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City Holding Co (CHCO), headquartered in Charleston, West Virginia, is a financial holding company recognized as one of the most profitable publicly traded banks in the United States. Founded in 1957, City Holding employs approximately 875 professionals and operates through its extensive network of 85 banking offices located across West Virginia, Virginia, Kentucky, and southeastern Ohio.
City Holding Co offers a wide range of banking, trust, and investment management services tailored to meet the needs of both commercial and consumer clients. Some of the key services provided include savings accounts, credit and debit cards, overdraft facilities, loans for various purposes, investment advisory, securities brokerage, and insurance.
The company has demonstrated a solid track record of growth and strategic acquisitions. In recent years, City Holding Co acquired Virginia Savings Bank in 2012 and Community Bank in 2013, expanding its footprint and service offerings within Virginia.
City Holding Co continues to thrive due to its strong financial condition and commitment to customer service. In 2012, it was ranked as the #8 best performing bank in the country by Bank Director Magazine. Additionally, the West Virginia Chamber of Commerce recognized the company as a Five Diamond Employer in 2016, highlighting its exemplary employee policies, opportunities for continuing education, and community service participation.
As a robust financial institution, City Holding Co plays a significant role in the banking industry, providing comprehensive financial solutions that are vital for the economic growth and stability of the regions it serves.
For the latest updates and developments regarding City Holding Co, including recent news and performance metrics, please refer to the latest announcements and financial reports.
City Holding Company (NASDAQ:CHCO) reported Q3 2024 net income of $29.8 million with diluted earnings of $2.02 per share, achieving a return on assets of 1.87% and return on tangible equity of 20.9%. Net interest income increased by $1.0 million (1.8%) to $55.6 million. The company's nonperforming assets ratio increased to 0.39%, with total past due loans at 0.27%. A notable $2.0 million charge-off was recorded for a movie theater loan. Non-interest income grew to $20.3 million, while non-interest expenses increased by 7.5% to $37.6 million. The company maintains strong capitalization with $581 million in tangible equity and announced a 10% increase in quarterly dividend to $0.79 per share.
City Holding Company (NASDAQ: CHCO), a $6.3 billion bank holding company based in Charleston, has declared a dividend of 79 cents per common share for shareholders of record as of October 15, 2024, payable on October 31, 2024. This represents a 10% increase from the previous quarter's dividend of 71.5 cents per share.
President and CEO Charles (Skip) Hageboeck stated that this decision reflects the company's commitment to returning value to shareholders. The increased dividend, now $3.16 on an annualized basis, is based on the company's strong capital and liquidity position, financial performance in 2024, and confidence in sustaining this performance. City Holding Company is the parent of City National Bank of West Virginia, which operates 97 branches across four states.
City Holding Company (NASDAQ: CHCO) has appointed Major General (retired) James A. Hoyer to its Board of Directors, effective immediately. This appointment increases the board size from 13 to 14 members. Hoyer, who will stand for election at the April 2025 annual meeting, is expected to be recommended as a Class II director with a term expiring in 2028.
Hoyer brings extensive leadership and risk management experience, having served as The Adjutant General for West Virginia from 2011 to 2021. He currently serves as Vice President for Economic Innovation at West Virginia University and holds advisory roles in civil-military innovation and energy sectors. City Holding Company, headquartered in Charleston, WV, is a $6.3 billion bank holding company and parent of City National Bank of West Virginia, operating 97 branches across four states.
City Holding Company (NASDAQ:CHCO) reported quarterly net income of $29.1 million and diluted earnings of $1.96 per share for Q2 2024. The company achieved a return on assets of 1.85% and a return on tangible equity of 22.2%. Net interest income increased slightly to $54.6 million, while the net interest margin decreased to 3.87%. The ratio of nonperforming assets to total loans improved to 0.25%. Non-interest income decreased by 9.9% to $18.6 million, while non-interest expenses increased by 5.8% to $36.8 million. Loans grew by 0.5% to $4.11 billion, and deposits increased by $11.5 million. The company maintains strong capitalization with a tangible equity ratio of 8.5% and approved a quarterly cash dividend of $0.715 per share.
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