CIVISTA BANCSHARES, INC. Debt Disclosure
NOTE 10 - SHORT-TERM BORROWINGS
Short-term borrowings, which consist of federal funds purchased and other short-term FHLB advances, are summarized as follows:
|
|
At December 31, 2025 |
|
|
At December 31, 2024 |
|
||||||||||
|
|
Federal |
|
|
Short-term FHLB Advances |
|
|
Federal |
|
|
Short-term FHLB Advances |
|
||||
Outstanding balance at year end |
|
$ |
— |
|
|
$ |
175,000 |
|
|
$ |
— |
|
|
$ |
339,000 |
|
Maximum indebtedness during the year |
|
|
20,000 |
|
|
|
465,000 |
|
|
|
50,000 |
|
|
|
501,500 |
|
Average balance during the year |
|
|
137 |
|
|
|
296,338 |
|
|
|
137 |
|
|
|
341,692 |
|
Average rate paid during the year |
|
|
4.38 |
% |
|
|
4.41 |
% |
|
|
5.27 |
% |
|
|
5.23 |
% |
Interest rate on year end balance |
|
|
— |
|
|
|
3.81 |
% |
|
|
— |
|
|
|
4.42 |
% |
Average balances during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances.
These borrowing transactions can range from overnight to six months in maturity.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 6, 2026 | Showing above |
| 2024 | Mar 10, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 15, 2023 | |
| 2021 | Mar 15, 2022 | |
| 2020 | Mar 15, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Mar 15, 2019 | |
| 2017 | Mar 8, 2018 | |
| 2016 | Mar 15, 2017 | |
| 2015 | Mar 15, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.