Civista Bancshares reports 47% surge in Q1 net income following FSB merger

Civista Bancshares (NASDAQ:CIVB) reported a substantial increase in profitability for the first quarter of 2026, marking its first full quarter of operations following the acquisition of FSB, which closed on November 7, 2025.

The Sandusky, Ohio-based bank saw net income jump to $15 million, or $0.72 per diluted share, representing a 47% increase over the first quarter of 2025 and a 22% rise from the previous sequential quarter.

The quarter’s results were bolstered by the successful integration of the FSB merger, though the bottom line included approximately $0.4 million in non-recurring acquisition-related adjustments, impacting earnings by roughly $0.02 per share.

Despite these costs, the expanded scale allowed Civista to drive net interest income to $37.8 million, a 15.4% improvement year-over-year.

A primary driver of the earnings growth was the expansion of the net interest margin (NIM), which rose 34 basis points over the prior year to 3.85%.

This margin improvement occurred even as the bank managed a cost of deposits of 181 basis points.

Efficiency remained a priority, with the company reporting an efficiency ratio of 60.1%, while profitability metrics were strong, highlighted by a Return on Assets (ROA) of 1.41%.