EX-99.1

EXHIBIT 99.1

Civista Bancshares, Inc. Announces First-Quarter 2026 Financial Results of $0.72 per Common Share, up $0.06 per Common Share from First-Quarter 2025

Sandusky, Ohio, April 22, 2026 /PRNewswire/– Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) today reported net income of $15.0 million, or $0.72 per common share, for the quarter ended March 31, 2026. The results of the periods reflect the inclusion of The Farmers Savings Bank ("FSB") merger since November 7, 2025.

•

Net income, for the first-quarter of 2026 of $15.0 million, a $4.8 million or 47% increase compared to $10.2 million for the first-quarter 2025, and a $2.7 million or 22% increase compared to $12.3 million for the fourth-quarter 2025.

•

Diluted earnings per common share of $0.72, for the first quarter of 2026, a $0.06 or 9% increase compared to $0.66 per diluted share, for the first quarter of 2025, and $0.11 or 18% increase compared to $0.61 per diluted share, for the fourth quarter of 2025.

•

First-quarter 2026 results include non-recurring, acquisition-related adjustments associated with the merger of FSB that negatively impacted net income by approximately $0.4 million on a pre-tax and after-tax basis, or $0.02 per common share.

•

Net interest margin (tax‑equivalent) expanded to 3.85% during the first quarter of 2026, increasing 34 basis points year‑over‑year and 16 basis points sequentially, reflecting lower funding costs and disciplined balance‑sheet management.

•

Cost of funds of 196 basis points for the first-quarter of 2026, 35 basis points lower than the 231 basis points cost of funds for the first-quarter of 2025, and 12 basis points lower than the 208 basis points in fourth-quarter 2025.

•

Cost of deposits of 181 basis points for the first-quarter of 2026, down 19 basis points compared to 200 basis points in the first-quarter of 2025, and 11 basis points lower than the 192 basis points in the fourth-quarter of 2025.

•

Efficiency ratio for the first quarter of 2026 was 60.1%, compared to 64.9% for the first quarter of 2025.

•

Total deposits increased $35.4 million, or 1.0%, in the first quarter of 2026 compared to the fourth quarter of 2025.

•

Return on Assets of 1.41%, compared to 1.00% for the first quarter of 2025 and 1.14% for the fourth quarter of 2025.

CEO Commentary:

“Civista reported a solid start to 2026, with first‑quarter net income of $15.0 million, or $0.72 per diluted share,” said Dennis Shaffer, President and Chief Executive Officer of Civista Bancshares, Inc. “Results for the quarter reflected continued expansion in net interest margin, disciplined expense management, and stable credit performance, while we proactively managed the balance sheet in a changing operating environment.”

“During the first quarter, we continued to optimize our funding mix by reducing higher‑cost sources, including brokered deposits and short‑term FHLB advances, while growing core deposits,” Shaffer said. “These actions contributed to lower funding costs and further strengthened our liquidity profile.”

“We also successfully completed the integration and system conversion of The Farmers Savings Bank during the quarter,” Shaffer added. “The conversion was executed smoothly and on schedule, reflecting our disciplined approach to integration and our commitment to minimizing disruption for customers and employees.”

“As we move forward, we remain focused on disciplined growth, prudent risk management, and delivering consistent value for shareholders,” Shaffer concluded. “Our community‑banking model and diversified earnings profile position Civista well as we navigate the current economic environment and continue to support the communities we serve.”

Results of Operations:

For the three-month periods ended March 31, 2026, March 31, 2025 and December 31, 2025.

The results of the periods reflect the inclusion of FSB merger since November 7, 2025.

First-Quarter 2026 Highlights

•

Net income of $15.0 million, a $4.8 million or 47% increase compared to $10.2 million for the first quarter 2025, and a $2.7 million or 22% increase compared to the $12.3 million for the fourth quarter of 2025.

•

Successfully completed the core system conversion and operational integration of FSB, following its acquisition in the fourth quarter of 2025.

•

The first-quarter of 2026 included non-recurring adjustments related to the merger of FSB that closed in the fourth quarter of 2025 that negatively impacted net income by approximately $0.4 million on a pre-tax and after-tax basis, or $0.02 per common share.

•

Net interest income of $37.8 million, up $5.1 million or 15.4% compared to the first quarter of 2025, and up $1.4 million or 3.8% compared to the fourth quarter of 2025.

•

Total deposits increased $35.4 million, or 1.0%, in the first quarter of 2026 compared to the fourth quarter of 2025.

•

Efficiency ratio for the first quarter of 2026 was 60.1%, compared to 64.9% for the first quarter of 2025.

•

Return on average assets improved to 1.41%, compared to 1.00% for the first quarter of 2025 and 1.14% for the fourth quarter of 2025.

•

Return on average equity increased to 10.97%, compared to 10.39% for the first quarter of 2025 and 9.26% for the fourth quarter of 2025.

•

Allowance for credit losses on loans / total loans of 1.26%.

•

Tangible book value per share was $19.70 at March 31, 2026.

•

Declared a quarterly cash dividend of $0.18 per share, an increase from $0.17 per share in the prior quarter.

•

Based on the March 31, 2026 closing share price of $22.79, the $0.18 quarterly dividend represents an annualized yield of 3.16% and a payout ratio of 24.91%.

Assets

Total assets at March 31, 2026, were $4.3 billion, a decrease of $38.1 million, or 0.9% from December 31, 2025.

•

Loan and lease balances decreased $40.4 million, or 1.2% since December 31, 2025 reflecting seasonal construction runoff and loan payoffs.

•

Real Estate Construction loans decreased $30.9 million since December 31, 2025, mainly due to seasonal construction patterns that primarily sees its lowest activity in the first quarter combined with projects moving from temporary to permanent financing.

•

Commercial Real Estate Non-Owner Occupied decreased $6.2 million since December 31, 2025 primarily related to loan payoffs.

