The following excerpt is from the company's SEC filing.
Markets Source: S&P Global Market
Intelligence, FDIC. Deposit market share information as of June 30, 2020. Sandusky/Norwalk/Port Clinton, Ohio 9 Locations $425 million in loans $872 million in deposits #1 deposit market share in Sandusky, Ohio with ~51% market share
Cleveland/Akron, Ohio 3 Locations $625 million in loans $121 million in deposits North Central, Ohio 7 Locations $70 million in loans $209 million in deposits ~34% deposit market share in our markets Columbus & West Central, Ohio 6 Locations
$407 million in loans $297 million in deposits 23% deposit market share in the rural markets Greater Dayto n, Ohio 3 Locations $145 million in loans $106 million in deposits Southeastern Indiana/Cincinnati, Ohio 9 Locations $386 million in loans $584
million in deposits ~43% deposit market share in our markets
Experienced Management Team Dennis G.
Shaffer SVP & Chief Operating Officer 35 years of banking experience Joined in 2007 Richard J. Dutton SVP & Chief Lending Officer 32 years of banking experience Joined in 2016 Charles A. Parcher SVP & General Counsel 17 years of banking
experience Joined in 2018 Lance A. Morrison SVP & Controller 32 years of banking experience Joined in 1988 Todd A. Michel SVP & Chief Risk Officer 25 years of banking experience Joined in 2013 John A. Betts SVP & Chief Credit Officer 35
years of banking experience Joined in 2010 Paul J. Stark Donna M. Jaskolski SVP & Customer Experience Officer 18 years of banking experience Joined in 2017 CEO & President President, Civista Bank 35 years of banking experience Joined in
Financial Highlights Source: Company
Management and SNL Financial. 1. December 31, 2020 includes $217.3 million of PPP loans . 2. Non-GAAP reconciliation on page 25.
Increasing Shareholder Value Source:
Company management and SNL Financial. 1 Non-GAAP reconciliation on page 25 2 Page 27 shows 2018 ratios adjusted for merger related expenses Tangible Book Value per Share1 Diluted EPS2
Proven Acquirer & Attractive
Organic Growth Source: Company Management and SNL Financial. 1. 2020 includes $217.3 million of PPP loans Completed 3 acquisitions since 2007, including the acquisition of United Community Bancorp, which closed September 14, 2018 Expanded commercial
loan growth in Columbus, Cleveland, Akron, Dayton and Cincinnati markets Since year-end 2013, loan portfolios in these markets have increased from $276 million to $1.1 billion1 through December 31, 2020 Low cost, locally generated deposit base Total
Asset CAGR 16.0%, Total Gross Loan CAGR 15.5%, Total Deposit CAGR 15.8% Total Assets $ in millions Total Gross Loans2 $ in millions Total Deposits $ in millions
1 excluding $217.3 million of PPP
loans Deposit Mix Total Deposits: $2.2 billion 2020 Total Cost of Deposits: 0.33% 33% Noninterest Bearing Demand Deposits split between Commercial (71%) and Retail (29%) 2020 Loan/Deposit Ratio: 95.5%1
1. Hotel, Restaurant, Entertainment,
Retail, Industrial and Office Percentages net of PPP loans of $217.3 million Loan Mix Total Gross Loans: $2.1 billion 2020 Average Loan Yield: 4.49% Diversified CRE Portfolio1 No Big Box Retail or Energy Exposure Hotel (7%), Restaurant (2%),
Entertainment (3%), Retail (19%), Industrial (9%), Office (5%) CRE to RBC ratio: 318.7%
Source: Company Management and SNL
Financial. 2020 Peer data as of 12/31/2020, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states. Total Cost of Deposits (%) Yield on Loans (%)
Peer Leading FTE NIM Source: SNL
Financial. 2020 peer data as of 12/31/2020, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states.
