$CHCO

CITY HOLDING CO

CIK:0000726854|SEC Filings

Consolidated Statements Of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
Consolidated Statements Of Income (Unaudited) - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Interest and fees on loans	$ 64,584,000	$ 62,588,000	$ 128,255,000	$ 123,505,000
Interest and dividends on investment securities:
Taxable	12,920,000	15,347,000	26,049,000	29,292,000
Tax-exempt	1,031,000	712,000	2,057,000	1,436,000
Interest on deposits in depository institutions	1,676,000	1,644,000	2,618,000	3,446,000
Total Interest Income	80,211,000	80,291,000	158,979,000	157,679,000
Interest Expense
Interest on deposits	14,924,000	16,492,000	29,680,000	33,345,000
Interest on customer repurchase agreements	2,959,000	3,307,000	5,803,000	6,476,000
Interest on FHLB advances	1,569,000	1,568,000	3,120,000	3,120,000
Total Interest Expense	19,452,000	21,367,000	38,603,000	42,941,000
Net Interest Income	60,759,000	58,924,000	120,376,000	114,738,000
Provision for (Recovery of) credit losses	436,000	(1,909,000)	1,049,000	(1,787,000)
Net Interest Income After Provision for (Recovery of) Credit Losses	60,323,000	60,833,000	119,327,000	116,525,000
Non-Interest Income
Gains on sale of investment securities, net	0	150,000	0	150,000
Unrealized gains (losses) recognized on equity securities still held, net	58,000	(263,000)	65,000	(268,000)
Bank owned life insurance	886,000	942,000	1,865,000	2,095,000
Other income	874,000	894,000	1,921,000	1,623,000
Total Non-Interest Income	20,764,000	19,523,000	40,764,000	38,621,000
Non-Interest Expense
Salaries and employee benefits	20,455,000	19,995,000	40,638,000	39,189,000
Occupancy related expense	2,428,000	2,316,000	5,060,000	4,898,000
Equipment and software related expense	3,746,000	3,554,000	7,411,000	7,024,000
Bankcard expenses	2,147,000	2,203,000	4,266,000	4,418,000
Taxes, Miscellaneous	2,438,000	2,327,000	5,119,000	4,589,000
Advertising	1,016,000	964,000	1,900,000	1,837,000
FDIC insurance expense	772,000	756,000	1,577,000	1,532,000
Legal and professional fees	612,000	651,000	1,165,000	1,233,000
Other expenses	6,153,000	6,429,000	12,373,000	12,348,000
Total Non-Interest Expense	39,767,000	39,195,000	79,509,000	77,068,000
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	41,320,000	41,161,000	80,582,000	78,078,000
Income tax expense	8,022,000	7,774,000	15,549,000	14,349,000
Net Income Available to Common Shareholders	$ 33,298,000	$ 33,387,000	$ 65,033,000	$ 63,729,000
Earnings Per Share [Abstract]
Basic earnings per common share (in dollars per share)	$ 2.35	$ 2.29	$ 4.55	$ 4.35
Diluted earnings per common share (in dollars per share)	$ 2.35	$ 2.29	$ 4.55	$ 4.35
Retained Earnings
Non-Interest Expense
Net Income Available to Common Shareholders	$ 33,298,000	$ 33,387,000	$ 65,033,000	$ 63,729,000
Service charges
Non-Interest Income
Revenue from contract with customer	7,947,000	7,551,000	15,708,000	15,063,000
Bankcard revenue
Non-Interest Income
Revenue from contract with customer	7,548,000	7,233,000	14,437,000	14,040,000
Wealth and investment management fee income
Non-Interest Income
Revenue from contract with customer	$ 3,451,000	$ 3,016,000	$ 6,768,000	$ 5,918,000