•

Residential Real Estate decreased $1.0 million since December 31, 2025 reflecting stable demand and portfolio runoff offsetting new originations.

Deposits & Borrowings

Total deposits at March 31, 2026, were $3.5 billion, an increase of $35.4 million, or 1.0% from December 31, 2025.

•

Interest-bearing demand deposits increased $18.9 million from December 31, 2025, primarily due to increases of $18.6 million and $5.0 million in interest-bearing public funds and business interest-bearing demand deposits, respectively, slightly offset by decreases of $4.6 million and $2.8 million in jumbo demand deposits and retail interest-bearing demand deposits, respectively.

•

Savings and money markets increased $56.7 million from December 31, 2025, primarily due to increases of $27.0 million, $13.3 million, $8.8 million, $6.1 million, and $4.2 million in business money market deposits, ICS money market deposits, public fund money market, retail money market deposits, and statement savings, respectively.

•

Time deposits decreased $16.9 million from December 31, 2025, primarily due a decrease of $15.4 million in jumbo CDs.

•

Brokered deposits totaled $377.1 million at March 31, 2026, which included brokered certificate of deposits of $375.0 million and brokered money markets of $2.1 million. Brokered deposits decreased $25.0 million from December 31, 2025, strategically reducing the balances of brokered deposits.

•

FHLB short-term advances totaled $100.0 million on March 31, 2026, down $75.0 million from December 31, 2025.

Net Interest Income and Net Interest Margin

Net interest income increased $5.1 million, or 15.4%, for the first quarter of 2026, compared to the same period last year.

•

Interest income increased $2.1 million year over year, primarily reflecting growth in average interest‑earning assets, partially offset by a modest decline in asset yields due to a decrease in interest rates.

•

Interest expense decreased $3.0 million year over year, as lower borrowing costs from reduced short‑term FHLB advances and improved time deposit pricing more than offset the impact of continued growth in interest‑bearing deposit balances.

•

Net interest margin increased 34 basis points to 3.85% for the first quarter of 2026, compared to 3.51% for the same period last year, reflecting disciplined deposit pricing, a reduced reliance on higher‑cost wholesale funding, and favorable repricing dynamics, partially offset by pressure from changes in asset mix.

Credit

Provision for credit losses (including provision for unfunded commitments) decreased $2.2 million benefiting from a credit to the provision for credit losses of $0.6 million for the first quarter of 2026 compared to an expense of $1.6 million for the same period last year.

•

Civista recorded net charge-offs of $0.7 million for the first quarter of 2026 compared to net charge-offs of $0.6 million for the same period last year.

•

The allowance for credit losses to loans ratio was 1.26% at March 31, 2026, compared to 1.30% at March 31, 2025, and 1.28% at December 31, 2025.

•

The allowance for credit losses was $40.5 million at March 31, 2026, compared to $40.3 million at March 31, 2025, and $42.0 million at December 31, 2025.

•

Non-performing assets at March 31, 2026, were $30.2 million, a decrease of $1.0 million or 3.3%, from December 31, 2025. The non-performing assets to assets ratio was 0.70% and 0.72% at March 31, 2026 and December 31, 2025, respectively.

•

The allowance for credit losses to non-performing loans increased slightly to 134.8% at March 31, 2026, from 134.3% at December 31, 2025.

Non-interest Income

Non-interest income for the first quarter of 2026 totaled $9.4 million, an increase of $1.6 million or 20.0%, when compared to the same period last year.

•

Service charges increased $0.2 million for the first quarter of 2026, compared to the same period last year, primarily from higher retail service charges, including retail overdraft fees.

•

Net gain on sale of loans increased $1.0 million for the first quarter of 2026, compared to the same period last year, due to the changes in the interest rate environment.

•

Lease revenue and residual income decreased $0.3 million for the first quarter of 2026 compared to the same period last year, mainly due to a decrease in operating lease originations in the first quarter of 2026 as the Company continues to shift towards finance leases.

•

Other income increased $0.4 million for the first quarter of 2026 compared to the same period last year. Income from the Company's captive insurance subsidiary, CIVB Risk Management, recorded $0.5 million of income in the first quarter of 2026 related to the closure of three claims without payment, resulting in a reduction of ceded reserves.

Non-interest Expense

Non-interest expense for the first quarter of 2026 totaled $29.9 million, an increase of $2.7 million or 10.1%, when compared to the same period last year. In the first quarter of 2026, noninterest expense was increased by $0.4 million of non-recurring adjustments related to acquisition expenses resulting from the merger with FSB that closed in November 2025. These expenses are recorded in other noninterest expenses.

•

Compensation expense increased $2.2 million for the first quarter of 2026 compared to the same period last year, primarily due to increases in salaries, commissions, and medical expenses associated from operating with higher full-time equivalent (FTE) employees year-over-year.

•

The quarter-to-date average number of FTE employees was 535 at March 31, 2026, compared with an average number of 520 for the same period in 2025.

•

Other expenses increased $0.5 million for the first quarter of 2026 compared to the same period last year, mainly due to the aforementioned acquisition-related expenses.

•

The efficiency ratio was 60.1% for the quarter ended March 31, 2026, compared to 64.9% for the same period last year. The change in the efficiency ratio is primarily due to a 10.1% increase in non-interest expenses, mostly offset by a 15.4% increase in net interest income and a 20.0% increase in non-interest income.

Taxes

Civista’s effective income tax rate for the first quarter of 2026 was 16.8% compared to 14.8% for the same period last year.

Capital

Total shareholders’ equity at March 31, 2026, totaled $552.2 million, an increase of $8.8 million from December 31, 2025. This resulted from an increase of $11.3 million in retained earnings, partially offset by an increase in accumulated other comprehensive loss of $2.9 million resulting from the change in the unrealized loss on available-for-sale securities portfolio.

