NEWS PROVIDED BY
Civista Bancshares, Inc.
Sep 30, 2022, 08:30 ET

SANDUSKY, Ohio and PITTSBURGH, Sept. 30, 2022 /PRNewswire/ -- Sandusky, Ohio-based Civista Bancshares, Inc. ("Civista") (NASDAQ:CIVB ) announced today the signing of a definitive stock purchase agreement pursuant to which Civista will acquire all of the issued and outstanding shares of

Pittsburgh-based Vision Financial Group, Inc. ("VFG"), a leading privately held, independent, full-service general equipment leasing & financing company. Founded in1991 by Fred Summers, VFG provides lending solutions to both small- and medium-sized businesses and large corporate customers across the United States. VFG plays a meaningful role in the success and growth of its customers' businesses by serving as a knowledgeable and reliable financing source for revenue-producing equipment. Based on financial data as of June30, 2022, VFG had total loan and lease assets of approximately $89 million, and is expected to generate loan and lease originations exceeding $120 million during 2022.
Upon completion of the transaction, VFG will become a subsidiary of Civista Bank, with current VFG leadership and all employees continuing in their positions, led by CEO Bill Summers. As a subsidiary of Civista Bank, VFG will continue to operate under the Vision Financial Group, Inc.name taking advantage of the company's existing brand awareness within the equipment finance industry. This acquisition builds on Civista's proven track record of partnering and acquiring like-minded businesses and financial institutions in order to leverage excess capital and deliver strong financial results to its shareholders. This partnership will also allow Civista to expand its product offerings and provide complementary services to its existing commercial lending customers.