Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Q1 2021 Earnings Presentation
39 slides from Civista Bancshares's earnings presentation, May 5, 2021
Slide 1: Investor Presentation First Quarter 2021
Investor Presentation First Quarter 2021 Dennis G. Shaffer - President & Chief Executive Officer 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 such term in federal securities law. Forward-looking statements express management’s current expectations, forecasts of future events or long-term goals, and may be based upon beliefs, expectat
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 President & Chief Executive Officer 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 9th Largest Publicly Traded Commercial Bank Headquartered in Ohio 472 Employees Community Banking Focused Operations in 12 Ohio, 2 Indiana and 1 Kentucky Counties 35 Branches & 2 Loan Production Offices Operations in the 5 largest O
Slide 6: Who We Are: Markets and Deposit Share
Who We Are Deposit market share information as of June 30, 2020. Sandusky/Norwalk/Port Clinton, Ohio 9 Locations $510 million in loans $1,005 million in deposits #1 deposit market share in Sandusky, Ohio with ~51% market share Cleveland/Akron, Ohio 3 Locations $611 million in loans $155 million in d
Slide 7: Who We Are: Community Bank Franchise
Who We Are Community bank franchise in growth markets with an established operating model Gather attractive low-cost core deposits (19 bps total cost of deposits) Generate loans organically in select growing markets (operations in the 5 largest MSAs in Ohio) Strong capital position Disciplined under
Slide 8: Who We Are: Management Team
Who We Are Dennis G. Shaffer SVP & Chief Operating Officer 35 years of banking experience Joined in 2007 Richard J. Dutton SVP & Chief Lending Officer 32 years of banking experience Joined in 2016 Charles A. Parcher SVP & General Counsel 17 years of banking experience Joined in 2018 Lance A. Morriso
Slide 9: Focused on Our Communities
CIVISTA BANCSHARES, INC. et Focused on Our Communities »¢ CIVISTA. BANK BEST IN OHIO 2020, yen CIVISTA DCRSTAS| & a 2, Community | Banking Month Team Port Clinton » ¢ CWISTA 2013-2020
Slide 10: Current Initiatives
DK CIVISTA Current Initiatives
Slide 11: Current Initiatives: COVID-19 Loan Modifications
Current Initiatives During 2020, Civista modified a total of 813 loans totaling $431.1 million under the provisions of the CARES Act. Loans modified under COVID-19 Programs at March 31, 2021: COVID-19 Deferrals
Slide 12: Current Initiatives: SBA Paycheck Protection Program
Current Initiatives Originated $387.6 million in PPP loans 2,360 loans for $267.8 million in Round 1 with $9.9 million in fees 1,238 loans for $119.8 million in Round 2 with $5.7 million in fees Provided assistance to more than 3,500 businesses and their over 37,000 employees Average loan size ~$110
Slide 13: Current Initiatives: Leveraging Technology
Current Initiatives Enhance utilization of technology to improve efficiency and customer experience Curbside banking Workflow and electronic storage E-Sign Digital Transformation – rollout Q2 2021 Enhanced Treasury Management Services and Reporting Improved in-branch and online account opening and o
Slide 14: Civista Digital Banking
Current Initiatives Civista Digital Banking
Slide 15: Financial Trends
DK CIVISTA Financial Trends
Slide 16: Financial Trends
Financial Trends 1. March 31, 2021 includes $246.6 million of PPP loans . 2. Presented on an annualized basis 3. Non-GAAP reconciliation on page 36.