Civista did not repurchase any shares in the first quarter of 2026 as the current repurchase plan is set to expire in April 2027. For the three months ended March 31, 2026, Civista liquidated 14,504 shares held by employees, at an average price of $21.94 per share, to satisfy tax obligations stemming from vesting of restricted shares.

Conference Call and Webcast

Civista Bancshares, Inc. will also host a conference call to discuss the Company's financial results for the first quarter of 2026 at 1:00 p.m. ET on Wednesday, April 22, 2026. Interested parties can access the live webcast of the conference call through the Investor Relations section of the Company's website, www.civb.com. Participants can also listen to the conference call by dialing 800-836-8184 and ask to be joined into the Civista Bancshares, Inc. first quarter 2026 earnings call. Please log in or dial in at least 10 minutes prior to the start time to ensure a connection. An archive of the webcast will be available for one year on the Investor Relations section of the Company's website (www.civb.com).

About Civista Bancshares

Civista Bancshares, Inc., is a $4.3 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, and wealth management services. Today, Civista Bank operates 44 locations across Ohio, Southeastern Indiana and Northern Kentucky. Civista Bank also offers commercial equipment leasing services for businesses nationwide through its Civista Leasing and Finance Division. Civista Bancshares’ common shares are traded on the NASDAQ Capital Market under the symbol “CIVB”. Learn more at www.civb.com.

Forward Looking Statements

This press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of Civista. For these statements, Civista claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Civista, including the information in the filings we make with the Securities and Exchange Commission. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as “anticipate,” “estimate,” “project,” “intend,” “plan,” “believe,” “will” and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in Civista’s reports filed with the Securities and Exchange Commission, including those described in “Item 1A Risk Factors” of Part I of Civista’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and any additional risks identified in the Company’s subsequent Form 10-Q’s. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Civista does not undertake, and specifically disclaims any obligation, to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.

Non-GAAP Financial Measures

This press release and related materials may contain references to measures which are not defined in generally accepted accounting principles ("GAAP"). These financial measures have been included as they provide meaningful supplemental information to assess trends in the Corporation's results of operations. Certain non-GAAP financial measures discussed earlier in this release, including efficiency ratio, net interest margin, tangible book value per share, and related ratios, are identified in the accompanying financial tables. Management believes these measures are meaningful because they reflect adjustments commonly made by management, investors, regulators, and analysts to evaluate the adequacy of earnings per common share, provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.

For additional information, contact:

Dennis G. Shaffer

CEO and President

Civista Bancshares, Inc.

888-645-4121


Average Balance Analysis
(Unaudited - Dollars in thousands)

	Three Months Ended March 31,
	2026								2025
	Average					Yield/			Average					Yield/
Assets:	balance			Interest		rate *			balance			Interest		rate *
Interest-earning assets:
Loans **	$	3,252,342		$	49,230		6.14	%	$	3,099,440			47,646		6.23	%
Taxable securities ***		432,760			3,954		3.49	%		396,893			3,555		3.31	%
Non-taxable securities ***		285,277			2,303		3.94	%		286,481			2,340		3.91	%
Interest-bearing deposits in other banks		32,765			322		3.91	%		18,895			192		4.13	%
Total interest-earning assets ***	$	4,003,144		$	55,809		5.66	%	$	3,801,709		$	53,733		5.71	%
Noninterest-earning assets:
Cash and due from financial institutions		39,130								43,203
Premises and equipment, net		39,989								46,404
Accrued interest receivable		14,196								13,567
Intangible assets		143,272								133,268
Bank owned life insurance		63,287								62,916
Other assets		51,682								58,588
Less allowance for loan losses		(41,663	)							(39,956	)
Total Assets	$	4,313,037							$	4,119,699

Liabilities and Shareholders' Equity:
Interest-bearing liabilities:
Demand and savings	$	1,655,416		$	5,431		1.33	%	$	1,578,949		$	5,729		1.47	%
Time		1,110,357			10,022		3.66	%		959,611			9,987		4.22	%
Short-term FHLB borrowings		148,656			1,348		3.68	%		355,589			3,929		4.48	%
Long-term FHLB borrowings		781			5		2.73	%		1,408			9		2.56	%
Other borrowings		3,913			72		7.50	%		6,430			145		9.14	%
Subordinated debentures		104,249			1,108		4.31	%		104,103			1,161		4.52	%
Total interest-bearing liabilities	$	3,023,372		$	17,986		2.41	%	$	3,006,090		$	20,960		2.83	%
Non-interest-bearing deposits		695,429								670,774
Other liabilities		40,296								45,814
Shareholders' equity		553,940								397,021
Total Liabilities and Shareholders' Equity	$	4,313,037							$	4,119,699

Net interest income and interest rate spread				$	37,823		3.25	%				$	32,773		2.88	%

Net interest margin ***							3.85	%							3.51	%

* - Average yields are presented on a tax equivalent basis. The tax equivalent effect associated with loans and investments, included in the yields above, was $612 thousand and $622 thousand for the periods ended March 31, 2026 and 2025, respectively.
** - Average balance includes nonaccrual loans
*** - Average yield on investments were calculated by adjusting the average balances of taxable and nontaxable securities by unrealized losses of $41.3 million and $59.2 million, respectively. These adjustments were also made when calculating the yield on earning assets and the margin.


