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Civista Bancshares, Inc. Announces Third Quarter 2017 Earnings

SANDUSKY, Ohio, Oct. 27, 2017 /PRNewswire/ -- Civista Bancshares, Inc. (NASDAQ:CIVB) ("Civista") reported net income available to common shareholders of $3.4 million, or $0.29 per diluted share, for the third quarter of 2017, compared with $3.3 million, or $0.34 per diluted share, for the prior year period. For the nine-month period ended September 30, 2017, Civista reported net income available to common shareholders of $11.0 million or $0.97 per diluted share, compared to $12.4 million, or $1.24 per diluted share, in the same period of 2016. The 2016 results for nine-month period were impacted by a large loan recovery that resulted in a credit provision of $1.3 million and a recovery of interest income of approximately $919 thousand. These two items were approximately $1.5 million after taxes. In addition, we issued approximately 1.6 million new shares in February 2017 related to raising $32.8 million of additional capital, net of costs.

"During 2017 we have invested in a loan production office in Westlake and additional lenders in our more vibrant markets. While those investments have a cost, they have proven to be successful at increasing our loans. Our loan growth has been at an 11% annualized rate through the first nine-months of the year. Additionally, our net income for the first nine-months of 2017 is comparable to 2016 when we remove the impact of the 2016 loan recovery" said James O. Miller, Chairman, President and CEO of Civista.

Results of Operations:

Net interest income for the third quarter of 2017 increased $1.2 million, or 9.2% compared to the same period of 2016 and for the nine months ended September 30 increased $2.2 million, or 5.9%, when compared to the same period of 2016. For both periods, an increase in average loans outstanding primarily contributed to the increase in interest income slightly offset by a decrease in loan yield for the nine-month period. The net interest income for the nine-month period in 2016 included approximately $919 thousand of recovered interest income on a previous non-accrual loan which resulted in approximately 9 basis points of additional net interest margin. Tax equivalent net interest margin was 4.08% for the third quarter, compared to 4.06% for the same period a year ago and was 3.93% for the nine months ended September 30, 2017, compared to 3.89% for the same period a year ago.

Average Balance Analysis

(Unaudited - Dollars in thousands except share data)










Three Months Ended September 30,


2017


2016


Average


Yield/


Average


Yield/

Assets:

balance

Interest

rate *


balance

Interest

rate *

Interest-earning assets:








Loans

$ 1,122,131

$ 13,022

4.60%


$ 1,042,721

$ 11,824

4.51%

Taxable securities

150,534

977

2.61%


138,092

872

2.56%

Non-taxable securities

93,022

812

5.44%


77,378

664

5.56%

Interest-bearing deposits in other banks

11,450

25

0.87%


12,878

10

0.31%

Total interest-earning assets

$ 1,377,137

14,836

4.41%


$ 1,271,069

13,370

4.32%

Noninterest-earning assets:








Cash and due from financial institutions

24,652




24,591



Premises and equipment, net

18,000




16,975



Accrued interest receivable

4,460




4,134



Intangible assets

28,541




29,136



Other assets

10,352




10,196



Bank owned life insurance

24,889




24,308



Less allowance for loan losses

(12,988)




(14,424)



Total Assets

$ 1,475,043




$ 1,365,985











Liabilities and Shareholders Equity:








Interest-bearing liabilities:








Demand and savings

$ 594,088

$ 160

0.11%


$ 574,322

$ 118

0.08%

Time

194,364

447

0.91%


207,947

388

0.74%

FHLB

85,840

276

1.28%


35,673

111

1.24%

Federal funds purchased

462

2

1.72%


462

1

0.86%

Subordinated debentures

29,427

268

3.61%


29,427

221

2.99%

Repurchase Agreements

14,328

3

0.08%


18,827

5

0.11%

Total interest-bearing liabilities

$ 918,509

1,156

0.50%


$ 866,658

844

0.39%

Noninterest-bearing deposits

363,783




347,912



Other liabilities

12,826




14,678



Shareholders' Equity

179,925




136,737



Total Liabilities and Shareholders' Equity

$ 1,475,043




$ 1,365,985











Net interest income and interest rate spread

$ 13,680

3.91%



$ 12,526

3.93%









Net interest margin



4.08%




4.06%









* - All yields and costs are presented on an annualized basis






Average Balance Analysis

(Unaudited - Dollars in thousands except share data)










