Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Q3 2025 Earnings Presentation
44 slides from Civista Bancshares's earnings presentation, Oct 23, 2025
Slide 1: Investor Presentation Third Quarter 2025
Investor Presentation Third Quarter 2025 Dennis G. Shaffer - Chief Executive Officer & President Charles A. Parcher – Executive Vice President Richard J. Dutton - Senior Vice President, Chief Operating Officer Ian Whinnem – Senior Vice President, Chief Financial Officer NASDAQ: CIVB 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements. This presentation may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements express management’s current expectations, estimates or projections of future events, results or lon
Slide 3: Contact Information
Contact Information ➢ Civista Bancshares, Inc.’s common shares are traded on the NASDAQ Capital Market under the symbol “CIVB.” ➢ Additional information can be found at: civb.com civista.bank ➢ Dennis G. Shaffer ➢ Chief Executive Officer & President ➢ dgshaffer@civista.bank ➢ Telephone: 888.645.4121
Slide 4: Who We Are
Who We Are 4
Slide 5: About our Footprint (Ohio & Indiana)
About our Footprint (Ohio & Indiana) ➢ Population: Ohio is the 7th most populous state with Civista has a presence in Ohio’s 6 largest MSAs approx. 11.8 million residents; 10th in density (289 1) Cleveland-Elyria MSA: (~2.1 million people) – Cleveland and surrounding cities in the northeast part of
Slide 6: Geographical Footprint
Geographical Footprint ➢ Bank founded and headquartered in 1884 in Sandusky, Ohio ➢ 10th Largest Publicly Traded Commercial Bank Headquartered in Ohio ➢ 531 Employees (524 FTE) ➢ Community Banking Focused Operations in 14 Ohio, 2 Indiana and 1 Kentucky Counties – 40 Branches & 2 Loan Production Offi
Slide 7: Market Share in our Footprint
Market Share in our Footprint ➢ Northwest Ohio ➢ Sandusky/Norwalk/Port Clinton, Ohio ➢ 6 Locations ➢ 9 Locations ➢ $238 million in loans ➢ $651 million in loans ➢ $207 million in ➢ $1,535 million in deposits deposits ➢ #1 deposit market share in Sandusky, ➢ ~13% deposit Ohio with ~67% market share ➢
Slide 8: Announced July 2025 Transactions
Announced July 2025 Transactions Strategic Acquisition of Farmers Savings Bank Follow-On Offering ➢ Strengthens presence in Cleveland MSA (Medina and Lorain) counties, ➢ $70 million common stock base deal plus the enhancing competitive advantage and allowing for greater customer full overallotment o
Slide 9: Capital Ratios Post Acquisition
Capital Ratios Post Acquisition CIVB Stand-Alone as of March 31, 2025 CIVB Combined with Farmers Savings Bank at Closing¹ CIVB Combined with Farmers Savings Bank and Gross Proceeds of $80.5 Million Including Full Overallotment Option at Closing¹ 362% 340% 292% 17.2% 15.0% 14.5% 12.9% 10.6% 10.7% 10.
Slide 10: 10-Year History of Civista
10-Year History of Civista Organic Growth supplemented with M&A Acquisition: ➢ Civista has a history of steady organic growth supplemented with opportunistic acquisitions Acquisition: Terminated tax refund processing: Announced July 2025 supporting consistent dividend increases January 2024 $285M in
Slide 11: Disciplined Acquirer M&A Target Criteria
Disciplined Acquirer M&A Target Criteria Recent History: ◊ Community banks positioned in Ohio ➢ July 2025, announced the or contiguous states signing of a definitive merger agreement to ◊ Banks with assets between ~$300 million acquire The Farmers Savings and ~$1.5 billion Bank in Spencer, Ohio ◊ Lo
Slide 12: Why Invest in Civista?
