.
Average Balance Analysis
(Unaudited - Dollars in thousands except share data)
Three Months Ended December 31,
2017
2016
Average
Yield/
Average
Yield/
Assets: balance
Interest rate *
balance Interest
rate *
Interest-earning assets:
Loans $ 1,152,595
$ 13,987 4.82%
$ 1,044,121 $ 11,875
4.53%
Taxable securities 145,594
981 2.69%
133,617 825
2.49%
Non-taxable securities 98,029
846 5.43%
77,841 687
5.55%
Interest-bearing deposits in other banks 12,261
25 0.81%
19,349 20
0.41%
Total interest-earning assets $ 1,408,479
15,839 4.61%
$ 1,274,928 13,407
4.31%
Noninterest-earning assets:
Cash and due from financial institutions 22,984
23,159
Premises and equipment, net 17,864
17,820
Accrued interest receivable 5,440
4,935
Intangible assets 28,416
28,985
Other assets 7,450
10,958
Bank owned life insurance 25,031
24,456
Less allowance for loan losses (12,985)
(13,359)
Total Assets $ 1,502,679
$ 1,371,882
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Demand and savings $ 592,643
$ 182 0.12%
$ 572,092 $ 126
0.08%
Time 256,780
660 1.02%
216,457 390
0.72%
FHLB 44,921
161 1.42%
19,589 93
1.89%
Federal funds purchased 11
- 0.00%
- -
0.86%
Subordinated debentures 29,427
269 3.63%
29,427 234
3.16%
Repurchase agreements 17,156
4 0.09%
23,996 6
0.10%
Total interest-bearing liabilities $ 940,938
1,276 0.54%
$ 861,561 849
0.39%
Noninterest-bearing deposits 369,079
358,802
Other liabilities 10,167
13,802
Shareholders' equity 182,495
137,717
Total Liabilities and Shareholders' Equity $ 1,502,679
$ 1,371,882
Net interest income and interest rate spread $ 14,563
4.07%
$ 12,558
3.92%
Net interest margin
4.24%
4.05%
* - Interest yields are calculated using a 35% tax-equivalent adjustment
Average Balance Analysis
(Unaudited - Dollars in thousands except share data)
Twelve Months Ended December 31,
2017
2016
Average
Yield/
Average
Yield/
Assets: balance
Interest rate *
balance Interest
rate *
Interest-earning assets:
Loans $ 1,109,069
$ 51,198 4.62%
$ 1,025,908 $ 47,186
4.60%
Taxable securities 144,685
3,745 2.62%
137,179 3,319
2.47%
Non-taxable securities 89,564
3,153 5.59%
76,317 2,666
5.61%
Interest-bearing deposits in other banks 61,859
498 0.81%
82,225 396
0.48%
Total interest-earning assets $ 1,405,177
58,594 4.30%
$ 1,321,629 53,567
4.18%
Noninterest-earning assets:
Cash and due from financial institutions 45,801
49,888
Premises and equipment, net 18,027
17,101
Accrued interest receivable 4,697
4,432
Intangible assets 28,605
29,213
Other assets 12,374
10,230
Bank owned life insurance 24,819
23,449
Less allowance for loan losses (13,113)
(14,225)
Total Assets $ 1,526,387
$ 1,441,717
Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Demand and savings $ 585,218
$ 595 0.10%
$ 566,589 $ 470
0.08%
Time 200,797
1,747 0.87%
209,093 1,526
0.73%
FHLB 54,100
695 1.28%
28,081 405
1.44%
Federal funds purchased 119
2 1.68%
116 1
0.86%
Subordinated debentures 29,427
1,035 3.52%
29,427 884
3.00%
Repurchase agreements 18,234
18 0.10%
21,767 22
0.10%
Total interest-bearing liabilities $ 887,895
4,092 0.46%
$ 855,073 3,308
0.39%
Noninterest-bearing deposits 450,648
434,601
Other liabilities 15,081
18,598
Shareholders' equity 172,763
133,445
Total Liabilities and Shareholders' Equity $ 1,526,387
$ 1,441,717
Net interest income and interest rate spread $ 54,502
3.84%
$ 50,259
3.79%
Net interest margin
4.01%
3.93%
* - Interest yields are calculated using a 35% tax-equivalent adjustment
No provision for loan losses was made during 2017 and a credit provision of $1.3 million was recorded for the twelve months ended December 31, 2016 due to a large loan recovery.
