# EDGAR Filing Document

**Accession Number:** 0000944745
**File Stem:** 0001193125-26-168376
**Filing Date:** 2026-4
**Character Count:** 74348
**Document Hash:** dcaf3cd34dee13bb2fd905cdbb9a3acc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-168376.hdr.sgml**: 20260422

**ACCESSION NUMBER**: 0001193125-26-168376

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260422

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260422

**DATE AS OF CHANGE**: 20260422

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CIVISTA BANCSHARES, INC.
- **CENTRAL INDEX KEY:** 0000944745
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 341558688
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36192
- **FILM NUMBER:** 26881293

**BUSINESS ADDRESS:**
- **STREET 1:** 100 EAST WATER ST
- **STREET 2:** P O BOX 5016
- **CITY:** SANDUSKY
- **STATE:** OH
- **ZIP:** 44870
- **BUSINESS PHONE:** 4196254121

**MAIL ADDRESS:**
- **STREET 1:** 100 EAST WATER ST
- **STREET 2:** P O BOX 5016
- **CITY:** SANDUSKY
- **STATE:** OH
- **ZIP:** 44870

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST CITIZENS BANC CORP /OH
- **DATE OF NAME CHANGE:** 19950502

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** April 22, 2026<br>

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Civista Bancshares, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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---

| | | |
|:---|:---|:---|
| Ohio | 001-36192 | 34-1558688 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 100 East Water Street |  |  |
| Sandusky**,** Ohio |  | 44870 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** (419) 625 - 4121<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common shares, no par value | CIVB | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On April 22, 2026, Civista Bancshares, Inc. announced preliminary unaudited earnings for the three-month period ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

## Item 9.01 Financial Statements and Exhibits.
(d) Exhibit 99.1 [<u>Press release of Civista Bancshares, Inc. reporting financial results and earnings for the three-month period ended March 31, 2026</u>](civb-ex99_1.htm)

Exhibit 104 Cover Page Interactive File-the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | Civista Bancshares, Inc. |
| Date: | April 22, 2026 | By:  | /s/ Ian Whinnem |
|  |  |  | Ian Whinnem,<br>Senior Vice President & Chief Financial Officer |

---

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## Exhibit 99.1

**EXHIBIT 99.1**

![img12893331_0.jpg](img12893331_0.jpg)

**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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**<u>CEO Commentary:</u>**

"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."

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**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**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allowance for credit losses on loans / total loans of 1.26%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Tangible book value per share was $19.70 at March 31, 2026.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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%.

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**Assets**

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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

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**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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**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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•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.

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**<u>Conference Call and Webcast</u>**

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 (<u>www.civb.com</u>).

**<u>About Civista Bancshares</u>**

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 <u>www.civb.com</u>.

**<u>Forward Looking Statements</u>**

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.

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**<u>Non-GAAP Financial Measures</u>**

