Profile: Civista Bancshares Inc (CIVB.OQ)
12 Nov 2018
Civista Bancshares, Inc., incorporated on February 19, 1987, is a financial holding company. The Company, through the subsidiary bank, Civista Bank, is primarily engaged in the business of community banking. Civista Bank, located in Erie, Crawford, Champaign, Cuyahoga, Franklin, Logan, Madison, Montgomery, Summit, Huron, Ottawa and Richland Counties, Ohio, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. Its subsidiaries include First Citizens Insurance Agency, Inc., Water Street Properties, First Citizens Investments, Inc., FC Refund Solutions, Inc. (FCRS) and First Citizens Capital LLC.
The Company focuses its lending activities on real estate loans, both residential and commercial in nature. The Company's loan portfolio consists of commercial and agriculture, commercial real estate-owner occupied, commercial real estate non-owner occupied, residential real estate, real estate construction, consumer and other. The commercial loans are those made for commercial, industrial and professional purposes to individuals, sole proprietorships, partnerships, corporations and other business enterprises. Agricultural loans are for financing agricultural production, including all costs associated with growing crops or raising livestock. Real estate construction loans are for the construction of residential homes, new buildings or additions to existing buildings. These loans are secured by one- to four-family real estate or commercial real estate. The Company controls disbursements in connection with construction loans. Consumer loans are made to individuals for household, family and other personal expenditures. These expenditures include the purchase of vehicles or furniture, educational expenses, medical expenses, taxes or vacation expenses. The Company's total loans amount to approximately $10 billion.
The Company's securities are classified as available-for-sale (AFS) securities. The Company's investment portfolio includes the United States Treasury securities and obligations of the United States Government agencies, obligations of states and political subdivisions, and mortgage-backed securities in government sponsored entities. It also includes equity securities in financial institutions. The Company's total securities amount to approximately $196.24 million.
Sources of Funds
The Company's range of deposits includes non-interest-bearing demand deposits; interest-bearing demand deposits; savings account, including money market deposit accounts, and certificates of deposit, including individual retirement accounts (IRAs). Its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The Company's total deposits amount to approximately $1.1 billion.
Civista Bancshares Inc
100 E Water St,
PO Box 5016
SANDUSKY OH 44870-2524