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  4. [8-K] CITY HOLDING CO Reports Material Event

City Holding Company (NASDAQ: CHCO) earns $33.3M, EPS $2.35

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

City Holding Company reported net income of $33.3 million and diluted EPS of $2.35 for the quarter ended June 30, 2026, with a return on assets of 1.98% and a return on tangible equity of 20.7%.

Net interest income on a fully taxable equivalent basis rose to $61.0 million from $59.9 million in the prior quarter, while the net interest margin held at 3.97%. Non-interest income was $20.8 million, up from $19.5 million a year earlier, driven by higher wealth and investment management fees, service charges, and bankcard revenue. Non-interest expenses increased modestly to $39.8 million, largely from higher salaries and equipment and software-related costs.

Credit quality remained strong: nonperforming assets fell to $10.6 million, or 0.24% of loans and other real estate owned, and net recoveries were recorded. Loans totaled $4.50 billion and deposits $5.34 billion at June 30, 2026. The company declared a quarterly dividend of $0.87 per share and repurchased 59,156 shares at a weighted average price of $122.46 under its 2026 one-million-share buyback program, leaving capacity for approximately 926,000 additional repurchases. Regulatory capital ratios at both the holding company and bank levels were significantly above well-capitalized thresholds.

Positive

  • None.

Negative

  • None.

Filing Explained

The filing discloses $1.8 billion of contingency borrowing capacity, while June 30 results remain preliminary pending the Form 10-Q.

The July 22 Form 8-K reports a specified material event—the company’s second-quarter earnings release—and identifies the June 30 results as preliminary; structurally, it discloses funding capacity rather than completed new financing.

As of June 30, 2026, City National reported capacity to borrow an additional $1.8 billion through existing Federal Reserve and Federal Home Loan Bank facilities, while approximately $791 million of investment securities remained unpledged.

Those figures describe available borrowing capacity and collateral, not an amount the filing identifies as borrowed or received as proceeds.

The company says it must evaluate subsequent events through its June 30, 2026 Form 10-Q and may adjust the preliminary amounts if necessary.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income $33.3 million Net income available to common shareholders for the quarter ended June 30, 2026
Diluted EPS $2.35 Diluted earnings per common share for the quarter ended June 30, 2026
Return on average assets 1.98% Return on average assets for the quarter ended June 30, 2026
Net interest income (FTE) $61.0 million Fully taxable equivalent net interest income for the quarter ended June 30, 2026
Non-interest income $20.8 million Non-interest income in the second quarter of 2026
Loans outstanding $4.50 billion Gross loans at June 30, 2026
Nonperforming assets $10.6 million (0.24%) Nonperforming assets and ratio to total loans and other real estate owned at June 30, 2026
CET I capital ratio 17.06% Consolidated City Holding Company Common Equity Tier I ratio at June 30, 2026
return on tangible equity financial
"the Company achieved a return on assets of 1.98% and a return on tangible equity of 20.7%."
Return on tangible equity measures how much profit a company generates for common shareholders using the ‘‘hard’’ capital on its balance sheet—equity after removing intangible items like goodwill and patents. Investors use it to judge the firm’s core profitability and capital efficiency, because it shows profit per dollar of tangible, real assets; think of it as earnings earned on cash, buildings and machinery rather than on acquired goodwill.
net interest margin financial
"The Company’s reported net interest margin remained at 3.97% for both the first quarter of 2026 and for the second quarter of 2026."
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
nonperforming assets financial
"ratio of nonperforming assets to total loans and other real estate owned decreased from 0.27% ... to 0.24%."
Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.
allowance for credit losses financial
"analysis of the adequacy of the allowance for credit losses, the Company recorded a provision for credit losses of $0.4 million."
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Common Equity Tier I ratio financial
"City National’s Leverage Ratio was 9.7%, its Common Equity Tier I ratio was 15.0%, its Tier I Capital ratio was 15.0%."
Common Equity Tier I ratio measures the core capital a bank holds — mainly common stock and retained earnings — relative to the size and riskiness of its assets, expressed as a percentage. Think of it as a bank’s shock-absorber: a higher ratio means a bigger cushion to absorb losses, which matters to investors because it indicates financial strength, lower likelihood of forced capital raises or dividend cuts, and reduced regulatory risk.
efficiency ratio financial
"Efficiency Ratio | 48.1 % | 48.9 % | 48.2 % | 46.0 % | 49.0 %"
A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.
Net income $33.3 million Increased from $31.7 million in the quarter ended March 31, 2026
Diluted EPS $2.35 Increased from $2.20 in the quarter ended March 31, 2026
Net interest income (FTE) $61.0 million Up from $59.9 million in the quarter ended March 31, 2026, a 1.9% increase
Return on average assets 1.98% Rose from 1.92% in the quarter ended March 31, 2026
Return on average tangible equity 20.7% Increased from 19.3% in the quarter ended March 31, 2026
Non-interest income $20.8 million Increased from $19.5 million in the second quarter of 2025

