Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Investor Presentation (September 2022)
42 slides from Civista Bancshares's investor presentation, Sep 21, 2022
Slide 1: Investor Presentation Second Quarter 2022
Investor Presentation Second Quarter 2022 Dennis G. Shaffer - Chief Executive Officer & President Richard J. Dutton - Senior Vice President, Chief Operating Officer NASDAQ: CIVB Exhibit 99.1
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: www.civb.com Dennis G Shaffer Chief Executive Officer & President dgshaffer@civb.com Telephone: 888.645.4121
Slide 4: Who We Are
BANCSHARES, INC. Who We Are
Slide 5: Who We Are
Who We Are Bank founded and headquartered in 1884 in Sandusky, Ohio 10th Largest Publicly Traded Commercial Bank Headquartered in Ohio 458 Employees Community Banking Focused Operations in 12 Ohio, 2 Indiana and 1 Kentucky Counties 34 Branches & 2 Loan Production Offices Operations in the 5 largest
Slide 6: Who We Are: Markets and Locations
Who We Are Deposit market share information as of June 30, 2021. Sandusky/Norwalk/Port Clinton, Ohio 9 Locations $425 million in loans $933 million in deposits #1 deposit market share in Sandusky, Ohio with ~52% market share Cleveland/Akron, Ohio 3 Locations $672 million in loans $173 million in dep
Slide 7: Who We Are: Community bank franchise in growth markets
Who We Are Community bank franchise in growth markets with an established operating model Gather attractive low-cost deposits (11 bps total cost of deposits) Generate loans organically in select growing markets (operations in the 5 largest MSAs in Ohio) Strong capital position Disciplined underwriti
Slide 8: Who We Are: Senior Management Team
Who We Are Dennis G. Shaffer SVP & Chief Operating Officer 36 years of banking experience Joined in 2007 Richard J. Dutton SVP & Chief Lending Officer 34 years of banking experience Joined in 2016 Charles A. Parcher CEO & President President, Civista Bank 36 years of banking experience Joined in 200
Slide 9: Congratulations!
CIVISTA BANCSHARES, INC. Congratulations! pe gyysta © DiversityJobs m EMPLOYER
Slide 10: Current Initiatives
DK civisTA Current Initiatives
Slide 11: Overview of The Henry County Bank / Comunibanc
Source: S&P Global Market Intelligence. Pro Forma Branch Footprint Company Highlights Valuable Core Deposit Franchise 2021 Q3 Financial Highlights ($ millions) 28, 22, 102 60, 77, 158 240, 137, 33 250, 175, 64 Overview of The Henry County Bank Headquartered in Napoleon, OH, approximately 35 miles so
Slide 12: Market Expansion in the Attractive Northwest Ohio Region
Source: S&P Global Market Intelligence; census.gov; fred.stlouisfed.org; toledo.oh.gov; toledoregion.com; rgp.org. Market Overview 3-Year MSA Deposit Growth CAGRs Major Employers Toledo, Ohio Northwest Ohio 28, 22, 102 60, 77, 158 240, 137, 33 250, 175, 64 Market Expansion in the Attractive Northwes
Slide 13: Significantly Accelerates Presence & Growth in Northwest Ohio
Significantly Accelerates Presence & Growth in Northwest Ohio Adds 7 branches in Northwest Ohio and $276 million in low-cost core deposits Comunibanc’s ~60% loan-to-deposit ratio provides ample liquidity for Civista to accelerate its loan growth throughout Northwest Ohio, including the attractive Gr
Slide 14: Current Initiatives: Leveraging Technology
Current Initiatives Enhance utilization of technology to improve efficiency and customer experience Curbside banking E-Sign Digital Transformation Enhanced Treasury Management Services and Reporting Improved in-branch and online access Retail Commercial Introduced Online Retail Deposit Account Openi
Slide 15: Current Initiatives: Civista Digital Banking
Current Initiatives Civista Digital Banking
Slide 16: Financial Trends
DK civisTA Financial Trends
Slide 17: Financial Trends
Financial Trends June 30, 2022 includes $3.7 million of PPP loans; June 30, 2021 includes $153.0 million of PPP loans Presented on an annualized basis 3. Non-GAAP reconciliation on page 37
Slide 18: Financial Trends: Total Assets
Financial Trends Total Assets1 ($ in millions) 1. 2018 includes the addition of $578 million in assets due to United Community Bancorp acquisition CAGR 16.5%
Slide 19: Financial Trends: Total Gross Loans
Financial Trends Total Gross Loans1 ($ in millions) 1. 2022 includes $3.7 million of PPP loans. 2021 includes $43.2 million of PPP loans. 2020 includes $217.3 million of PPP loans. 2018 includes the addition of $299 million in loans due to United Community Bancorp acquisition. CAGR 13.6%
Slide 20: Financial Trends: Loan Mix
Financial Trends Total Gross Loans: $2.1 billion CRE to RBC Ratio: 301.3% Loan Mix ($ in millions)
Slide 21: Financial Trends: Credit Quality
1. LTM basis 2. Excluding PCI (purchased credit impaired) loans. Financial Trends Reserves / NPLs NCOs / Average Loans 1 Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Loan Loss Reserves / Gross Loans Nonaccrual & 90 days Past Due2 / Gross Loans
Slide 22: Financial Trends: Total Deposits
Financial Trends Total Deposits1 ($ in millions) 1. 2018 includes the addition of $476 million in deposits due to United Community Bancorp acquisition CAGR 17.1%
