Annual Meeting of Shareholders Set for April 30, 2026BROOKFIELD, Wis., Feb. 13, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of CIB Marine Bancshares, Inc. (the “Company” or “CIB Marine”) (OTCQX: CIBH), the parent company of CIBM Bank, has approved an expansion of the Board from nine to ten members. The newly created seat has been filled with the appointment of Mr. Dennis Pollack, effective February 16, 2026. Mr. Pollack will also join the Board of Directors of the Company’s wholly owned subsidiary, CIBM ...

Core Insights - CIB Marine Bancshares, Inc. reported a decline in net income for 2025, with net income allocated to common shareholders at $1.6 million, down from $2.5 million in 2024, primarily due to increased provisions for credit losses in the fourth quarter [2][4]. Financial Performance - The net interest margin improved to 2.72% for the full year 2025, up from 2.42% in 2024, driven by a reduction in the cost of funds [4][12]. - Provisions for credit losses were $1.2 million in the fourth quarter of 2025, compared to reversals of $0.3 million in the same quarter of 2024 [4][10]. - The company experienced net charge-offs of 0.20% for the year, compared to 0.01% in the prior year [4][12]. Loan and Asset Quality - Non-performing assets represented 1.04% of total assets as of December 31, 2025, an increase from 0.68% a year earlier [4][12]. - The allowance for credit losses on loans was 1.27% as of December 31, 2025, compared to 1.26% a year earlier [4][12]. - Outstanding loan balances in the NAICS Transportation and Warehousing category declined from $15.9 million to $13.7 million since year-end 2024 [3][4]. Operational Highlights - The Banking Division reported an income increase of $0.9 million in 2025, excluding provisions and the prior year's sale-leaseback gain, driven by higher net interest income [4][12]. - The Mortgage Division achieved a modest profit in 2025, recovering from a loss of $0.2 million in 2024 [4][12]. Shareholder Actions - The company authorized a stock repurchase program of up to $2.5 million through December 31, 2026, repurchasing 36,383 shares for $1.3 million in 2025 [5][12].

Core Viewpoint - CIB Marine Bancshares, Inc. reported a decline in net income for 2025, primarily due to increased provisions for credit losses, despite improvements in net interest margin and a modest profit from the Mortgage Division [1][2][4]. Financial Performance - Net income allocated to common shareholders for 2025 was $1.6 million, or $1.19 basic and $1.15 diluted earnings per share, down from $2.5 million, or $1.87 basic and $1.46 diluted earnings per share in 2024 [2]. - The net interest margin improved to 2.72% for the full year 2025, up from 2.42% in 2024, driven by a reduction in the cost of funds [4]. - Provisions for credit losses were $1.2 million in Q4 2025 and $1.1 million for the full year, compared to reversals in the same periods of 2024 [4]. Loan and Asset Quality - Non-performing assets represented 1.04% of total assets as of December 31, 2025, an increase from 0.68% a year earlier, primarily due to two commercial loan relationships moving to non-accrual status [4]. - The allowance for credit losses on loans was 1.27% as of December 31, 2025, compared to 1.26% a year earlier, remaining at or above local and national peer medians [4]. Business Strategy and Growth - The Banking Division reported an increase in income of $0.9 million in 2025, excluding provisions and the prior year's sale-leaseback gain, driven by higher net interest income [4]. - The company emphasized continued growth in commercial lending, with loan balances increasing by $11 million in Q4 2025 after a decline earlier in the year [4]. Stock Repurchase Program - The expanded common stock repurchase program authorizes up to $2.5 million in buybacks through December 31, 2026, with $1.2 million remaining for additional repurchases in 2026 [3].

Core Points - CIB Marine Bancshares, Inc. has extended its common stock repurchase program through December 31, 2026, and increased the total repurchase authorization from $1 million to $2.5 million [1][2] - The company has repurchased approximately $876,000 of its common stock under the program, indicating significant progress towards the authorized total [2] - The extension and increase in the repurchase program reflect the company's commitment to enhancing shareholder value and maintaining capital management flexibility [2][3] Company Overview - CIB Marine Bancshares, Inc. is the parent company of CIBM Bank, which operates nine banking offices and has mortgage loan officers and/or offices in six states [4]

Core Points - CIB Marine Bancshares, Inc. has authorized an extension of its common stock repurchase program through December 31, 2026, increasing the total repurchase authorization from $1 million to $2.5 million [1][2] - The company has repurchased approximately $876,000 of its common stock under the program, indicating significant progress towards the total authorized amount [2] - The extension and increase in the repurchase program reflect the company's commitment to enhancing shareholder value and maintaining capital management flexibility [2][3] Company Overview - CIB Marine Bancshares, Inc. is the parent company of CIBM Bank, which operates nine banking offices and has mortgage loan officers and/or offices in six states [4] - The company aims to deploy capital in ways that benefit shareholders and support sustainable growth while maintaining a strong regulatory capital position [3]

