To expand its footprint in Northwest Ohio, Civista Bancshares, Inc. CIVB has signed a stock-cum-cash deal to acquire Comunibanc Corp. for $50.2 million. The transaction, expected to close next quarter, will add seven branches in Henry and Wood Counties.Following this positive development, shares of Civista gained 3.5% in after-hours trading.The deal is expected to bolster Civista’s commercial lending platform and add $329 million of total assets, $276 million of low-cost core deposits and $165 million of total loans. Thus, the combined company (based on Sep 30, 2021 data) will have total assets of $3.3 billion, total net loans of $2.1 billion and total deposits of $2.7 billion.Dennis G. Shaffer, CEO and President of Civista said, “The current Civista team has significant experience operating in the Northwest Ohio market and are very excited to partner with Comunibanc and accelerate growth.”Terms & Financial BenefitsUnder the terms of the transaction, each share of Comunibanc common stock will get 1.1888 shares of Civista common stock and $30.13 in cash. The deal, still subject to the approval of Comunibanc shareholders and regulators, has already been approved by the boards of directors of both companies.Further, both the companies expect the deal to qualify as tax-free for the portion of the merger consideration to be exchanged for Civista shares. Following the closure, one of the Comunibanc directors will join Civista’s board.Civista projects the deal to be 10% accretive to its 2023 earnings. Also, any dilution in the company’s tangible book value because of the transaction is anticipated to be earned back in roughly 2.9 years post-completion.ConclusionOver the years, Civista has grown through strategic buyouts. In September 2018, the company had acquired United Community Bancorp for $116.3 million, which along with similar other buyouts, continues to support its financials.Over the past year, shares of Civista have gained 30.8%, outperforming the industry’s rally of 13%. Image Source: Zacks Investment ResearchAt present, CIVB carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Similar Steps by Other BanksOver the past few months, several banks have undertaken consolidation efforts to counter the low-interest-rate environment and heightened costs related to investments in technology.In late December 2021, RBB Bancorp RBB entered into a definitive agreement to buy Gateway Bank in a cash transaction valued at $22.9 million to penetrate the strategic San Francisco Bay Area.Gateway Bank has a focus on the Asian American communities in the San Francisco Bay Area. It has another branch in Oakland’s Chinatown neighborhood, providing consumer and business banking and loan products and services. Hence, the buyout will expand RBB Bancorp’s physical presence in six of nine target markets of Gateway Bank and provide a profitable base to extend the advancement the latter has made in the Bay Area.Additionally, in early December, United Bankshares, Inc. UBSI announced the completion of its merger deal with Community Bankers Trust Corporation.The buyout brought together two high-performing banking companies. It also bolsters United Bankshares' position as one of the largest and best-performing regional banking companies in the Mid-Atlantic and Southeast. The combined entity will now operate across 250 locations in opportunistic markets in the United States. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United Bankshares, Inc. (UBSI): Free Stock Analysis Report Civista Bancshares, Inc. (CIVB): Free Stock Analysis Report RBB Bancorp (RBB): Free Stock Analysis Report To read this article on Zacks.com click here.