Nine Months Ended September 30,


2017


2016


Average


Yield/


Average


Yield/

Assets:

balance

Interest

rate *


balance

Interest

rate *

Interest-earning assets:








Loans

$ 1,094,401

$ 37,211

4.55%


$ 1,019,793

$ 35,311

4.63%

Taxable securities

144,379

2,764

2.59%


138,374

2,494

2.45%

Non-taxable securities

86,713

2,307

5.56%


75,806

1,979

5.64%

Interest-bearing deposits in other banks

78,576

473

0.80%


103,336

376

0.49%

Total interest-earning assets

$ 1,404,069

42,755

4.20%


$ 1,337,309

40,160

4.14%

Noninterest-earning assets:








Cash and due from financial institutions

53,487




58,864



Premises and equipment, net

18,084




16,860



Accrued interest receivable

4,446




4,262



Intangible assets

28,682




29,289



Other assets

10,164




9,986



Bank owned life insurance

24,747




23,111



Less allowance for loan losses

(13,156)




(14,516)



Total Assets

$ 1,530,523




$ 1,465,165











Liabilities and Shareholders Equity:








Interest-bearing liabilities:








Demand and savings

$ 582,716

$ 413

0.09%


$ 564,743

$ 345

0.08%

Time

181,931

1,087

0.80%


206,620

1,135

0.73%

FHLB

57,195

534

1.25%


30,933

312

1.35%

Federal funds purchased

156

2

1.71%


155

1

0.86%

Subordinated debentures

29,427

766

3.48%


29,427

650

2.95%

Repurchase Agreements

18,597

14

0.10%


21,015

16

0.10%

Total interest-bearing liabilities

$ 870,022

2,816

0.43%


$ 852,893

2,459

0.39%

Noninterest-bearing deposits

478,137




460,051



Other liabilities

12,881




20,211



Shareholders' Equity

169,483




132,010



Total Liabilities and Shareholders' Equity

$ 1,530,523




$ 1,465,165











Net interest income and interest rate spread

$ 39,939

3.77%



$ 37,701

3.75%









Net interest margin



3.93%




3.89%









* - All yields and costs are presented on an annualized basis






No provision for loan losses was made during 2017. No provision for loan losses was made for the third quarter of 2016, but a credit provision of $1.3 million was recorded for the nine months ended September 30, 2016 due to a large loan recovery.

During the quarter, noninterest income totaled $3.5 million, a decrease of $188 thousand, compared to the prior year's third quarter. Year-to-date noninterest income totaled $12.7 million, a decrease of $285 thousand, or 2.2%, compared to the prior year's first nine months.

Noninterest income








(dollars in thousands)

Three months ended
September 30,


Nine months ended
September 30,


2017


2016


2017


2016

Service charges

$ 1,177


$ 1,194


$ 3,609


$ 3,714

Net gain on sale of securities

(9)


18


(9)


20

Net gain on sale of loans

472


541


1,207


1,341

ATM fees

567


541


1,643


1,584

Wealth management fees

787


688


2,233


1,989

Bank owned life insurance

142


149


429


415

Tax refund processing fees

-


-


2,750


2,750

Other

329


522


842


1,176

Total noninterest income

$ 3,465


$ 3,653


$ 12,704


$ 12,989

Service charge income decreased $17 thousand, or 1.4% and $105 thousand, or 2.8%, for the three and nine-month periods ended September 30, 2017 compared to 2016. The decreases were primarily due to an increase in the business account earnings credit. Overdraft charges were also down, related to consumer account activity. Gain on sale of loans decreased $69 thousand, or 12.8%, and $134 thousand, or 10.0% for the three and nine-month periods ended September 30, 2017 compared to 2016. The nine-month period ended September 30, 2016 included a gain associated with the sale of some Commercial loans which totaled $77 thousand. Wealth management fees increased $99 thousand and $244 thousand for the three-month and nine-month periods ended September 30, 2017 due to increased assets under management as well as market conditions. Assets under management have increased $11.6 million since the end of the second quarter 2017 and $39.3 million since the end of the third quarter 2016. Other income decreased $193 and $334 for the three and nine-month periods ended September 30, 2017 compared to 2016, primarily due to decreases in both swap related income and gain/loss on sale of OREO properties.