Non-interest income
(unaudited - dollars in thousands)	Three months ended March 31,
	2026		2025			$ Change			% Change
Service charges	$	1,714	$	1,524		$	190			12.5	%
Net gain (loss) on equity securities		33		(29	)		62			213.8	%
Net gain on sale of loans and leases		1,605		604			1,001			165.7	%
ATM/Interchange fees		1,386		1,326			60			4.5	%
Wealth management fees		1,433		1,340			93			6.9	%
Lease revenue and residual income		1,630		1,896			(266	)		-14.0	%
Bank owned life insurance		390		387			3			0.8	%
Swap fees		56		72			(16	)		-22.2	%
Other		1,184		740			444			60.0	%
Total non-interest income	$	9,431	$	7,860		$	1,571			20.0	%


Non-interest expense
(unaudited - dollars in thousands)	Three months ended March 31,
	2026		2025		$ Change			% Change
Compensation expense	$	16,229	$	14,043	$	2,186			15.6	%
Net occupancy expense		1,623		1,634		(11	)		-0.7	%
Contracted data processing		730		567		163			28.7	%
FDIC assessment		423		873		(450	)		-51.5	%
State franchise tax		554		526		28			5.3	%
Professional services		1,585		2,090		(505	)		-24.2	%
Equipment expense		2,089		2,103		(14	)		-0.7	%
ATM/Interchange expense		732		580		152			26.2	%
Marketing		478		296		182			61.5	%
Amortization of core deposit intangible		696		332		364			109.6	%
Software maintenance expense		1,475		1,277		198			15.5	%
Other		3,259		2,805		454			16.2	%
Total non-interest expense	$	29,873	$	27,126	$	2,747			10.1	%


End of period loan and lease balances
(unaudited - dollars in thousands)
	March 31,		December 31,
	2026		2025		$ Change			% Change
Commercial and Agriculture	$	310,400	$	308,692	$	1,708			0.6	%
Commercial Real Estate:
Owner Occupied		390,786		385,547		5,239			1.4	%
Non-owner Occupied		1,232,781		1,239,017		(6,236	)		-0.5	%
Residential Real Estate		943,425		944,328		(903	)		-0.1	%
Real Estate Construction		254,254		285,137		(30,883	)		-10.8	%
Farm Real Estate		32,700		37,775		(5,075	)		-13.4	%
Lease financing receivable		32,693		35,103		(2,410	)		-6.9	%
Consumer and Other		32,628		34,447		(1,819	)		-5.3	%
Total Loans	$	3,229,667	$	3,270,046	$	(40,379	)		-1.2	%


End of period deposit balances
(unaudited - dollars in thousands)
	March 31,		December 31,
	2026		2025		$ Change			% Change
Noninterest-bearing demand	$	703,778	$	702,032	$	1,746			0.2	%
Interest-bearing demand		419,295		400,403		18,892			4.7	%
Savings and money market		1,291,253		1,234,593		56,660			4.6	%
Time deposits		710,423		727,294		(16,871	)		-2.3	%
Brokered deposits		377,141		402,142		(25,001	)		-6.2	%
Total Deposits	$	3,501,890	$	3,466,464	$	35,426			1.0	%


Allowance for Credit Losses
(dollars in thousands)
	Three months ended March 31,
	2026			2025
Beginning of period	$	42,020		$	39,669
Charge-offs		(806	)		(976	)
Recoveries		90			343
Provision		(768	)		1,248
End of period	$	40,536		$	40,284


Allowance for Unfunded Commitments
(dollars in thousands)
	Three months ended March 31,
	2026		2025
Beginning of period	$	3,236	$	3,380
Provision		139		319
End of period	$	3,375	$	3,699


(dollars in thousands)	March 31,		December 31,
	2026		2025
Non-accrual loans	$	29,400	$	30,834
Restructured loans, accruing		538		14
90+ Days Past Due, Still Accruing		229		462
Total non-performing loans		30,167		31,310
Other Real Estate Owned		-		-
Total non-performing assets	$	30,167	$	31,310

Civista Bancshares, Inc.

Financial Highlights

(Unaudited, dollars in thousands, except share and per share amounts)


Consolidated Condensed Statement of Operations

	Three Months Ended
	March 31,
	2026			2025

Interest income	$	55,809		$	53,733
Interest expense		17,986			20,960
Net interest income		37,823			32,773
Provision for credit losses		(768	)		1,248
Provision for unfunded commitments		139			319
Net interest income after provision		38,452			31,206
Non-interest income		9,431			7,860
Non-interest expense		29,873			27,126
Income before taxes		18,010			11,940
Income tax expense		3,021			1,772
Net income		14,989			10,168
Net income available
to common shareholders	$	14,989		$	10,168

Dividends paid per common share	$	0.18		$	0.17

Earnings per common share
Basic
Net income	$	14,989		$	10,168
Less allocation of earnings and
dividends to participating securities		28			44
Net income available to common
shareholders - basic	$	14,961		$	10,124
Weighted average common shares outstanding		20,745,499			15,488,813
Less average participating securities		39,169			66,711
Weighted average number of shares outstanding
used to calculate basic earnings per share		20,706,330			15,422,102

Earnings per common share
Basic	$	0.72		$	0.66
Diluted	$	0.72			0.66


Selected financial ratios:
Return on average assets	1.41	%	1.00	%
Return on average equity	10.97	%	10.39	%
Dividend payout ratio	24.91	%	25.90	%
Net interest margin (tax equivalent)	3.85	%	3.51	%
Effective tax rate	16.77	%	14.84	%


Selected Balance Sheet Items
(Dollars in thousands, except share and per share amounts)

	March 31,			December 31,
	2026			2025
	(unaudited)			(unaudited)

Cash and due from financial institutions	$	83,525		$	77,320
Investment in time deposits		2,880			1,165
Investment securities		682,462			684,600
Loans held for sale		6,940			7,180
Loans		3,229,667			3,270,046
Less: allowance for credit losses		(40,536	)		(42,020	)
Net loans		3,189,131			3,228,026
Other securities		25,144			25,942
Premises and equipment, net		39,055			40,611
Goodwill and other intangibles		142,774			143,538
Bank owned life insurance		63,543			63,153
Other assets		62,868			64,918
Total assets	$	4,298,322		$	4,336,453