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

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Average Balance Analysis | Average Balance Analysis | Average Balance Analysis | Average Balance Analysis | Average Balance Analysis | Average Balance Analysis | Average Balance Analysis |
| (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) | (Unaudited - Dollars in thousands) |
|  | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended March 31, |
|  | 2026 | 2026 | 2026 | 2025 | 2025 | 2025 |
|  | Average |  | Yield/ | Average |  | Yield/ |
| <u>Assets:</u> | balance | Interest | rate \* | balance | Interest | rate \* |
| Interest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans \*\* | $3252342 | $49230 | 6.14% | $3099440 | 47646 | 6.23% |
| &nbsp;&nbsp;Taxable securities \*\*\* | 432760 | 3954 | 3.49% | 396893 | 3555 | 3.31% |
| &nbsp;&nbsp;Non-taxable securities \*\*\* | 285277 | 2303 | 3.94% | 286481 | 2340 | 3.91% |
| &nbsp;&nbsp;Interest-bearing deposits in other banks | 32765 | 322 | 3.91% | 18895 | 192 | 4.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets \*\*\* | $4003144 | $55809 | 5.66% | $3801709 | $53733 | 5.71% |
| Noninterest-earning assets: |  |  |  |  |  |  |
| &nbsp;&nbsp;Cash and due from financial institutions | 39130 |  |  | 43203 |  |  |
| &nbsp;&nbsp;Premises and equipment, net | 39989 |  |  | 46404 |  |  |
| &nbsp;&nbsp;Accrued interest receivable | 14196 |  |  | 13567 |  |  |
| &nbsp;&nbsp;Intangible assets | 143272 |  |  | 133268 |  |  |
| &nbsp;&nbsp;Bank owned life insurance | 63287 |  |  | 62916 |  |  |
| &nbsp;&nbsp;Other assets | 51682 |  |  | 58588 |  |  |
| &nbsp;&nbsp;Less allowance for loan losses | (41663) |  |  | (39956) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets | $4313037 |  |  | $4119699 |  |  |
| <u>Liabilities and Shareholders' Equity:</u> |  |  |  |  |  |  |
| Interest-bearing liabilities: |  |  |  |  |  |  |
| &nbsp;&nbsp;Demand and savings | $1655416 | $5431 | 1.33% | $1578949 | $5729 | 1.47% |
| &nbsp;&nbsp;Time | 1110357 | 10022 | 3.66% | 959611 | 9987 | 4.22% |
| &nbsp;&nbsp;Short-term FHLB borrowings | 148656 | 1348 | 3.68% | 355589 | 3929 | 4.48% |
| &nbsp;&nbsp;Long-term FHLB borrowings | 781 | 5 | 2.73% | 1408 | 9 | 2.56% |
| &nbsp;&nbsp;Other borrowings | 3913 | 72 | 7.50% | 6430 | 145 | 9.14% |
| &nbsp;&nbsp;Subordinated debentures | 104249 | 1108 | 4.31% | 104103 | 1161 | 4.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | $3023372 | $17986 | 2.41% | $3006090 | $20960 | 2.83% |
| Non-interest-bearing deposits | 695429 |  |  | 670774 |  |  |
| Other liabilities | 40296 |  |  | 45814 |  |  |
| Shareholders' equity | 553940 |  |  | 397021 |  |  |
| Total Liabilities and Shareholders' Equity | $4313037 |  |  | $4119699 |  |  |
| Net interest income and interest rate spread |  | $37823 | 3.25% |  | $32773 | 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 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 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 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 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 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 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 balance includes nonaccrual loans | \*\* - Average balance includes nonaccrual loans | \*\* - Average balance includes nonaccrual loans | \*\* - Average balance includes nonaccrual loans | \*\* - Average balance includes nonaccrual loans | \*\* - 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. | \*\*\* - 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. | \*\*\* - 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. | \*\*\* - 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. | \*\*\* - 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. | \*\*\* - 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. | \*\*\* - 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. |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Non-interest income** |  |  |  |  |
| (unaudited - dollars in thousands) | Three months ended March 31, | Three months ended March 31, | Three months ended March 31, | Three months ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Service charges | $1714 | $1524 | $190 | 12.5% |
| Net gain (loss) on equity securities | 33 | (29) | 62 | 213.8% |
| Net gain on sale of loans and leases | 1605 | 604 | 1001 | 165.7% |
| ATM/Interchange fees | 1386 | 1326 | 60 | 4.5% |
| Wealth management fees | 1433 | 1340 | 93 | 6.9% |
| Lease revenue and residual income | 1630 | 1896 | (266) | -14.0% |
| Bank owned life insurance | 390 | 387 | 3 | 0.8% |
| Swap fees | 56 | 72 | (16) | -22.2% |
| Other | 1184 | 740 | 444 | 60.0% |
| &nbsp;&nbsp;Total non-interest income | $9431 | $7860 | $1571 | 20.0% |

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **Non-interest expense** |  |  |  |  |
| (unaudited - dollars in thousands) | Three months ended March 31, | Three months ended March 31, | Three months ended March 31, | Three months ended March 31, |
|  | 2026 | 2025 | $ Change | % Change |
| Compensation expense | $16229 | $14043 | $2186 | 15.6% |
| Net occupancy expense | 1623 | 1634 | (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 | 1585 | 2090 | (505) | -24.2% |
| Equipment expense | 2089 | 2103 | (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 | 1475 | 1277 | 198 | 15.5% |
| Other | 3259 | 2805 | 454 | 16.2% |
| &nbsp;&nbsp;Total non-interest expense | $29873 | $27126 | $2747 | 10.1% |

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| | | | | |
|:---|:---|:---|:---|:---|
| **End of period loan and lease balances** |  |  |  |  |
| (unaudited - dollars in thousands) |  |  |  |  |
|  | March 31, | December 31, |  |  |
|  | 2026 | 2025 | $ Change | % Change |
| Commercial and Agriculture | $310400 | $308692 | $1708 | 0.6% |
| Commercial Real Estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner Occupied | 390786 | 385547 | 5239 | 1.4% |
| &nbsp;&nbsp;&nbsp;Non-owner Occupied | 1232781 | 1239017 | (6236) | -0.5% |
| Residential Real Estate | 943425 | 944328 | (903) | -0.1% |
| Real Estate Construction | 254254 | 285137 | (30883) | -10.8% |
| Farm Real Estate | 32700 | 37775 | (5075) | -13.4% |
| Lease financing receivable | 32693 | 35103 | (2410) | -6.9% |
| Consumer and Other | 32628 | 34447 | (1819) | -5.3% |
| &nbsp;&nbsp;Total Loans | $3229667 | $3270046 | $(40379) | -1.2% |

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| | | | | |
|:---|:---|:---|:---|:---|
| **End of period deposit balances** |  |  |  |  |
| (unaudited - dollars in thousands) |  |  |  |  |
|  | March 31, | December 31, |  |  |
|  | 2026 | 2025 | $ Change | % Change |
| Noninterest-bearing demand | $703778 | $702032 | $1746 | 0.2% |
| Interest-bearing demand | 419295 | 400403 | 18892 | 4.7% |
| Savings and money market | 1291253 | 1234593 | 56660 | 4.6% |
| Time deposits | 710423 | 727294 | (16871) | -2.3% |
| Brokered deposits | 377141 | 402142 | (25001) | -6.2% |
| &nbsp;&nbsp;Total Deposits | $3501890 | $3466464 | $35426 | 1.0% |

