CIB Marine Bancshares Q3 profit falls
CIBH•CIB Marine Bancshares reported Q3 net income of $767,000 and EPS of $0.57, both slightly lower year over year. Net interest margin rose to 3.05%.
1. Quarterly results
CIB Marine Bancshares reported Q3 net income of $767,000, EPS of $0.57 and net interest income of $6.06 million. Net interest margin rose to 3.05%, as lower funding costs and higher yields on earning assets boosted net interest income. Provisions for credit losses increased due to credit migration and charge-off activity in commercial and commercial real estate loans, while lower mortgage volumes reduced Mortgage Division net income.
2. Share repurchases
The company repurchased 5% of its outstanding stock since February 2025, using $2.5 million of its $3.5 million authorization. It remains focused on increasing net interest income amid the current interest rate environment.
