Sandusky, Ohio, February 15, 2017 /PRNewswire/– Civista Bancshares, Inc. (NASDAQ:CIVB) (“Civista”) the parent company of Civista Bank, today announced that it has commenced an underwritten public offering of approximately $30 million of its common shares. Civista also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares sold in the offering.
Keefe, Bruyette & Woods, a Stifel Company, and Sandler O’Neill + Partners, L.P. will serve as bookrunning managers and Boenning & Scattergood, Inc. and Hovde Group, LLC will serve as co-managers for the offering.
Civista intends to use the net proceeds from the offering, including any net proceeds from the underwriters’ exercise of their option, for general corporate purposes, including potential future acquisitions and to support organic growth.
Civista Bancshares, Inc. is a $1.4 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.