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FAQ

What were City Holding Company (CHCO)'s earnings for Q2 2026?
City Holding Company reported net income of $33.3 million and diluted EPS of $2.35 for Q2 2026. Profitability was strong, with a 1.98% return on assets and a 20.7% return on tangible equity for the quarter ended June 30, 2026.

How did CHCO's net interest income and margin perform in Q2 2026?
Net interest income on a fully taxable equivalent basis rose to $61.0 million from $59.9 million in Q1 2026. The net interest margin remained steady at 3.97% in both quarters, reflecting stable spreads on the company’s interest-earning assets and interest-bearing liabilities.

What was the credit quality of City Holding Company (CHCO) at June 30, 2026?
Nonperforming assets were $10.6 million, or 0.24% of total loans and other real estate owned at June 30, 2026. Total past due loans were $8.6 million, representing 0.19% of loans outstanding, and the quarter included net recoveries on previously charged-off loans.

What are CHCO's capital and liquidity positions as of June 30, 2026?
City reported a tangible equity ratio of 9.9% and City National Bank’s Common Equity Tier I ratio of 15.0%. The bank had capacity to borrow an additional $1.8 billion from existing Federal Reserve and FHLB facilities, plus $791 million of unpledged investment securities.

Did City Holding Company (CHCO) return capital to shareholders in Q2 2026?
The board approved a quarterly cash dividend of $0.87 per share, payable July 31, 2026. The company also repurchased 59,156 shares at an average price of $122.46, with authorization remaining to repurchase about 926,000 additional shares under its 2026 program.

How did CHCO's non-interest income and expenses change in Q2 2026?
Non-interest income increased to $20.8 million from $19.5 million in Q2 2025, led by higher wealth management fees, service charges, and bankcard revenue. Non-interest expenses rose slightly to $39.8 million, mainly due to higher salaries, employee benefits, and equipment and software-related expenses.
0000726854false00007268542026-07-222026-07-22

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 
Date of Report (Date of Earliest Event Reported): July 22, 2026

a92019chcodivimage1a02.jpg
CITY HOLDING COMPANY
(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 0-11733

West Virginia55-0619957
(State or Other Jurisdiction of(I.R.S. Employer
Incorporation or Organization)Identification No.)
 
25 Gatewater Road, Cross Lanes, West Virginia 25313
(Address of Principal Executive Offices, Including Zip Code)
 
304-769-1100
(Registrant’s Telephone Number, Including Area Code)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
symbol(s)		Name of each exchange on which registered
Common Stock $2.50 Par ValueCHCONASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

-1-


Section 2 - Financial Information

Item 2.02 Results of Operations and Financial Condition.

On July 22, 2026, City Holding Company ("the Company") issued a news release, attached as Exhibit 99.1, announcing the Company's earnings results for the second quarter ended June 30, 2026. Furnished as Exhibit 99.1 and incorporated herein by reference is the news release issued by the Company.


Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits
99.1
News Release issued July 22, 2026


Signatures

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.

Dated: July 22, 2026
City Holding Company
By:/s/ David L. Bumgarner
David L. Bumgarner
Senior Executive Vice President & Chief Financial Officer

-2-








NEWS RELEASE

For Immediate Release
July 22, 2026

For Further Information Contact:
David L. Bumgarner, Senior Executive Vice President and Chief Financial Officer
(304) 769-1169

City Holding Company Announces Quarterly Results

Charleston, West Virginia – City Holding Company (“Company” or “City”) (NASDAQ:CHCO), a $6.8 billion bank holding company headquartered in Charleston, West Virginia, today announced net income of $33.3 million and diluted earnings of $2.35 per share for the quarter ended June 30, 2026. For the quarter ended June 30, 2026, the Company achieved a return on assets of 1.98% and a return on tangible equity of 20.7%.

Net Interest Income

The Company’s net interest income increased approximately $1.2 million, or 1.9%, from $59.6 million during the first quarter of 2026 to $60.8 million during the second quarter of 2026. The Company’s tax equivalent net interest income increased approximately $1.1 million, or 1.9%, from $59.9 million for the first quarter of 2026 to $61.0 million for the second quarter of 2026. This increase was primarily due to an increase in the yield on loans (2 basis points) and an increase in the average balances of deposits in depository institutions ($78.1 million) which increased net interest income by $0.9 million and $0.7 million, respectively. These increases were partially offset by an increase in the average balances of interest-bearing liabilities ($53.7 million) which decreased net interest income by $0.3 million. The Company’s reported net interest margin remained at 3.97% for both the first quarter of 2026 and for the second quarter of 2026.

Credit Quality

The Company’s ratio of nonperforming assets to total loans and other real estate owned decreased from 0.27%, or $12.2 million, at March 31, 2026 to 0.24%, or $10.6 million, at June 30, 2026. Total past due loans increased modestly from $8.5 million, or 0.19% of total loans outstanding, at March 31, 2026, to $8.6 million, or 0.19% of total loans outstanding, at June 30, 2026.

As a result of the Company’s quarterly analysis of the adequacy of the allowance for credit losses, the Company recorded a provision for credit losses of $0.4 million in the second quarter of 2026, compared to a recovery of credit losses of $1.9 million for the comparable period in 2025, and a provision for credit losses of $0.6 million for the first quarter of 2026. The provision for credit losses in the second quarter of 2026 was primarily related to the downgrade of a commercial real estate loan and a marginal increase in the historical loss rate for commercial and industrial loans during the quarter ended June 30, 2026, which were partially offset by net recoveries of $0.2 million during the quarter ended June 30, 2026.



Non-interest Income

Non-interest income increased $1.2 million from $19.5 million in the second quarter of 2025 to $20.8 million in the second quarter of 2026. During the second quarter of 2026, the Company reported $0.1 million of unrealized fair value gains on the Company’s equity securities as compared to $0.2 million of realized investment gains and $0.3 million of unrealized fair value losses on the Company’s equity securities during the second quarter of 2025.

Exclusive of these items, non-interest income increased $1.1 million, or 5.4%, from $19.6 million for the second quarter of 2025 to $20.7 million for the second quarter of 2026. This increase was due to an increase of $0.4 million, or 14.4%, in wealth and investment management fee income, an increase of $0.4 million, or 5.2%, in service charges, and a $0.3 million, or 4.4%, increase in bankcard revenue.

Non-interest Expenses

Non-interest expenses increased $0.6 million, or 1.5%, from $39.2 million in the second quarter of 2025 to $39.8 million in the second quarter of 2026. This increase was largely due to an increase in salaries and employee benefit expenses ($0.5 million) and equipment and software related expenses ($0.2 million).