Total deposits	$	3,501,890		$	3,466,464
Short-term Federal Home Loan Bank advances		100,000			175,000
Long-term Federal Home Loan Bank advances		739			855
Subordinated debentures		104,276			104,234
Other borrowings		3,594			4,090
Accrued expenses and other liabilities		35,580			42,336
Total liabilities		3,746,079			3,792,979
Common shares		420,488			419,769
Retained earnings		251,041			239,784
Treasury shares		(76,082	)		(75,764	)
Accumulated other comprehensive loss		(43,204	)		(40,315	)
Total shareholders' equity		552,243			543,474
Total liabilities and shareholders' equity	$	4,298,322		$	4,336,453


	March 31,			December 31,
	2026			2025
	(unaudited)			(unaudited)

Shares outstanding at period end		20,783,348			20,746,474
Book value per share	$	26.57		$	26.20
Equity to asset ratio		12.85	%		12.53	%

Selected asset quality ratios:
Allowance for credit losses to total loans		1.26	%		1.28	%
Non-performing assets to total assets		0.70	%		0.72	%
Allowance for credit losses to non-performing loans		134.37	%		134.21	%

Non-performing asset analysis
Nonaccrual loans	$	29,400		$	30,834
Restructured loans		538			14
Other real estate owned		-			-
90+ Days Past Due, Still Accruing		229			462
Total	$	30,167		$	31,310


Supplemental Financial Information
(Unaudited - dollars in thousands except share data)

	March 31,			December 31,			September 30,			June 30,			March 31,
End of Period Balances	2026			2025			2025			2025			2025

Assets
Cash and due from banks	$	83,525		$	77,320		$	62,766		$	73,858		$	90,456
Investment in time deposits		2,880			1,165			735			715			960
Investment securities		682,462			684,600			657,189			645,228			648,537
Loans held for sale		6,940			7,180			8,012			10,733			4,324
Loans and leases		3,229,667			3,270,046			3,095,994			3,151,124			3,104,036
Allowance for credit losses		(40,536	)		(42,020	)		(40,254	)		(40,455	)		(40,284	)
Net Loans		3,189,131			3,228,026			3,055,740			3,110,669			3,063,752
Other securities		25,144			25,942			27,901			36,195			32,592
Premises and equipment, net		39,055			40,611			40,910			42,922			45,107
Goodwill and other intangibles		142,774			143,538			132,276			132,631			133,026
Bank owned life insurance		63,543			63,153			62,756			63,555			63,170
Other assets		62,868			64,918			65,049			69,363			64,793
Total Assets	$	4,298,322		$	4,336,453		$	4,113,334		$	4,185,869		$	4,146,717

Liabilities
Total deposits	$	3,501,890		$	3,466,464		$	3,230,463		$	3,196,207		$	3,238,888
Federal Home Loan Bank advances - short term		100,000			175,000			232,000			433,500			360,000
Federal Home Loan Bank advances - long term		739			855			970			1,103			1,355
Subordinated debentures		104,276			104,234			104,213			104,172			104,130
Other borrowings		3,594			4,090			4,699			5,379			6,140
Accrued expenses and other liabilities		35,580			42,336			41,961			41,371			38,770
Total liabilities		3,746,079			3,792,979			3,614,306			3,781,732			3,749,283

Shareholders' Equity
Common shares		420,488			419,769			388,458			312,589			312,192
Retained earnings		251,041			239,784			230,798			221,321			212,944
Treasury shares		(76,082	)		(75,764	)		(75,760	)		(75,753	)		(75,753	)
Accumulated other comprehensive loss		(43,204	)		(40,315	)		(44,468	)		(54,020	)		(51,949	)
Total shareholders' equity		552,243			543,474			499,028			404,137			397,434

Total Liabilities and Shareholders' Equity	$	4,298,322		$	4,336,453		$	4,113,334		$	4,185,869		$	4,146,717

Shares outstanding at period end		20,783,348			20,746,474			19,312,726			15,529,342			15,519,072

Book value per share	$	26.57		$	26.20		$	25.84		$	26.02		$	25.61
Equity to asset ratio		12.85	%		12.53	%		12.13	%		9.65	%		9.58	%


	March 31,			December 31,			September 30,			June 30,			March 31,
	2026			2025			2025			2025			2025
Selected asset quality ratios:
Allowance for credit losses to total loans		1.26	%		1.28	%		1.30	%		1.28	%		1.30	%
Non-performing assets to total assets		0.70	%		0.72	%		0.55	%		0.55	%		0.75	%
Allowance for credit losses to non-performing loans		134.37	%		134.21	%		176.52	%		176.11	%		129.99	%

Non-performing asset analysis
Non-accrual loans	$	29,400		$	30,834		$	22,615		$	22,742		$	30,989
Restructured loans		538			14			12			7			-
90+ Days Past Due, Still Accruing		229			462			177			223			146
Other real estate owned		-			-			-			209			209
Total	$	30,167		$	31,310		$	22,804		$	23,181		$	31,344


Supplemental Financial Information
(Unaudited - dollars in thousands except share data)

	March 31,		December 31,		September 30,		June 30,		March 31,
Quarterly Average Balances	2026		2025		2025		2025		2025
Assets:
Earning assets	$	4,003,144	$	3,939,580	$	3,829,484	$	3,841,369	$	3,801,709
Securities		718,037		694,263		676,938		682,035		683,374
Loans		3,252,342		3,197,327		3,128,033		3,136,091		3,099,440
Liabilities and Shareholders' Equity
Total deposits	$	3,461,202	$	3,424,018	$	3,237,025	$	3,190,592	$	3,209,277
Interest-bearing deposits		2,765,773		2,717,751		2,574,153		2,538,500		2,538,561
Other interest-bearing liabilities		257,599		256,899		383,305		523,824		461,100
Total shareholders' equity		553,940		525,673		472,993		400,915		397,021


Supplemental Financial Information
(Unaudited - dollars in thousands)

