Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Q1 2015 Earnings Presentation
27 slides from Civista Bancshares's earnings presentation, May 7, 2015
Slide 1: Investor Presentation First Quarter 2015
Investor Presentation First Quarter 2015 James O. Miller - Chairman, President & Chief Executive Officer Dennis G. Shaffer - Executive Vice President Richard J. Dutton - Senior Vice President, Chief Operating Officer Exhibit 99.1
Slide 2: Cautionary Statement Regarding Forward-Looking Information
2 Cautionary Statement Regarding Forward-Looking Information Comments made in this presentation include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to numerous assumptions, risks and uncertainties. Al
Slide 3: Contact Information
3 Contact Information Civista Bancshares, Inc.’s common shares are traded on the NASDAQ Capital Market under the symbol “CIVB.” The Company’s depository shares, each representing 1/40 th ownership interest in a Series B Preferred Share, are traded on the NASDAQ Capital Market under the symbol “CIVBP
Slide 4: Corporate Overview
Corporate Overview Key Facts 4 Corporate Rebranding ¹ Market data as of May 4, 2015. Corporate Overview th Largest Publicly Traded Commercial Bank in Ohio Community Banking Focused Operations in 11 Ohio Counties – 27 Branches & 1 Loan Production Office Operations in Stable Ohio markets Acquisitive f
Slide 5: Financial Highlights
5 Financial Highlights ($s in thousands, except per share data) March 31, 2015 March 31, 2014 % Change ¹ Market data as of March 31, 2015. Financial Highlights Balance Sheet Assets $1,407,239 $1,250,887 12.50% Gross Loans 987,024 857,913 15.05 Deposits 1,197,316 1,044,820 14.60 Performance Analysis
Slide 6: Investment Highlights
6 Investment Highlights Experienced management team with strong track record Leading Ohio community bank franchise focused on rural and targeted urban markets Demonstrated growth and proven acquirer – Completed acquisition of TCNB Financial Corp. in 2015 Q1 – Opened Loan Production Office on east si
Slide 7: Experienced Management Team
7 James O. Miller Richard J. Dutton Dennis G. Shaffer James E. McGookey Todd A. Michel John A. Betts Paul J. Stark Experienced Management Team Chairman, President & CEO 40 years of banking experience Joined in 1987 SVP & Chief Operating Officer 11 years of banking experience Joined in 2007 EVP, Chie
Slide 8: Branch Footprint
8 Note: Branch information as of March 31, 2015. Branch Footprint Sandusky / Akron / Cleveland, Ohio $556 million in loans $723 million in deposits 11 branch locations #1 deposit market share in Sandusky, Ohio with ~ 43% market share North Central Ohio $96 million in loans $184 million in deposits 7
Slide 9: Attractive Target Markets
9 Attractive Target Markets Sandusky / Akron / Cleveland North Central Ohio West Central Ohio Greater Dayton Ohio
Slide 10: Proven Acquirer & Attractive Organic Growth
10 Total Assets Total Gross Loans Total Deposits Proven Acquirer & Attractive Organic Growth Acquired six banks from 1998 – 2015 serving to increase assets by approximately $920 million Expanded commercial loan growth in Columbus, Akron and Dayton markets – Since year-end 2010, loan portfolios in th
Slide 11: Acquisitive Franchise Positioned for Future Growth
11 TCNB Financial Corp. Citizens National Bank of Southwestern Ohio Acquisitive Franchise Positioned for Future Growth TCNB Transaction Highlights Closed in March 2015 Single Bank Holding Company & Bank Organized in 1999 Total Assets of $105 million Expands Civista’s Presence into the Greater Dayton
Slide 12: Why Rebrand?