During the quarter, noninterest income totaled $3.6 million, an increase of $487 thousand, compared to the prior year's fourth quarter. Year-to-date noninterest income totaled $16.3 million, an increase of $202 thousand, or 1.3%, compared to the prior year.
Noninterest income
(dollars in thousands) Three months ended
December 31,
Twelve months ended
December 31,
2017
2016
2017
2016
Service charges $ 1,168
$ 1,118
$ 4,777
$ 4,832
Net gain on sale of securities 21
(1)
12
19
Net gain on sale of loans 538
409
1,745
1,750
ATM/Interchange fees 661
510
2,304
2,094
Wealth management fees 835
689
3,068
2,678
Bank owned life insurance 144
148
573
563
Tax refund processing fees -
-
2,750
2,750
Other 263
270
1,105
1,446
Total noninterest income $ 3,630
$ 3,143
$ 16,334
$ 16,132
Gain on sale of loans increased $129 thousand, or 31.5%, for the quarter ended December 31, 2017 compared to 2016. ATM/Interchange fees increased $151 thousand and $210 thousand for the quarter and year ended December 31, 2017, primarily due to $100 thousand incentive received related the 2017 debit card conversion. Wealth management fees increased $146 thousand, or 21.2%, and $390 thousand, or 14.6%, for the quarter and year ended December 31, 2017 due to increased assets under management as well as market conditions. Assets under management have increased $17.0 million since the end of the third quarter 2017 and $48.8 million during 2017. Other income decreased $341 for the year ended December 31, 2017, compared to 2016, primarily due to a $173 thousand decrease in swap income and a $180 thousand decrease in gain/loss on sale of OREO properties.
During the quarter, noninterest expense totaled $12.4 million, an increase of $1.7 million, or 15.7%, compared to the prior year's fourth quarter. Year-to-date noninterest expense increased $4.7 million, or 10.8%, when compared to the twelve months of 2016.
Noninterest expense
(dollars in thousands) Three months ended
December 31,
Twelve months ended
December 31,
2017
2016
2017
2016
Compensation expense $ 7,569
$ 6,270
$ 29,253
$ 25,323
Net occupancy and equipment 1,154
1,174
4,253
4,341
Contracted data processing 664
399
1,838
1,546
Taxes and assessments 345
228
1,526
1,534
Professional services 582
445
2,300
1,895
Amortization of intangible assets 104
172
586
699
Marketing 49
119
817
929
Other 1,920
1,895
8,031
7,588
Total noninterest expense $ 12,387
$ 10,702
$ 48,604
$ 43,855
Compensation expense increased $1.3 million for the fourth quarter and $3.9 million for the year ending December 31, 2017.
The increases in compensation expense for both periods were due to an increase of fourteen full time equivalent employees, $864 thousand and $2.6 million of normal merit raises, commissions and incentives, $186 thousand and $526 thousand of insurance costs and $259 thousand and $740 thousand of pension expense. The pension expense increases are due to a pension curtailment incurred upon the retirement of some senior executives. Professional services costs increased $137 thousand for the fourth quarter and $405 thousand for the year ended December 31, 2017, primarily attributable to the Company retaining professional services to analyze its' workflow systems and recommend process improvements and the reintroduction of state examination fees. Other expenses increased $443 thousand for the year ended December 31, 2017. Approximately $243 thousand of the increase is attributable to ATM/Interchange expenses, due to vendor credits that expired in the second quarter of 2016 and unreimbursed expenses related to the 2017 debit card conversion.
The efficiency ratio was 67.0% for the twelve months ended December 31, 2017 compared to 64.7% for the twelve months ended December 31, 2016. The increase in the efficiency ratio is due primarily to the increase in noninterest expense, partially offset by an increase in net interest income.
Balance Sheet
Total assets increased $148.6 million, or 10.8%, from December 31, 2016 to December 31, 2017, primarily due to an increase in the loan portfolio of $109.2 million and an increase in investment securities of $35.2 million.
The $109.2 million, or 10.3%, increase in the loan portfolio from December 31, 2016 to December 31, 2017, continues to come from growth in our Commercial and Agriculture, Commercial Real Estate and Residential Real Estate loan portfolios. The majority of the loan growth continued to come from our metropolitan markets. Real Estate Construction loans also increased this year, due to very successful development lending and multi-family projects.