Consolidated Statements Of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income	$ 65,033,000	$ 63,729,000
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization, net	2,470,000	4,614,000
Provision for (Recovery of) credit losses	1,049,000	(1,787,000)
Depreciation of premises and equipment	2,245,000	2,096,000
Deferred income tax expense	49,000	1,437,000
Net periodic pension benefit	(84,000)	(48,000)
Gains on sale of investment securities, net	65,000	(118,000)
Stock-compensation expense	2,498,000	1,505,000
Excess tax expense from stock-compensation	314,000	473,000
Increase in value of bank-owned life insurance	(1,656,000)	(2,095,000)
Loans originated for sale	(8,510,000)	(9,692,000)
Proceeds from the sale of loans originated for sale	9,186,000	8,807,000
Gain on sale of loans	(133,000)	(157,000)
Change in accrued interest receivable	(582,000)	(1,004,000)
Change in other assets	(3,904,000)	(11,832,000)
Change in other liabilities	2,742,000	3,490,000
Net Cash Provided by Operating Activities	70,652,000	59,654,000
Investing Activities
Net decrease (increase) in loans	1,584,000	(61,903,000)
Purchases	97,394,000	225,845,000
Proceeds on sales of available for sale securities	0	14,882,000
Proceeds from maturities and calls	117,849,000	98,545,000
Purchases	(313,000)	(257,000)
Proceeds from sales	98,000	24,000
Purchases of premises and equipment	(1,549,000)	(641,000)
Proceeds from the disposals of premises and equipment	1,247,000	46,000
Payments for low income housing tax credits	(2,519,000)	(4,164,000)
Net Cash Provided by (Utilized For) Investing Activities	19,003,000	(179,313,000)
Financing Activities
Net increase in non-interest-bearing deposits	8,072,000	38,798,000
Net increase in interest-bearing deposits	31,094,000	65,882,000
Net increase in customer repurchase agreements	9,877,000	14,179,000
Purchases of treasury stock	(38,137,000)	(28,893,000)
Lease payments	(353,000)	(371,000)
Dividends paid	(24,925,000)	(23,201,000)
Net Cash (Utilized For) Provided By Financing Activities	(14,372,000)	66,394,000
Increase (Decrease) in Cash and Cash Equivalents	75,283,000	(53,265,000)
Cash and cash equivalents at beginning of period	191,919,000	225,389,000
Cash and Cash Equivalents at End of Period	$ 267,202,000	$ 172,124,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 141,519	$ 152,111
Interest-bearing deposits in depository institutions	125,683	39,808
Cash and Cash Equivalents	267,202	191,919
Investment securities available for sale, at fair value (amortized cost $1,583,311 and $1,602,721, net of allowance for credit losses of $0 at June 30, 2026 and December 31, 2025, respectively)	1,476,725	1,503,358
Other securities	29,755	29,474
Total Investment Securities	1,506,480	1,532,832
Gross loans	4,501,774	4,503,331
Allowance for credit losses	(19,839)	(19,329)
Net Loans	4,481,935	4,484,002
Bank owned life insurance	125,860	124,370
Premises and equipment, net	67,190	69,133
Accrued interest receivable	21,300	20,718
Deferred tax assets, net	31,603	30,005
Goodwill and other intangible assets, net	156,895	157,871
Other assets	115,530	111,168
Total Assets	6,773,995	6,722,018
Deposits:
Noninterest-bearing	1,421,693	1,413,621
Interest-bearing:
Demand deposits	1,321,556	1,339,435
Savings deposits	1,288,260	1,244,571
Time deposits	1,308,641	1,303,361
Total Deposits	5,340,150	5,300,988
Customer repurchase agreements	377,551	367,674
FHLB advances	150,000	150,000
Other liabilities	97,345	93,676
Total Liabilities	5,965,046	5,912,338
Commitments and contingencies - see Note I
Shareholders’ Equity
Preferred stock, par value $25 per share: 500,000 shares authorized; none issued	0	0
Common stock, par value $2.50 per share: 50,000,000 shares authorized; 19,047,548 shares issued at June 30, 2026 and December 31, 2025, less 4,995,538 and 4,693,613 shares in treasury, respectively	47,619	47,619
Capital surplus	174,805	174,598
Retained earnings	975,454	935,046
Treasury Stock	(306,813)	(270,967)
Accumulated other comprehensive loss:
Unrealized loss on securities available-for-sale	(81,241)	(75,741)
Underfunded pension liability	(875)	(875)
Total Accumulated Other Comprehensive Loss	(82,116)	(76,616)
Total Shareholders’ Equity	808,949	809,680
Total Liabilities and Shareholders’ Equity	$ 6,773,995	$ 6,722,018