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| | | |
|:---|:---|:---|
| <u>Allowance for Credit Losses</u> |  |  |
| (dollars in thousands) |  |  |
|  | Three months ended March 31, | Three months ended March 31, |
|  | 2026 | 2025 |
| Beginning of period | $42020 | $39669 |
| &nbsp;&nbsp;&nbsp;Charge-offs | (806) | (976) |
| &nbsp;&nbsp;&nbsp;Recoveries | 90 | 343 |
| &nbsp;&nbsp;&nbsp;Provision | (768) | 1248 |
| End of period | $40536 | $40284 |

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| | | |
|:---|:---|:---|
| <u>Allowance for Unfunded Commitments</u> |  |  |
| (dollars in thousands) |  |  |
|  | Three months ended March 31, | Three months ended March 31, |
|  | 2026 | 2025 |
| Beginning of period | $3236 | $3380 |
| &nbsp;&nbsp;&nbsp;Provision | 139 | 319 |
| End of period | $3375 | $3699 |

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| | | |
|:---|:---|:---|
| (dollars in thousands) | March 31, | December 31, |
|  | 2026 | 2025 |
| Non-accrual loans | $29400 | $30834 |
| Restructured loans, accruing | 538 | 14 |
| 90+ Days Past Due, Still Accruing | 229 | 462 |
| &nbsp;&nbsp;Total non-performing loans | 30167 | 31310 |
| Other Real Estate Owned | - | - |
| &nbsp;&nbsp;Total non-performing assets | $30167 | $31310 |

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Civista Bancshares, Inc.

Financial Highlights

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

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| | | |
|:---|:---|:---|
| Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations |
|  | Three Months Ended | Three Months Ended |
|  | March 31, | March 31, |
|  | 2026 | 2025 |
| Interest income | $55809 | $53733 |
| Interest expense | 17986 | 20960 |
| &nbsp;&nbsp;Net interest income | 37823 | 32773 |
| Provision for credit losses | (768) | 1248 |
| Provision for unfunded commitments | 139 | 319 |
| &nbsp;&nbsp;Net interest income after provision | 38452 | 31206 |
| Non-interest income | 9431 | 7860 |
| Non-interest expense | 29873 | 27126 |
| &nbsp;&nbsp;Income before taxes | 18010 | 11940 |
| Income tax expense | 3021 | 1772 |
| &nbsp;&nbsp;Net income | 14989 | 10168 |
| &nbsp;&nbsp;Net income available |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;to common shareholders | $14989 | $10168 |
| Dividends paid per common share | $0.18 | $0.17 |
| Earnings per common share |  |  |
| &nbsp;&nbsp;Basic |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $14989 | $10168 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less allocation of earnings and |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dividends to participating securities | 28 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income available to common |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shareholders - basic | $14961 | $10124 |
| Weighted average common shares outstanding | 20745499 | 15488813 |
| &nbsp;&nbsp;Less average participating securities | 39169 | 66711 |
| &nbsp;&nbsp;Weighted average number of shares outstanding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;used to calculate basic earnings per share | 20706330 | 15422102 |
| Earnings per common share |  |  |
| &nbsp;&nbsp;Basic | $0.72 | $0.66 |
| &nbsp;&nbsp;Diluted | $0.72 | 0.66 |

---

---

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

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| | | |
|:---|:---|:---|
| Selected Balance Sheet Items | Selected Balance Sheet Items | Selected Balance Sheet Items |
| (Dollars in thousands, except share and per share amounts) | (Dollars in thousands, except share and per share amounts) | (Dollars in thousands, except share and per share amounts) |
|  | March 31, | December 31, |
|  | 2026 | 2025 |
|  | (unaudited) | (unaudited) |
| Cash and due from financial institutions | $83525 | $77320 |
| Investment in time deposits | 2880 | 1165 |
| Investment securities | 682462 | 684600 |
| Loans held for sale | 6940 | 7180 |
| Loans | 3229667 | 3270046 |
| &nbsp;&nbsp; Less: allowance for credit losses | (40536) | (42020) |
| Net loans | 3189131 | 3228026 |
| Other securities | 25144 | 25942 |
| Premises and equipment, net | 39055 | 40611 |
| Goodwill and other intangibles | 142774 | 143538 |
| Bank owned life insurance | 63543 | 63153 |
| Other assets | 62868 | 64918 |
| &nbsp;&nbsp;&nbsp; Total assets | $4298322 | $4336453 |
| Total deposits | $3501890 | $3466464 |
| Short-term Federal Home Loan Bank advances | 100000 | 175000 |
| Long-term Federal Home Loan Bank advances | 739 | 855 |
| Subordinated debentures | 104276 | 104234 |
| Other borrowings | 3594 | 4090 |
| Accrued expenses and other liabilities | 35580 | 42336 |
| &nbsp;&nbsp;&nbsp; Total liabilities | 3746079 | 3792979 |
| Common shares | 420488 | 419769 |
| Retained earnings | 251041 | 239784 |
| Treasury shares | (76082) | (75764) |
| Accumulated other comprehensive loss | (43204) | (40315) |
| Total shareholders' equity | 552243 | 543474 |
| &nbsp;&nbsp;&nbsp; Total liabilities and shareholders' equity | $4298322 | $4336453 |