Operating Efficiencies Source:
Company Management. 1Page 26 shows 2018 ratios adjusted for merger related expenses Fee income platform Service charges on deposit accounts were $5.3 million YTD 2020 and $6.4 million YTD 2019 Mortgage Banking Gain on sale of loans, primarily
mortgage loans, was $8.6 million YTD 2020 and $2.7 million YTD 2019 Swap fee income Swap fee income was $1.5 million YTD 2020 and $516 thousand YTD 2019 Tax Refund Processing Platform $2.4 million YTD 2020 and $2.8 million YTD 2019 Continued
disciplined approach to controlling noninterest expense Near-term focus on review of branch network Identified efficiencies invested to enhance digital offerings Efficiency Ratio1 Noninterest Income by Category $ in millions
Leveraging Technology Enhance
utilization of technology to leverage efficiency and improve internal and external customer experience Curbside banking Workflow and electronic storage E-Sign Digital Transformation – anticipated rollout Q2 2021 Retail Commercial Improved
in-branch and online account opening and online access Enhanced fraud monitoring and data protection
Source: Company Management and SNL
Financial. 1 Excluding PCI (purchased credit impaired loans). Strong Asset Quality Reserves / NPLs NCOs / Average Loans Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Loan Loss Reserves / Gross Loans Nonaccrual & 90 days Past Due1 /
Profitability & Returns Analysis
Source: Company Management and SNL Financial. Page 27 shows 2018 ratios adjusted for merger related expenses Diluted Earnings per Share1 ROAE1 ROAA1 Net Income Available to Common Shareholders1
Strong Capital Position 1 TCE
Non-GAAP reconciliation on page 25 2 Page 27 shows 2018 ratios adjusted for merger related expenses Successfully raised $32.8 million of capital (issued 1,610,000 shares) in February 2017 Additional $104.7 million of capital (issued 4,277,430
shares) related to UCB merger in September 2018 Successfully redeemed outstanding preferred shares effective December 20, 2019 Authorized $13.5 million stock repurchase plan on April 21, 2020. At December 31, 2020, $11.5 million remains. Beginning
in Q3 2019, through Q4 2020, 1,015,147 shares have been repurchased for approximately $17.3 million at a weighted average price of $17.01 Increased the quarterly common dividend to $0.12 in first quarter 2020.
Source: Company Management and SNL
Financial. Operating Results
Compelling Investment Opportunity
Community bank franchise poised for acquisitions and strong core deposit franchise Strong capital position Strong credit culture and asset quality Proven acquirer of choice Completed 3 acquisitions since 2007, including the acquisition of United
Community Bancorp, which closed September 14, 2018 Peer leading NIM Experienced management team with an average of 28 years in banking Strategically positioned in attractive Ohio lending markets funded by low cost deposit with operations in the 5
largest Ohio MSAs Demonstrated strong profitability from 2015 to 2020 Net Income CAGR: 23.6% TBV / Share CAGR: 12.3% LTM EPS CAGR: 11.3%
SBA Paycheck Protection Program
Originated $259.1 million in PPP Round 1 Provided assistance to more than 2,300 businesses and their over 36,000 employees Over 2,300 loans, average loan size ~$110K Over 50% of PPP loans fall within Restaurants, Healthcare, Manufacturing and
Construction As of 12/31/2020 $41.8 million PPP loans have been forgiven or paid off. We have recognized $4.7 million in fees with $5.2 million remaining to be earned Currently participating in PPP Round 2 At 2/8/2021 received 1,044 applications
Funded 596 loans for $71.4 million
1 PPP loans for December 31, 2020
totaled $217,295,472 COVID 19 Deferrals During 2020, Civista modified a total of 813 loans totaling $431.1 million, primarily consisting of the deferral of principal and/or interest payments, under the provisions of the CARES Act. As of December 31,
2020, loans that remain on a CARES Act modification total $73.8 million.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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Other recent filings from the company include the following:
First Citizens Banc: Civista Bancshares, Inc. Announces Third Quarter 2021 Financial Results Sandusky, Ohio, October - Oct. 27, 2021
Registration statement under Securities Act of 1933 - Oct. 22, 2021
Registration statement under Securities Act of 1933 - Oct. 15, 2021
First Citizens Banc: Civista Bancshares, Inc. Declares Fourth Quarter Common Dividend Sandusky, Ohio, October - Oct. 8, 2021
First Citizens Banc: Civista Bancshares, Inc. Announces Third Quarter 2021 Earnings Release Date Sandusky, Ohio, October - Oct. 7, 2021