During the quarter, noninterest expense totaled $12.2 million, an increase of $972 thousand, or 8.7%, compared to the prior year's third quarter. Year-to-date noninterest expense increased $3.1 million, or 9.2%, when compared to the nine months of 2016.

Noninterest expense








(dollars in thousands)

Three months ended
September 30,


Nine months ended
September 30,


2017


2016


2017


2016

Salaries, Wages and benefits

$ 7,389


$ 6,375


$ 21,684


$ 19,053

Net occupancy and equipment

1,040


1,202


3,099


3,167

Contracted data processing

357


397


1,174


1,147

Taxes and assessments

370


417


1,181


1,306

Professional services

534


431


1,718


1,450

Amortization of intangible assets

158


172


483


527

Marketing

240


249


768


810

Other

2,079


1,952


6,110


5,693

Total noninterest expense

$ 12,167


$ 11,195


$ 36,217


$ 33,153

Salaries, wages and benefits expense increased $1.0 million for the third quarter and $2.6 million for the nine-month period ending September 30, 2017. The increases in salaries, wages and benefits expense for both periods were due to an increase in employees, normal merit raises, as well as increases in incentive expense, insurance costs and pension expense. Full time equivalent employees have increased from 333 in 2016 to 347 in 2017. The pension expense increase of $200 thousand for the quarter and $481 thousand year-to-date is due to an expected pension curtailment anticipated upon the retirement of some senior executives. ATM expenses, included in other expense, increased $50 thousand for the third quarter and $321 thousand for the nine-month period ending September 30, 2017. The year-to-date expense is up, primarily due to vendor credits that expired in the second quarter of 2016. Additionally, both periods are up due to expenses incurred related to the Company's debit card program conversion. Professional services costs increased $103 thousand for the third quarter and $268 thousand for the nine-month period ending September 30, 2017. The increase for both periods was primarily attributable to the Company retaining professional services to analyze its workflow systems and recommend process improvements.

The efficiency ratio was 67.3% for the nine months ended September 30, 2017 compared to 64.1% for the nine months ended September 30, 2016. The increase in the efficiency ratio is due primarily to the increase in noninterest expense, partially offset by an increase in net interest income. The recovery of interest income in 2016 accounted for 120 basis points of the change.

Balance Sheet

Total assets increased $118.8 million, or 8.6%, from December 31, 2016 to September 30, 2017, primarily due to an increase in the loan portfolio of $86.5 million and an increase in investment securities of $33.6 million.

The $86.5 million, or 8.2%, increase in the loan portfolio from December 31, 2016 to September 30, 2017 continues to come from growth in our Commercial and Agriculture, Commercial Real Estate and Residential Real Estate loan portfolios. Real Estate Construction loans also increased this quarter.

End of period loan balances








(dollars in thousands)









September 30,


December 31,






2017


2016


$ Change


% Change

Commercial and Agriculture

$ 147,537


$ 135,462


$ 12,075


8.9%

Commercial Real Estate:








Owner Occupied

167,678


161,364


6,314


3.9%

Non-owner Occupied

424,430


395,931


28,499


7.2%

Residential Real Estate

267,839


247,308


20,531


8.3%

Real Estate Construction

77,978


56,293


21,685


38.5%

Farm Real Estate

38,966


41,170


(2,204)


-5.4%

Consumer and Other

17,564


17,978


(414)


-2.3%

Total Loans

$ 1,141,992


$ 1,055,506


$ 86,486


8.2%









Total deposits increased $80.2 million, or 7.2%, from December 31, 2016 to September 30, 2017. The increase was due primarily to $37.5 million brokered time deposits and $30.0 million brokered money market accounts. Brokered deposits are used to fund loan growth.

End of period deposit balances









(dollars in thousands)










September 30,


December 31,







2017


2016


$ Change


% Change


Noninterest-bearing demand

$ 357,539


$ 345,588


$ 11,951


3.5%


Interest-bearing demand

188,570


183,759


4,811


2.6%


Savings and money market

401,152


384,330


16,822


4.4%


Time deposits

254,028


207,426


46,602


22.5%


Total Deposits

$ 1,201,289


$ 1,121,103


$ 80,186


7.2%











Federal Home Loan Bank advances increased $8.3 million or 17.0% from December 31, 2016 to September 30, 2017, primarily to fund loan growth.

