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SANDUSKY, Ohio - Civista Bancshares, Inc. (NASDAQ:CIVB), a regional bank currently trading at an attractive P/E ratio of 8.18 according to InvestingPro data, has promoted Robert L. Katitus to Senior Vice President and Chief Lending Officer, the company announced Wednesday.
Katitus, who brings over 25 years of banking and commercial lending experience, will serve on Civista’s Executive Leadership Team and report to Charles A. Parcher, President of Civista Bank. He succeeds Parcher in the lending role following Parcher’s appointment as bank president earlier this year.
Since joining Civista in 2010, Katitus has served as Senior Vice President and Regional Market Executive for Northeast Ohio, and recently oversaw commercial banking in Northwest Ohio following the company’s acquisition of The Henry County Bank in 2022.
"Bob has been instrumental in leading and growing our commercial lending efforts in both Northeast and Northwest Ohio," said Parcher in the press release.
Prior to joining Civista, Katitus held leadership positions at Park View Federal Savings Bank and began his banking career at National City Corporation in 1998. He holds a Bachelor of Science degree from The University of Akron and an MBA from the University of Dayton.
Civista Bancshares is a $4.2 billion financial holding company headquartered in Sandusky, Ohio, with a market capitalization of approximately $396 million. The company, which has maintained dividend payments for 15 consecutive years and currently offers a 3.32% dividend yield, operates 42 locations across Ohio, Southeastern Indiana and Northern Kentucky, offering banking, commercial lending, mortgage, and wealth management services. The bank has demonstrated solid performance with 7% revenue growth in the last twelve months. InvestingPro analysis reveals several additional growth metrics and performance indicators available to subscribers, along with a comprehensive Pro Research Report that provides deep-dive analysis of the company’s financial health and market position.
In other recent news, Civista Bancshares reported its second-quarter 2025 earnings, which presented a mixed picture for investors. The company’s earnings per share (EPS) stood at $0.71, aligning with analyst expectations, though revenue fell short at $41.4 million, compared to the projected $42.88 million. Additionally, Civista’s operating earnings reached $0.67 per share, hitting the high end of its previously announced range. However, pre-tax, pre-provision net revenue missed consensus expectations by about 2%, mainly due to weaker leasing revenue impacting fee income. Stephens, an analyst firm, responded by lowering its price target for Civista Bancshares from $27.00 to $24.00, maintaining an Equal Weight rating on the stock.
Moreover, Civista Bancshares has updated its corporate bylaws to align with recent changes in Ohio’s General Corporation Law. These amendments include provisions allowing the board to set alternate dates for shareholder meetings and determine director compensation. These developments reflect the company’s efforts to modernize and adapt to regulatory changes.
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