Balance Sheet Trends

Loans increased $10.2 million (0.2%) from March 31, 2026 to $4.50 billion at June 30, 2026. Commercial and industrial loans increased $12.5 million (2.8%) and home equity loans increased $6.3 million (2.8%) during the quarter ended June 30, 2026. These increases were partially offset by decreases in residential real estate loans of $6.9 million and consumer loans of $3.1 million.

Period-end deposit balances declined $3.5 million from March 31, 2026, to June 30, 2026. Total average depository balances increased $59.5 million (1.1%) from the quarter ended March 31, 2026 to the quarter ended June 30, 2026 to $5.33 billion. Average noninterest-bearing demand balances increased $30.3 million and average balances of savings deposits balances increased $28.9 million.

Income Tax Expense

The Company’s effective income tax rate for the second quarter of 2026 was 19.4%, compared to 19.2% for the year ended December 31, 2025, and 18.9% for the quarter ended June 30, 2025.

Capitalization and Liquidity

The Company’s loan to deposit ratio was 84.3% and the loan to asset ratio was 66.5% at June 30, 2026. The Company maintained investment securities totaling 22.2% of assets as of the same date. The Company’s deposit mix is weighted heavily toward checking and savings accounts, which fund 59.5% of assets at June 30, 2026. Time deposits funded 19.3% of assets at June 30, 2026, with only 14.9% of time deposits having balances of more than $250,000, reflecting the core retail orientation of the Company.

City Holding Company is the parent company of City National Bank of West Virginia (“City National”). City National has borrowing facilities with the Federal Reserve Bank and the Federal Home Loan Bank that can be accessed as necessary to fund operations and to provide contingency funding. These borrowing facilities are collateralized by various loans held on City National’s balance sheet. As of June 30, 2026, City National had the capacity to borrow an additional $1.8 billion from these existing borrowing facilities. In addition, approximately $715 million of City National’s investment securities


were pledged to collateralize customer repurchase agreements and various deposit accounts, leaving approximately $791 million of City National’s investment securities unpledged at June 30, 2026.

The Company continues to be strongly capitalized with tangible equity of $652 million at June 30, 2026. The Company’s tangible equity ratio remained at 9.9% at both December 31, 2025 and June 30, 2026. At June 30, 2026, City National’s Leverage Ratio was 9.7%, its Common Equity Tier I ratio was 15.0%, its Tier I Capital ratio was 15.0%, and its Total Risk-Based Capital ratio was 15.5%. These regulatory capital ratios are significantly above levels required to be considered “well capitalized,” which is the highest possible regulatory designation.

On May 27, 2026, the Board of Directors of the Company approved a quarterly cash dividend of $0.87 per share, payable July 31, 2026, to shareholders of record as of July 15, 2026. During the quarter ended June 30, 2026, the Company repurchased 59,156 common shares at a weighted average price of $122.46 per share as part of a one million share repurchase plan authorized by the Board of Directors in March 2026. As of June 30, 2026, the Company could repurchase approximately 926,000 shares under the current plan, which was approved by the Board of Directors on March 25, 2026 and authorizes the Company to buy back up to 1,000,000 shares of its common stock (approximately 7% of outstanding shares) in open market transactions at prices that are accretive to the earnings per share of continuing shareholders (the "2026 Program").

City National operates 95 branches across West Virginia, Kentucky, Virginia, and Ohio.

