Investment Banking - Civista Bancshares, Inc.

Transactions | Banking

Client: Civista Bancshares, Inc.
Industry: Banking
Transaction Type: Common Stock Offering
Role: Co-Manager

  • Civista Bancshares, Inc. (NASDAQ: CIVB) was organized under the laws of the State of Ohio in February 1987 under the name “First Citizens Banc Corp.” In May 2015, the Company changed to its current name, Civista Bancshares, Inc.
  • Through organic growth and six acquisitions since the formation, Civista has transformed from a $176 million company into a $1.4 billion financial services company operating in Northern, Mid-Central, and Southwestern Ohio.
  • Through its subsidiary bank, Civista Bank, the Company provides community banking products and services to customers located in both urban and rural areas in its markets.
  • As of December 31, 2016, Civista Bancshares had assets of $1.4 billion, gross loans of $1.1 billion, deposits of $1.1 billion and total equity of $138 million.
  • The offering resulted in gross proceeds of approximately $35.0 million and net proceeds of approximately $32.8 million.
  • The Company intends to use the net proceeds for general corporate purposes, including possibly contributing capital to Civista Bank to maintain or increase regulatory capital levels or support growth in its lending and deposit-gathering activities, financing expansion of its branch system and the possible acquisition of other financial institutions.
  • The transaction closed on February 24.
  • ​Boenning served as a co-manager in the offering.​