	March 31,		December 31,		September 30,		June 30,		March 31,
End of period loan and lease balances	2026		2025		2025		2025		2025
Commercial and Agriculture	$	310,400	$	308,692	$	302,407	$	338,598	$	330,627
Commercial Real Estate:
Owner Occupied		390,786		385,547		384,176		378,248		378,095
Non-owner Occupied		1,232,781		1,239,017		1,216,031		1,263,612		1,246,025
Residential Real Estate		943,425		944,328		842,362		815,408		773,349
Real Estate Construction		254,254		285,137		278,163		277,643		297,589
Farm Real Estate		32,700		37,775		23,713		23,866		22,399
Lease financing receivable		32,693		35,103		38,960		42,758		44,570
Consumer and Other		32,628		34,447		10,182		10,991		11,382
Total Loans	$	3,229,667	$	3,270,046	$	3,095,994	$	3,151,124	$	3,104,036


Supplemental Financial Information
(Unaudited - dollars in thousands)

	March 31,		December 31,		September 30,		June 30,		March 31,
End of period deposit balances	2026		2025		2025		2025		2025
Noninterest-bearing demand	$	703,778	$	702,032	$	651,934	$	647,609	$	648,683
Interest-bearing demand		419,295		400,403		415,620		433,089		467,601
Savings and money market		1,291,253		1,234,593		1,129,985		1,100,660		1,146,480
Time deposits		710,423		727,294		601,757		560,702		515,910
Brokered deposits		377,141		402,142		431,167		454,147		460,214
Total Deposits	$	3,501,890	$	3,466,464	$	3,230,463	$	3,196,207	$	3,238,888


Supplemental Financial Information
(Unaudited - dollars in thousands except share data)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Income statement	2026			2025			2025			2025			2025

Total interest and dividend income	$	55,809		$	55,741		$	55,240		$	56,271		$	53,733
Total interest expense		17,986			19,290			20,695			21,457			20,960
Net interest income		37,823			36,451			34,545			34,814			32,773
Provision for credit losses		(768	)		724			378			1,171			1,248
Provision for unfunded commitments		139			(139	)		(178	)		(146	)		319
Non-interest income		9,431			9,884			9,633			6,589			7,860
Non-interest expense		29,873			31,003			28,327			27,482			27,126
Income before taxes		18,010			14,747			15,651			12,896			11,940
Income tax expense		3,021			2,480			2,891			1,881			1,772
Net income	$	14,989		$	12,267		$	12,760		$	11,015		$	10,168
Net income available to common shareholders	$	14,989		$	12,267		$	12,760		$	11,015		$	10,168

Per share data

Earnings per common share
Basic
Net income	$	14,989		$	12,267		$	12,760		$	11,015		$	10,168
Less allocation of earnings and
dividends to participating securities		28			48			61			45			44
Net income available to common shareholders - basic	$	14,961		$	12,219		$	12,699		$	10,970		$	10,124

Weighted average common shares outstanding		20,745,499			20,185,285			18,767,307			15,524,490			15,488,813
Less average participating securities		39,169			90,281			91,743			96,692			66,711
Weighted average number of shares outstanding used to calculate basic earnings per share		20,706,330			20,095,004			18,675,564			15,427,798			15,422,102

Earnings per common share
Basic	$	0.72		$	0.61		$	0.68		$	0.71		$	0.66
Diluted	$	0.72		$	0.61		$	0.68		$	0.71		$	0.66

Common shares dividend paid	$	3,732		$	3,283		$	3,283		$	2,638		$	2,636
Dividends paid per common share		0.18			0.17			0.17			0.17			0.17


	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Selected financial ratios	2026			2025			2025			2025			2025

Return on average assets		1.41	%		1.14	%		1.22	%		1.06	%		1.00	%
Return on average equity		10.97	%		9.26	%		10.70	%		11.02	%		10.39	%
Dividend payout ratio		24.91	%		27.97	%		25.00	%		23.96	%		25.90	%
Net interest margin (tax equivalent)		3.85	%		3.69	%		3.58	%		3.64	%		3.51	%
Effective tax rate		16.77	%		16.82	%		18.47	%		14.59	%		14.84	%


Supplemental Financial Information
(Unaudited - dollars in thousands)

	Three Months Ended
	March 31,		December 31,		September 30,		June 30,			March 31,
Non-interest income	2026		2025		2025		2025			2025
Service charges	$	1,714	$	1,706	$	1,667	$	1,564		$	1,524
Net gain (loss) on equity securities		33		120		255		(74	)		(29	)
Net gain on sale of loans and leases		1,605		1,594		1,450		841			604
ATM/Interchange fees		1,386		1,722		1,435		1,418			1,326
Wealth management fees		1,433		1,473		1,402		1,325			1,340
Lease revenue and residual income		1,630		1,518		1,934		525			1,896
Bank owned life insurance		390		397		666		386			387
Swap fees		56		150		-		53			72
Other		1,184		1,204		824		551			740
Total non-interest income	$	9,431	$	9,884	$	9,633	$	6,589		$	7,860


Supplemental Financial Information
(Unaudited - dollars in thousands)

	Three Months Ended
	March 31,		December 31,		September 30,		June 30,		March 31,
Non-interest expense	2026		2025		2025		2025		2025
Compensation expense	$	16,229	$	14,526	$	15,161	$	15,011	$	14,043
Net occupancy expense		1,623		1,410		1,466		1,419		1,634
Contracted data processing		730		672		559		536		567
FDIC assessment		423		493		627		689		873
State franchise tax		554		343		536		634		526
Professional services		1,585		1,467		1,225		1,798		2,090
Equipment expense		2,089		2,032		2,205		1,764		2,103
ATM/Interchange expense		732		710		755		683		580
Marketing		478		410		391		289		296
Amortization of core deposit intangible		696		576		318		338		332
Software maintenance expense		1,475		1,411		1,480		1,294		1,277
Other		3,259		6,953		3,604		3,027		2,805
Total non-interest expense	$	29,873	$	31,003	$	28,327	$	27,482	$	27,126


Supplemental Financial Information
(Unaudited - dollars in thousands except share data)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Asset quality	2026			2025			2025			2025			2025