Forward-Looking Information

This news release contains certain forward-looking statements that are included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements express only management’s beliefs regarding future results or events and are subject to inherent uncertainty, risks, and changes in circumstances, many of which are outside of management’s control. Uncertainty, risks, changes in circumstances and other factors could cause the Company’s actual results to differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ from those discussed in such forward-looking statements include, but are not limited to those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 under “ITEM 1A Risk Factors” and the following: (1) general economic conditions, especially in the communities and markets in which we conduct our business; (2) credit risk, including risk that negative credit quality trends may lead to a deterioration of asset quality, risk that our allowance for credit losses may not be sufficient to absorb actual losses in our loan portfolio, and risk from concentrations in our loan portfolio; (3) changes in the real estate market, including the value of collateral securing portions of our loan portfolio; (4) changes in the interest rate environment; (5) operational risk, including cybersecurity risk and risk of fraud, data processing system failures, and network breaches; (6) changes in technology and increased competition, including competition from non-bank financial institutions or financial technology companies; (7) changes in consumer preferences, spending and borrowing habits, demand for our products and services, and customers’ performance and creditworthiness; (8) difficulty growing loan and deposit balances; (9) our ability to effectively execute our business plan, including with respect to future acquisitions; (10) changes in regulations, laws, taxes, government policies, monetary policies and accounting policies affecting bank holding companies and their subsidiaries; (11) deterioration in the financial condition of the U.S. banking system may impact the valuations of investments the Company has made in the securities of other financial institutions; (12) regulatory enforcement actions and adverse legal actions; (13) difficulty attracting and retaining key employees; and (14) other economic, competitive, technological, operational, governmental, regulatory, and market factors affecting our operations. Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Company and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date


such statements are made. Further, the Company is required to evaluate subsequent events through the filing of its June 30, 2026 Form 10-Q. The Company will continue to evaluate the impact of any subsequent events on the preliminary June 30, 2026 results and will adjust the amounts if necessary.


CITY HOLDING COMPANY AND SUBSIDIARIES
Financial Highlights
(Unaudited)
Three Months EndedSix Months Ended
June 30,March 31,December 31,September 30,June 30,June 30,June 30,
2026202620252025202520262025
Earnings
Net Interest Income (fully taxable equivalent)$61,034 $59,890 $60,825 $61,294 $59,116 $120,924 $115,121 
Net Income available to common shareholders33,298 31,735 31,568 35,188 33,387 65,033 63,729 
Per Share Data
Earnings per share available to common shareholders:
Basic$2.35 $2.20 $2.18 $2.41 $2.29 $4.55 $4.35 
Diluted2.35 2.20 2.18 2.41 2.29 4.55 4.35 
Weighted average number of shares (in thousands):
Basic14,046 14,270 14,359 14,457 14,466 14,151 14,541 
Diluted14,062 14,274 14,366 14,463 14,471 14,169 14,551 
Period-end number of shares (in thousands)14,052 14,111 14,354 14,495 14,495 14,052 14,495 
Cash dividends declared$0.87 $0.87 $0.87 $0.87 $0.79 $1.74 $1.58 
Book value per share (period-end)57.57 56.29 56.41 55.12 52.72 57.57 52.72 
Tangible book value per share (period-end)46.40 45.14 45.41 44.19 41.76 46.40 41.76 
Market data:
High closing price$134.02 $127.84 $126.71 $133.58 $123.42 $134.02 $123.42 
Low closing price120.48 116.62 117.04 118.89 108.93 116.62 108.93 
Period-end closing price132.64 119.52 119.20 123.87 122.42 132.64 122.42 
Average daily volume (in thousands)116 111 90 112 76 113 69 
Treasury share activity:
Treasury shares repurchased (in thousands)59 262 141 — 175 321 255 
Average treasury share repurchase price$122.46 $117.79 $119.12 $— $111.09 $118.65 $113.09 
Key Ratios (percent)
Return on average assets1.98 %1.92 %1.86 %2.11 %2.03 %1.95 %1.96 %
Return on average tangible equity20.7 %19.3 %19.2 %22.5 %22.7 %20.0 %21.7 %
Yield on interest earning assets5.24 %5.24 %5.29 %5.43 %5.38 %5.24 %5.36 %
Cost of interest bearing liabilities1.75 %1.76 %1.87 %1.91 %1.95 %1.76 %1.99 %


