Business
Civista Bancshares, Inc. Announces Agreement to Acquire The Farmers Savings Bank; Launches Public Offering of Common Shares
Sandusky, Ohio based Civista Bancshares, Inc. ("Civista") (NASDAQ: CIVB) and The Farmers Savings Bank ("Farmers") today announced the signing of a definitive merger agreement pursuant to which Civista will acquire Farmers. Based on financial data as of March 31, 2025, the combined company would have total assets of approximately $4.4 billion, total net loans of approximately $3.2 billion and total deposits of approximately $3.5 billion.
About this update from Civista Bancshares, Inc.
[{"type":"text","content":"SANDUSKY, Ohio and SPENCER, Ohio, July 10, 2025 /PRNewswire/ -- Sandusky, Ohio based Civista Bancshares, Inc. ("Civista") (NASDAQ: CIVB) and The Farmers Savings Bank ("Farmers") today announced the signing of a definitive merger agreement pursuant to which Civista will acquire Farmers. Based on financial data as of March 31, 2025, the combined company would have total assets of approximately $4.4 billion, total net loans of approximately $3.2 billion and total deposits of approximately $3.5 billion.","length":524,"tagName":"p"},{"type":"image","alt":"Civista Bancshares, Inc.","displaySize":"","headline":null,"caption":"Civista Bancshares, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":140,"url":"https://media.zenfs.com/en/prnewswire.com/628735d706b0c629d326f5f9afa717fc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/ucMDGZW3mWlI6qCfdYelIw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI0NztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/628735d706b0c629d326f5f9afa717fc","width":400,"height":140}},"href":"https://mma.prnewswire.com/media/241852/civista_bancshares_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Civista today also announced it launched an underwritten public offering of its common shares. Civista expects to grant the underwriters a 30-day option to purchase additional common shares in the offering. Civista plans to use the net proceeds from the offering for general corporate purposes, which may include supporting organic growth opportunities and future strategic transactions. Piper Sandler & Co. is serving as the sole book-running manager of the offering.","length":472,"tagName":"p"},{"type":"text","content":"The acquisition of Farmers will add two branches in Medina and Lorain Counties in Northeast Ohio, as well as approximately $183 million in low-cost core deposits. As of March 31, 2025, Farmers reported total assets of $285 million and net loans of $104 million. Management believes that this acquisition will allow Civista to bring its enhanced commercial lending platform to Farmers' strong markets and deploy Farmers' excess liquidity, with its 46% loan-to-deposit ratio, to drive continued growth.","length":508,"tagName":"p"},{"type":"text","content":""We are excited to welcome Farmers Savings Bank into the ...