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| | | |
|:---|:---|:---|
|  | March 31, | December 31, |
|  | 2026 | 2025 |
|  | (unaudited) | (unaudited) |
| Shares outstanding at period end | 20783348 | 20746474 |
| Book value per share | $26.57 | $26.20 |
| Equity to asset ratio | 12.85% | 12.53% |
| Selected asset quality ratios: |  |  |
| &nbsp;&nbsp;Allowance for credit losses to total loans | 1.26% | 1.28% |
| &nbsp;&nbsp;Non-performing assets to total assets | 0.70% | 0.72% |
| &nbsp;&nbsp;Allowance for credit losses to non-performing loans | 134.37% | 134.21% |
| Non-performing asset analysis |  |  |
| &nbsp;&nbsp;Nonaccrual loans | $29400 | $30834 |
| &nbsp;&nbsp;Restructured loans | 538 | 14 |
| &nbsp;&nbsp;Other real estate owned | - | - |
| &nbsp;&nbsp;90+ Days Past Due, Still Accruing | 229 | 462 |
| &nbsp;&nbsp;&nbsp;Total | $30167 | $31310 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (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 |
| **<u>Assets</u>** |  |  |  |  |  |
| Cash and due from banks | $83525 | $77320 | $62766 | $73858 | $90456 |
| Investment in time deposits | 2880 | 1165 | 735 | 715 | 960 |
| Investment securities | 682462 | 684600 | 657189 | 645228 | 648537 |
| Loans held for sale | 6940 | 7180 | 8012 | 10733 | 4324 |
| Loans and leases | 3229667 | 3270046 | 3095994 | 3151124 | 3104036 |
| Allowance for credit losses | (40536) | (42020) | (40254) | (40455) | (40284) |
| &nbsp;&nbsp;Net Loans | 3189131 | 3228026 | 3055740 | 3110669 | 3063752 |
| Other securities | 25144 | 25942 | 27901 | 36195 | 32592 |
| Premises and equipment, net | 39055 | 40611 | 40910 | 42922 | 45107 |
| Goodwill and other intangibles | 142774 | 143538 | 132276 | 132631 | 133026 |
| Bank owned life insurance | 63543 | 63153 | 62756 | 63555 | 63170 |
| Other assets | 62868 | 64918 | 65049 | 69363 | 64793 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Assets** | $4298322 | $4336453 | $4113334 | $4185869 | $4146717 |
| **<u>Liabilities</u>** |  |  |  |  |  |
| Total deposits | $3501890 | $3466464 | $3230463 | $3196207 | $3238888 |
| Federal Home Loan Bank advances - short term | 100000 | 175000 | 232000 | 433500 | 360000 |
| Federal Home Loan Bank advances - long term | 739 | 855 | 970 | 1103 | 1355 |
| Subordinated debentures | 104276 | 104234 | 104213 | 104172 | 104130 |
| Other borrowings | 3594 | 4090 | 4699 | 5379 | 6140 |
| Accrued expenses and other liabilities | 35580 | 42336 | 41961 | 41371 | 38770 |
| Total liabilities | 3746079 | 3792979 | 3614306 | 3781732 | 3749283 |
| **<u>Shareholders' Equity</u>** |  |  |  |  |  |
| Common shares | 420488 | 419769 | 388458 | 312589 | 312192 |
| Retained earnings | 251041 | 239784 | 230798 | 221321 | 212944 |
| Treasury shares | (76082) | (75764) | (75760) | (75753) | (75753) |
| Accumulated other comprehensive loss | (43204) | (40315) | (44468) | (54020) | (51949) |
| Total shareholders' equity | 552243 | 543474 | 499028 | 404137 | 397434 |
| Total Liabilities and Shareholders' Equity | $4298322 | $4336453 | $4113334 | $4185869 | $4146717 |
| Shares outstanding at period end | 20783348 | 20746474 | 19312726 | 15529342 | 15519072 |
| 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% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
|  | 2026 | 2025 | 2025 | 2025 | 2025 |
| Selected asset quality ratios: |  |  |  |  |  |
| &nbsp;&nbsp;Allowance for credit losses to total loans | 1.26% | 1.28% | 1.30% | 1.28% | 1.30% |
| &nbsp;&nbsp;Non-performing assets to total assets | 0.70% | 0.72% | 0.55% | 0.55% | 0.75% |
| &nbsp;&nbsp;Allowance for credit losses to non-performing loans | 134.37% | 134.21% | 176.52% | 176.11% | 129.99% |
| Non-performing asset analysis |  |  |  |  |  |
| &nbsp;&nbsp;Non-accrual loans | $29400 | $30834 | $22615 | $22742 | $30989 |
| &nbsp;&nbsp;Restructured loans | 538 | 14 | 12 | 7 | - |
| &nbsp;&nbsp;90+ Days Past Due, Still Accruing | 229 | 462 | 177 | 223 | 146 |
| &nbsp;&nbsp;Other real estate owned | - | - | - | 209 | 209 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $30167 | $31310 | $22804 | $23181 | $31344 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (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: |  |  |  |  |  |
| &nbsp;&nbsp;Earning assets | $4003144 | $3939580 | $3829484 | $3841369 | $3801709 |
| &nbsp;&nbsp;Securities | 718037 | 694263 | 676938 | 682035 | 683374 |
| &nbsp;&nbsp;Loans | 3252342 | 3197327 | 3128033 | 3136091 | 3099440 |
| Liabilities and Shareholders' Equity |  |  |  |  |  |
| &nbsp;&nbsp;Total deposits | $3461202 | $3424018 | $3237025 | $3190592 | $3209277 |
| &nbsp;&nbsp;Interest-bearing deposits | 2765773 | 2717751 | 2574153 | 2538500 | 2538561 |
| &nbsp;&nbsp;Other interest-bearing liabilities | 257599 | 256899 | 383305 | 523824 | 461100 |
| &nbsp;&nbsp;Total shareholders' equity | 553940 | 525673 | 472993 | 400915 | 397021 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (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 | $310400 | $308692 | $302407 | $338598 | $330627 |
| Commercial Real Estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner Occupied | 390786 | 385547 | 384176 | 378248 | 378095 |
| &nbsp;&nbsp;&nbsp;Non-owner Occupied | 1232781 | 1239017 | 1216031 | 1263612 | 1246025 |
| Residential Real Estate | 943425 | 944328 | 842362 | 815408 | 773349 |
| Real Estate Construction | 254254 | 285137 | 278163 | 277643 | 297589 |
| Farm Real Estate | 32700 | 37775 | 23713 | 23866 | 22399 |
| Lease financing receivable | 32693 | 35103 | 38960 | 42758 | 44570 |
| Consumer and Other | 32628 | 34447 | 10182 | 10991 | 11382 |
| &nbsp;&nbsp;Total Loans | $3229667 | $3270046 | $3095994 | $3151124 | $3104036 |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (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 | $703778 | $702032 | $651934 | $647609 | $648683 |
| Interest-bearing demand | 419295 | 400403 | 415620 | 433089 | 467601 |
| Savings and money market | 1291253 | 1234593 | 1129985 | 1100660 | 1146480 |
| Time deposits | 710423 | 727294 | 601757 | 560702 | 515910 |
| Brokered deposits | 377141 | 402142 | 431167 | 454147 | 460214 |
| &nbsp;&nbsp;Total Deposits | $3501890 | $3466464 | $3230463 | $3196207 | $3238888 |