Slide 17: Financial Trends: Total Assets
Financial Trends Total Assets1 ($ in millions) 1. 2018 includes $578 million in assets due to UCB acquisition CAGR 20.6%
Slide 18: Financial Trends: Total Gross Loans
Financial Trends Total Gross Loans1 ($ in millions) 1. 2020 includes $217.3 million of PPP loans. 2021 includes $246.6 million of PPP Loans. 2018 includes $299 million in loans due to UCB acquisition. CAGR 17.0%
Slide 19: Financial Trends: Loan Mix
Financial Trends Total Gross Loans: $2.1 billion CRE to RBC Ratio: 315.8% Loan Mix
Slide 20: Financial Trends: Asset Quality and Reserves
1. LTM basis 2. Excluding PCI (purchased credit impaired loans). Financial Trends Reserves / NPLs NCOs / Average Loans Loan Loss Reserves / Gross Loans NPAs & 90+PD / Assets Loan Loss Reserves / Gross Loans Nonaccrual & 90 days Past Due2 / Gross Loans
Slide 21: Financial Trends: Total Deposits
Financial Trends Total Deposits1 ($ in millions) 1. 2018 includes $476 million in deposits due to UCB acquisition CAGR 20.5%
Slide 22: Financial Trends: Deposit Mix
1 including $246.6 million of PPP loans and $172.9 million of tax refund processing deposits Financial Trends Total Deposits: $2.5 billion Q1 2021 Loan/Deposit Ratio: 83.2%1 37% Noninterest Bearing Demand Deposits are 76% Commercial and 24% Retail Deposit Mix
Slide 23: Financial Trends: Peer Cost of Deposits and Loan Yield
2021 Peer data as of 3/31/2021 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 24: Financial Trends: Net Interest Margin vs Peers
Financial Trends 2021 peer data as of 3/31/2021, 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 25: Financial Trends: Non-Interest Income and Expense
Financial Trends 1Page 37 shows 2018 ratios adjusted for merger related expenses Fee income platform Service charges on deposit accounts were $1.3 million Q1 2021 and $1.5 million Q1 2020 Mortgage Banking Gain on sale of loans, primarily mortgage loans, Q1 2021 and 2020 was $2.7 million $827 thousan
Slide 26: Financial Trends: Capital Management
Financial Trends 1. TCE Non-GAAP reconciliation on page 25 2. LTM basis 3. Page 35 shows 2018 ratios adjusted for merger related expenses Successfully raised $32.8 million of capital (issued 1,610,000 shares) in February 2017 Additional $104.7 million of capital (issued 4,277,430 shares) related to
Slide 27: Providing Shareholder Value
Providing Shareholder Value 27
Slide 28: Net Income & Earnings Per Share
1. LTM basis 2. Page 27 shows 2018 ratios adjusted for merger related expenses Providing Shareholder Value Net Income & Earnings Per Share (Available to Common) ($ in millions)
Slide 29: Total Shareholders' Equity & Return on Tangible Equity
1. LTM basis Providing Shareholder Value Total Shareholders’ Equity & Return on Tangible Equity ($ in millions)
Slide 30: Tangible Book Value per Share
Providing Shareholder Value 1Non-GAAP reconciliation on page 36 Tangible Book Value per Share1 CAGR 11.1%
Slide 31: Why Civista?
> CIVISTA BANCSHARES, INC. Why Civista?
Slide 32: Why Civista? Experienced Acquirer & Organic Growth Model
Why Civista? Completed 3 acquisitions since 2007, including the acquisition of United Community Bancorp, which closed September 14, 2018 Expanded commercial loan growth in Columbus, Cleveland, Akron, Dayton and Cincinnati markets Since year-end 2015, loan portfolios in these markets have increased f
Slide 33: Why Civista? Compelling Investment Opportunity
Why Civista? Community bank franchise poised for acquisitions and strong core deposit franchise Strong capital position Strong credit culture and asset quality Experienced acquirer Completed 3 acquisitions since 2007, including the acquisition of United Community Bancorp, which closed September 14,
Slide 34: Additional Information
> CIVISTA BANCSHARES, INC. Additional Information
Slide 35: Operating Results
CIVISTA Operating Results BANCSHARES, INC. (Ss in thousands, except per share data) 20162017, — 2018 20192020 Net interest Income. $50,259 $54,502 $66,107 $85,100 $89,727 $91,440 Provision for Loan Losses (1,300) ° 780 1,035 10,112 8,816 Noninterest Income 16,132 16,334 18,131 22,443 28,182 30,496 N
Slide 36: Non-GAAP Reconciliation
CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. (Ss in thousands, except per share data) As of and for the Years Ended December 31, Tangible Common Equity Total Shareholder’s Equity - GAAP $ 137,616 $ 184,461 $ 298,898 $ 330,126 $ 350,108]$ 350,058 Less: Preferred Equity 18,950 17,358 9,364 - - 7 L
Slide 37: Non-GAAP Reconciliation: Adjusted Efficiency Ratio
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 ect of tax-exempt income 1,062 Adjusted net in
Slide 38: Non-GAAP Reconciliation: 2018 Adjusted Results
CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. (Ss in thousands, except per share data) Actual Merger and Adjusted one-time items 2018 Net Interest Income $66,107 $0 $66,107 Provision for Loan Losses 780 ° 780 Noninterest Income 18,131 413 18,544 Noninterest Expense 66,679 (12,735) 53,944 Net inco
Slide 39: Thank You
Thank You