CIVISTA BANCSHARES, INC. (“CBI”) was organized under the laws
of the State of Ohio on February 19, 1987 and is a registered financial holding
company under the Gramm-Leach-Bliley Act of 1999, as amended. CBI’s office
is located at 100 East Water Street, Sandusky, Ohio. CBI and its subsidiaries
are sometimes referred to together as the Company.
CIVISTA BANK (“Civista”), owned by the Company since 1987, opened
for business in 1884 as The Citizens National Bank. In 1898, Civista was reorganized
under Ohio banking law and was known as The Citizens Bank and Trust Company.
In 1908, Civista surrendered its trust charter and began operation The Citizens
Banking Company. The name Civista Bank was introduced during the first quarter
of 2015 to solidify our dual Citizens/Champaign brand and distinguish ourselves
from the many other Citizens’ Banks in existing and prospective markets.
Civista maintains its main office at 100 East Water Street, Sandusky, Ohio and
operates branch banking offices in the following Ohio communities: Sandusky
(2), Norwalk (2), Berlin Heights, Huron, Port Clinton, Castalia, New Washington,
Shelby (2), Willard, Greenwich, Plymouth, Shiloh, Akron, Dublin, Plain City,
Russells Point, Urbana (2), West Liberty and Quincy.
The Company’s primary business is incidental to the subsidiary bank.
Civista, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison,
Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general
banking business that involves collecting customer deposits, making loans, purchasing
securities, and offering Trust services.
On a parent company only basis, CBI’s primary source of funds is the
receipt of dividends paid by its subsidiaries, principally Civista. The ability
of Civista to pay dividends is subject to limitations under various laws and
regulations and to prudent and sound banking principles. Generally, subject
to certain minimum capital requirements, Civista may declare a dividend without
the approval of the State of Ohio Division of Financial Institutions unless
the total of the dividends in a calendar year exceeds the total net profits
of the bank for the year combined with the retained profits of the bank for
the two preceding years.
3.17%