m_and_a
confidence high
sentiment positive
materiality 0.75
Civista completes Farmers Savings Bank merger, adds $236M deposits and two branches
CIVISTA BANCSHARES, INC.
- Each Farmers share converted into $71,086.48 cash + 2,868.98 Civista shares; total cash ~$35.5M and ~1.43M shares issued.
- Merger adds two branches and ~$236M in low-cost deposits, expanding into Medina and Lorain Counties, Ohio.
- Pro forma combined organization: ~$4.4B assets, $3.2B net loans, $3.5B deposits as of Sept 30, 2025.
- System conversion scheduled for Q1 2026; customers will continue normal service until then.
- President/CEO Dennis Shaffer cites enhanced commercial lending and deeper Northeast Ohio relationships.