End of period loan balances
(dollars in thousands)
December 31,
December 31,
2017
2016
$ Change
% Change
Commercial and Agriculture $ 152,473
$ 135,462
$ 17,011
12.6%
Commercial Real Estate:
Owner Occupied 164,099
161,364
2,735
1.7%
Non-owner Occupied 425,623
395,931
29,692
7.5%
Residential Real Estate 268,735
247,308
21,427
8.7%
Real Estate Construction 97,531
56,293
41,238
73.3%
Farm Real Estate 39,461
41,170
(1,709)
-4.2%
Consumer and Other 16,739
17,978
(1,239)
-6.9%
Total Loans $ 1,164,661
$ 1,055,506
$ 109,155
10.3%
Total deposits increased $83.8 million, or 7.5%, from December 31, 2016 to December 31, 2017. The increase was due primarily to $67.4 million of additional brokered deposits. Brokered deposits are used to fund loan growth.
End of period deposit balances
(dollars in thousands)
December 31,
December 31,
2017
2016
$ Change
% Change
Noninterest-bearing demand $ 361,964
$ 345,588
$ 16,376
4.7%
Interest-bearing demand 183,680
183,759
(79)
0.0%
Savings and money market 404,690
384,330
20,360
5.3%
Time deposits 138,557
158,774
(20,217)
-12.7%
Brokered deposits 116,032
48,652
67,380
138.5%
Total Deposits $ 1,204,923
$ 1,121,103
$ 83,820
7.5%
Federal Home Loan Bank advances increased $23.4 million or 48.2% from December 31, 2016 to December 31, 2017, primarily to fund loan growth.
Total shareholders' equity increased $46.8 million, or 34.0%, from December 31, 2016 to December 31, 2017, primarily due to approximately $32.8 million of additional common equity raised in February. Retained earnings also increased by $12.4 million.
Asset Quality
The Company recorded net charge-offs of $171 thousand for the twelve months of 2017 compared to net recoveries of $244 thousand for the same period of 2016.
Allowance for Loan Losses
(dollars in thousands)
December 31,
December 31,
2017
2016
Beginning of period $ 13,305
$ 14,361
Charge-offs (942)
(1,826)
Recoveries 771
2,070
Provision -
(1,300)
End of period $ 13,134
$ 13,305
The allowance for loan losses to loans was 1.13% for 2017 and 1.26% for 2016. The decrease is due to the loan growth during 2017. Asset quality improved with non-performing assets to assets ratio decreasing to 0.63% from 0.85% in 2016. The allowance for loan losses to non-performing loans increased to 137.82% from 113.74% in 2016.
Non-performing assets at December 31, 2017 were $9.5 million, an 18.7% decrease from December 31, 2016.
Non-performing Assets
(dollars in thousands) December 31,
December 31,
2017
2016
Non-accrual loans $ 6,642
$ 7,518
Restructured loans 2,888
4,180
Total non-performing loans 9,530
11,698
Other Real Estate Owned 16
37
Total non-performing assets $ 9,546
$ 11,735
Mr. Shaffer continued, "As we close out another successful year we are very pleased with our results. Our core net income is up, our asset quality has continued to improve and we are free from our CRA issue. Our 2018 initiatives will include continued loan growth, maintaining our asset quality, mergers and acquisitions and deposit acquisition strategies."
Civista Bancshares, Inc. is a $1.5 billion financial holding company headquartered in Sandusky, Ohio. The Company's banking subsidiary, Civista Bank, operates 29 locations in Northern, Mid-Central and Southwestern Ohio.
Civista Bancshares, Inc. may be accessed at HUwww.civb.comUH. The Company's common shares are traded on the NASDAQ Capital Market under the symbol "CIVB". The Company's depositary shares, each representing a 1/40th ownership interest in a Series B Preferred Share, are traded on the NASDAQ Capital Market under the symbol "CIVBP".
This press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of Civista. For these statements, Civista claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Civista, including the information in the filings we make with the Securities and Exchange Commission. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in Civista' reports filed with the Securities and Exchange Commission, including those described in "Item 1A Risk Factors" of Part I of Civista's Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Civista does not undertake, and specifically disclaims any obligation, to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.
Civista Bancshares, Inc.