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | 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 | $55809 | $55741 | $55240 | $56271 | $53733 |
| Total interest expense | 17986 | 19290 | 20695 | 21457 | 20960 |
| &nbsp;&nbsp;Net interest income | 37823 | 36451 | 34545 | 34814 | 32773 |
| Provision for credit losses | (768) | 724 | 378 | 1171 | 1248 |
| Provision for unfunded commitments | 139 | (139) | (178) | (146) | 319 |
| Non-interest income | 9431 | 9884 | 9633 | 6589 | 7860 |
| Non-interest expense | 29873 | 31003 | 28327 | 27482 | 27126 |
| &nbsp;&nbsp;Income before taxes | 18010 | 14747 | 15651 | 12896 | 11940 |
| Income tax expense | 3021 | 2480 | 2891 | 1881 | 1772 |
| &nbsp;&nbsp;Net income | $14989 | $12267 | $12760 | $11015 | $10168 |
| &nbsp;&nbsp;Net income available to common shareholders | $14989 | $12267 | $12760 | $11015 | $10168 |
| **Per share data** |  |  |  |  |  |
| Earnings per common share |  |  |  |  |  |
| &nbsp;&nbsp;Basic |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $14989 | $12267 | $12760 | $11015 | $10168 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less allocation of earnings and |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;dividends to participating securities | 28 | 48 | 61 | 45 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common shareholders - basic | $14961 | $12219 | $12699 | $10970 | $10124 |
| Weighted average common shares outstanding | 20745499 | 20185285 | 18767307 | 15524490 | 15488813 |
| &nbsp;&nbsp;Less average participating securities | 39169 | 90281 | 91743 | 96692 | 66711 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of shares outstanding used to calculate basic earnings per share | 20706330 | 20095004 | 18675564 | 15427798 | 15422102 |
| Earnings per common share |  |  |  |  |  |
| &nbsp;&nbsp;Basic | $0.72 | $0.61 | $0.68 | $0.71 | $0.66 |
| &nbsp;&nbsp;Diluted | $0.72 | $0.61 | $0.68 | $0.71 | $0.66 |
| Common shares dividend paid | $3732 | $3283 | $3283 | $2638 | $2636 |
| Dividends paid per common share | 0.18 | 0.17 | 0.17 | 0.17 | 0.17 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| **Selected financial ratios** | 2026 | 2025 | 2025 | 2025 | 2025 |
| &nbsp;&nbsp;Return on average assets | 1.41% | 1.14% | 1.22% | 1.06% | 1.00% |
| &nbsp;&nbsp;Return on average equity | 10.97% | 9.26% | 10.70% | 11.02% | 10.39% |
| &nbsp;&nbsp;Dividend payout ratio | 24.91% | 27.97% | 25.00% | 23.96% | 25.90% |
| &nbsp;&nbsp;Net interest margin (tax equivalent) | 3.85% | 3.69% | 3.58% | 3.64% | 3.51% |
| &nbsp;&nbsp;Effective tax rate | 16.77% | 16.82% | 18.47% | 14.59% | 14.84% |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| **Non-interest income** | 2026 | 2025 | 2025 | 2025 | 2025 |
| Service charges | $1714 | $1706 | $1667 | $1564 | $1524 |
| Net gain (loss) on equity securities | 33 | 120 | 255 | (74) | (29) |
| Net gain on sale of loans and leases | 1605 | 1594 | 1450 | 841 | 604 |
| ATM/Interchange fees | 1386 | 1722 | 1435 | 1418 | 1326 |
| Wealth management fees | 1433 | 1473 | 1402 | 1325 | 1340 |
| Lease revenue and residual income | 1630 | 1518 | 1934 | 525 | 1896 |
| Bank owned life insurance | 390 | 397 | 666 | 386 | 387 |
| Swap fees | 56 | 150 | - | 53 | 72 |
| Other | 1184 | 1204 | 824 | 551 | 740 |
| &nbsp;&nbsp;Total non-interest income | $9431 | $9884 | $9633 | $6589 | $7860 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) | (Unaudited - dollars in thousands) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| **Non-interest expense** | 2026 | 2025 | 2025 | 2025 | 2025 |
| Compensation expense | $16229 | $14526 | $15161 | $15011 | $14043 |
| Net occupancy expense | 1623 | 1410 | 1466 | 1419 | 1634 |
| 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 | 1585 | 1467 | 1225 | 1798 | 2090 |
