Welcome to our dedicated page for City Holding Co news (Ticker: CHCO), a resource for investors and traders seeking the latest updates and insights on City Holding Co stock.
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 a quarterly net income of $21.3 million, translating to diluted earnings of $1.41 per share for Q1 2022. However, net interest income fell by 6.7% to $37.9 million, largely due to a decrease in commercial loan yields. The credit quality remained stable, with nonperforming assets slightly decreasing to 0.18% of total loans. Non-interest income rose by 10.8% year-over-year, driven by service charges. The company's tangible equity ratio decreased from 9.6% to 8.8%, but remains well-capitalized above regulatory requirements.
City Holding Company (NASDAQ:CHCO) reported net income of $88.1 million and record diluted earnings of $5.66 per share for the year ended December 31, 2021. Net interest income increased slightly to $155.6 million, but a decline in net interest margin from 3.16% to 2.89% raised concerns. Non-interest income fell to $69.6 million from $82.7 million, largely due to a one-time gain in 2020. However, credit quality improved with a decrease in nonperforming assets to 0.21% of total loans. The company also announced a 3.45% dividend increase, reflecting ongoing shareholder returns.
City Holding Company (NASDAQ: CHCO) announced a dividend increase to 60 cents per common share, up from 58 cents, representing a 3.45% rise. This dividend will be payable on January 31, 2022, to shareholders recorded as of January 14, 2022. The annualized dividend totals $2.40, with a projected payout ratio around 52% based on an estimated earnings of $4.96 per share for 2022. City has returned approximately 76% of its earnings to shareholders in the past five years.
City Holding Company (CHCO) reported a net income of $22.7 million for Q3 2021, equating to diluted earnings of $1.47 per share. Year-to-date, the company achieved net income of $64.7 million or $4.13 per share. Key metrics include a return on assets of 1.53% and a return on tangible equity of 15.7%. The firm experienced growth in commercial loans and net interest income, which rose to $39.5 million, attributed to PPP loan fees. Nonperforming assets decreased to $9 million, showcasing improved asset quality. A quarterly dividend of $0.58 per share was announced, payable on October 29, 2021.
City Holding Company (NASDAQ: CHCO) announced the appointment of Dr. Javier A. Reyes to its Board of Directors following the retirement of Jay C. Goldman. Effective immediately, Dr. Reyes will stand for shareholder election in April 2022, increasing the board size to 13. Dr. Reyes, currently the Provost at the University of Illinois Chicago, has an extensive background in economics and investment banking, aiming to bring strategic insights to City Holding as it pursues its business goals.
City Holding Company (NASDAQ:CHCO) reported a quarterly net income of $22.1 million and diluted earnings of $1.41 per share for Q2 2021. The company achieved a return on assets of 1.49% and return on tangible equity of 15.2%. Notably, net interest income rose by $0.4 million from Q1 2021, while noninterest income surged 19.3% year-over-year. The company also released $2.0 million from its allowance for credit losses, reflecting improved economic conditions. A quarterly cash dividend of $0.58 per share was approved, payable on July 30, 2021.
City Holding Company (NASDAQ:CHCO), with a market value of $5.9 billion, reported a quarterly net income of $19.8 million and diluted earnings of $1.25 per share for Q1 2021. Despite the economic recovery post-COVID-19, net interest income fell by $0.7 million, attributed to lower loan yields and average loan balances. The total loan portfolio decreased to $3.55 billion, while deposit balances rose by $152.5 million, supported by stimulus payments. Credit quality remains strong, with only a slight increase in nonperforming assets.
City Holding Company (NASDAQ:CHCO) has authorized a new share buyback program, allowing the repurchase of up to 1,000,000 common shares, equivalent to about 6% of outstanding shares. This decision reflects management's strategy to enhance shareholder value while maintaining robust capital levels. The previous buyback plan from February 2019 has been rescinded, with 908,701 shares repurchased by March 31, 2021. As of that date, the company remains well-capitalized, supported by strong earnings.
City Holding Company (NASDAQ:CHCO) reported a record net income of $89.6 million and diluted earnings of $5.55 per share for the year ending December 31, 2020. Despite challenges from COVID-19, total deposits rose by $576 million, a 14.1% increase. However, the net interest margin fell to 3.16% and net interest income decreased by $6.8 million. Notably, asset quality improved with nonperforming assets decreasing from $16.4 million to $13.9 million.
City Holding Company (NASDAQ: CHCO) announced a dividend increase to 58 cents per share for shareholders of record as of January 15, 2021, payable on January 29, 2021. This represents a 1.75% increase from the previous quarter's dividend. The annualized dividend now stands at $2.32. CEO Charles Hageboeck highlighted the company's strong capital and liquidity position and its commitment to shareholder value, with a projected dividend payout ratio of 55% based on an estimated earnings of $4.02 per share for 2021.
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