Net Interest Margin3.97 %3.97 %3.94 %4.04 %3.95 %3.97 %3.90 %
Non-interest income as a percent of total revenue25.4 %24.8 %24.9 %24.7 %24.7 %25.3 %25.1 %
Efficiency Ratio48.1 %48.9 %48.2 %46.0 %49.0 %48.6 %49.4 %
Price/Earnings Ratio (a)14.11 13.56 13.68 12.84 13.38 14.56 14.09 
Capital (period-end)
Average Shareholders' Equity to Average Assets11.87 %12.32 %12.04 %11.81 %11.37 %
Tangible equity to tangible assets9.85 %9.65 %9.93 %9.84 %9.40 %
Consolidated City Holding Company risk based capital ratios (b):
CET I17.06 %16.87 %16.94 %17.19 %16.78 %
Tier I17.06 %16.87 %16.94 %17.19 %16.78 %
Total17.53 %17.33 %17.40 %17.66 %17.26 %
Leverage10.97 %10.86 %10.96 %11.06 %10.70 %
City National Bank risk based capital ratios (b):
CET I15.01 %14.35 %13.42 %15.83 %15.10 %
Tier I15.01 %14.35 %13.42 %15.83 %15.10 %
Total15.48 %14.81 %13.88 %16.30 %15.58 %
Leverage9.65 %9.23 %8.68 %10.18 %9.63 %
Other (period-end)
Branches95 96 96 96 96 
FTE924 928 934 934 934 
Assets per FTE (in thousands)$7,333 $7,284 $7,201 $7,138 $7,064 
Deposits per FTE (in thousands)5,781 5,757 5,679 5,629 5,619 
(a) The price/earnings ratio is computed based on annualized quarterly earnings.
(b) June 30, 2026 risk-based capital ratios are estimated.




CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited) ($ in 000s, except per share data)
Three Months EndedSix Months Ended
June 30,March 31,December 31,September 30,June 30,June 30,June 30,
2026202620252025202520262025
Interest Income
Interest and fees on loans$64,584 $63,671 $64,376 $64,606 $62,588 $128,255 $123,505 
Interest on investment securities:
Taxable12,920 13,129 14,657 15,947 15,347 26,049 29,292 
Tax-exempt1,031 1,027 1,014 708 712 2,057 1,436 
Interest on deposits in depository institutions1,676 942 1,400 829 1,644 2,618 3,446 
Total Interest Income80,211 78,769 81,447 82,090 80,291 158,979 157,679 
Interest Expense
Interest on deposits14,924 14,756 15,811 16,201 16,492 29,680 33,345 
Interest on customer repurchase agreements2,959 2,844 3,493 3,196 3,307 5,803 6,476 
Interest on FHLB advances1,569 1,552 1,586 1,586 1,568 3,120 3,120 
Total Interest Expense19,452 19,152 20,890 20,983 21,367 38,603 42,941 
Net Interest Income60,759 59,617 60,557 61,107 58,924 120,376 114,738 
Provision for (recovery of) credit losses436 613 1,117 (528)(1,909)1,049 (1,787)
Net Interest Income After (Recovery of) Provision for Credit Losses60,323 59,004 59,440 61,635 60,833 119,327 116,525 
Non-Interest Income
Net gains on sale of investment securities— — — 37 150 — 150 
Unrealized gains (losses) recognized on securities still held58 7 (416)96 (263)65 (268)
Service charges7,947 7,761 8,057 8,221 7,551 15,708 15,063 
Bankcard revenue7,548 6,889 7,291 7,324 7,233 14,437 14,040 
Wealth and investment management fee income3,451 3,317 3,352 3,075 3,016 6,768 5,918 
Bank owned life insurance886 979 864 919 942 1,865 2,095 
Other income874 1,047 834 851 894 1,921 1,623 
Total Non-Interest Income20,764 20,000 19,982 20,523 19,523 40,764 38,621 
Non-Interest Expense
Salaries and employee benefits20,455 20,183 20,198 19,779 19,995 40,638 39,189 
Occupancy related expense2,428 2,632 2,316 2,340 2,316 5,060 4,898 
Equipment and software related expense3,746 3,665 3,812 3,618 3,554 7,411 7,024 
Bankcard expenses2,147 2,118 2,376 2,191 2,203 4,266 4,418 
Other tax-related matters2,438 2,681 2,312 2,104 2,327 5,119 4,589 
Advertising1,016 884 577 668 964 1,900 1,837 
FDIC insurance expense772 805 756 761 756 1,577 1,532 
Legal and professional fees612 553 552 549 651 1,165 1,233 
Other expenses6,153 6,221 6,982 6,302 6,429 12,373 12,348 


