Civista Bancshares, Inc. Announces Extension of Exchange Offer for 3.25% Fixed-to-Floating Rate Subordinated Notes Due 2031
April 22, 2022 at 01:30 pm
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Civista Bancshares, Inc. announced that it has extended its registered exchange offer to exchange any and all of its $75,000,000 aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, which were issued in a private placement on November 30, 2021, for an equal principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031, which have been registered under the Securities Act of 1933, as amended. The exchange offer, which had been scheduled to expire at 5:00 p.m., New York City time, on April 21, 2022, will now expire at 5:00 p.m., New York City time, on April 26, 2022, unless further extended by Civista. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. As of 5:00 p.m., New York City time, on April 21, 2022, $71,500,000aggregate principal amount of the outstanding notes had been tendered for exchange, representing approximately 95.3% of the outstanding notes.
Civista Bancshares, Inc. is a financial holding company. The Company, through its subsidiary, Civista Bank, is engaged in the business of community banking. Civista Bank through its locations in the Ohio counties of Erie, Crawford, Champaign, Cuyahoga, Franklin, Huron, Logan, Madison, Montgomery, Ottawa, Richland, Henry, Wood, and Summit, in the Indiana counties of Dearborn and Ripley and in the Kentucky county of Kenton, conducts a general banking business that involves collecting customer deposits, making loans, purchasing securities, and offering Trust services. Civista Bank is also engaged in a general equipment leasing and financing business through its Civista Leasing & Financing (CLF) division. Its Civista Wealth Management division offers investment advisory services to individuals, families, businesses, and non-profits with personalized investment management, 401(k) advisory services for employers, financial planning, and trust services.