| Equipment expense | 2089 | 2032 | 2205 | 1764 | 2103 |
| 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 | 1475 | 1411 | 1480 | 1294 | 1277 |
| Other | 3259 | 6953 | 3604 | 3027 | 2805 |
| &nbsp;&nbsp;Total non-interest expense | $29873 | $31003 | $28327 | $27482 | $27126 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| **Asset quality** | 2026 | 2025 | 2025 | 2025 | 2025 |
| Allowance for credit losses: |  |  |  |  |  |
| &nbsp;&nbsp;Beginning of period | $42020 | $40254 | $40455 | $40284 | $39669 |
| &nbsp;&nbsp;&nbsp;CECL Day 1 Adjustment FSB | - | 1960 | - | - | - |
| &nbsp;&nbsp;&nbsp;Charge-offs | (806) | (1064) | (662) | (1092) | (976) |
| &nbsp;&nbsp;&nbsp;Recoveries | 90 | 146 | 83 | 92 | 343 |
| &nbsp;&nbsp;&nbsp;Provision | (768) | 724 | 378 | 1171 | 1248 |
| &nbsp;&nbsp;End of period | $40536 | $42020 | $40254 | $40455 | $40284 |
| Allowance for unfunded commitments: |  |  |  |  |  |
| &nbsp;&nbsp;Beginning of period | $3236 | $3375 | $3553 | $3699 | $3380 |
| &nbsp;&nbsp;&nbsp;Charge-offs | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Recoveries | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;Provision | 139 | (139) | (178) | (146) | 319 |
| &nbsp;&nbsp;End of period | $3375 | $3236 | $3375 | $3553 | $3699 |
| **Ratios** |  |  |  |  |  |
| &nbsp;&nbsp;Allowance to total loans | 1.26% | 1.28% | 1.30% | 1.28% | 1.30% |
| &nbsp;&nbsp;Allowance to nonperforming assets | 134.37% | 134.29% | 176.52% | 174.52% | 129.12% |
| &nbsp;&nbsp;Allowance to nonperforming loans | 134.37% | 134.29% | 176.52% | 176.11% | 129.99% |
| **Nonperforming assets** |  |  |  |  |  |
| Non-accrual loans | $29400 | $30815 | $22615 | $22742 | $30989 |
| Restructured loans | 538 | 14 | 12 | 7 | - |
| 90+ Days Past Due, Still Accruing | 229 | 461 | 177 | 223 | - |
| &nbsp;&nbsp;Total non-performing loans | 30167 | 31290 | 22804 | 22972 | 30989 |
| Other Real Estate Owned | - | - | - | 209 | 209 |
| &nbsp;&nbsp;Total non-performing assets | $30167 | $31290 | $22804 | $23181 | $31198 |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| **Capital and liquidity** | 2026 | 2025 | 2025 | 2025 | 2025 |
| &nbsp;&nbsp;Tier 1 leverage ratio | 11.57% | 11.32% | 10.96% | 8.80% | 8.66% |
| &nbsp;&nbsp;Tier 1 risk-based capital ratio | 15.12% | 14.51% | 14.19% | 11.18% | 10.97% |
| &nbsp;&nbsp;Total risk-based capital ratio | 18.67% | 18.02% | 17.80% | 14.73% | 14.53% |
| &nbsp;&nbsp;Tangible common equity ratio <sup>(1)</sup> | 9.85% | 9.54% | 9.21% | 6.70% | 6.59% |
| (1) See reconciliation of non-GAAP measures at the end of this press release. |  |  |  |  |  |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (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** |  |  |  |  |  |
| &nbsp;&nbsp;Total Shareholder's Equity - GAAP | $552243 | $543474 | $499028 | $404137 | $397434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Preferred Equity | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill and intangible assets | 142774 | 143538 | 132276 | 132631 | 133026 |
| Tangible common equity (Non-GAAP) | $409469 | $399936 | $366752 | $271506 | $264408 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Shares Outstanding | 20783348 | 20746474 | 19312726 | 15529342 | 15519072 |
| Tangible book value per share | $19.70 | $19.28 | $18.99 | $17.48 | $17.04 |
| **Tangible Assets** |  |  |  |  |  |
| &nbsp;&nbsp;Total Assets - GAAP | $4298322 | $4336453 | $4113334 | $4185869 | $4146717 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill and intangible assets | 142774 | 143538 | 132276 | 132631 | 133026 |
| Tangible assets (Non-GAAP) | $4155548 | $4192915 | $3981058 | $4053238 | $4013691 |
| Tangible common equity to tangible assets | 9.85% | 9.54% | 9.21% | 6.70% | 6.59% |