Financial Highlights
(dollars in thousands, except share amounts)
Consolidated Condensed Statement of Income
Three Months Ended
Twelve Months Ended
December 31,
December 31,
(unaudited)
(unaudited)
2017
2016
2017
2016
Interest income 15,839
13,407
58,594
53,567
Interest expense 1,276
849
4,092
3,308
Net interest income 14,563
12,558
54,502
50,259
Provision for loan losses -
-
-
(1,300)
Net interest income after provision 14,563
12,558
54,502
51,559
Noninterest income 3,630
3,143
16,334
16,132
Noninterest expense 12,387
10,702
48,604
43,855
Income before taxes 5,806
4,999
22,232
23,836
Income tax expense 1,826
1,368
6,360
6,619
Net income 3,980
3,631
15,872
17,217
Preferred stock dividends 308
345
1,244
1,501
Net income available
to common shareholders 3,672
3,286
14,628
15,716
Dividends per common share $ 0.07
$ 0.06
$ 0.25
$ 0.22
Earnings per common share,
basic $ 0.36
$ 0.40
$ 1.48
$ 1.96
diluted $ 0.32
$ 0.33
$ 1.28
$ 1.57
Average shares outstanding,
basic 10,179,079
8,274,166
9,906,856
8,010,650
diluted 12,597,396
10,964,108
12,352,616
10,951,212
Selected financial ratios:
Return on average assets 1.05%
1.05%
1.04%
1.19%
Return on average equity 8.65%
10.49%
9.19%
12.90%
Dividend payout ratio 17.90%
13.67%
15.60%
10.24%
Net interest margin (tax equivalent) 4.24%
4.05%
4.01%
3.93%
Selected Balance Sheet Items
December 31,
December 31,
2017
2016
(unaudited)
(unaudited)
Cash and due from financial institutions $ 40,519
$ 36,695
Investment securities 231,062
195,864
Loans held for sale 2,197
2,268
Loans 1,164,661
1,055,506
Less allowance for loan losses 13,134
13,305
Net loans 1,151,527
1,042,201
Other securities 14,247
14,055
Fixed assets 17,816
17,920
Goodwill and other intangibles 28,374
28,879
Bank owned life insurance 25,125
24,552
Other assets 14,990
14,829
Total assets $ 1,525,857
$ 1,377,263
Total deposits $ 1,204,923
$ 1,121,103
Federal Home Loan Bank advances 71,900
48,500
Securities sold under agreements to repurchase 21,755
28,925
Subordinated debentures 29,427
29,427
Accrued expenses and other liabilities 13,391
11,692
Total shareholders' equity 184,461
137,616
Total liabilities and shareholders' equity $ 1,525,857
$ 1,377,263
Shares outstanding at period end 10,198,475
8,343,509
Book value per share $ 16.39
$ 14.22
Equity to asset ratio 12.09%
9.99%
Selected asset quality ratios:
Allowance for loan losses to total loans 1.13%
1.26%
Non-performing assets to total assets 0.63%
0.85%
Allowance for loan losses to non-performing loans 137.82%
113.74%
Non-performing asset analysis
Nonaccrual loans $ 6,642
$ 7,518
Troubled debt restructurings 2,888
4,180
Other real estate owned 16
37
Total $ 9,546
$ 11,735
Supplemental Financial Information
(Unaudited - Dollars in thousands except share data)
December 31,
September 30,
June 30,
March 31,
December 31,
End of Period Balances 2017
2017
2017
2017
2016
Assets
Cash and due from banks $ 40,519
$ 33,394
$ 39,515
$ 182,446
$ 36,695
Securities available for sale 231,062
229,419
230,197
223,245
195,864
Loans held for sale 2,197
4,662
4,728
1,740
2,268
Loans 1,164,661
1,141,992
1,100,817
1,075,240
1,055,506
Allowance for loan losses (13,134)
(12,946)
(13,047)
(13,300)
(13,305)
Net Loans 1,151,527
1,129,046
1,087,770
1,061,940
1,042,201
Other securities 14,247
14,247
14,225
14,072
14,055
Fixed assets 17,816
17,688
17,777
17,952
17,920
Goodwill and other intangibles 28,374
28,455
28,589
28,727
28,879
Bank owned life insurance 25,125
24,981
24,839
24,696
24,552
Other assets 14,990
14,196
14,375
14,197
14,829
Total Assets $ 1,525,857
$ 1,496,088
$ 1,462,015
$ 1,569,015
$ 1,377,263
Liabilities
Total deposits $ 1,204,923
$ 1,201,289
$ 1,164,888
$ 1,311,453
$ 1,121,103