Slide 23: Financial Trends: Deposit Mix
1. Ratio excludes $3.7 million of PPP loans and $83.3 million of tax refund processing deposits Financial Trends Total Deposits: $2.5 billion Loan/Deposit Ratio: 81.4%1 34% Noninterest Bearing Demand Deposits are 76% Commercial and 24% Retail Deposit Mix
Slide 24: Total Cost of Deposits and Yield on Loans vs Peers
2022 Peer data as of 6/30/2022 or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states. Total Cost of Deposits (%) Yield on Loans (%) Financial Trends
Slide 25: Financial Trends: Net Interest Margin
Financial Trends 2022 peer data as of 6/30/2022, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states. Net Interest Margin
Slide 26: Non-Interest Income and Expense
Financial Trends 1. 2018 efficiency ratio is adjusted for merger related expenses; 2021 efficiency ratio is adjusted for nonrecurring items; 2022 efficiency ratio is adjusted for merger related expenses. Page 38,39 and 40 show Non-GAAP reconciliations Fee income platform Service charges on deposit a
Slide 27: Capital Management
Financial Trends 1. TCE Non-GAAP reconciliation on page 37 2. LTM basis 3. Page 41 shows 2018 ratios adjusted for merger related expenses Raised $32.8 million of capital (issued 1,610,000 shares) in February 2017 Additional $104.7 million of capital (issued 4,277,430 shares) related to UCB merger in
Slide 28: Providing Shareholder Value
Providing Shareholder Value 28
Slide 29: Net Income & Earnings Per Share
1. Q2 2022 presented on LTM basis 2. Page 41 shows 2018 ratios adjusted for merger related expenses Providing Shareholder Value Net Income & Earnings Per Share (Available to Common) (LTM - $ in millions)
Slide 30: Total Shareholders' Equity & Return on Tangible Equity
1. LTM basis 2. Non-GAAP reconciliation on page 37 3. 2022 Q2 includes tax effected net change of $55MM in unrealized loss from 12/31/21 to 6/30/22. The change in unrealized loss is 10.4% of securities AFS at 6/30/22 Providing Shareholder Value Total Shareholders’ Equity & Return on Tangible Equity1
Slide 31: Tangible Book Value per Share
Providing Shareholder Value Non-GAAP reconciliation on page 37 2. 2022 Q2 includes tax effected net change of $55MM in unrealized loss from 12/31/21 to 6/30/22. The change in unrealized loss is 10.4% of securities AFS at 6/30/22 Tangible Book Value per Share1,2
Slide 32: Why Civista?
Why Civista? 32
Slide 33: Why Civista? Experienced Acquirer & Organic Growth Model
Why Civista? Completed 4 acquisitions since 2007, including the acquisition of Comunibanc Corp, which closed July 1, 2022 On June 27, 2022, opened de novo branch in Gahanna, Ohio, located in Franklin County (Columbus MSA) Experienced Acquirer & Organic Growth Model Expanded commercial loan growth in
Slide 34: Why Civista?
Why Civista? Community bank franchise poised for acquisitions and strong core deposit franchise Strong capital position Strong credit culture and asset quality Experienced acquirer Continued strong NIM Experienced management team with an average of 30 years in banking Strategically positioned in att
Slide 35: Additional Information
> CIVISTA BANCSHARES, INC. Additional Information
Slide 36: Operating Results
CIVISTA Operating Results BANCSHARES, INC. (Ss in thousands, except per share data) Net Interest Income $54,502 $66,107 $85,100, $89,727 $95,425 | $94,956, Provision for Loan Losses ° 780 1,035 10,112 830 700 Noninterest Income 16,334 18,131 22,443 28,182 31,452 26,515 Noninterest Expense 48,604 66,
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation 1. LTM basis
Slide 38: Non-GAAP Reconciliation
> CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. ($s in thousands) YTD 2018 Adjusted Efficiency ratio Noninterest expense - GAAP $ 66,679 Acquisition and integration expense (12,735) Adjusted noninterest expense 53,944 Net interest income - GAAP 66,107 Effect of tax-exempt income 1,062 Adjusted ne
Slide 39: Non-GAAP Reconciliation
» €s CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. ($s in thousands) YT 2021 Adjusted Efficiency ratio Noninterest expense - $ 78,484 FHLB prepayment ee (3,717) Adjusted noninterest expense 74,767 Net interest income - GAAP 95,425 Noninterest Income - GAAP 31,452 Gain on sale of Visa B shares (1,
Slide 40: Non-GAAP Reconciliation
BANCSHARES, INC. » €s CIVISTA Non-GAAP Reconciliation ($s in thousands) Adjusted Efficiency ratio Noninterest expense - GAAP $ 20,379 Acquisition and integration expense (289)| Adjusted noninterest expense 20,090 Net interest income - GAAP. 24,268 Effect of tax-exempt income 503 Adjusted net interes
Slide 41: Non-GAAP Reconciliation
CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. (Ss in thousands, except per share data) ‘ge Mane an GAAP Net Interest Income $66,107 $0 $66,107 Provision for Loan Losses. 780 o 780 Noninterest Income 18,131 413, 18,544 Noninterest Expense 66,679 (12,735) 53,944 Net Income/(Loss) 14,139 11,470 25,6
Slide 42: Thank You
Thank You
Civista Bancshares — Investor Presentation (September 2022) on 6ix