UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 1, 2019
Civista Bancshares, Inc.
(Exact name of Registrant as specified in its charter)
Ohio | 001-36192 | 34-1558688 | ||
(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
( IRS Employer Identification No.) |
100 East Water Street, P.O. Box 5016, Sandusky, Ohio 44870
(Address of principle executive offices)
Registrants telephone number, including area code: (419) 625-4121
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Common | CIVB | NASDAQ Capital Market | ||
Preferred | CIVBP | NASDAQ Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events
Civista Bancshares, Inc. is sending a letter to its shareholders along with the payment of a third quarter dividend of $0.11 per share. The letter discusses recent news and initiatives that are on the horizon for the company. A copy of the letter as mailed is attached hereto as Exhibit 99.1.
Civista Bancshares, Inc. is a $2.2 billion financial holding company headquartered in Sandusky, Ohio and may be accessed at www.civb.com. The Companys common shares are traded on the NASDAQ Capital Market under the symbol CIVB. The Companys 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.
Item 9.01 Financial Statements and Exhibits
(a) | Exhibit 99.1 Letter to Shareholders dated August 1, 2019 |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Civista Bancshares, Inc. (Registrant) | ||||||
Date: August 1, 2019 | /s/ Todd A. Michel | |||||
Todd A. Michel, | ||||||
Senior Vice President and Controller |
Exhibit 99.1
August 1, 2019
Dear Shareholder:
We are pleased to enclose (unless you have direct deposit) your August 1, 2019, dividend of $0.11 per common share. We have commented in the past on the exercise your management and board go through to balance retention of capital for growth and return to you, our shareholder, in dividends, but also return in increasing value. Our stock price as of June 30, 2019 was $22.45 compared to $17.42 on December 31, 2018. This is a 28.87% increase in value year to date.
Our second quarter 2019 earnings will be released on July 26, 2019 and earnings will be posted to our corporate website at CIVB.com.
We continue to invest in technology and our focus remains on growing the bank and on enhancing our overall customer experience. We are working on a number of product and service initiatives for 2019, aimed at providing greater convenience and security. A top priority for us is to continue to make it easy to do business with Civista Bank.
I am pleased to announce that we have hired Russell Edwards, Senior Vice President, Retail Banking. Russell has 28 years of banking and business development experience, having previously led retail teams at both community and regional banks. Russell succeeds Kristine Meinert, who is retiring from the Bank after nearly 43 years of service. I congratulate Kris on her retirement and welcome Russell to the Bank.
We value relationships and we seek to make a difference in the communities that we serve, for the benefit of all our customers, employees and shareholders. If you have questions, a call is always welcomed.
Sincerely, | ||||
James O. Miller Chairman of the Board |
Dennis G. Shaffer CEO and President |
Cautionary Statement Regarding Forward-Looking Information
Comments made in this letter include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to numerous assumptions, risks and uncertainties. Although management believes that the expectations reflected in the forward-looking statements are reasonable, actual results or future events could differ, possibly materially, from those anticipated in these forward-looking statements. The forward-looking statements speak only as of the date of this letter, and Civista Bancshares, Inc. assumes no duty to update any forward-looking statements to reflect events or circumstances after the date of this letter, except to the extent required by law.