Total shareholders' equity increased $44.4 million, or 32.2%, from December 31, 2016 to September 30, 2017, primarily due to approximately $32.8 million of additional common equity raised in February. Retained earnings also increased by $9.2 million.

Asset Quality

The Company recorded net charge-offs of $359 thousand for the nine months of 2017 compared to net recoveries of $390 thousand for the same period of 2016.

Allowance for Loan Losses





(dollars in thousands)






September 30,


September 30,



2017


2016


Beginning of period

$ 13,305


$ 14,361


Charge-offs

(797)


(1,539)


Recoveries

438


1,929


Provision

-


(1,300)


End of period

$ 12,946


$ 13,451







Non-performing assets at September 30, 2017 were $11.0 million, a 5.8% decrease from December 31, 2016.

Non-performing Assets




(dollars in thousands)

September 30,


December 31,


2017


2016

Non-accrual loans

$ 8,063


$ 7,518

Restructured loans

2,958


4,180

Total non-performing loans

11,021


11,698

Other Real Estate Owned

27


37

Total non-performing assets

$ 11,048


$ 11,735





Mr. Miller continued, "Our performance this quarter was solid and asset quality numbers have remained steady at pre-recession levels. While our expenses have ticked up during the year, we believe the additional expense is warranted to generate present and future loan growth. We feel we are poised for growth organically and through acquisitions. We announced earlier in the month that our CRA rating has been upgraded and we can begin to execute on our plan for acquisitions."

Civista Bancshares, Inc. is a $1.5 billion financial holding company headquartered in Sandusky, Ohio. The Company's banking subsidiary, Civista Bank, operates 29 locations in Northern, Mid-Central and Southwestern Ohio.

Civista Bancshares, Inc. may be accessed at www.civb.com. The Company's common shares are traded on the NASDAQ Capital Market under the symbol "CIVB". The Company's depositary shares, each representing a 1/40th ownership interest in a Series B Preferred Share, are traded on the NASDAQ Capital Market under the symbol "CIVBP".

This press release may contain forward-looking statements regarding the financial performance, business prospects, growth and operating strategies of Civista. For these statements, Civista claims the protections of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Statements in this press release should be considered in conjunction with the other information available about Civista, including the information in the filings we make with the Securities and Exchange Commission. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management's expectations and are subject to a number of risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as "anticipate," "estimate," "project," "intend," "plan," "believe," "will" and similar expressions in connection with any discussion of future operating or financial performance. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include risk factors relating to the banking industry and the other factors detailed from time to time in Civista' reports filed with the Securities and Exchange Commission, including those described in "Item 1A Risk Factors" of Part I of Civista's Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Civista does not undertake, and specifically disclaims any obligation, to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.


Civista Bancshares, Inc.

Financial Highlights

(dollars in thousands, except share amounts)


Consolidated Condensed Statement of Income










Three Months Ended


Nine Months Ended


September 30,


September 30,


(unaudited)


(unaudited)


2017


2016


2017


2016









Interest income

14,836


13,370


42,755


40,160

Interest expense

1,156


844


2,816


2,459

Net interest income

13,680


12,526


39,939


37,701

Provision for loan losses

-


-


-


(1,300)

Net interest income after provision

13,680


12,526


39,939


39,001

Noninterest income

3,465


3,653


12,704


12,989

Noninterest expense

12,167


11,195


36,217


33,153

Income before taxes

4,978


4,984


16,426


18,837

Income tax expense

1,318


1,304


4,534


5,251

Net income

3,660


3,680


11,892


13,586

Preferred stock dividends

308


374


935


1,156

Net income available








to common shareholders

3,352


3,306


10,957


12,430









Dividends per common share

$ 0.06


$ 0.06


$ 0.18


$ 0.16









Earnings per common share,








basic

$ 0.33


$ 0.41


$ 1.12


$ 1.57

diluted

$ 0.29


$ 0.34


$ 0.97


$ 1.24









Average shares outstanding,








basic

10,170,734


8,042,422


9,815,118


7,922,210

diluted

12,597,299


10,965,031


12,270,126


10,946,923









Selected financial ratios:








Return on average assets

0.98%


1.07%


1.04%


1.24%

Return on average equity

8.07%


10.71%


9.38%


13.75%

Dividend payout ratio

16.67%


13.11%


14.86%


9.33%

Net interest margin (tax equivalent)

4.08%


4.06%


3.93%


3.89%









Selected Balance Sheet Items






September 30,


December 31,


2017


2016






(unaudited)


(unaudited)

Cash and due from financial institutions

$ 33,394


$ 36,695

Investment securities

229,419


195,864

Loans held for sale

4,662


2,268

Loans

1,141,992


1,055,506

Less allowance for loan losses

12,946


13,305

Net loans

1,129,046


1,042,201

Other securities

14,247


14,055

Fixed assets

17,688


17,920

Goodwill and other intangibles

28,455


28,879

Bank owned life insurance

24,981


24,552

Other assets

14,196


14,829

Total assets

$ 1,496,088


$ 1,377,263





Total deposits

$ 1,201,289


$ 1,121,103

Federal Home Loan Bank advances

56,750


48,500

Securities sold under agreements to repurchase

15,148


28,925

Subordinated debentures

29,427


29,427

Accrued expenses and other liabilities

11,493


11,692

Total shareholders' equity

181,981


137,616

Total liabilities and shareholders' equity

$ 1,496,088


$ 1,377,263





Shares outstanding at period end

10,170,935


8,343,509





Book value per share

$ 16.17


$ 14.22

Equity to asset ratio

12.16%


9.99%





Selected asset quality ratios:




Allowance for loan losses to total loans

1.13%


1.26%

Non-performing assets to total assets

0.74%


0.85%

Allowance for loan losses to non-performing loans

117.47%


113.74%





Non-performing asset analysis




Nonaccrual loans

$ 8,063


$ 7,518

Troubled debt restructurings

2,958


4,180

Other real estate owned

27


37

Total

$ 11,048


$ 11,735

Supplemental Financial Information

(Unaudited - Dollars in thousands except share data)












September 30,


June 30,


March 31,


December 31,


September 30,

End of Period Balances

2017


2017


2017


2016


2016











Assets










Cash and due from banks

$ 33,394


$ 39,515


$ 182,446


$ 36,695


$ 33,229

Securities available for sale

229,419


230,197


223,245


195,864


200,967

Loans held for sale

4,662


4,728


1,740


2,268


2,827

Loans

1,141,992


1,100,817


1,075,240


1,055,506


1,046,967

Allowance for loan losses

(12,946)


(13,047)


(13,300)


(13,305)


(13,451)

Net Loans

1,129,046


1,087,770


1,061,940


1,042,201


1,033,516

Other securities

14,247


14,225


14,072


14,055


13,926

Fixed assets

17,688


17,777


17,952


17,920


17,340

Goodwill and other intangibles

28,455


28,589


28,727


28,879


29,038

Bank owned life insurance

24,981


24,839


24,696


24,552


24,404

Other assets

14,196


14,375


14,197


14,829


17,033

Total Assets

$ 1,496,088


$ 1,462,015


$ 1,569,015


$ 1,377,263


$ 1,372,280











Liabilities










Total deposits

$ 1,201,289


$ 1,164,888


$ 1,311,453


$ 1,121,103


$ 1,134,153

Federal Home Loan Bank advances

56,750


63,300


15,000


48,500


35,000

Securities sold under agreement to repurchase

15,148


12,730


23,674


28,925


21,713

Subordinated debentures

29,427


29,427


29,427


29,427


29,427

Accrued expenses and other liabilities

11,493


12,827


14,724


11,692


13,678

Total liabilities

1,314,107


1,283,172


1,394,278


1,239,647


1,233,971











Shareholders' Equity










Preferred shares, Series B

17,557


17,568


17,708


18,950


19,776

Common stock

153,562


153,495


153,167


118,975


118,126

Accumulated earnings

28,494


25,751


23,073


19,263


16,471

Treasury stock

(17,235)


(17,235)


(17,235)


(17,235)