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| | | |
|:---|:---|:---|
| Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended |
|  | March 31, | March 31, |
| &nbsp;&nbsp;**Efficiency ratio (non-GAAP):** | 2026 | 2025 |
| &nbsp;&nbsp;Noninterest expense (GAAP) | $29873 | $27126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Amortization of intangible assets expense | 696 | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Acquisition related expenses | 427 | - |
| &nbsp;&nbsp;Noninterest expense (non-GAAP) | $28750 | $26794 |
| &nbsp;&nbsp;Net interest income (GAAP) | $37823 | $32773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: Taxable equivalent adjustment | 612 | 622 |
| &nbsp;&nbsp;Noninterest income (GAAP) | 9431 | 7860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Net gains (losses) on equity securities | 33 | (29) |
| &nbsp;&nbsp;Net interest income (FTE) plus non-interest income (non-GAAP) | $47833 | $41284 |
| &nbsp;&nbsp;Efficiency ratio (non-GAAP) | 60.1% | 64.9% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures | Reconciliation of Non-GAAP Financial Measures |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| &nbsp;&nbsp;**Efficiency ratio (non-GAAP):** | 2026 | 2025 | 2025 | 2025 | 2025 |
| &nbsp;&nbsp;Noninterest expense (GAAP) | $29873 | $31003 | $28327 | $27482 | $27126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Amortization of intangible assets expense | 696 | 576 | 318 | 339 | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Acquisition related expenses | 427 | 3424 | 664 | 5 | - |
| &nbsp;&nbsp;Noninterest expense (non-GAAP) | $28750 | $27003 | $27345 | $27138 | $26794 |
| &nbsp;&nbsp;Net interest income (GAAP) | $37823 | $36451 | $34545 | $34814 | $32773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: Taxable equivalent adjustment | 612 | 620 | 618 | 621 | 622 |
| &nbsp;&nbsp;Noninterest income (GAAP) | 9431 | 9884 | 9633 | 6589 | 7860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Net gains (losses) on equity securities | 33 | 120 | 255 | (74) | (29) |
| &nbsp;&nbsp;Net interest income (FTE) plus non-interest income (non-GAAP) | $47833 | $46835 | $44541 | $42098 | $41284 |
| &nbsp;&nbsp;Efficiency ratio (non-GAAP) | 60.1% | 57.7% | 61.4% | 64.5% | 64.9% |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, | December 31, | September 30, | June 30, | March 31, |
| &nbsp;&nbsp;**Net interest margin (non-GAAP):** | 2026 | 2025 | 2025 | 2025 | 2025 |
| Net interest income (GAAP) | $37823 | $36451 | $34545 | $34814 | $32773 |
| Tax-equivalent adjustment | 612 | 620 | 618 | 621 | 622 |
| Net interest income (tax-equivalent) | 38435 | 37071 | 35163 | 35435 | 33395 |
| Average earning assets (GAAP) | $4003144 | $3939580 | $3829484 | $3841369 | $3801709 |
| Unrealized loss adjustment | 41288 | 46944 | 62947 | 64110 | 59117 |
| Adjusted average earning assets | 4044432 | 3986524 | 3892431 | 3905479 | 3860826 |
| Net interest margin (Non-GAAP) | 3.85% | 3.69% | 3.58% | 3.64% | 3.51% |

