Robert L. Katitus
About Robert L. Katitus
Robert L. “Bob” Katitus is Senior Vice President and Chief Lending Officer of Civista Bancshares, Inc. and Civista Bank, appointed August 13, 2025; he reports to Civista Bank President Charles A. Parcher and serves on Civista’s Executive Leadership Team . He joined Civista in 2010 after leadership roles in commercial lending at Park View Federal Savings Bank and began his banking career at National City Corporation in 1998; he holds a BS from The University of Akron and an MBA from the University of Dayton . Company performance metrics tied to executive incentives emphasize Net Income, efficiency ratio, loan and core deposit growth, and equity pay metrics relative TSR and ROAE; for 2024 loans and deposits exceeded maximum targets, while TSR was below threshold and ROAE was between threshold and target . Civista’s broader performance context includes year-to-date 2025 net income of $33.9 million, expanding net interest margin to 3.58% in Q3 2025, and organic deposit growth in Ohio’s major MSAs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Civista Bancshares / Civista Bank | SVP & Chief Lending Officer; Executive Leadership Team member | 2025–present | Enterprise-wide lending leadership; continuity after Parcher promotion |
| Civista | SVP, Regional Market Executive (Northeast Ohio); led commercial banking in Northwest Ohio post Henry County Bank acquisition | 2010–2025 | Grew commercial lending across NE/NW Ohio; integration of acquired market |
| Park View Federal Savings Bank | Commercial lending leadership roles | Not disclosed | Prior leadership experience in commercial lending |
| National City Corporation | Banking career start | 1998–Not disclosed | Foundational corporate finance and lending experience |
External Roles
No external directorships or board roles were disclosed for Mr. Katitus in company filings and releases .
Fixed Compensation
Civista sets executive base salaries around the 50th percentile of Midwest peer banks (assets $1.5–$7.2B), informed by Blanchard Consulting Group and Salary.com CompAnalyst data; cash compensation and total compensation benchmarks are assessed against the 75th percentile when structuring incentive opportunities . Individual base salary and cash retainer details for Mr. Katitus were not disclosed; NEO salaries and methodology provide relevant framework .
Performance Compensation
Civista’s incentive framework includes annual cash bonuses tied to financial measures and equity awards tied to relative performance, with Compensation Committee discretion.
| Metric | Weighting | Target (2024) | Actual (2024) | Payout Basis | Vesting |
|---|---|---|---|---|---|
| Net Income (cash) | 25% of cash | $30,607,000 | Between target and max | Paid per cash formula | N/A |
| Efficiency Ratio (cash) | 25% of cash | 68.5% | Between target and max | Paid per cash formula | N/A |
| Total Loans booked/sold (cash) | 25% of cash | $3,138,363,000 | Exceeded max | Paid per cash formula | N/A |
| Average core deposits ex-brokered/tax (cash) | 25% of cash | $2,502,756,000 | Exceeded max | Paid per cash formula | N/A |
| Relative TSR vs peer (equity) | 65% of equity | 50th percentile (3-yr avg) | Below threshold | Discretionary award between threshold and target | Restricted stock, 3-year ratable vest |
| Relative ROAE vs peer (equity) | 35% of equity | 50th percentile (3-yr avg) | Between threshold and target | Paid per equity formula | Restricted stock, 3-year ratable vest |
2025 equity measures were revised to ROTCE, EPS, and TSR, with 50% of equity payout as outright grant and 50% performance-based; cash measures retained Net Income, Efficiency Ratio, Total Loans, Core Deposit growth and added reduction of wholesale funding .
Equity Ownership & Alignment
| Category | Details |
|---|---|
| Total beneficial ownership | 7,445 common shares (2,273 + 4,550 + 622) as of Form 3/A dated 08/27/2025 |
| Ownership % of shares outstanding | ~0.0385% (7,445 ÷ 19,312,879 common shares outstanding at 11/01/2025) |
| Vested vs unvested shares | Not disclosed for Mr. Katitus (Form 3/A lists common shares only) |
| Options | Civista has not granted stock options in more than 15 years (no options disclosed) |
| Pledging / Hedging | Insider Trading Policy prohibits hedging, margin purchases, short-term trading; pre-clearance and trading windows required |
| Ownership guidelines | Board has a 5,000-share minimum guideline for Directors; executive guidelines not disclosed |
Restricted stock under the 2024 Incentive Plan typically vests 1/3 on January 2 of year 1, and the remaining half on January 2 of year 2 and January 4 of year 3; example NEO grants on 02/20/2024 follow 2025/2026/2027 vesting cadence .
Employment Terms
- Change-in-control agreements: In place for NEOs only; provide 1.5x salary plus average cash/equity bonus (3-year look-back) upon termination within 24 months of a change-in-control, with COBRA and severance; double-trigger and non-compete provisions apply. Mr. Katitus’ agreement status is not disclosed .
- Clawback: Civista’s Clawback Policy (amended/restated 2023) applies to executive and senior officers; recoups excess incentive compensation for three completed fiscal years preceding any required accounting restatement. Senior Officer acknowledgement is required and applies during and after employment .
- Insider trading: Pre-clearance, blackout periods, and prohibition on hedging/derivatives ensure alignment and mitigate reputational risk .
- Deferred compensation/SERP: Company maintains nonqualified deferred comp and a SERP for select executives; no specific disclosure of Mr. Katitus’ participation .
Investment Implications
- Pay-for-performance alignment: Incentives tied to core profitability (Net Income, efficiency), balance-sheet growth (loans, core deposits), and shareholder outcomes (TSR/ROAE/rotating to ROTCE/EPS) support linkage of compensation to value creation; 2024 results drove above-target cash payouts and partial equity despite TSR shortfall, reflecting balanced committee discretion .
- Insider selling pressure: The three-year ratable vest schedule and tax-withholding share liquidations at Civista (8,716 shares in 9M 2025) imply periodic supply from vesting cycles, though not specifically tied to Mr. Katitus .
- Ownership alignment: Modest insider ownership, combined with strict hedging/blackout policies and the clawback regime, reduces misalignment and compliance risk .
- Retention and transition: The absence of disclosed change-in-control coverage for Mr. Katitus (vs. NEOs) and his recent promotion suggests retention relies on role scope and incentive equity rather than contractual severance economics; succession planning through Parcher’s elevation and Katitus’ promotion reduces execution risk in lending .
- Company momentum: Civista’s improving NIM, efficiency ratio, and organic growth in major MSAs enhance the operating backdrop for the lending franchise led by Mr. Katitus, reinforced by capital raise and accretive FSB acquisition .