#United States #Civista Bancshares #Sandusky #Farmers Savings Bank

Civista Bancshares and Farmers Savings Bank Announce Major Merger Update

In a significant development for the banking sector in Ohio, Civista Bancshares, Inc. (NASDAQ: CIVB) and The Farmers Savings Bank have announced that they have received all required regulatory approvals. This crucial step allows the previously announced merger between the two entities to move forward. The merger involves Farmers being integrated into Civista Bank, which is a wholly owned subsidiary of Civista. Dennis G. Shaffer, CEO of Civista, expressed his enthusiasm for the approval, stating, "We are pleased to have received regulatory clearance for this strategic partnership. This merger represents a meaningful opportunity to expand our presence in Ohio and deliver enhanced value to our customers and communities."

The merger will be subject to customary conditions and the applicable waiting period as dictated by federal banking law. The shareholders of Farmers will convene on November 4, 2025, to adopt and approve the merger agreement. Provided that all conditions are met, Civista and Farmers plan to finalize the transaction by November 2025, shortly after the shareholders' meeting.

Moreover, the system conversion, which is critical for merging operations, is expected to be completed in the first quarter of 2026, marking a new chapter for both banks as they consolidate their services. Civista Bank, based in Sandusky, Ohio, was established in 1884 and has evolved into a robust financial holding company, with $4.2 billion in assets and 42 locations throughout Ohio, Southeastern Indiana, and Northern Kentucky. Farmers Savings Bank, a smaller institution with $285 million in assets, operates two branches in Medina and Lorain Counties, serving the Northeast Ohio region.

Civista has positioned itself as a notable player in the bank sector, providing an extensive range of services, including full-service banking, commercial lending, mortgage options, and wealth management. With the merger, the combined organization will retain the Civista Bank brand and continue its focus on community-oriented banking, which has defined its operations for over a century.

Additionally, the merger presents several advantages to customers, such as improved service offerings and a broadened network of branches. Civista aims to enhance its customer service capabilities and expand its footprint in the local banking industry. However, the path to this merger has not been without challenges. As mentioned by Civista's management, there are inherent risks involved in the merger process, such as potential integration distractions and the need for thorough assessments of Farmers' liabilities.

Investors and shareholders are encouraged to stay informed about the merger's progress as Civista provides necessary documentation and updates regarding the process. Civista has filed a Registration Statement with the U.S. Securities and Exchange Commission, which includes a joint proxy statement and prospectus detailing the merger and its implications. This documentation is crucial for shareholders seeking to understand the merger’s ramifications and facilitate informed voting decisions.

In summary, the merger of Civista Bancshares and The Farmers Savings Bank marks a pivotal moment for both financial institutions and the communities they serve. With a shared commitment to customer service and regional growth, the newly unified bank is poised to drive further innovations and responsive banking solutions for its clientele. This merger not only expands Civista's reach but also enriches the local banking landscape, promising exciting developments in the years to come. Investors and stakeholders will undoubtedly be watching closely as the process unfolds in the upcoming months.