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Subsequent Events | 6 Months Ended
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Jun. 30, 2022
Subsequent Events [Abstract] |
Subsequent Events | (17) Subsequent Events On July 1, 2022, CBI consummated the merger of (i) Comunibanc Corp. (“Comunibanc”) with and into CBI and (ii) Henry County Bank, an Ohio banking corporation and wholly-owned subsidiary of Comunibanc, with and into Civista (the “Merger”), in accordance with the Agreement and Plan of Merger, dated as of January 10, 2022, by and between Civista and Comunibanc (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, each share of Comunibanc common stock was converted into the right to receive $30.13 in cash and 1.1888 CBI common shares. Cash will be paid in lieu of fractional shares. In the aggregate, the Company paid approximately $25.0 million in cash and issued approximately 985 thousand shares of its common stock, valued at approximately $21.1 million as of July 1, 2022, in the Merger for a total transaction value of approximately $46.1 million. The purchase price allocation and certain fair value measurements remain preliminary due to the timing of the Merger. Due to the recent closing, management remains in the early stages of reviewing the estimated fair values and evaluating the assumed tax positions of this Merger. The Company expects to finalize its analysis of the acquired assets and assumed liabilities in this transaction within one year of the Merger.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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