Civista Bancshares Announces Retirement of Dennis Shaffer; Chuck Parcher to Become CEO

Rhea-AI Summary

Civista Bancshares (NASDAQ:CIVB) announced that President and CEO Dennis Shaffer will retire effective August 28, 2026, and current President Charles "Chuck" Parcher will become President and CEO at that time. Shaffer will remain as Chairman and on the Board to support the transition.

The Board initiated succession planning over a year ago; Civista reported total assets of $4.3 billion and operates 44 locations across Ohio, Southeastern Indiana and Northern Kentucky.

Positive

• Planned succession with >1 year of formal planning
• Incoming CEO Chuck Parcher already serving as President
• Founder-level continuity: Shaffer will remain as Chairman
• Company scale: $4.3 billion in assets and 44 locations

Negative

• Dennis Shaffer to retire as CEO effective August 28, 2026
• Loss of CEO with over 40 years of banking experience

SANDUSKY, Ohio, March 2, 2026 /PRNewswire/ -- Civista Bancshares, Inc. announced today that Dennis Shaffer, President and Chief Executive Officer of Civista Bancshares, Inc. and Chief Executive Officer of Civista Bank, will retire effective August 28, 2026, shortly after his 64^th birthday.

At that time, Charles 'Chuck' Parcher, current President of Civista Bank, will assume the role of President and Chief Executive Officer of Civista Bancshares, Inc. and Civista Bank. Shaffer will remain actively involved as Chairman of the Board and will continue serving on the Board of Directors to support a seamless leadership transition.

Shaffer's retirement marks more than 40 years of service in the banking industry. His career reflects a deep commitment to relationship banking, disciplined growth, and community-focused leadership.

"It has been an incredible honor to serve this organization and the communities we support," said Shaffer. "I believe Civista is in a very strong position. We have a talented leadership team, a more than capable successor in Chuck, and employees across the organization who care deeply about our customers and our communities. That gives me great confidence in the future."

Under Shaffer's leadership, Civista strengthened its financial performance, enhanced its capital position, and continued to grow while maintaining its independence. He has consistently emphasized authenticity, accountability, and empathy as guiding leadership principles. In a recent internal interview recognizing his 40 years in banking, Shaffer shared that relationships have been the most rewarding part of his career, noting that the people he has worked alongside and served have been his greatest inspiration.

The Board of Directors initiated formal succession planning more than a year ago when Parcher was named President, positioning the organization for a thoughtful and orderly transition. Parcher has worked closely alongside Shaffer for several years and brings extensive executive leadership experience to the role.

"Dennis has led Civista with integrity, discipline, and a genuine commitment to people," said Chuck Parcher, President of Civista Bank and incoming President and Chief Executive Officer. "He has been both a colleague and a mentor, and his steady leadership has positioned the bank for continued success. I am grateful for the foundation he has built and that he will remain as Chairman of the Board to help guide this next chapter. I look forward to leading our continued growth and service to our customers, employees, shareholders, and communities."

The interim transition period reflects the Board's long-standing commitment to stability and transparency. With numerous years in executive leadership and nearly two years of experience in the President role, Parcher has already assumed significant responsibilities, ensuring continuity in strategic direction and day-to-day operations.

Reflecting on his legacy, Shaffer has said he hopes Civista will be remembered as "a strong and well-run organization that earned its independence through strong earnings and prudent financial performance, and that grew by employing talented people who cared deeply about our customers and communities."

Shaffer's retirement marks the close of a distinguished career in banking leadership. The Board of Directors extends its sincere appreciation for his years of service and wishes him continued success and fulfillment in retirement.

As Civista enters its next chapter, the Board and executive leadership team remain focused on remaining independent by delivering continued growth, strong financial performance, and long-term value to customers, employees, shareholders, and the communities Civista serves.

About Civista Bancshares

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 www.civb.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/civista-bancshares-announces-retirement-of-dennis-shaffer-chuck-parcher-to-become-ceo-302700014.html

SOURCE Civista Bancshares, Inc.

FAQ

When will Dennis Shaffer step down as CEO of Civista Bancshares (CIVB)?

Shaffer will retire as CEO effective August 28, 2026. According to Civista Bancshares, he will remain as Chairman and on the Board to support a seamless leadership transition.

Who will become CEO of Civista Bancshares (CIVB) after Dennis Shaffer retires?

Charles 'Chuck' Parcher will assume the roles of President and CEO effective August 28, 2026. According to Civista Bancshares, Parcher is the current President and has worked closely with Shaffer.

How long has Dennis Shaffer worked in banking before retiring as Civista CEO (CIVB)?

Shaffer's career spans more than 40 years in the banking industry. According to Civista Bancshares, his tenure emphasized relationship banking, disciplined growth, and community-focused leadership.

Will Dennis Shaffer remain involved with Civista Bancshares (CIVB) after his retirement?

Yes. Shaffer will remain actively involved as Chairman of the Board and continue serving on the Board of Directors. According to Civista Bancshares, this is intended to support a seamless transition.

What size and footprint does Civista Bancshares (CIVB) have as it undergoes CEO transition?

Civista Bancshares is a $4.3 billion financial holding company operating 44 locations across Ohio, Southeastern Indiana and Northern Kentucky. According to Civista Bancshares, the bank offers lending, mortgage, wealth, and leasing services.

Did Civista Bancshares (CIVB) follow a succession plan for the CEO change?

Yes. The Board initiated formal succession planning more than a year ago and named Parcher President, positioning the organization for an orderly transition. According to Civista Bancshares, this reflects the Board's focus on stability and transparency.