Civista Bancshares (CIVB) Tops Q4 EPS by 3c

Civista Bancshares (NASDAQ: CIVB) reported Q4 EPS of $0.32, $0.03 better than the analyst estimate of $0.29.

"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.

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

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