Civista Bancshares Announces Retirement of Controller Todd Michel

Rhea-AI Summary

Civista Bancshares (NASDAQ: CIVB) has announced the retirement of Todd Michel, Senior Vice President and Controller, effective July 16, 2024. Michel concludes a remarkable 39-year career with the company, having joined in 1985 as a seasonal teller. The company has initiated a search for a permanent replacement. In the interim, Ian Whinnem, Senior Vice President and Chief Financial Officer, will serve as Principal Accounting Officer.

Michel's career progression at Civista included joining the accounting department in 1988 after graduating from Bowling Green State University, being promoted to Vice President and Controller in 1998, and becoming Senior Vice President in 2000.

Positive

• Long-term employee retention demonstrated by Michel's 39-year career
• Smooth transition plan with interim Principal Accounting Officer in place

Negative

• Loss of experienced senior executive with deep institutional knowledge

SANDUSKY, Ohio, July 16, 2024 /PRNewswire/ -- Civista Bancshares, Inc. ("Civista") (NASDAQ: CIVB) announced today that Todd Michel, Senior Vice President and Controller, will retire from the Company effective July 16, 2024. The Company has commenced a search for a permanent replacement for Mr. Michel; in the interim, Ian Whinnem, Senior Vice President and Chief Financial Officer, will serve as Principal Accounting Officer.

Mr. Michel completes a 39-year career with Civista, having joined the Company in 1985 as a seasonal teller while attending Bowling Green State University. Upon receiving his Bachelor of Science degree in business in 1988, he joined the Company's accounting department. He was promoted to Vice President and Controller in 1998 and Senior Vice President in 2000.

About Civista Bancshares, Inc.
Civista Bancshares, Inc., is a $3.9 billion financial holding company headquartered in Sandusky, Ohio. Its primary subsidiary, Civista Bank, was founded in 1884 and provides full-service banking, commercial lending, mortgage, and wealth management services.  Today, Civista Bank operates 43 locations across Ohio, Southeastern Indiana and Northern Kentucky. Civista Leasing & Finance, a division of Civista Bank, offers commercial equipment leasing services for businesses nationwide. Civista Bancshares' common shares are traded on the NASDAQ Capital Market under the symbol "CIVB". Learn more at www.civb.com.

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SOURCE Civista Bancshares, Inc.

FAQ

When will Todd Michel retire from Civista Bancshares (CIVB)?

Todd Michel will retire from Civista Bancshares (CIVB) effective July 16, 2024.

Who will replace Todd Michel as Controller at Civista Bancshares (CIVB)?

Civista Bancshares (CIVB) has commenced a search for a permanent replacement. In the interim, Ian Whinnem, Senior Vice President and Chief Financial Officer, will serve as Principal Accounting Officer.

How long did Todd Michel work at Civista Bancshares (CIVB)?

Todd Michel had a 39-year career with Civista Bancshares (CIVB), joining the company in 1985 as a seasonal teller.

What positions did Todd Michel hold at Civista Bancshares (CIVB)?

Todd Michel held positions including seasonal teller, accounting department member, Vice President and Controller (1998), and Senior Vice President (2000) at Civista Bancshares (CIVB).