CIVB Civista Bancshares
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Pursuant to section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
May 21, 2021
Civista Bancshares, Inc.
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction of
incorporation or organization)
( IRS Employer
100 East Water Street, P.O. Box 5016, Sandusky, Ohio 44870
(Address of principle executive offices)
Registrant’s telephone number, including area code: (419) 625-4121
(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
Name of each exchange
on which registered
|Common||CIVB||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. ☐
On May 21, 2021, Civista Bancshares, Inc. (“Civista”) announced a series of tactical balance sheet transactions. Civista entered into an agreement to sell 7,361 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $1.8 million, prepaid a $50.0 million long-term Federal Home Loan Bank advance with a rate of 2.05% and a remaining maturity of approximately 8 years at a pre-tax loss of approximately $3.7 million and redeployed $100 million of excess cash into a mix of investments, yielding 1.50% with an average duration of 5.2 years. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Civista Bancshares, Inc. is a $3.1 billion financial holding company headquartered in Sandusky, Ohio and may be accessed at www.civb.com. The Company’s common shares are traded on the NASDAQ Capital Market under the symbol “CIVB”.
Financial Statements and Exhibits
|(d)||Exhibit 99.1 Press release announcing tactical balance sheets transactions dated May 21, 2021|
|104||Cover Page Interactive File-the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.|
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.
|Date: May 21, 2021|
/s/ Todd A. Michel
|Todd A. Michel,|
|Senior Vice President and Controller|