12 Why Rebrand? Successful Rebranding Brand Differentiation 316 “Citizens” Banks in the United States 16 “Citizens” Banks in Ohio Alone Citizens / Champaign Bank Branding Confusing for Existing Customers Avoid Customer Identity Confusion on the Internet NASDAQ: CIVB
Slide 13: Deposit Mix
13 Financial information as of March 31, 2015. Non-Interest Bearing Demand 38% Interest Bearing Demand 12% Certificates of Deposit 16% Deposit Mix Q1 2015 Cost of Interest Bearing Deposits: 0.29% Total Deposits: $1,197 million Savings 30% Brokered Deposits 4%
Slide 14: Loan Mix
14 Financial information as of March 31, 2015. CRE Non-Owner Occupied 25% CRE Owner Occupied 17% C&I 11% Loan Mix Q1 2015 Loan Yield: 4.49% Total Gross Loans: $987million Single Family 24% Multi-family 7% Farmland & Agriculture 6% C&D & Land 8% Consumer & Other 2%
Slide 15: Improving Asset Quality
15 Reserves / NPLs NCOs / Average Loans Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Improving Asset Quality 3.16% 3.51% 3.32% 2.22% 1.57% 1.36% 2010 2011 2012 2013 2014 2015 Q1 70.82% 58.02% 53.05% 64.17% 77.18% 76.81% 2010 2011 2012
Slide 16: Asset Quality Improvement
16 NPAs & 90+ Days Delinquent as of 3/31/2015 NPAs & 90+ Days Delinquent as of 12/31/2010 Asset Quality Improvement Gross Loans: $767 million Gross Loans: $987 million Nonaccrual Loans - Current, $8.5 Nonaccrual Loans - Past Due, $13.7 Restructured Loans, $8.6 OREO, $1.8 90+ Days Delinquent, $2.2 No
Slide 17: Peer Leading Net Interest Margin
17 Source: SNL Financial. Comparable peers represents banks located in Ohio, Indiana, and Kentucky with total assets between $1.0 billion and $5.0 billion; excludes merger targets. Peer Leading Net Interest Margin 3.94% 4.00% 3.98% 3.79% 3.79% 3.65% 3.88% 3.83% 3.71% 3.57% 3.59% 3.53% 2010Y 2011Y 20
Slide 18: Effectively Managing Duration
18 Effectively Managing Duration 3.55 3.38 1.54 1.63 Q1 2015 Q1 2014 Assets Liabilities Asset duration of less than two years – Sell fixed rate mortgages – Encourage variable rate commercial lending or swap into variable, if appropriate – Limit fixed rate terms to five years Liability duration great
Slide 19: Non-Interest Metrics & Initiatives
19 Net Operating Expense / Average Assets Non-Interest Income / Average Assets ¹ From AB Magazine, November © 2014 SourceMedia, Inc.. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Con
Slide 20: Profitability & Returns Analysis
20 ¹ LTM basis. Diluted Earnings per Share ROATCE ROAA Net Income Available to Common Shareholders Profitability & Returns Analysis
Slide 21: Increasing Shareholder Value
21 Stock Price Source: SNL Financial. Market Data as of May 4, 2015. ¹ Comparable peers represents banks located in Ohio, Indiana, and Kentucky with total assets between $1.0 billion and $5.0 billion; excludes merger targets. Increasing Shareholder Value Dividend yield of 1.81% Dividend payout ratio
Slide 22: Commitment to Shareholders
22 Commitment to Shareholders Long-term Shareholder Value through Growth and Profitability
Slide 23: Strategic Focus & Growth Strategy
23 Strategic Focus & Growth Strategy Organic growth – Capitalize on commercial and consumer lending opportunities – Grow core deposit base in rural and targeted urban markets – Identify and evaluate loan production opportunities in select metro markets Acquisition opportunities – Rural – Urban Impro
Slide 24: Why Invest in CIVB?
24 Strong and Seasoned Management Team Leading Ohio Community Banking Franchise Proven and Disciplined Acquirer Platform to Support Future Growth Attractively Valued Versus Peers Why Invest in CIVB?
Slide 25: Appendix
Appendix
Slide 26: Slide 26
Slide 27: Thank You
Thank You