Civista shareholders amend company's charter.
BANKING AND CREDIT NEWS-November 12, 2015-Civista shareholders amend company's charter
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Civista Bancshares, Inc. (NASDAQ: CIVB) said its shareholders have voted to approve proposals to eliminate pre-emptive rights and cumulative voting at a special meeting of shareholders.
Of the 77 percent of common shares voted, 92 percent voted in favor of eliminating pre-emptive rights and 88 percent voted in favor of eliminating cumulative voting.
Civista chairman and CEO James O. Miller said, "We believe these corporate modifications better position us to accomplish our strategic growth initiatives. We certainly appreciate the resounding support and display of confidence of our shareholders."
Civista Bancshares, Inc., formerly First Citizens Banc Corp, is a USD1.3 billion financial holding company headquartered in Sandusky, Ohio. Its affiliated companies are Civista Bank, First Citizens Insurance Agency Inc., and Water Street Properties.
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