Federal Home Loan Bank advances 71,900
56,750
63,300
15,000
48,500
Securities sold under agreement to repurchase 21,755
15,148
12,730
23,674
28,925
Subordinated debentures 29,427
29,427
29,427
29,427
29,427
Accrued expenses and other liabilities 13,391
11,493
12,827
14,724
11,692
Total liabilities 1,341,396
1,314,107
1,283,172
1,394,278
1,239,647
Shareholders' Equity
Preferred shares, Series B 17,358
17,557
17,568
17,708
18,950
Common stock 153,810
153,562
153,495
153,167
118,975
Accumulated earnings 31,652
28,494
25,751
23,073
19,263
Treasury stock (17,235)
(17,235)
(17,235)
(17,235)
(17,235)
Accumulated other comprehensive income (loss) (1,124)
(397)
(736)
(1,976)
(2,337)
Total shareholders' equity 184,461
181,981
178,843
174,737
137,616
Total Liabilities and Shareholders' Equity $ 1,525,857
$ 1,496,088
$ 1,462,015
$ 1,569,015
$ 1,377,263
Quarterly Average Balances
Assets:
Earning assets $ 1,408,479
$ 1,377,137
$ 1,368,387
$ 1,467,678
$ 1,274,928
Securities 243,623
243,556
238,400
210,962
211,458
Loans 1,152,595
1,122,131
1,092,574
1,067,903
1,044,121
Liabilities and Shareholders' Equity
Total deposits $ 1,218,502
$ 1,152,235
$ 1,186,640
$ 1,392,109
$ 1,147,351
Interest-bearing deposits 849,423
788,452
737,470
767,794
788,549
Interest-bearing liabilities 91,515
130,057
104,084
81,448
73,012
Total shareholders' equity 182,495
179,925
176,285
151,928
137,717
Supplemental Financial Information
(Unaudited - Dollars in thousands except share data)
Three Months Ended
December 31,
September 30,
June 30,
March 31,
December 31,
Income statement 2017
2017
2017
2017
2016
Total interest income $ 15,839
$ 14,836
$ 14,228
$ 13,692
$ 13,407
Total interest expense 1,276
1,156
861
800
849
Net interest income 14,563
13,680
13,367
12,892
12,558
Provision for loan losses -
-
-
-
-
Noninterest income 3,630
3,465
4,101
5,138
3,143
Noninterest expense 12,387
12,167
12,549
11,502
10,702
Income before taxes 5,806
4,978
4,919
6,528
4,999
Income tax expense 1,826
1,318
1,323
1,893
1,368
Net income 3,980
3,660
3,596
4,635
3,631
Preferred stock dividends 308
308
308
319
345
Net income available to common shareholders $ 3,672
$ 3,352
$ 3,288
$ 4,316
$ 3,286
Common shares dividend paid $ 712
$ 610
$ 609
$ 507
$ 495
Per share data
Basic net income per common share $ 0.36
$ 0.33
$ 0.32
$ 0.47
$ 0.40
Diluted net income per common share 0.32
0.29
0.29
0.40
0.33
Dividends per common share 0.07
0.06
0.06
0.06
0.06
Average common shares outstanding - basic 10,179,079
10,170,734
10,162,527
9,100,329
8,273,167
Average common shares outstanding - diluted 12,597,396
12,597,299
12,593,876
11,608,333
10,963,109
Asset quality
Allowance for loan losses, beginning of period $ 12,946
$ 13,047
$ 13,300
$ 13,305
$ 13,451
Charge-offs (145)
(309)
(357)
(131)
(287)
Recoveries 333
208
104
126
141
Provision -
-
-
-
-
Allowance for loan losses, end of period $ 13,134
$ 12,946
$ 13,047
$ 13,300
$ 13,305
Ratios
Allowance to total loans 1.13%
1.13%
1.19%
1.24%
1.26%
Allowance to nonperforming assets 137.58%
117.19%
120.25%
113.48%
113.38%
Allowance to nonperforming loans 137.82%
117.47%
120.54%
114.34%
113.74%
Nonperforming assets
Nonperforming loans $ 9,530
$ 11,021
$ 10,823
$ 11,632
$ 11,698
Other real estate owned 16
27
27
17
37
Total nonperforming assets $ 9,546
$ 11,048
$ 10,850
$ 11,649
$ 11,735
Capital and liquidity
Tier 1 leverage ratio 12.69%
12.74%
12.50%
11.08%
10.55%
Tier 1 risk-based capital ratio 15.45%
15.54%
15.87%
15.93%
12.98%
Total risk-based capital ratio 16.53%
16.63%
17.01%
17.12%
14.20%
Tangible common equity ratio 10.00%
9.31%
9.30%
8.37%
6.70%
View original content:
SOURCE Civista Bancshares, Inc.
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