Total Non-Interest Expense39,767 39,742 39,881 38,312 39,195 79,509 77,068 
Income Before Income Taxes41,320 39,262 39,541 43,846 41,161 80,582 78,078 
Income tax expense8,022 7,527 7,973 8,658 7,774 15,549 14,349 
Net Income Available to Common Shareholders$33,298 $31,735 $31,568 $35,188 $33,387 $65,033 $63,729 
Distributed earnings allocated to common shareholders$12,125 $12,166 $12,372 $12,495 $11,346 $24,251 $22,691 
Undistributed earnings allocated to common shareholders20,931 19,284 18,903 22,370 21,735 40,255 40,497 
Net earnings allocated to common shareholders$33,056 $31,450 $31,275 $34,865 $33,081 $64,506 $63,188 
Average common shares outstanding14,046 14,270 14,359 14,457 14,466 14,151 14,541 
Shares for diluted earnings per share14,062 14,274 14,366 14,463 14,471 14,169 14,551 
Basic earnings per common share$2.35 $2.20 $2.18 $2.41 $2.29 $4.55 $4.35 
Diluted earnings per common share$2.35 $2.20 $2.18 $2.41 $2.29 $4.55 $4.35 



CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Balance Sheets
($ in 000s)
(Unaudited)(Unaudited)(Unaudited)(Unaudited)
June 30,March 31,December 31,September 30,June 30,
20262026202520252025
Assets
Cash and due from banks$141,519 $135,816 $152,111 $129,665 $145,876 
Interest-bearing deposits in depository institutions125,683 163,201 39,808 95,929 26,248 
Cash and cash equivalents267,202 299,017 191,919 225,594 172,124 
Investment securities available-for-sale, at fair value1,476,725 1,441,098 1,503,358 1,510,772 1,562,423 
Other securities29,755 29,462 29,474 29,878 29,768 
Total investment securities1,506,480 1,470,560 1,532,832 1,540,650 1,592,191 
Gross loans4,501,774 4,491,592 4,503,331 4,408,230 4,333,372 
Allowance for credit losses(19,839)(19,195)(19,329)(19,057)(19,101)
Net loans4,481,935 4,472,397 4,484,002 4,389,173 4,314,271 
Bank owned life insurance125,860 124,976 124,370 123,506 122,587 
Premises and equipment, net67,190 68,740 69,133 69,539 69,038 
Accrued interest receivable21,300 21,645 20,718 21,890 21,654 
Deferred tax assets, net31,603 31,652 30,005 32,159 33,994 
Goodwill and other intangible assets, net156,895 157,383 157,871 158,414 158,957 
Other assets115,530 113,899 111,168 106,707 113,321 
Total Assets$6,773,995 $6,760,269 $6,722,018 $6,667,632 $6,598,137 
Liabilities
Deposits:
Noninterest-bearing$1,421,693 $1,410,861 $1,413,621 $1,377,313 $1,383,247 
Interest-bearing:
Demand deposits1,321,556 1,345,723 1,339,435 1,338,872 1,333,858 
Savings deposits1,288,260 1,276,884 1,244,571 1,238,832 1,244,179 
Time deposits1,308,641 1,310,136 1,303,361 1,302,575 1,287,536 
Total deposits5,340,150 5,343,604 5,300,988 5,257,592 5,248,820 
Customer repurchase agreements377,551 374,825 367,674 369,012 339,834 
FHLB advances150,000 150,000 150,000 150,000 150,000 
Other liabilities97,345 97,450 93,676 92,085 95,268 
Total Liabilities$5,965,046 $5,965,879 $5,912,338 $5,868,689 $5,833,922 