(17,235)

Accumulated other comprehensive income (loss)

(397)


(736)


(1,976)


(2,337)


1,171

Total shareholders' equity

181,981


178,843


174,737


137,616


138,309











Total Liabilities and Shareholders' Equity

$ 1,496,088


$ 1,462,015


$ 1,569,015


$ 1,377,263


$ 1,372,280











Quarterly Average Balances










Assets:










Earning assets

$ 1,377,137


$ 1,368,387


$ 1,467,678


$ 1,274,928


$ 1,271,069

Securities

243,556


238,400


210,962


211,458


215,470

Loans

1,122,131


1,092,574


1,067,903


1,044,121


1,042,721

Liabilities and Shareholders' Equity










Total deposits

$ 1,152,235


$ 1,186,640


$ 1,392,109


$ 1,147,351


$ 1,130,181

Interest-bearing deposits

788,452


737,470


767,794


788,549


782,269

Interest-bearing liabilities

130,057


104,084


81,448


73,012


84,389

Total shareholders' equity

179,925


176,285


151,928


137,717


136,737

Supplemental Financial Information

(Unaudited - Dollars in thousands except share data)












Three Months Ended


September 30,


June 30,


March 31,


December 31,


September 30,

Income statement

2017


2017


2017


2016


2016











Total interest income

$ 14,836


$ 14,228


$ 13,692


$ 13,407


$ 13,370

Total interest expense

1,156


861


800


849


844

Net interest income

13,680


13,367


12,892


12,558


12,526

Provision for loan losses

-


-


-


-


-

Noninterest income

3,465


4,101


5,138


3,143


3,653

Noninterest expense

12,167


12,549


11,502


10,702


11,195

Income before taxes

4,978


4,919


6,528


4,999


4,984

Income tax expense

1,318


1,323


1,893


1,368


1,304

Net income

3,660


3,596


4,635


3,631


3,680

Preferred stock dividends

308


308


319


345


374

Net income available to common shareholders

$ 3,352


$ 3,288


$ 4,316


$ 3,286


$ 3,306











Common shares dividend paid

$ 610


$ 609


$ 507


$ 495


$ 474











Per share data




















Basic net income per common share

$ 0.33


$ 0.32


$ 0.47


$ 0.40


$ 0.41

Diluted net income per common share

0.29


0.29


0.40


0.33


0.34

Dividends per common share

0.06


0.06


0.06


0.06


0.06

Average common shares outstanding - basic

10,170,734


10,162,527


9,100,329


8,273,167


8,042,422

Average common shares outstanding - diluted

12,597,299


12,593,876


11,608,333


10,963,109


10,965,031











Asset quality










Allowance for loan losses, beginning of period

$ 13,047


$ 13,300


$ 13,305


$ 13,451


$ 14,547

Charge-offs

(309)


(357)


(131)


(287)


(1,183)

Recoveries

208


104


126


141


87

Provision

-


-


-


-


-

Allowance for loan losses, end of period

$ 12,946


$ 13,047


$ 13,300


$ 13,305


$ 13,451











Ratios










Allowance to total loans

1.13%


1.19%


1.24%


1.26%


1.28%

Allowance to nonperforming assets

117.19%


120.25%


113.48%


113.38%


102.71%

Allowance to nonperforming loans

117.47%


120.54%


114.34%


113.74%


103.21%











Nonperforming assets










Nonperforming loans

$ 11,021


$ 10,823


$ 11,632


$ 11,698


$ 13,033

Other real estate owned

27


27


17


37


62

Total nonperforming assets

$ 11,048


$ 10,850


$ 11,649


$ 11,735


$ 13,095











Capital and liquidity










Tier 1 leverage ratio

12.74%


12.50%


11.08%


10.55%


10.38%

Tier 1 risk-based capital ratio

15.54%


15.87%


15.93%


12.98%


12.84%

Total risk-based capital ratio

16.63%


17.01%


17.12%


14.20%


14.08%

Tangible common equity ratio

9.31%


9.30%


8.37%


6.70%


6.71%











View original content:http://www.prnewswire.com/news-releases/civista-bancshares-inc-announces-third-quarter-2017-earnings-300544766.html

SOURCE Civista Bancshares, Inc.