Civista Bancshares, Inc. · NASDAQ:CIVB
Civista Bancshares — Q2 2020 Earnings Presentation
27 slides from Civista Bancshares's earnings presentation, Sep 24, 2020
Slide 1: Investor Presentation Second Quarter 2020
Investor Presentation Second Quarter 2020 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: Corporate Overview
Corporate Overview Bank founded in 1884 9th Largest Publicly Traded Commercial Bank Headquartered in Ohio Community Banking Focused Operations in 12 Ohio, 2 Indiana and 1 Kentucky Counties 35 Branches & 2 Loan Production Offices Operations in the 5 largest Ohio MSAs Franchise Poised for Acquisitions
Slide 5: Experienced Management Team
Experienced Management Team Dennis G. Shaffer SVP & Chief Operating Officer 34 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
Slide 6: Branch Footprint
$380 million in loans $569 million in deposits 9 locations ~39% deposit market share in our markets Branch Footprint Source: S&P Global Market Intelligence, FDIC. Deposit market share information as of June 30, 2019. Sandusky / Norwalk / Port Clinton $452 million in loans $828 million in deposits 9
Slide 7: Investment Highlights
Investment Highlights Experienced management team with a deep bench Strong capital position Community bank franchise in growth markets with an established operating model Gather attractive low-cost deposits (37 bps total cost of deposits) Generate loans in select growing markets (operations in the 5
Slide 8: Financial Highlights
Financial Highlights Source: Company Management and SNL Financial. Non-GAAP reconciliation on page 24. Reported on an annualized basis.
Slide 9: Increasing Shareholder Value
Increasing Shareholder Value Source: Company management and SNL Financial. 1 LTM basis 2 Non-GAAP reconciliation on page 24 3 Page 26 shows 2018 ratios adjusted for merger related expenses Tangible Book Value per Share2 Diluted EPS3
Slide 10: Proven Acquirer & Attractive Organic Growth
Proven Acquirer & Attractive Organic Growth Source: Company Management and SNL Financial. Completed 8 acquisitions since the formation of the holding company in 1987, including the acquisition of United Community Bancorp, which closed September 14, 2018 Expanded commercial loan growth in Columbus, C
Slide 11: Deposit Mix
Source: Company Management and SNL Financial. 2020 Peer data as of 3/31/2020, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states. Deposit Mix Total Deposits: $2.1 billion 2020 Total Cost of Deposits: 0.37% 33% N
Slide 12: Loan Mix
Source: Company Management and SNL Financial. 2020 Peer data as of 3/31/2020, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states. Loan Mix Total Gross Loans: $2.0 billion 2020 Loan Yield: 4.71% Diversified Portf
Slide 13: Peer Leading FTE NIM
Peer Leading FTE NIM as of 3/31/2020 Source: SNL Financial. 2020 peer data as of 3/31/2020, or the latest available date. Note: Comparable peers include public banks $1-$4B in Ohio and +/- 40% CIVB’s asset size in contiguous states.
Slide 14: Fee Income / Operating Efficiencies
Fee Income / Operating Efficiencies Source: Company Management. 1Reported on an annualized basis 2Page 25 shows 2018 ratios adjusted for merger related expenses Efficiency Ratio2 Noninterest Income / Average Assets1 Fee income platform Service charges on deposit accounts were $2.4 million YTD 2020 a
Slide 15: Leveraging Technology
Leveraging Technology Enhance utilization of technology to leverage efficiency and improve internal and external customer experience Branch Anywhere OnBase E-Sign Digital Transformation (in process) Retail Commercial Tools to protect our systems and information FraudEYE Digital Guardian
Slide 16: Strong Asset Quality
Source: Company Management and SNL Financial. 1 LTM basis 2 Excluding PCI (purchased credit impaired loans). Strong Asset Quality 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 17: Profitability & Returns Analysis
Profitability & Returns Analysis Source:Company Management and SNL Financial. LTM basis Page 26 shows 2018 ratios adjusted for merger related expenses Diluted Earnings per Share2 ROAE2 ROAA2 Net Income Available to Common Shareholders2
Slide 18: Strong Capital Position
Strong Capital Position 1 TCE Non-GAAP reconciliation on page 24 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 UCB merger in September 2018 Successfully redeemed outstanding preferred
Slide 19: Operating Results
Source: Company Management and SNL Financial. Operating Results
Slide 20: Compelling Investment Opportunity
Compelling Investment Opportunity Strong capital position Strong credit culture and asset quality Proven acquirer Completed 8 acquisitions since the formation of the holding company in 1987, including the acquisition of United Community Bancorp, which closed on September 14, 2018 Peer leading NIM Ex
Slide 21: COVID-19 Programs
COVID-19 Programs Top Priorities: Focus on Customer’s Financial Needs and Health and Safety of Employees and Customers Assistance Programs SBA – Paycheck Protection Program Commercial Loan Payment Deferral Program Suspension of Foreclosure Program Consumer and Mortgage Payment Deferral Program Suspe
Slide 22: Civista COVID-19 Programs
> CIVISTA COVID-19 Programs BANCSHARES, INC. $257.6 Million Funds Secureg’ #CivistaCARES
Slide 23: COVID-19 Programs: Loan Modifications and Deferrals
Mortgage and Other Consumer deferrals totaled $16.6 million at June 30, 2020 and $14.1 million at September 11, 2020. 1 PPP loans for June 30, 2020 and September 11, 2020 totaled $257,567,970, and $259,096,870 respectively COVID-19 Programs Below is a summary of Commercial loans modified as a result
Slide 24: Non-GAAP Reconciliation
CIVISTA Non-GAAP Reconciliation BANCSHARES, INC. Tangible Common Equity and Tangible Assets ($s in thousands, except per share data) As of and for the Years Ended December 31, Tangible Common Equity Total Shareholder's Equity - GAAP $ 125,173 $ 137,616 $ 184461 $ 298898 $ 330,126|$ 336,613 Less: Pre
Slide 25: 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 ect of tax-exempt income 1,062 Adjusted net in
Slide 26: Non-GAAP Reconciliation
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 27: Thank You
Thank You