<SEC-DOCUMENT>0001193125-15-272965.txt : 20150731
<SEC-HEADER>0001193125-15-272965.hdr.sgml : 20150731
<ACCEPTANCE-DATETIME>20150731161903
ACCESSION NUMBER:		0001193125-15-272965
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20150731
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150731
DATE AS OF CHANGE:		20150731

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CIVISTA BANCSHARES, INC.
		CENTRAL INDEX KEY:			0000944745
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				341558688
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36192
		FILM NUMBER:		151019584

	BUSINESS ADDRESS:	
		STREET 1:		100 EAST WATER ST
		STREET 2:		P O BOX 5016
		CITY:			SANDUSKY
		STATE:			OH
		ZIP:			44870
		BUSINESS PHONE:		4196254121

	MAIL ADDRESS:	
		STREET 1:		100 EAST WATER ST
		STREET 2:		P O BOX 5016
		CITY:			SANDUSKY
		STATE:			OH
		ZIP:			44870

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CITIZENS BANC CORP /OH
		DATE OF NAME CHANGE:	19950502
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d62177d8k.htm
<DESCRIPTION>FORM 8-K
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant
to section 13 or 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of The Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>July&nbsp;31, 2015 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B><U>Civista
Bancshares, Inc.</U> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of Registrant as specified in its charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B><U>Ohio</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><U>001-36192</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><U>34-1558688</U></B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation or organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>100 East Water Street, P.O. Box 5016, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sandusky, Ohio
44870&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principle executive
offices) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (419)&nbsp;625-4121 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>N/A</U> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former name
or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Civista Bancshares, Inc. is sending a letter to its shareholders regarding the payment of
a third quarter dividend of $0.05 per share. The letter discusses a number of issues that have had an impact on, and are expected to continue to impact, the Company. A copy of the letter as mailed is attached hereto as Exhibit&nbsp;99.1. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Civista Bancshares, Inc. is a $1.3 billion financial holding company headquartered in Sandusky, Ohio and may be accessed at <U>www.civb.com</U>. The
Company&#146;s common shares are traded on the NASDAQ Capital Market under the symbol &#147;CIVB&#148;. The Company&#146;s depositary shares, each representing a 1/40<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> ownership interest in a
Series B Preferred Share, are traded on the NASDAQ Capital Market under the symbol &#147;CIVBP&#148;. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits </B></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">Exhibit 99.1 Letter to Shareholders dated August&nbsp;1, 2015 </TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SIGNATURE </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">Civista Bancshares, Inc.</P></TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3">(Registrant)</TD></TR>
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<TD VALIGN="top">Date: July&nbsp;31, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Todd A. Michel</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-size:10pt">Todd A. Michel,</FONT></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top" COLSPAN="3">Senior Vice President and Controller</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;August&nbsp;1, 2015 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Shareholder: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Enclosed (unless you have direct deposit) is your $.05 per share dividend for August&nbsp;1, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The year is now more than half over. We have completed the integration of TCNB Dayton, and our rebranding to Civista has gone exceedingly well. 2015 is
shaping up as a good year for the Company. Preliminary earnings for the first half of 2015 were $5,497,000 or $.58 per share diluted available to common shareholders. This compares to $3,890,000 or $.43 per share diluted available to common
shareholders for the first half of 2014, an increase of 41.3%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We continue to enjoy solid loan growth and recently we passed the $1,000,000,000 mark in
total loans. Our continued focus has been attracting and retaining customers to grow the company. If you attended the annual meeting, or follow our letters, you know that the avenue to increasing shareholder value will be growth. At the end of June,
we were approximately $1,300,000,000 in size. Our current goal is to grow the Company to $2,000,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We focus on growth for several reasons. In the
banking world today a company must have size to absorb the increasing costs of regulatory compliance and technology. With increased size and diverse markets we spread the credit risk&#151;all our eggs are not in one community basket. With size and
growth we can attract and retain strong talented employees in the marketplace. People want to be part of a strong and dynamic company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Growth will come
from two avenues&#151;organic growth and acquisitions. We are always focused on organic growth. If we have a loan customer, we want their deposit accounts. If we have their deposit accounts, we want their wealth management business. If we have a
commercial customer, we want to provide their cash management services. If we see an attractive organic growth area we will pursue it, such as our Mayfield Heights loan production office. We are good at developing multiple product customer
relationships. All that being said, organic growth, in itself, will not take us to our goal of continuing to increase shareholder value in a reasonable period of time. Organic growth must be complemented with strategic acquisitions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To make acquisitions we will need additional capital in the form of common equity. Since the formation of the holding company in 1987, we have utilized our
capital structure to expand the company, taking it from a $200,000,000 three-office bank to a $1,300,000,000 financial services company with 28 offices in 11 Ohio counties. We believe we have efficiently utilized our capital while growing the
company and delivering a 13.7% return on tangible common equity for the 12 months ending March&nbsp;31, 2015. This compares to an 11.7% median return for comparable peers. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We believe that there will be continuing opportunities for growth through acquisition. Smaller banks in Ohio are
finding it increasingly difficult to cover the costs of compliance, technology, and attracting future management&#151;they will be looking for an exit strategy. Again, for us to engage in any significant acquisition activity, we will need additional
common equity. You may have seen that we recently took the step of filing a &#147;shelf registration statement&#148; with the U.S. Securities and Exchange Commission (&#147;SEC&#148;), which simply places our offering paperwork on file and will
effectively shorten the time frame involved in completing a capital raise. Please understand that any offering under the shelf registration statement will be made only after the SEC has declared it effective and will be made by means of a
prospectus. This letter, therefore, does not constitute an offer of any of the Company&#146;s securities for sale. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Some Lingering Governance Matters
</U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will recall at our annual shareholders&#146; meeting in April 2015, we asked you to approve several governance changes that we believe would
better position us for the future&#151;including elimination of preemptive rights in common equity offerings and elimination of the option to request cumulative voting in the election of directors. As we explained in the proxy materials, the
existence of preemptive rights slows down the offering process and generally results in a discount on the sales price of the stock, which works to the detriment of all shareholders. Cumulative voting rights present a different type of challenge as
we work to grow Civista by raising capital and expanding our existing shareholder base, since it offers minority shareholders the chance to unduly impact the selection of our directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unfortunately, we were not able to get enough shareholders to vote on these governance changes at our 2015 annual meeting, so were unable to eliminate them.
Of our approximately 7,800,000 outstanding common shares, only a bit more than 4,500,000 common shares (57.7%)&nbsp;participated in voting on the issues of preemptive rights and cumulative voting. While we were heartened that 79% of the common
shares that were voted favored the elimination of preemptive rights and 75% supported getting rid of cumulative voting, it simply wasn&#146;t enough to reach our goal of having at least the majority of our outstanding common shares (approximately
3,900,000), voting in favor of these governance changes so we could put them into effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given the level of support among shareholders shown at the 2015
annual meeting and the importance of these matters, the Board of Directors has decided that these issues should be brought before the shareholders again for further consideration later this year. More details will follow, but as part of this process
we will be holding several community-based sessions with shareholders (much like we did for the preferred share offering back in 2013) so we can review and discuss these topics with you in person. Our tentative schedule of meetings is listed below.
We will also hold a special shareholders&#146; meeting to consider these matters, so please look for our proxy materials in the coming months. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Stock
Value </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Since the depth of the recession, we have had a nice market increase in our common shares from approximately $3.00 at its low to now in the high
$10.00 range. But at the current price, we are trading below multiples of our peers. Knowledgeable people in the marketplace tell us </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
this is a result of two issues. First, investors who look at bank stocks know that for us to materially grow the Company we will need additional capital. We believe that they will refrain from
activity in our common shares until it is clear what the Company intends to do. This, we believe, dampens the market from reflecting our true franchise value. Secondly, we currently have about 6% institutional ownership in our common shares. Greater
institutional ownership should increase stock activity and liquidity, and should result in a market price more reflective of our true value. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In summary,
to increase shareholder value for you, we firmly believe we need to continue to grow the Company. To grow the Company at an acceptable rate and show continued progress, we will need to consider a common equity raise. Before we come to the
marketplace with a common equity raise, you, the shareholder, need to assess the impact of cumulative voting and preemptive rights on our growth plans. As always, if you have questions, a call is always welcomed. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Very truly yours, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt; margin-left:50%; text-indent:-2%">


<IMG SRC="g62177g30w63.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">James O. Miller </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:54%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">President and CEO </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Community Based Informational Meetings&#151;Tentative Schedule 6:00 PM Meetings&#151;Refreshments served </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>9/15/15 Plum Brook County Club </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>3712
Galloway Road </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>Sandusky, Ohio 44870 </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>9/17/15 Ernsthausen Performing Arts Center </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>350 Shady Lane Drive </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>Norwalk, Ohio 44857 </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>9/22/15 Cranberry
Hills Golf Course </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>5965 State Route 103 </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>New Washington, Ohio 44854 </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>9/23/15
North Central State College </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>James W. Kehoe Center </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>175 Mansfield Avenue </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>Shelby, Ohio 44875 </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>9/30/15 Urbana
Country Club </I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>4761 East Route 36 </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:6%; font-size:10pt; font-family:Times New Roman"><I>Urbana, Ohio 43078 </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Forward Looking
Statements </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Comments made in this letter include &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be identified by the words &#147;will,&#148; &#147;may,&#148; &#147;should,&#148; </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>
&#147;believes,&#148; &#147;plans,&#148; &#147;projects,&#148; &#147;intends,&#148; &#147;expects,&#148; &#147;estimates,&#148; &#147;anticipates,&#148; &#147;continue,&#148; and similar words
and expressions. The forward-looking statements in this letter are subject to risks and uncertainties that could cause actual events or results to differ materially from those expressed in or implied by the statements. Forward-looking statements are
not guarantees of performance and are inherently subject to known and unknown risks, uncertainties and assumptions that are difficult to predict and could cause our actual results, performance or achievements to differ materially from those
expressed in or implied by the forward-looking statements. Factors that could cause actual results, performance or achievements to differ from results discussed in the forward-looking statements include, but are not limited to, changes in financial
markets or national or local economic conditions; sustained weakness or deterioration in the real estate market; volatility and direction of market interest rates; credit risks of lending activities; changes in the allowance for loan losses;
legislation or regulatory changes or actions; increases in Federal Deposit Insurance Corporation (&#147;FDIC&#148;) insurance premiums and assessments; changes in tax laws; failure of or breach in our information and data processing systems;
unforeseen litigation; and other risks identified from time-to-time in the Company&#146;s other public documents on file with the SEC, including those risks identified in &#147;Item 1A. Risk Factors&#148; of Part I of the Company&#146;s Annual
Report on Form 10-K for the fiscal year ended December&nbsp;31, 2014. The forward-looking statements speak only as of the date of this letter and the Company does not undertake, and specifically disclaims, any obligation to publicly release the
result of any revisions that may be made to any forward-looking statements to reflect occurrence of anticipated or unanticipated events or circumstances after the date of such statements, except as required by law. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Participants in the Solicitation </U></I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>The directors
and executive officers of Civista Bancshares, Inc. and other persons may be deemed to be participants in the solicitation of proxies in respect of the planned special meeting of shareholders to consider the governance matters referenced in this
letter. Information regarding Civista Bancshares, Inc.&#146;s directors and executive officers is available in its Annual Report on Form 10-K filed with the SEC on March&nbsp;13, 2015 and its Proxy Statement on Schedule 14A filed with the SEC on
March&nbsp;13, 2015. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement and other relevant
materials to be filed with the SEC when they become available. Investors should read the proxy statement carefully when it becomes available before making any voting or investment decisions. You may read and copy the proxy statement after we file it
at the SEC&#146;s public reference room at 100 F. Street, N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. Our SEC filings are also available for free to the public
from the SEC&#146;s web site at www.sec.gov or on our website at www.civb.com. Written requests for copies of the proxy statement we file with the SEC should be directed to Civista Bancshares, Inc., 100 East Water Street, Sandusky, Ohio 44870,
Attention: James E. McGookey, telephone: (419)&nbsp;625-4121. </I></P>
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