Allowance for credit losses:
Beginning of period	$	42,020		$	40,254		$	40,455		$	40,284		$	39,669
CECL Day 1 Adjustment FSB		-			1,960			-			-			-
Charge-offs		(806	)		(1,064	)		(662	)		(1,092	)		(976	)
Recoveries		90			146			83			92			343
Provision		(768	)		724			378			1,171			1,248
End of period	$	40,536		$	42,020		$	40,254		$	40,455		$	40,284
Allowance for unfunded commitments:
Beginning of period	$	3,236		$	3,375		$	3,553		$	3,699		$	3,380
Charge-offs		-			-			-			-			-
Recoveries		-			-			-			-			-
Provision		139			(139	)		(178	)		(146	)		319
End of period	$	3,375		$	3,236		$	3,375		$	3,553		$	3,699

Ratios
Allowance to total loans		1.26	%		1.28	%		1.30	%		1.28	%		1.30	%
Allowance to nonperforming assets		134.37	%		134.29	%		176.52	%		174.52	%		129.12	%
Allowance to nonperforming loans		134.37	%		134.29	%		176.52	%		176.11	%		129.99	%

Nonperforming assets
Non-accrual loans	$	29,400		$	30,815		$	22,615		$	22,742		$	30,989
Restructured loans		538			14			12			7			-
90+ Days Past Due, Still Accruing		229			461			177			223			-
Total non-performing loans		30,167			31,290			22,804			22,972			30,989
Other Real Estate Owned		-			-			-			209			209
Total non-performing assets	$	30,167		$	31,290		$	22,804		$	23,181		$	31,198



	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Capital and liquidity	2026			2025			2025			2025			2025

Tier 1 leverage ratio		11.57	%		11.32	%		10.96	%		8.80	%		8.66	%
Tier 1 risk-based capital ratio		15.12	%		14.51	%		14.19	%		11.18	%		10.97	%
Total risk-based capital ratio		18.67	%		18.02	%		17.80	%		14.73	%		14.53	%
Tangible common equity ratio (1)		9.85	%		9.54	%		9.21	%		6.70	%		6.59	%

(1) See reconciliation of non-GAAP measures at the end of this press release.


Reconciliation of Non-GAAP Financial Measures
(Unaudited - dollars in thousands except share data)

	March 31,			December 31,			September 30,			June 30,			March 31,
	2026			2025			2025			2025			2025

Tangible Common Equity
Total Shareholder's Equity - GAAP	$	552,243		$	543,474		$	499,028		$	404,137		$	397,434
Less: Preferred Equity		-			-			-			-			-
Less: Goodwill and intangible assets		142,774			143,538			132,276			132,631			133,026
Tangible common equity (Non-GAAP)	$	409,469		$	399,936		$	366,752		$	271,506		$	264,408

Total Shares Outstanding		20,783,348			20,746,474			19,312,726			15,529,342			15,519,072

Tangible book value per share	$	19.70		$	19.28		$	18.99		$	17.48		$	17.04

Tangible Assets
Total Assets - GAAP	$	4,298,322		$	4,336,453		$	4,113,334		$	4,185,869		$	4,146,717
Less: Goodwill and intangible assets		142,774			143,538			132,276			132,631			133,026
Tangible assets (Non-GAAP)	$	4,155,548		$	4,192,915		$	3,981,058		$	4,053,238		$	4,013,691

Tangible common equity to tangible assets		9.85	%		9.54	%		9.21	%		6.70	%		6.59	%


Reconciliation of Non-GAAP Financial Measures
(Unaudited - dollars in thousands except share data)

	Three Months Ended
	March 31,
Efficiency ratio (non-GAAP):	2026			2025

Noninterest expense (GAAP)	$	29,873		$	27,126
Less: Amortization of intangible assets expense		696			332
Less: Acquisition related expenses		427			-
Noninterest expense (non-GAAP)	$	28,750		$	26,794

Net interest income (GAAP)	$	37,823		$	32,773
Plus: Taxable equivalent adjustment		612			622
Noninterest income (GAAP)		9,431			7,860
Less: Net gains (losses) on equity securities		33			(29	)
Net interest income (FTE) plus non-interest income (non-GAAP)	$	47,833		$	41,284

Efficiency ratio (non-GAAP)		60.1	%		64.9	%


Reconciliation of Non-GAAP Financial Measures
(Unaudited - dollars in thousands except share data)

	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Efficiency ratio (non-GAAP):	2026			2025			2025			2025			2025

Noninterest expense (GAAP)	$	29,873		$	31,003		$	28,327		$	27,482		$	27,126
Less: Amortization of intangible assets expense		696			576			318			339			332
Less: Acquisition related expenses		427			3,424			664			5			-
Noninterest expense (non-GAAP)	$	28,750		$	27,003		$	27,345		$	27,138		$	26,794

Net interest income (GAAP)	$	37,823		$	36,451		$	34,545		$	34,814		$	32,773
Plus: Taxable equivalent adjustment		612			620			618			621			622
Noninterest income (GAAP)		9,431			9,884			9,633			6,589			7,860
Less: Net gains (losses) on equity securities		33			120			255			(74	)		(29	)
Net interest income (FTE) plus non-interest income (non-GAAP)	$	47,833		$	46,835		$	44,541		$	42,098		$	41,284

Efficiency ratio (non-GAAP)		60.1	%		57.7	%		61.4	%		64.5	%		64.9	%





	Three Months Ended
	March 31,			December 31,			September 30,			June 30,			March 31,
Net interest margin (non-GAAP):	2026			2025			2025			2025			2025

Net interest income (GAAP)	$	37,823		$	36,451		$	34,545		$	34,814		$	32,773
Tax-equivalent adjustment		612			620			618			621			622
Net interest income (tax-equivalent)		38,435			37,071			35,163			35,435			33,395