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| | | | |
|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended | Three Months Ended |
|  | March 31, 2026 | March 31, 2026 | March 31, 2026 |
|  |  | Non-Recurring |  |
|  | As Reported | Adjustments | As Adjusted |
| Interest income | $55809 | $- | $55809 |
| Interest expense | 17986 | - | 17986 |
| &nbsp;&nbsp;Net interest income | 37823 | - | 37823 |
| Provision for credit losses | (768) | - | (768) |
| Provision for unfunded commitments | 139 | - | 139 |
| &nbsp;&nbsp;Net interest income after provision | 38452 | - | 38452 |
| Non-interest income | 9431 | - | 9431 |
| Non-interest expense | 29873 | 427 | 29446 |
| &nbsp;&nbsp;Income before taxes | 18010 | (427) | 18437 |
| Income tax expense | 3021 | (69) | 3090 |
| &nbsp;&nbsp;Net income | $14989 | $(358) | $15347 |
| Earnings per common share |  |  |  |
| &nbsp;&nbsp;Basic | $0.72 | $(0.02) | $0.74 |
| &nbsp;&nbsp;Diluted | $0.72 | $(0.02) | $0.74 |

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| | | | | |
|:---|:---|:---|:---|:---|
| Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information | Supplemental Financial Information |
| Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations | Consolidated Condensed Statement of Operations |
| (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) | (Unaudited - dollars in thousands except share data) |
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
| **As Reported** | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 |
| Interest income | $55809 | $55741 | $55240 | $56271 |
| Interest expense | 17986 | 19290 | 20695 | 21457 |
| &nbsp;&nbsp;Net interest income | 37823 | 36451 | 34545 | 34814 |
| Provision for credit losses | (768) | 724 | 378 | 1171 |
| Provision for unfunded commitments | 139 | (139) | (178) | (146) |
| &nbsp;&nbsp;Net interest income after provision | 38452 | 35866 | 34345 | 33789 |
| Non-interest income | 9431 | 9884 | 9633 | 6589 |
| Non-interest expense | 29873 | 31003 | 28327 | 27482 |
| &nbsp;&nbsp;Income before taxes | 18010 | 14747 | 15651 | 12896 |
| Income tax expense | 3021 | 2480 | 2891 | 1881 |
| &nbsp;&nbsp;Net income | $14989 | $12267 | $12760 | $11015 |
| Earnings per common share |  |  |  |  |
| &nbsp;&nbsp;Basic | $0.72 | $0.61 | $0.68 | $0.71 |
| &nbsp;&nbsp;Diluted | $0.72 | $0.61 | $0.68 | $0.71 |
| Net Interest Margin | 3.85% | 3.69% | 3.58% | 3.64% |
| **As Adjusted** |  |  |  |  |
| Interest income | $55809 | $55741 | $55240 | $54650 |
| Interest expense | 17986 | 19290 | 20695 | 21457 |
| &nbsp;&nbsp;Net interest income | 37823 | 36451 | 34545 | 33193 |
| Provision for credit losses | (768) | 724 | 378 | 1171 |
| Provision for unfunded commitments | 139 | (139) | (178) | (146) |
| &nbsp;&nbsp;Net interest income after provision | 38452 | 35866 | 34345 | 32168 |
| Non-interest income | 9431 | 9884 | 9633 | 7633 |
| Non-interest expense | 29446 | 27579 | 27663 | 27793 |
| &nbsp;&nbsp;Income before taxes | 18437 | 18171 | 16315 | 12008 |
| Income tax expense | 3090 | 3048 | 3001 | 1750 |
| &nbsp;&nbsp;Net income | $15347 | $15123 | $13314 | $10258 |
| Earnings per common share |  |  |  |  |
| &nbsp;&nbsp;Basic | $0.74 | $0.75 | $0.71 | $0.66 |
| &nbsp;&nbsp;Diluted | $0.74 | $0.75 | $0.71 | $0.66 |
| Net Interest Margin | 3.85% | 3.69% | 3.58% | 3.47% |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Three Months Ended | Three Months Ended | Three Months Ended | Three Months Ended |
| **Non-Recurring Adjustments** | March 31, 2026 | December 31, 2025 | September 30, 2025 | June 30, 2025 |
| Interest income | $- | $- | $- | $1621 |
| Interest expense | - | - | - | - |
| &nbsp;&nbsp;Net interest income | - | - | - | 1621 |
| Provision for credit losses | - | - | - | - |
| Provision for unfunded commitments | - | - | - | - |
| &nbsp;&nbsp;Net interest income after provision | - | - | - | 1621 |
| Non-interest income | - | - | - | (1044) |
| Non-interest expense | 427 | 3424 | 664 | (311) |
| &nbsp;&nbsp;Income before taxes | (427) | (3424) | (664) | 888 |
| Income tax expense | (69) | (568) | (110) | 131 |
| &nbsp;&nbsp;Net income | $(358) | $(2856) | $(554) | $757 |
| Earnings per common share |  |  |  |  |
| &nbsp;&nbsp;Basic | $(0.02) | $(0.14) | $(0.03) | $0.05 |
| &nbsp;&nbsp;Diluted | $(0.02) | $(0.14) | $(0.03) | $0.05 |
| Net Interest Margin | 0.00% | 0.00% | 0.00% | 0.17% |

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**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<br>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<br>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<br>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.

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