COMP <GO>

FBIZ vs CIVB // EV/EBITDA & P/E VALUATION

First Business Financial Services Inc. (NASDAQ) VS. Civista Bancshares Inc. (NASDAQ) • 15-METRIC TALLY: FBIZ 6 — CIVB 1

■ METRIC PARITY

LAST: $73.76 (+1.39%) • MKT CAP: $617.2M

valuation

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LAST: $28.47 (+1.03%) • MKT CAP: $592.0M

valuation

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (FBIZ VS. CIVB) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	FBIZ	CIVB	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	13.50%	8.50%	+5.00	FBIZ	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	9.90%	7.11%	+2.79	FBIZ	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	68.00%	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	-0.50%	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	1.57%	2.00%	-0.43	CIVB	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	5/9	4/9	+1.00	FBIZ	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	72.6	62.6	+10.05	FBIZ	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	11.4x	11.9x	-0.50	FBIZ	/forward-pe <GO>
Enterprise Scale & Market Cap	$617.2M	$592.0M	$25.2M	FBIZ	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	FBIZ REV	CIVB REV	FBIZ GROSS %	CIVB GROSS %	FBIZ FCF	CIVB FCF
FY 2025	$0	$19.0M	—	—	$61.1M	$42.1M
FY 2024	$0	$19.1M	—	—	$57.3M	$44.1M
FY 2023	$0	$30.4M	—	—	$52.3M	$62.7M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

FBIZ // BETA —

CIVB // BETA —