First Citizens Banc Corp. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 30, 2013
January 10, 2014 at 08:30 am
Share
First Citizens Banc Corp. reported unaudited consolidated earnings results for the fourth quarter and year ended December 30, 2013. For the quarter, interest income was $11,443,000 against $11,357,000 a year ago. Net interest income was $10,290,000 against $9,959,000 a year ago. The increase in net interest income was due to a decrease in interest expense of $245,000. Income before taxes was $1,142,000 against $2,662,000 a year ago. Net income available to common share holders was $753,000 against $1,676,000 a year ago. Basic and diluted earnings per common share were $0.10 against $0.22 a year ago. Return on average assets was 0.35% against 0.68% a year ago. Return on average equity was 3.99% against 7.42% a year ago.
For the year, interest income was $44,881,000 against $46,762,000 a year ago. Net interest income was $39,974,000 against $40,578,000 a year ago. The decrease in net interest income for the year was due a decrease in interest income of $1.9 million. Income before taxes was $7,552,000 against $7,304,000 a year ago. Net income available to common share holders was $5,020,000 against $4,386,000 a year ago. Basic and diluted earnings per common share were $0.65 against $0.57 a year ago. Return on average assets was 0.53% against 0.49% a year ago. Return on average equity was 5.97% against 5.36% a year ago.
Civista Bancshares, Inc. is a financial holding company. The Company, through its subsidiary, Civista Bank, is engaged in the business of community banking. Civista Bank through its locations in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Huron, Logan, Madison, Montgomery, Ottawa, Richland, Henry, Wood, and Summit, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. Civista Bank is also engaged in a general equipment leasing and financing business through its Civista Leasing & Financing (CLF) division. Its Civista Wealth Management division offers investment advisory services to individuals, families, businesses, and non-profits with personalized investment management, 401(k) advisory services for employers, financial planning, and trust services.