Civista Bancshares, Inc. reports news centered on community banking, balance-sheet performance, dividends and corporate governance for its NASDAQ-listed common stock. The financial holding company operates through Civista Bank, which provides full-service banking, commercial lending, mortgage and wealth management services across Ohio, Southeastern Indiana and Northern Kentucky.
Recurring updates include quarterly earnings releases, net interest income and margin trends, loan and deposit mix, brokered deposits, FHLB advances, and common dividend declarations. Company news also covers the completed Farmers Savings Bank merger into Civista Bank, integration of acquired branches and customers, Civista Leasing & Finance commercial equipment leasing activity, investor presentations, and changes in board or officer roles.
Civista Bancshares, Inc. (NASDAQ: CIVB) announced the release of its second quarter 2022 financial results set for July 28, 2022, before market open. A conference call will follow at 1:00 p.m. ET the same day to discuss these results, with analysts invited to participate in a Q&A session. Civista, a $3.5 billion financial holding company based in Sandusky, Ohio, operates 43 branches across Ohio, Indiana, and Kentucky and is committed to transparency and investor communication.
Civista Bancshares, Inc. (NASDAQ: CIVB) has successfully completed its acquisition of Comunibanc Corp. and its subsidiary, The Henry County Bank, effective July 1, 2022. This transaction expands Civista's total assets to approximately $3.5 billion. Comunibanc shareholders will receive 1.1888 shares of Civista common stock plus $30.13 in cash for each share of Comunibanc stock. The merger aims to strengthen Civista's presence in Henry and Wood Counties, with a focus on enhancing customer service and fostering community ties.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend of 14 cents per common share, payable on May 25, 2022, to shareholders of record as of May 10, 2022. This dividend totals approximately $2.0 million and corresponds to an annualized yield of 2.53%, based on the closing stock price of $22.16 on April 27, 2022. Civista is a $3.2 billion financial holding company with operations in Northern, Central, and Southwestern Ohio, Southeastern Indiana, and Northern Kentucky.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced the completion of its registered exchange offer for $75 million of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The exchange offer, which expired on April 28, 2022, saw 100% of the Original Notes validly tendered and accepted for exchange. The purpose of the exchange was to fulfill an obligation under a registration rights agreement and does not represent new financing. Settlement is expected around May 4, 2022.
Civista Bancshares, Inc. reported a net income of $8.5 million for Q1 2022, down from $10.8 million in Q1 2021. The diluted EPS is $0.57, a decrease from $0.68 a year prior. Net interest income fell by $896,000 (3.8%), attributed to reduced interest income from PPP loans. Noninterest income also decreased by 16.8% to $7.6 million. Notably, the efficiency ratio increased to 65.2% from 57.4% year-over-year. Civista is advancing in its acquisition of Comunibanc Corp., with plans to close in Q3 2022.
Civista Bancshares (NASDAQ:CIVB) announced the extension of its exchange offer for $75 million of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The offer, initially set to expire on April 26, 2022, will now conclude on April 28, 2022. As of the previous expiration date, approximately $72.5 million of the outstanding notes had been tendered, representing 96.7% of the total. The exchange offer is governed by a prospectus dated March 8, 2022, and aims to enhance the liquidity of the notes issued in a private placement.
Civista Bancshares, Inc. (NASDAQ:CIVB) has extended its exchange offer for its $75 million of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, initially set to expire on April 21, 2022. The new deadline is now April 26, 2022. As of the last deadline, approximately $71.5 million, or 95.3%, of the outstanding notes had been tendered for exchange. All other terms remain unchanged. The exchange offer is governed by the prospectus dated March 8, 2022, which was filed with the SEC.
Civista Bancshares, Inc. (NASDAQ: CIVB) has announced the extension of its registered exchange offer for $75,000,000 of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, originally issued on November 30, 2021. The new expiration date for the exchange offer is April 21, 2022, with approximately 91% of the outstanding notes valued at $68,250,000 already tendered for exchange as of April 14, 2022. The exchange offer terms remain the same, and assistance can be obtained from the exchange agent, UMB Bank, N.A.
Civista Bancshares, Inc. (NASDAQ:CIVB) will release its first quarter 2022 financial results before the market opens on April 28, 2022. A conference call and webcast will follow on the same day at 1:00 p.m. ET to discuss the results. Civista, a $3.0 billion financial holding company based in Sandusky, Ohio, operates 35 locations across Ohio, Indiana, and Kentucky. The company's shares are traded under the symbol CIVB.
Civista Bancshares, Inc. (NASDAQ:CIVB) announced a quarterly dividend of 14 cents per common share, payable on March 1, 2022 to shareholders of record on February 15, 2022. This dividend amounts to approximately $2.1 million and provides an annualized yield of 2.35% based on the closing stock price of $23.80 on February 2, 2022. Civista, a $3.0 billion financial holding company, operates across Ohio, Indiana, and Kentucky, with its banking subsidiary, Civista Bank, managing 35 locations.