Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Q4 2024 Earnings Presentation
38 slides from Civista Bancshares's earnings presentation, Mar 17, 2025
Slide 1: Investor Presentation Fourth Quarter 2024
Investor Presentation Fourth Quarter 2024 Dennis G. Shaffer - Chief Executive Officer & President Richard J. Dutton - Senior Vice President, Chief Operating 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: www.civb.com Dennis G Shaffer Chief Executive Officer & President dgshaffer@civista.bank Telephone: 888.645.4121 3
Slide 4: Who We Are
BANCSHARES, INC. Who We Are
Slide 5: Geographical Footprint
Geographical Footprint Bank founded and headquartered in 1884 in Sandusky, Ohio 10th Largest Publicly Traded Commercial Bank Headquartered in Ohio 527 Employees (519 FTE) Community Banking Focused Operations in 14 Ohio, 2 Indiana and 1 Kentucky Counties – 40 Branches & 2 Loan Production Offi
Slide 6: Financial Footprint
Financial Footprint Northwest Ohio Sandusky/Norwalk/Port Clinton, Ohio 6 Locations 9 Locations $211 million in loans $607 million in loans $182 million in $1,635 million in deposits deposits #1 deposit market share in Sandusky, ~14% deposit Ohio with ~65% market share Civista L
Slide 7: 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 $1.5 billion or 91% (85% of growth is organic) – Low-cost deposit franchise (136 bps total cost of deposits (excluding bro
Slide 8: Executive Team
CIVISTA BANCSHARES, INC. Dennis G. Shaffer Charles A. Parcher ) hard J. Dutton Chief Executive Officer Executive Vice President Y Senior Vice President and President Chief Lending Officer 4 Chief Operating Officer Senior Vice President Senior Vice President Senior Vice President Senior Vice Presiden
Slide 9: Community
CIVISTA BANCSHARES, INC. i 7 Ta ’ ‘OHIO STADIUM =o best. BUSINESS 2024 jemployers,, Ohio MULTI-YEAR WINNER 21 #2020 * 2019 is strongly ‘encouraged and supported with corporate donations, matching gifts and employee volunteerism. r © DiversityJobs = TOP DIVERSITY EMPLOYER Den Y LOT, Ww NKGsraccs ga g
Slide 10: Current Events
» CIVISTA BANCSHARES, INC. Current Events
Slide 11: Deposits
Deposits $3.21 billion in Total Deposits – Excluding brokered, Cost of deposits are 136 bps and deposits grew organically 9.9% during 2024 Civista Bank is 141 years old with a generational and relationship driven deposit core 85.3%* of deposits insured Excluding $467.7 million of public depo
Slide 12: Liquidity
Liquidity Cash and Securities are 23.4% of Total Deposits – All securities are held for sale Strong on-balance sheet liquidity – $499.3 million of cash and unpledged securities Ready access to off-balance sheet funding – Immediate access to $1.2 billion in funding from FHLB, Federal Reserve an
Slide 13: Credit
Credit Credit metrics remain stable and strong – ACL to loans was 1.29% – Strong ALLL of $39.7 million – Total nonperforming loans as percent of total loans is 1.06% – Net charge offs as percent of average loans is 0.01% Virtually no central business office exposure All Figures are as of Decembe
Slide 14: Capital
Capital Total shareholders’ equity of $391.6 million – Tier 1 risk-based capital ratio of 10.47% – Total risk-based capital ratio of 13.98% Civista continues to create capital through earnings “Well Capitalized” by regulatory standards Tangible Common Equity ratio of 6.43% All Figures are as
Slide 15: 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 16: Initiatives in Flight
Initiatives in Flight Low/Lower Cost Funding Revenue Improvement – Reduced average FHLB borrowings – Increased Fee Income approx. 45% in Q4 2024 • Treasury management fees 28.4% YoY ($388 million to $214 million) • Wealth management fees 15.8% YoY – Launch of Small business initiative – Ohio Hom
Slide 17: Financial Trends
» CIVISTA BANCSHARES, INC. Financial Trends
Slide 18: Financial Highlights
Financial Trends Financial Highlights ($s in thousands, except per share data) Dec 31 Dec 31 2024 2023 % Change Balance Sheet Assets $4,098,469 $3,861,418 6.14% Gross Loans (excluding HFS) 1 3,080,565 2,830,003 8.85% Deposits 3,211,870 2,958,028 8.58% Dec 31 Dec 31 2024 2023 % Change Performance Ana
Slide 19: Total Assets
Financial Trends Total Assets1 ($ in millions) 1. 2022 includes the addition of $316 million in assets due to Comunibanc Corp acquisition. 19
Slide 20: Total Gross Loans and Leases
Financial Trends Total Gross Loans and Leases1 ($ in millions) 1. 2020 includes $217.3 million of PPP loans. 2021 includes $43.2 million of PPP loans. 2022 includes $819 thousand of PPP loans as well as $169 million due to the Comunibanc 20 Corp acquisition.