Average earning assets (GAAP)	$	4,003,144		$	3,939,580		$	3,829,484		$	3,841,369		$	3,801,709
Unrealized loss adjustment		41,288			46,944			62,947			64,110			59,117
Adjusted average earning assets		4,044,432			3,986,524			3,892,431			3,905,479			3,860,826

Net interest margin (Non-GAAP)		3.85	%		3.69	%		3.58	%		3.64	%		3.51	%


Supplemental Financial Information
Consolidated Condensed Statement of Operations
(Unaudited - dollars in thousands except share data)

	Three Months Ended
	March 31, 2026
				Non-Recurring
	As Reported			Adjustments			As Adjusted

Interest income	$	55,809		$	-		$	55,809
Interest expense		17,986			-			17,986
Net interest income		37,823			-			37,823
Provision for credit losses		(768	)		-			(768	)
Provision for unfunded commitments		139			-			139
Net interest income after provision		38,452			-			38,452
Non-interest income		9,431			-			9,431
Non-interest expense		29,873			427			29,446
Income before taxes		18,010			(427	)		18,437
Income tax expense		3,021			(69	)		3,090
Net income	$	14,989		$	(358	)	$	15,347



Earnings per common share
Basic	$	0.72		$	(0.02	)	$	0.74
Diluted	$	0.72		$	(0.02	)	$	0.74


Supplemental Financial Information
Consolidated Condensed Statement of Operations
(Unaudited - dollars in thousands except share data)

	Three Months Ended
As Reported	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025

Interest income	$	55,809		$	55,741		$	55,240		$	56,271
Interest expense		17,986			19,290			20,695			21,457
Net interest income		37,823			36,451			34,545			34,814
Provision for credit losses		(768	)		724			378			1,171
Provision for unfunded commitments		139			(139	)		(178	)		(146	)
Net interest income after provision		38,452			35,866			34,345			33,789
Non-interest income		9,431			9,884			9,633			6,589
Non-interest expense		29,873			31,003			28,327			27,482
Income before taxes		18,010			14,747			15,651			12,896
Income tax expense		3,021			2,480			2,891			1,881
Net income	$	14,989		$	12,267		$	12,760		$	11,015

Earnings per common share
Basic	$	0.72		$	0.61		$	0.68		$	0.71
Diluted	$	0.72		$	0.61		$	0.68		$	0.71
Net Interest Margin		3.85	%		3.69	%		3.58	%		3.64	%

As Adjusted
Interest income	$	55,809		$	55,741		$	55,240		$	54,650
Interest expense		17,986			19,290			20,695			21,457
Net interest income		37,823			36,451			34,545			33,193
Provision for credit losses		(768	)		724			378			1,171
Provision for unfunded commitments		139			(139	)		(178	)		(146	)
Net interest income after provision		38,452			35,866			34,345			32,168
Non-interest income		9,431			9,884			9,633			7,633
Non-interest expense		29,446			27,579			27,663			27,793
Income before taxes		18,437			18,171			16,315			12,008
Income tax expense		3,090			3,048			3,001			1,750
Net income	$	15,347		$	15,123		$	13,314		$	10,258

Earnings per common share
Basic	$	0.74		$	0.75		$	0.71		$	0.66
Diluted	$	0.74		$	0.75		$	0.71		$	0.66
Net Interest Margin		3.85	%		3.69	%		3.58	%		3.47	%


	Three Months Ended
Non-Recurring Adjustments	March 31, 2026			December 31, 2025			September 30, 2025			June 30, 2025
Interest income	$	-		$	-		$	-		$	1,621
Interest expense		-			-			-			-
Net interest income		-			-			-			1,621
Provision for credit losses		-			-			-			-
Provision for unfunded commitments		-			-			-			-
Net interest income after provision		-			-			-			1,621
Non-interest income		-			-			-			(1,044	)
Non-interest expense		427			3,424			664			(311	)
Income before taxes		(427	)		(3,424	)		(664	)		888
Income tax expense		(69	)		(568	)		(110	)		131
Net income	$	(358	)	$	(2,856	)	$	(554	)	$	757

Earnings per common share
Basic	$	(0.02	)	$	(0.14	)	$	(0.03	)	$	0.05
Diluted	$	(0.02	)	$	(0.14	)	$	(0.03	)	$	0.05
Net Interest Margin		0.00	%		0.00	%		0.00	%		0.17	%

Non-recurring adjustments summary:

First-Quarter 2026

The quarter ended March 31, 2026 was negatively impacted by non-recurring adjustments related to acquisition related expenses in conjunction with the previously announced merger with The Farmers Savings Bank that successfully closed in the fourth quarter of 2025. The expenses impacted net income for the quarter ended March
31, 2026 by approximately $0.4 million on a pre-tax basis.

Fourth-Quarter 2025

The quarter ended December 31, 2025 was negatively impacted by non-recurring adjustments related to acquisition related expenses in conjunction with the previously announced merger with The Farmers Savings Bank that successfully closed in the fourth quarter of 2025. The expenses impacted net income for the quarter ended December
31, 2025 by approximately $3.4 million on a pre-tax basis.

Third-Quarter 2025

The quarter ended September 30, 2025 was negatively impacted by non-recurring adjustments related to acquisition related expenses in conjunction with the previously announced merger with The Farmers Savings Bank that is successfully closed in the fourth quarter of 2025. The expenses impacted net income for the quarter ended September 30, 2025 by approximately $0.7 million on a pre-tax basis.

Second-Quarter 2025

The quarter ended June 30, 2025 was positively impacted by non-recurring adjustments to our loan and lease portfolio resulting from a core system conversion during the second quarter of 2025, which positively impacted net
income for the quarter ended June 30, 2025 by approximately $0.6 million on a pre-tax basis, and the release of a reserve established in the third-quarter of 2024 for a reconciling item associated with a system conversion, which positively impacted net income for the quarter ended June 30, 2025 by approximately $0.3 million on a pre-tax basis.