Civista to acquire bank

SANDUSKY — Earlier this month, Civista Bank announced that it has entered into an agreement to acquire The Farmers Savings Bank, headquartered in Spencer, Ohio, as part of its continued strategic growth in northeast Ohio. Directors from both boards unanimously approved the agreement. Pending regulatory approval, the transaction should close later this year. "The planned acquisition brings together two organizations with deep roots in their communities and a shared passion for local banking, personal service and helping neighbors thrive," according to a statement from Civista. "The partnership is expected to strengthen Civista's presence in the region and broaden access to financial resources for families, businesses and communities across Medina and Lorain counties." Leaders from both organizations spoke about this partnership. • Dennis Shaffer, president and CEO of Civista Bank: This acquisition not only strengthens our presence in northeast Ohio but also reflects our shared commitment to community banking. By combining our resources and expertise, we're positioned to deliver greater value to our shareholders while continuing to support the individuals, families and businesses that make Spencer, Wellington and the surrounding communities so special. • Tom Lee, president and CEO of Farmers Savings Bank: This partnership with Civista marks an exciting new chapter for Farmers Savings Bank and the communities we serve. Civista shares our deep commitment to personalized service and community values. We are confident this transition will bring expanded opportunities and enhanced resources to our customers while preserving the trusted relationships we've built over the years. Customers shouldn't notice too many changes. "It's business as usual with the added promise of continued local service, deeper resources and more opportunities to bank better, together," according to the Civista statement. "As we move forward, Civista is also preparing for continued growth across our markets," it continued. "Alongside this acquisition, Civista has announced a public offering of common shares to support future opportunities. These efforts reflect our long-term commitment to investing in our communities, strengthening our financial foundation and helping more individuals and businesses reach their financial goals." The statement then underscored how, for more than 140 years, "Civista Bank has focused on building relationships, strengthening neighborhoods and helping our communities grow. This next step in our journey is another reflection of that purpose—bringing together two like-minded institutions to serve with care, integrity and local heart."