Slide 21: Loan Mix
Financial Trends Loan Mix ($ in millions) Total Gross Loans: $3.1 billion 21
Slide 22: CRE Non-Owner Concentrations
Financial Trends CRE Non-Owner Concentrations ($ in millions) 22
Slide 23: CRE Non-Owner Office Details
Financial Trends CRE Non-Owner Office Details ($ in millions) Total: $199.9 million Office by Collateral Type Central Business District vs Suburban Healthcare Office, $20.6 , 10.3% Central Business District, $16.2 , 8.1% Office, $99.5 , 49.8% Mixed-use Office, $79.8 , 39.9% Suburban, $183.6 , 91.9%
Slide 24: Civista Leasing and Equipment Financing
Financial Trends Civista Leasing and Equipment Financing ($ in millions) 2024 YTD Production • YTD Funded: $108.3 million • Sold: $51.4 million • Net Production: $56.9 million Average Yield on Total Portfolio: 9.22% Average Yield on Q4 Originations: 9.63% Targeted Industries: Propane, Recycl
Slide 25: Loan NPAs and Loss Reserves
Financial Trends Loan NPAs Loss Reserves & 90+PD //Gross AssetsLoans Loan LossReserves Reserves/ /NPLs Gross Loans Nonaccrual & 90 days Past Due / Gross Loans Net Chargeoff Ratio1 1. LTM basis 25
Slide 26: Total Deposits
Financial Trends Total Deposits1 ($ in millions) 26 1. 2022 includes the addition of $271 million in deposits due to the Comunibanc Corp acquisition.
Slide 27: Deposit Mix
Financial Trends Deposit Mix ($ in millions) Total Deposits: $3.2 billion Loan/Deposit Ratio: 95.9% Cost of Cost of Year Deposits Funding 2019 0.48% 0.68% 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% 27
Slide 28: Net Interest Margin, Cost of Deposits, Loan Yield vs Peers
Financial Trends Net Interest Margin (%) Total Cost of Deposits (%) Yield on Loans (%) S&P Capital IQ Peer data as of 12/31/2024 or the latest available date. 28 Note: Comparable peers include public banks $2-$6B in total assets in Ohio and contiguous states.
Slide 29: Non-Interest Income and Expense
Financial Trends Non-Interest Income Gain on Sale of Loans and Leases – Gain on sale of mortgages, 2024 and 2023 was $2.4 million and $1.2 million, respectively – Gain on sale of leases, 2024 and 2023 was $2.1 million and $1.7 million, respectively Wealth Management – $5.5 million 2024 and $4.8
Slide 30: Capital Management
Financial Trends Capital Management November 2021 issued $75 million in 3.25% subordinated debt (becomes floating in Q4 2026) Authorized $13.5 million stock repurchase plan in April 2024 During 2024, no repurchases were made $200 million shelf offering completed in fourth quarter 2024 Incr
Slide 31: Why Civista?
» CIVISTA BANCSHARES, INC. Why Civista?
Slide 32: Experienced Acquirer
Experienced Acquirer Completed 6 acquisitions since 2007, including the acquisition of Comunibanc Corp, which closed July 2022 and acquisition of Vision Financial Group, which closed October 2022 In June 2022, opened de novo branch in Gahanna, Ohio, located in Franklin County (Columbus MSA) 32
Slide 33: 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 $1.3 billion in 2019 to $2.4 billion at year-end 2024. Growth of $1.2 billion or 91% (represents 84% of Civista’s total lo
Slide 34: 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 $1.5 billion or 91% (85% of growth is organic) – Low-cost deposit franchise (136 bps total cost of deposits (excluding bro
Slide 35: Additional Information
» CIVISTA BANCSHARES, INC. Additional Information
Slide 36: Operating Results
Operating Results ($s in thousands, except per share data) Full Year Operating Results 2019 2020 2021 2022 2023 2024 Net Interest Income $85,100 $89,727 $95,425 $110,204 $125,496 $116,711 Provision for Loan Losses 1,035 10,112 830 1,752 4,435 5,364 Noninterest Income 22,443 28,182 31,452 29,077 37,1
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation ($s in thousands, except per share data) As of and for the Years Ended December 31, 2019 2020 2021 2022 2023 2024 Tangible Common Equity Total Shareholder's Equity - GAAP $ 330,126 $ 350,108 $ 355,212 $ 334,835 $ 372,002 $ 388,502 Less: Goodwill and intangible assets 85,156 8
Slide 38: Thank You
Thank You 38