Civista Bancshares reports Q1 EPS 82c, consensus 80c

Reports Q1 net charge-offs of $128,000 compared to net recoveries of $92,000for the same period of 2022. The allowance for credit losses to loans was 1.33% at March 31 and 1.12% at December 31, 2022. "With all the turmoil in the industry, strong core deposit franchises like Civista, matter again. Our deposit base is well diversified, with no concentrations and approximately 83 percent of our deposits are insured. It’s these core deposits that drive our better than peer net interest margin and strong profitability. Our net interest margin for the quarter was 4.11% and our ROAA was 1.47%," said Dennis Shaffer, CEO and President of Civista.