Why Invest in Civista? ➢ 141-year-old community bank franchise with an established operating model in rural and growth markets – Since 2019, Civista has increased total deposits $1.55 billion or 92% (72% of growth is organic) – Low-cost deposit franchise (163 bps total cost of deposits (excluding br
Slide 13: Executive Team
Executive Team CIVISTA BANCSHARES, INC. Charles A. Parcher , ) Richard J. Dutton Senior Vice President Chief Operating Officer Dennis G. Shaffer Chief Executive Officer Executive Vice President President Civista Bank Michael D. Mulford Senior Vice President Chief Credit Officer Robert L. Katitus Sen
Slide 14: Community
CIVISTA BANCSHARES, INC. CRAIN'S CLEVELAND BUSINESS 2024 - Cent lovers "Ohio MULTI-YEAR WINNER isstrongly encouraged and supported with corporate donations, matching gifts and employee voluntaeria. © DiversityJobs TOP DIVERSITY EMPLOYER 2024 Tremendous 25: #18 workplaces that CARES United Way of Gre
Slide 15: Current Events
» CIVISTA BANCSHARES, INC. Current Events
Slide 16: Deposits
Deposits ➢ $3.2 billion in Total Deposits – Excluding brokered, cost of deposits are 163 bps and deposits grew organically 4.6% YoY ➢ Civista Bank is 141 years old with a generational and relationship driven deposit core ➢ 84.2%* of deposits insured ➢ Excluding $509 million of primarily public opera
Slide 17: Liquidity
Liquidity ➢ Cash and Securities are 22.3% of Total Deposits – All securities are held for sale ➢ Strong on-balance sheet liquidity – $485 million of cash and unpledged securities ➢ Ready access to off-balance sheet funding – Immediate access to $1.6 billion in funding from FHLB, Federal Reserve and
Slide 18: Credit
Credit ➢ Credit metrics remain stable and strong – Allowance for credit losses to loans was 1.30% – Strong allowance for credit losses of $40.3 million – Nonperforming loans as percent of total loans is 0.74% – Net charge offs as percent of average loans is 0.01%* ➢ Virtually no central business off
Slide 19: Capital
Capital ➢ Total shareholders’ equity of $499 million – Tier 1 risk-based capital ratio of 14.19% – Total risk-based capital ratio of 17.80% ➢ Civista continues to create capital through earnings ➢ “Well Capitalized” by regulatory standards ➢ Tangible Common Equity ratio of 9.21% ➢ Successful $70 mil
Slide 20: Strategic Priorities for 2024 – 2027
Strategic Priorities for 2024 – 2027 • Re-skill, up-skill, cross-skill • Deepen existing relationships current employees • Execute small business • Continue to focus on culture initiative that promotes success and • Increase # of relationships; growth for employees and and lifetime customer value or
Slide 21: Initiatives in Flight
Initiatives in Flight ➢ Low/Lower Cost Funding ➢ Earnings Improvement – July 2025 - Launched MANTL online deposit – Net income increased $12.2 million or 55.8% YoY (YTD) account opening platform – EPS increased 48% or about $0.66 YoY (YTD) – Announced acquisition of The Farmers – Non-interest income
Slide 22: Financial Trends
» CIVISTA BANCSHARES, INC. Financial Trends
Slide 23: Financial Trends: Financial Highlights
Financial Trends Financial Highlights ($s in thousands, except per share data) Sep 30 Sep 30 2025 2024 % Change Balance Sheet Assets $4,113,334 $4,061,423 1.28% Gross Loans & Leases (excluding HFS) 1 $3,095,994 $3,043,946 1.71% Deposits $3,230,463 $3,223,732 0.21% Sep 30 Sep 30 2025 2024 % Change Pe
Slide 24: Total Assets
Financial Trends Total Assets1 ($ in millions) $4,098 $4,113 $3,538 $3,616 $3,012 $2,763 2020 2021 2022 2023 2024 2025 Q3 1. 2022 includes the addition of $316 million in assets due to Comunibanc Corp acquisition. 24
Slide 25: Total Gross Loans and Leases
Financial Trends Total Gross Loans and Leases1, 2 ($ in millions) $3,081 $3,096 $2,861 $2,547 $2,057 $1,998 2020 2021 2022 2023 2024 2025 Q3 1. 2020 includes $217.3 million of PPP loans. 2021 includes $43.2 million of PPP loans. 2022 includes $819 thousand 2. Excludes held for sale and deferred loan
Slide 26: Loan Mix
Financial Trends Loan Mix ($ in millions) ➢ Total Loans: $3.1 billion 26
Slide 27: CRE Non-Owner Concentrations
Financial Trends CRE Non-Owner Concentrations ($ in millions) ➢ Total: $900.3 million 27
Slide 28: CRE Non-Owner Office Details
Financial Trends CRE Non-Owner Office Details ($ in millions) Total: $202 million 28