Core Insights - CIB Marine Bancshares, Inc. reported improved net interest income and stronger mortgage operations for the third quarter of 2025 compared to both the previous quarter and the same period last year [1] Financial Performance - Net income for Q3 2025 was $0.9 million, with basic and diluted earnings per share of $0.68 and $0.65 respectively, down from $1.1 million and $0.79 basic earnings per share in Q3 2024 [2] - For the nine months ended September 30, 2025, net income was $1.9 million, or $1.41 basic and $1.37 diluted earnings per share, compared to $1.7 million, or $1.27 basic and $0.94 diluted earnings per share for the same period in 2024 [2] Net Interest Income and Margins - The net interest margin increased to 2.78% in Q3 2025, up from 2.69% in Q2 2025 and 2.55% in Q3 2024 [3] - The cost of funds decreased by 62 basis points compared to Q3 2024, while yields on earning assets fell by 26 basis points [3] - Net interest income rose by $0.1 million in Q3 2025 compared to Q2 2025 and increased by $0.7 million for the nine months ended September 30, 2025, compared to the same period in 2024 [3] Loan Portfolio and Asset Quality - Average loan balances declined by $56 million, with quarter-end loan balances down by $10 million from June 30, 2025, and $52 million from December 31, 2024 [3] - The allowance for credit losses to loans ratio increased to 1.33% as of September 30, 2025, from 1.32% at June 30, 2025 [3] - Non-performing assets represented 0.75% of total assets, with non-accrual loans accounting for 0.95% of total loans, both up from previous quarters [3] Business Segments Performance - The Banking Division reported net income of $2.6 million for the nine months ended September 30, 2025, an improvement of $0.2 million over the same period in 2024 [3] - The Mortgage Division achieved a net income of $0.1 million for the nine months ended September 30, 2025, reflecting a modest gain despite reduced staffing [3] Capital Management - In early October 2025, CIBM Bank received regulatory approval to distribute $3 million in capital to its parent company [4] - The company has a $2 million line of credit, with no draws made to date, supporting a $1 million common stock repurchase program [4] - During Q3 2025, 4,800 shares were repurchased for a total of $170,820 at an average price of $35.59 per share [4]

Core Viewpoint - CIB Marine Bancshares, Inc. reported improved financial results for the second quarter and first half of 2025, with net income increasing and net interest margins showing positive trends despite challenges in loan balances and the mortgage market [1][2][3]. Financial Performance - Net income for Q2 2025 was $0.7 million, or $0.50 basic and $0.48 diluted earnings per share, compared to $0.5 million, or $0.34 basic and $0.25 diluted earnings per share in Q2 2024 [2]. - For the six months ended June 30, 2025, net income was $1.0 million, or $0.74 basic and $0.71 diluted earnings per share, up from $0.6 million, or $0.80 basic and $0.35 diluted earnings per share in the same period of 2024 [2]. Net Interest Income and Margins - Net interest margin increased to 2.69% in Q2 2025 from 2.62% in Q1 2025 and 2.38% in Q2 2024 [4]. - The cost of funds declined by 51 basis points year-over-year, contributing to the improved net interest margin [4]. - Net interest income rose by $0.3 million for Q2 2025 compared to Q2 2024, and by $0.6 million for the first half of 2025 compared to the same period in 2024 [4]. Loan and Asset Quality - Loan balances decreased by $19 million from March 31, 2025, and $32 million from December 31, 2024 [4]. - The allowance for credit losses to loans increased to 1.32% as of June 30, 2025, from 1.29% at March 31, 2025 [4]. - Non-performing loans to total assets increased to 1.85% at June 30, 2025, compared to 0.97% at March 31, 2025 [4]. Business Segments Performance - The Banking Division reported net income of $1.6 million for the first half of 2025, a $0.4 million improvement over the same period in 2024, driven by higher net interest margins [4]. - The Mortgage Division experienced a net loss of $0.1 million for the first half of 2025, an improvement from the prior year, despite challenges in the residential mortgage market [4]. Stock Repurchase Program - The company launched a common stock repurchase program in February 2025, authorizing up to $1 million in buybacks [3]. - In Q2 2025, the company repurchased 8,083 shares for a total of $262,000 at an average price of $32.37 per share [3][5].