Civista Bancshares to acquire Farmers Savings Bank for ~$70.4M; launches $70M common stock offering

CIVISTA BANCSHARES, INC.

Acquires Farmers Savings Bank (Spencer, OH) for $34.9M cash + 1.43M CIVB shares; aggregate value ~$70.4M.
Offers 3.29M shares at $21.25 for gross $70M; net proceeds ~$65.5M for general corporate purposes.
Preliminary Q2 2025 guidance: net income $10.3M–$11.1M ($0.67–$0.72 EPS), NIM 3.63%–3.69%.
Deal expected ~10% EPS accretive once cost savings phased; TBV dilution earn-back ~3 years.
Adds ~$183M low-cost deposits, 2 branches in Medina/Lorain Counties; pro forma assets ~$4.4B.

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