CIB Marine Bancshares Delivers Solid Performance in Q1 2025

Author: Owen Jenkins Updated: 04-11-2025 06:02 AM

CIB Marine Bancshares Reports First Quarter Results

BROOKFIELD, Wis. — CIB Marine Bancshares, Inc. (the "Company" or "CIB Marine") (OTCQX: CIBH), the holding company of CIBM Bank, has announced its preliminary results for the first quarter of 2025, demonstrating positive financial trends.

Financial Highlights

CIB Marine recorded a net income of $0.3 million in the first quarter of 2025, translating to $0.24 basic and $0.23 diluted earnings per share. This marks an increase compared to $0.2 million recorded in the same quarter of the prior year, which was $0.13 basic and $0.10 diluted earnings per share.

Increased Interest Margins

One of the significant highlights from the quarter was the increase in net interest margin to 2.62%, up from 2.44% in the previous quarter and from 2.29% in Q1 of 2024. This upward trend was largely attributed to a decrease in the cost of funds and a robust rise in interest income, which increased by $0.3 million compared to the same quarter in the prior year.

Loans and Credit Quality

Despite a decline in total loan balances by $12 million compared to the prior quarter, the allowance for credit losses increased slightly from 1.26% to 1.29%. This adjustment reflects updated forecasts regarding short-term economic conditions. As of March 31, 2025, non-performing assets represented 0.67% of total assets, with non-accrual loans accounting for 0.84% of total loans, slightly higher than the previous quarter levels.

Banking Division Performance

The Banking Division of CIB Marine maintained a net income of $0.8 million for the quarter, consistent with last year's performance. However, the Mortgage Division faced challenges due to high interest rates and seasonal factors, resulting in a net loss of $0.2 million; nonetheless, this was an improvement from a loss in the previous year's quarter due to efficient cost management efforts.

Moving forward, CIB Marine anticipates an expansion in its loan portfolio, primarily driven by growth in commercial lending sectors.

Stock Repurchase Initiative

In February 2025, CIB Marine initiated a common stock repurchase program, aiming to repurchase up to $1 million of its shares throughout the year. In the first quarter alone, the Company invested $235,000 to repurchase 7,429 shares at an average price significantly below its tangible book value, enhancing shareholder value.

Looking Ahead

CEO J. Brian Chaffin expressed optimism regarding the Company's future during the upcoming annual shareholder meeting, scheduled in April. He emphasized the importance of discussing operational results and strategic capital plans with shareholders, inviting them to stay engaged and informed through their website.

Frequently Asked Questions

What were CIB Marine's Q1 2025 earnings?

CIB Marine reported a net income of $0.3 million for the first quarter of 2025.

How did the net interest margin change in Q1?

The net interest margin increased to 2.62%, up from 2.44% in Q4 2024.

What is the outlook for loans in 2025?

CIB Marine expects an increase in its loan portfolio, particularly in commercial lending.

What actions were taken regarding stock repurchase?

CIB Marine launched a stock repurchase initiative, aiming to buy back $1 million worth of shares, with $235,000 spent in Q1 2025.

When is the next shareholder meeting?

The next annual shareholder meeting is scheduled for April 24, 2025.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

Contact Owen Jenkins privately here. Or send an email with ATTN: Owen Jenkins as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.