Slide 29: Civista Leasing and Equipment Financing
Financial Trends Civista Leasing and Equipment Financing ($ in millions) ➢ 2025 YTD Production • YTD Funded: $47.7 million • Sold: $21.5 million • Net Production: $26.2 million ➢ Average Yield on Total Portfolio: 9.31% ➢ Average Yield on Q3 Originations: 9.34% Targeted Industries: ❖ Propane, Recycli
Slide 30: Loan NPAs and Loss Reserves
Financial Trends Loan NPAs Loss Reserves & 90+PD //Gross AssetsLoans Loan LossReserves Reserves/ /NPLs Gross Loans Nonperforming Assets / Total Assets Net Chargeoff Ratio1 1. LTM basis 30
Slide 31: Total Deposits
Financial Trends Total Deposits1,2 ($ in millions) 1. 2022 includes the addition of $271 million in deposits due to the Comunibanc Corp acquisition. 31 2. Brokered deposits have decreased $69 million from December 31, 2024 to September 30, 2025
Slide 32: Deposit Mix
Financial Trends Deposit Mix ($ in millions) ➢ Total Deposits: $3.2 billion ➢ Loan/Deposit Ratio: 94.6% Cost of Cost of Year Deposits Funding 2020 0.33% 0.43% 2021 0.17% 0.24% 2022 0.15% 0.39% 2023 1.19% 1.72% 2024 2.16% 2.55% 2025 Q3 2.00% 2.27% 32
Slide 33: Net Interest Margin
Financial Trends ➢ Net Interest Margin (%) 3.70% 3.75% 3.69% 3.70% 3.59% 3.47% 3.51% 3.51% 3.58% 3.49% 3.35% 3.30% 3.39% 3.28% 3.12% 3.21% 3.23% 2.91% 2020Y 2021Y 2022Y 2023Y 2024Y MRQ CIVB Peer Median Peer Top Quartile Better than peer top quartile Total Cost of Deposits (%) Yield on Loans (%) Bett
Slide 34: Non-Interest Income and Expense
Financial Trends Non-Interest Income ➢ Non-interest income 20% of revenue over last twelve months; across diverse revenue streams ➢ Gain on Sale of Loans and Leases – Gain on sale of mortgages, 2025 Q3 and 2024 Q3 was $803 thousand and $654 thousand, respectively – Gain on sale of leases, 2025 Q3 an
Slide 35: Capital Management
Financial Trends Capital Management ➢ July 2025 successfully issued $80.5 million of common stock ➢ November 2021 issued $75 million in 3.25% subordinated debt (becomes floating in Q4 2026) ➢ Authorized $13.5 million stock repurchase plan in April 2025 ➢ No repurchases were made in the past 5 quarte
Slide 36: Capital Ratios Post Acquisition
Capital Ratios Post Acquisition CIVB Stand-Alone as of March 31, 2025 CIVB Combined with Farmers Savings Bank at Closing¹ CIVB Combined with Farmers Savings Bank and Gross Proceeds of $80.5 Million Including Full Overallotment Option at Closing¹ 362% 340% 292% 17.2% 15.0% 14.5% 12.9% 10.6% 10.7% 10.
Slide 37: Why Civista?
DK CIVISTA Why Civista?
Slide 38: 10-Year History of Civista
10-Year History of Civista Organic Growth supplemented with M&A Acquisition: ➢ Civista has a history of steady organic growth supplemented with opportunistic acquisitions Acquisition: Terminated tax refund processing: Announced July 2025 supporting consistent dividend increases January 2024 $285M in
Slide 39: Organic Growth Model
Organic Growth Model ➢ Expanded commercial loan growth in Columbus, Cleveland, Akron, Dayton, Toledo and Cincinnati markets • Loan portfolios in these markets has increased from $1.27 billion in 2019 to $2.31 billion on September 30, 2025. Growth of $1.04 billion or 82% (represents 74% of Civista’s
Slide 40: Why Invest in Civista?
Why Invest in Civista? ➢ 141-year-old community bank franchise with an established operating model in rural and growth markets – Since 2019, Civista has increased total deposits $1.55 billion or 92% (72% of growth is organic) – Low-cost deposit franchise (163 bps total cost of deposits (excluding br
Slide 41: Additional Information
DK CIVISTA Additional Information
Slide 42: Operating Results
Operating Results ($s in thousands, except per share data) Full Year Operating Results Q3 LTM 2020 2021 2022 2023 2024 2025 Net Interest Income $89,727 $95,425 $110,204 $125,496 $116,711 $133,487 Provision for Loan Losses 10,112 830 1,752 4,435 5,364 3,315 Noninterest Income 28,182 31,452 29,077 37,
Slide 43: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($s in thousands, except per share data) As of and for the Years Ended December 31, Q3 2020 2021 2022 2023 2024 2025 Tangible Common Equity Total Shareholder's Equity - GAAP $ 350,108 $ 355,212 $ 334,835 $ 372,002 $ 388,502 $ 499,028 Less: Goodwill and intangible assets 84,92
Slide 44: Thank You
Thank You 44