March 12, 2018 / 12:19 PM / 6 months ago

BRIEF-Civista Bancshares To Acquire United Community Bancorp

March 12 (Reuters) - Civista Bancshares Inc:

* CIVISTA BANCSHARES, INC. TO ACQUIRE UNITED COMMUNITY BANCORP

* CIVISTA BANCSHARES INC - DEAL VALUE PER SHARE OF $26.22 OR APPROXIMATELY $114.4 MILLION

* CIVISTA BANCSHARES- 3 EXISTING UNITED DIRECTORS TO JOIN CIVISTA BANK BOARD & 2 OF THOSE DIRECTORS WILL JOIN CO'S BOARD AFTER DEAL‍​

* CIVISTA BANCSHARES - ‍CONSIDERATION UNITED TO RECEIVE IS EQUIVALENT TO 1.027 SHARES OF CIVISTA COMMON STOCK & $2.54 IN CASH/SHARE OF UNITED STOCK​

* CIVISTA BANCSHARES - CO, UNITED ANTICIPATE DEAL WILL QUALIFY AS TAX-FREE REORGANIZATION TO EXTENT THAT UNITED SHAREHOLDERS RECEIVE CO STOCK IN DEAL

* CIVISTA BANCSHARES - DIRECTORS OF CO, DIRECTORS & EXECUTIVE OFFICERS OF UNITED AGREED TO VOTE ALL SHARES OWNED IN RESPECTIVE COS IN FAVOR OF MERGER

* CIVISTA BANCSHARES INC - ACQUISITION OF UNITED IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO CIVISTA'S EARNINGS IN 2018 AND THEREAFTER

* CIVISTA BANCSHARES INC - POST-CLOSING OF DEAL, CIVISTA'S CAPITAL RATIOS ARE EXPECTED TO CONTINUE TO EXCEED "WELL-CAPITALIZED" REGULATORY STANDARDS Source text for Eikon: Further company coverage:

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