SANDUSKY, Ohio, Nov. 4, 2015 /PRNewswire/ -- Civista Bancshares, Inc.'s Chairman and CEO James O. Miller announced that its shareholders voted to approve the proposals to eliminate pre-emptive rights and cumulative voting at a special meeting of shareholders today.
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.
"We are extremely pleased that our shareholders have overwhelmingly approved today's proposals. 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," added Miller.
ABOUT CIVISTA BANCSHARES, INC.
Civista Bancshares, Inc., formerly First Citizens Banc Corp, is a $1.3 billion financial holding company headquartered in Sandusky, Ohio. Its affiliated companies are Civista Bank, First Citizens Insurance Agency Inc., and Water Street Properties. Civista Bancshares, Inc.'s common shares are traded on the NASDAQ Capital Market under the symbol "CIVB". The Company's depositary shares, each representing a 1/40th ownership interest in a Series B Preferred Share, are traded on the NASDAQ Capital Market under the symbol "CIVBP". For more information, visit www.civb.com.
SOURCE Civista Bancshares, Inc.