Start here if you're new
what it is
Civista takes in your deposits, makes loans, buys securities, and sells trust services through 43 branches.
how it gets paid
Last year Civista Bancshares made $19M in revenue. residential real estate loans was the main engine at $6.7M, or 35% of sales.
why growth slowed
Revenue fell 0.5% last year. $0.61 in Q4 2025 EPS matters because it shows Civista stayed profitable after a messy 2024.
what just happened
Civista ended 2025 with $0.61 in fourth-quarter EPS and $12.3 million of quarterly net income.
At a glance
B+ balance sheet — decent shape, but not bulletproof
65/100 earnings predictability — reasonably predictable
9.3x trailing p/e — the market's not buying it — or you found a deal
3.2% dividend yield — cash in your pocket every quarter
$2.66 fy2025 eps est
xvary composite: 57/100 — below average
What they do
Civista takes in your deposits, makes loans, buys securities, and sells trust services through 43 branches.
This is a local funding machine. Civista had $3.47 billion of deposits and $4.34 billion of assets at year-end 2025. Deposits (customer cash the bank can lend out) → cheap funding → so what: if your checking account is already there, moving is annoying, and that friction helps a 43-location bank keep business.
How they make money
$19M
annual revenue · their business grew -0.5% last year
residential real estate loans
$6.7M
commercial real estate loans
$5.5M
commercial and agriculture loans
$4.2M
securities portfolio income
$1.6M
trust and deposit services
$1.0M
The products that matter
seasonal refund processing
Tax Refund Processing
inside $27M non-interest income
This sits inside the bank's $27M non-interest income line, which is only 16% of total revenue. It makes CIVB more interesting, not less dependent on core banking.
fee income
deposits and lending
Community Banking
$142M · 84% of revenue
This is the engine. Net interest income reached $142M last year, and management is aiming for mid-single-digit loan growth next. If that slips, most of the story slips with it.
growth
wealth and trust services
Trust Services
part of $27M fee income
This helps diversify revenue, but the numbers tell the story: all non-interest income totaled $27M and fell 2% last year. Helpful, not transformational.
stability, not scale
Key numbers
20%
debt to capital
Debt to capital (how much of the funding stack is debt) → 20% → so what: leverage looks controllable, but you are still buying a small bank with real balance-sheet risk.
9.3x
trailing p/e
P/E (price divided by earnings) → 9.3x → so what: you are paying less than 10 years of current earnings for the stock.
$3.47B
total deposits
Deposits are the raw material for a bank. Civista has $3.47 billion of customer money to work with.
3.2%
dividend yield
Dividend yield (cash you get back each year as a percent of the stock price) → 3.2% → so what: you get paid to wait, if earnings hold up.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 75 / 100
- long-term debt $112M (20% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for CIVB right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Civista ended 2025 with $0.61 in fourth-quarter EPS and $12.3 million of quarterly net income.
Quarterly EPS improved from $0.53 in Q3 2024 to $0.63 in Q4 2024 in the historical run, then the company reported $0.61 for Q4 2025 in its January 2026 earnings release. The bigger point: earnings recovered after full-year EPS dropped to $2.01 in 2024 from $2.73 in 2023.
$16M
revenue
$0.61
eps
$12.3M
net income
the number that mattered
$0.61 in Q4 2025 EPS matters because it shows Civista stayed profitable after a messy 2024, when full-year EPS fell to $2.01 from $2.73.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is loan growth stalling during the 2026 CEO transition.
high
Leadership handoff meets growth target
President and CEO Dennis Shaffer retires on August 28, 2026. That would matter for any bank. It matters more here because management is simultaneously asking investors to believe in mid-single-digit loan growth.
If execution slips, the stock stays a cheap bank instead of becoming a re-rated one.
high
Too much dependence on spread income
Net interest income was $142M last year, or 84% of total revenue. If loan growth slows or funding costs rise, most of the income statement feels it at once.
This is not a bank cushioned by a large fee franchise. The core banking spread is the story.
med
Refund processing is quirky and concentrated
The TurboTax-linked refund business is one reason CIVB stands out. It also appears to sit inside a non-interest income line worth just $27M, or 16% of revenue. If that relationship weakens, the fee mix gets thinner fast.
Interesting side businesses are great until you remember how small they are.
med
Valuation can stay cheap for a long time
At 9.3x trailing earnings, the stock already looks inexpensive. Cheap stocks do not automatically become less cheap. Sometimes they just keep explaining themselves quarter after quarter.
If EPS holds around $2.64 without visible growth, the multiple may never expand.
Between the $142M net interest income base, the August 2026 CEO handoff, and only $27M of fee income, CIVB has less diversification than the low multiple suggests.
source: institutional data · regulatory filings · risk analysis
Pay attention to
core metric
loan growth versus the promise
Management is guiding to mid-single-digit loan growth. If that number fades early, the cheap multiple stops looking like an opportunity and starts looking like a warning label.
calendar
Q1 2026 earnings
Next earnings are estimated for April 23, 2026. You want to hear whether growth is showing up in the loan book or still living in guidance slides.
execution risk
the CEO succession plan
Dennis Shaffer retires on August 28, 2026. Watch the successor choice and the first public strategic language that follows. Tone matters when the story is already fragile.
capital return
dividend growth versus earnings power
The board approved a 5.9% dividend increase in January 2026. A rising payout looks good until earnings flatten. You want both moving in the same direction.
Analyst rankings
earnings predictability
65 / 100
In human-speak: the numbers are not wild, but this is still a bank where rates and growth assumptions can move the story quickly.
risk rank
3
That's roughly middle-of-the-pack safety. Not distressed. Not a shelter either.
price stability
75 / 100
The stock has been steadier than plenty of small caps. That does not make the business itself predictable.
source: institutional data
Institutional activity
institutional ownership data for CIVB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$25
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive