<SEC-DOCUMENT>0001564590-18-014234.txt : 20180523
<SEC-HEADER>0001564590-18-014234.hdr.sgml : 20180523
<ACCEPTANCE-DATETIME>20180523160521
ACCESSION NUMBER:		0001564590-18-014234
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20180523
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20180523
DATE AS OF CHANGE:		20180523

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:		18855133

	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>civb-8k_20180523.htm
<DESCRIPTION>8-K
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-top:4pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C.&nbsp;&nbsp;20549</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date of Report (Date of earliest event reported): May 23, 2018</p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:20pt;text-transform:uppercase;font-family:Times New Roman;font-style:normal;font-variant: normal;">CIVISTA BANCSHARES, INC.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Exact name of registrant as specified in its charter)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:46.15%;margin-right:46.15%;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">001-36192</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">34-1558688</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(State or other jurisdiction </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">of incorporation)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Commission</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">File No.) </p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(IRS Employer</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:8pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">I.D. No.)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">100 East Water Street,</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">P.O. Box 5016, Sandusky, Ohio&nbsp;&nbsp;44870</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(<font style="font-size:8pt;">Address of principal executive offices</font>)&nbsp;&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Registrant&#8217;s telephone number, including area code:&nbsp;&nbsp;<font style="text-decoration:underline;">(419) 625-4121</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">&#160;&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; Not Applicable&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; &#160;</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Former name or former address, if changed since last report)</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9744;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:MS Mincho;font-size:10pt;"><font style="font-family:Times New Roman;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9744;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:MS Mincho;font-size:10pt;"><font style="font-family:Times New Roman;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9744;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:MS Mincho;font-size:10pt;"><font style="font-family:Times New Roman;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
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<p style="margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:MS Mincho;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9744;</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:MS Mincho;font-size:10pt;"><font style="font-family:Times New Roman;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Act of 1934 (&#167;240.12b-2 of this chapter<font style="font-weight:bold;">)</font></p>
<p style="margin-bottom:6pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company&nbsp;&nbsp;<font style="font-family:MS Mincho;">&#9744;</font> </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.&nbsp;&nbsp;<font style="font-family:MS Mincho;">&#9744;</font> </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:6pt;margin-top:0pt;font-weight:bold;font-size:10pt;font-family:Book Antiqua;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-size:10pt;font-family:Book Antiqua;font-style:normal;text-transform:none;font-variant: normal;">Item 8.01.</font></p></td>
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<p style="margin-bottom:6pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-weight:bold;font-size:10pt;font-family:Book Antiqua;font-style:normal;text-transform:none;font-variant: normal;"></font><font style="font-weight:bold;font-size:10pt;font-family:Book Antiqua;font-style:normal;text-transform:none;font-variant: normal;"> Other Events.&nbsp;&nbsp;</font></p></td></tr></table></div>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Book Antiqua;font-weight:normal;text-transform:none;font-variant: normal;">Common Shares </p>
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following is a summary of the material terms of the Company&#8217;s common shares.&nbsp;&nbsp;This summary is not a complete description of the terms of the Company&#8217;s common shares and is subject to and qualified in its entirety by reference to the Company&#8217;s Amended and Restated Articles of Incorporation, as amended from time to time (the &#8220;Articles of Incorporation&#8221;), and Amended and Restated Code of Regulations, as amended from time to time, and the Ohio General Corporation Law.&nbsp;&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under the Company&#8217;s Articles of Incorporation, we are authorized to issue up to 20,000,000 common shares.&nbsp;&nbsp;As of May 1, 2018, 10,260,039 common shares were outstanding and 747,964 common shares were held by the Company as treasury shares.&nbsp;&nbsp;&nbsp;&nbsp; </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Each common share entitles the holder thereof to share ratably in the Company&#8217;s net assets legally available for distribution to shareholders in the event of the Company&#8217;s liquidation, dissolution or winding up, after payment in full of all amounts required to be paid to creditors or provision for such payment, subject to the rights of the holders of the Company&#8217;s Series B Preferred Shares (the &#8220;Series B Preferred Shares&#8221;) and any other senior securities the Company may issue from time to time (together with the Series B Preferred Shares, the &#8220;Senior Securities&#8221;).&nbsp;&nbsp;With respect to the amounts to be paid upon liquidation, the Company&#8217;s Preferred Shares rank senior to the common shares. </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to 2000, the Ohio Revised Code provided that, unless the articles of an Ohio corporation state otherwise, the holders of shares of an Ohio corporation have the pre-emptive right, upon the offering or sale for cash of shares of the same class, during a reasonable time and on reasonable terms fixed by the directors, to purchase the shares in proportion to their respective holdings of shares of such class.&nbsp;&nbsp;The law was amended in 2000 to provide that shareholders of an Ohio corporation do not have pre-emptive rights to acquire a corporation&#8217;s unissued shares except to the extent otherwise provided in the corporation&#8217;s articles.&nbsp;&nbsp;However, as amended, the law provides that the provisions, as they existed prior to the effective date of the 2000 amendment, shall continue to apply to any corporation incorporated prior to the effective date of the amendment, until the shareholders of such corporation adopt an amendment to its articles expressly providing otherwise. On November 4, 2015, the shareholders adopted an amendment to Article NINTH of the Articles of Incorporation to eliminate the pre-emptive rights for all holders the Company&#8217;s shares, except as may be specifically designated by the Company&#8217;s Board of Directors.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As an Ohio corporation, the Company may, in the discretion of the Company&#8217;s Board of Directors, generally pay dividends to the Company&#8217;s shareholders out of surplus, however created, but must notify the shareholders if a dividend is paid out of capital surplus.&nbsp;&nbsp;The Company&#8217;s ability to obtain funds for the payment of dividends and for other cash requirements largely depends on the amount of dividends that may be declared and paid by the Company&#8217;s subsidiaries.&nbsp;&nbsp;Thus, as a practical matter, any restrictions on the ability of the Company&#8217;s subsidiaries, including Civista Bank, to pay dividends will act as restrictions on the amount of funds available for payment of dividends by the Company. </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The ability of Civista Bank to pay dividends is subject to limitations under various laws and regulations and to prudent and sound banking principles. Generally, subject to certain minimum capital requirements, Civista Bank may declare a dividend without the approval of the State of Ohio Division of Financial Institutions so long as the total of the dividends in a calendar year does not exceed Civista Bank&#8217;s total net income for that year combined with its retained net income for the two preceding years.&nbsp;&nbsp;The ability of the Company&#8217;s subsidiaries to pay dividends to us is also subject to their profitability, financial condition, capital expenditures and other cash flow requirements and contractual obligations.&nbsp;&nbsp;The dividend rights of holders of the Company&#8217;s common shares are also qualified by and subject to the dividend rights of holders of the Company&#8217;s Senior Securities.&nbsp;&nbsp;With respect to the payment of dividends, the Preferred Shares rank senior to the common shares.&nbsp;&nbsp;Dividends may not be paid on common shares or other capital securities ranking junior to the Preferred Shares for any dividend period for which a dividend has been declared but not paid in full until full dividends have been paid or set apart for payment for the Preferred Shares.&nbsp;&nbsp;</p>
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Holders of Common Shares </font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">are</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> entitled to one vote per share on all matters submitted to a vote of the shareholders.&nbsp;&nbsp;</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Under Ohio law, shareholders have the right to make a request, in accordance with applicable procedures, to cumulate their votes in the election of directors unless a corporation&#8217;s articles of incorporation are amended, in accordance with applicable proced</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ures, to eliminate that right.&nbsp;&nbsp;Cumulative voting allows each shareholder to multiply the number of shares that he or she may be entitled to vote by the total number of Directors to be elected and to cast the entire number of such votes for one candidate o</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">r to distribute them among </font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">any two or more candidates.&nbsp;&nbsp;As of the November 4, 2015, the </font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Company amended</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Article TENTH of the</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Articles of Incorporation to eliminate cumulative voting in the election of directors</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> for all holders of shares of any class of the</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Company.</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Article SIXTH of the Articles of Incorporation sets forth certain requirements in connection with the approval or authorization of any of the following types of business combinations: </p>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any merger or consolidation involving the Company or any subsidiary of the Company; </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any sale, lease, exchange, transfer or other disposition of all or a substantial part of the assets of the Company or any subsidiary of the Company; </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any sale, lease, exchange, transfer or other disposition of all or a substantial part of the assets of any entity to the Company or any subsidiary of the Company; </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any issuance, sale, exchange, transfer or other disposition by the Company or any subsidiary of the Company of any corporation; </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any recapitalization or reclassification of the Company&#8217;s securities or other transaction that would have the effect of increasing the voting power of a &#8220;related person&#8221; (as defined below); </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any liquidation, spin-off, split-up or dissolution of the Company; and </p></td></tr></table></div>
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<p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8226;</font></p></td>
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<p style="margin-top:6pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Book Antiqua;font-size:10pt;">any agreement, contract or other arrangement providing for any of the foregoing transactions. </p></td></tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For purposes of Article SIXTH, &#8220;related person&#8221; generally means any person, entity or group, including any affiliate or associate thereof (other than the Company, any wholly-owned subsidiary of the Company, or any trustee of, or fiduciary with respect to, any plan when acting in such capacity) that, at the time any business combination is agreed to, authorized or approved, is the beneficial owner of not less than 10% of the Common Shares entitled to vote on such business combination. </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Article SIXTH provides that, when evaluating a business combination or any tender or exchange offer, in addition to the adequacy of the amount to be paid, the Board of Directors of the Company shall consider, without limitation: (i)&#160;the social and economic effects of the transaction on the Company and its subsidiaries, employees, customers, creditors and community; (ii)&#160;the business and financial conditions and earning prospects of the acquiring person or persons; and (iii)&#160;the competence, experience and integrity of the acquiring person or persons and its or their management. </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Article SIXTH further provides that the affirmative vote of the holders of not less than 80% of each class of the Company common shares entitled to vote on the transaction shall be required for the approval of any business combination in which a related person has an interest (except proportionately as a shareholder); provided, however, that the 80% voting requirement shall not be applicable if (i)&#160;the continuing directors, who at the time constitute at least a majority of the Board of Directors of the Company, have approved the business combination by at least two-thirds vote or (ii)&#160;certain conditions relating to the transaction have been satisfied. If the 80% voting requirement is inapplicable, any business combination requiring shareholder approval may be authorized by the affirmative vote of the holders of the Company common shares entitling them to exercise a majority of the voting power of the Company in accordance with Article FIFTH of the Articles of Incorporation. </p>
<p style="text-align:center;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">- 2 -</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Article SEVENTH of the Articles of Incorporation provides that no amendment of the Articles </font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">of Incorporation shall be effective to amend, alter or repeal any of the provisions of Article SIXTH unless such amendment shall receive the affirmative vote of the holders of not less than 80% of the Company&#8217;s common shares entitled to vote thereon; provi</font><font style="font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">ded, however, that the 80% voting requirement shall not be applicable if such amendment shall have been proposed and authorized by the Board of Directors of the Company by the affirmative vote of at least two-thirds of the continuing directors. </font></p>
<p style="text-align:center;margin-bottom:12pt;margin-top:18pt;text-indent:0%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">SIGNATURES</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.69%;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Book Antiqua;font-style:normal;text-transform:none;font-variant: normal;">Civista Bancshares, Inc<font style="font-weight:normal;">.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: May 23, 2018</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Todd A. Michel</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Todd A. Michel,</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Book Antiqua;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Senior Vice President &amp; Controller</p></td>
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