Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Investor Presentation (November 2016)
26 slides from Civista Bancshares's investor presentation, Nov 17, 2016
Slide 1: Investor Presentation Third Quarter 2016
Investor Presentation Third Quarter 2016 James O. Miller - Chairman, President & Chief Executive Officer Dennis G. Shaffer - Executive Vice President & President of Civista Bank Richard J. Dutton - Senior Vice President, Chief Operating Officer Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements 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. Although management believes that th
Slide 3: Contact Information
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 1/40th 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 10th Largest Publicly Traded Commercial Bank in Ohio Community Banking Focused Operations in 12 Ohio Counties 27 Branches & 1 Loan Production Office Operations in 4 of the top 5 Ohio MSAs Acquisitive Franchise Poised for Future Growth Corporate Overview Full-Service Banking Organi
Slide 5: Financial Highlights
Financial Highlights - Diluted EPS calculated as if all preferred shares have converted to common - ROATCE equals annualized net income, adjusted for amortization of intangibles, divided by average common equity minus average intangible assets
Slide 6: Investment Highlights
Investment Highlights Experienced management team with strong track record Leading Ohio community bank franchise focused on rural and targeted urban markets Gather attractive low-cost rural deposits and lend in select urban markets Demonstrated organic growth and proven acquirer Opened Loan Producti
Slide 7: Investment Highlights
Investment Highlights Demonstrated earnings growth YTD FTE Net Interest Margin 3.89% - We have maintained this level over the last twelve months in this low-rate, flatter yield curve environment. Strong noninterest income growth enhanced by unique tax refund processing platform Y-o-Y net income avai
Slide 8: Experienced Management Team
Experienced Management Team Chairman, President & CEO 42 years of banking experience Joined in 1986 James O. Miller SVP & Chief Operating Officer 30 years of banking experience Joined in 2007 Richard J. Dutton SVP & Chief Lending Officer 28 years of banking experience Joined in 2016 Charles A. Parch
Slide 9: Branch Footprint
Branch Footprint Note: Market share information as of June 30, 2016. Sandusky / Akron / Cleveland, Ohio $627 million in loans $666 million in deposits 11 locations #1 deposit market share in Sandusky, Ohio with ~ 48% market share North Central Ohio $86 million in loans $176 million in deposits 7 loc
Slide 10: Attractive Target Markets
Attractive Target Markets Sandusky / Akron / Cleveland North Central Ohio West Central Ohio Greater Dayton Ohio
Slide 11: Proven Acquirer & Attractive Organic Growth
Proven Acquirer & Attractive Organic Growth Expanded commercial loan growth in Columbus, Cleveland, Akron and Dayton markets Since year-end 2011, loan portfolios in these markets have increased from $163 million to $429 million through Q3 2016 Maintain a low cost, locally generated deposit base Expa
Slide 12: Deposit Mix and Cost of Deposits
2016 Peer data as of September 30, 2016, or the latest available date. Source: SNL Financial. Comparable peers represents banks located in OH, IN, IL, MI, WI, WV and PA with total assets between $1.0 billion and $2.0 billion. Deposit Mix 2016 Total Cost of Deposits: 0.16% 30.1% Noninterest Bearing D
Slide 13: Loan Mix and Loan Yield
2016 Peer data as of September 30, 2016, or the latest available date. Source: SNL Financial. Comparable peers represents banks located in OH, IN, IL, MI, WI, WV and PA with total assets between $1.0 billion and $2.0 billion. Loan Mix 2016 Loan Yield: 4.63% Total Gross Loans: $1.0 billion Yield on L
Slide 14: Improving Asset Quality
Improving Asset Quality Reserves / NPLs NCOs / Average Loans Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets
Slide 15: Effectively Managing Assets & Liabilities
Effectively Managing 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 greater than three years Focus on low-cost “sticky” deman
Slide 16: Peer Leading FTE Net Interest Margin
Peer Leading FTE Net Interest Margin 2016 Peer data as of September 30, 2016, or the latest available date. Source: SNL Financial. Comparable peers represents banks located in OH, IN, IL, MI, WI, WV and PA with total assets between $1.0 billion and $2.0 billion.
Slide 17: Non-Interest Metrics & Initiatives
Non-Interest Metrics & Initiatives ¹ From American Banker Magazine, September 2016 © 2016 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 Content without expressed wri
Slide 18: Profitability & Returns Analysis
Profitability & Returns Analysis 1 LTM basis Diluted Earnings per Share ROATCE ROAA Net Income Available to Common Shareholders
Slide 19: Capital Position
CIVISTA Capital Position (Ss in thousands, except per share data) For the Years Ended December 31, 2012 2013 2014 2016 Q3 Converted Total Equity $102,528 $103,980 $128,376 = $115,909 $125,173] $138,309 $138,309 Preferred Equity $23,151 $23,184 $46,316 $23,132 $22,273) $19,776) $0| Common Equity $79,
Slide 20: Increasing Shareholder Value
Increasing Shareholder Value Source: SNL Financial. Market Data as of September 30, 2016, or the latest available date. ¹ Comparable peers represents banks located in OH, IN, IL, MI, WI, WV and PA with total assets between $1.0 billion and $2.0 billion. Stock Price Price / Tangible Book Value of 130
Slide 21: Commitment to Shareholders
Commitment to Shareholders Long-term Shareholder Value through Growth and Profitability
Slide 22: Strategic Focus & Growth Strategy
Strategic Focus & Growth Strategy Organic growth Capitalize on commercial and consumer lending opportunities Grow core deposit base in rural and targeted urban markets Identify and evaluate loan production opportunities in select metro markets Acquisition opportunities Rural Urban Asset quality Effi
Slide 23: Operating Results
CIVISTA Operating Results BANCSHARES, INC. ($s in thousands, except per share data) For the Years Ended December 31, 2012 2013 2044 Net interest Income $41,361 $40,578 $39,974 $41,866 $47,392 $49,862 Provision for Loan Losses 9,800 6,400 1,100 1,500 1,200 (1,300) Noninterest Income 9971 11,200 12,06
Slide 24: The Civista Story
The Civista Story Strong and Seasoned Management Team Leading Ohio Community Banking Franchise Proven and Disciplined Acquirer Attractively Valued Versus Peers Platform to Support Future Growth
Slide 25: Compelling Investment Opportunity
Compelling Investment Opportunity Trading at a discount to peers on a Price/Tangible Book Value basis and a substantial discount on a Price/LTM EPS basis. Superior asset quality Proven acquirer Peer leading NIM Low cost deposits – 16 BPs lower than peers High quality loan portfolio – 41 BPs higher t
Slide 26: Thank You
Thank You
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