Stockholders' Equity
Preferred stock— — — — — 
Common stock47,619 47,619 47,619 47,619 47,619 
Capital surplus174,805 173,130 174,598 173,733 172,853 
Retained earnings975,454 954,407 935,046 915,971 893,422 
Treasury stock(306,813)(299,503)(270,967)(254,153)(254,181)
Accumulated other comprehensive loss:
Unrealized loss on securities available-for-sale(81,241)(80,388)(75,741)(82,785)(94,056)
Underfunded pension liability(875)(875)(875)(1,442)(1,442)
Total Accumulated Other Comprehensive Loss(82,116)(81,263)(76,616)(84,227)(95,498)
Total Stockholders' Equity808,949 794,390 809,680 798,943 764,215 
Total Liabilities and Stockholders' Equity$6,773,995 $6,760,269 $6,722,018 $6,667,632 $6,598,137 
Regulatory Capital
Total CET 1 capital$736,703 $720,535 $730,453 $726,739 $702,729 
Total tier 1 capital736,703 720,535 730,453 726,739 702,729 
Total risk-based capital757,074 740,252 750,319 746,422 722,477 
Total risk-weighted assets4,318,183 4,270,400 4,312,112 4,226,712 4,186,844 




CITY HOLDING COMPANY AND SUBSIDIARIES
Loan Portfolio
(Unaudited) ($ in 000s)
June 30,March 31,December 31,September 30,June 30,
20262026202520252025
Commercial and industrial$454,122 $441,617 $453,975 $426,654 $409,317 
1-4 Family223,301 221,165 210,232 204,280 199,400 
Hotels396,079 395,857 398,608 397,338 380,496 
Multi-family231,946 227,687 237,424 233,678 221,970 
Non Residential Non-Owner Occupied765,358 772,778 767,580 728,625 740,104 
Non Residential Owner Occupied253,471 251,382 253,398 239,058 236,935 
Commercial real estate (1)
1,870,155 1,868,869 1,867,242 1,802,979 1,778,905 
Residential real estate (2)
1,906,534 1,913,389 1,910,060 1,909,791 1,884,449 
Home equity231,057 224,723 224,701 218,750 207,906 
Consumer39,906 42,994 47,353 50,056 52,795 
Gross Loans$4,501,774 $4,491,592 $4,503,331 $4,408,230 $4,333,372 
Construction loans included in:
(1) - Commercial real estate loans$43,363 $39,519 $35,781 $31,892 $28,781 
(2) - Residential real estate loans11,144 9,612 9,907 6,785 6,416 



CITY HOLDING COMPANY AND SUBSIDIARIES
Asset Quality Information
(Unaudited) ($ in 000s)

Three Months EndedSix Months Ended
June 30,March 31,December 31,September 30,June 30,June 30,June 30,
2026202620252025202520262025
Allowance for Loan Losses
Balance at beginning of period$19,195 $19,329 $19,057 $19,101 $20,956 $19,329 $21,133 
Charge-offs:
Commercial and industrial(115)(4)— (7)— (119)(30)
Commercial real estate(1)(856)(27)(2)— (857)(220)
Residential real estate(147)(134)(181)(160)(49)(281)(49)
Home equity(46)(62)(102)(55)(97)(108)(98)
Consumer(97)(71)(36)(9)(36)(168)(165)
Total charge-offs(406)(1,127)(346)(233)(182)(1,533)(562)
Recoveries:
Commercial and industrial70 5 (347)400 15 75 52 
Commercial real estate443 235 (144)202 51 678 81 
Residential real estate9 30 (29)35 49 39 50 
Home equity72 90 17 64 96 162 100 
Consumer20 20 4 16 25 40 34 
Total recoveries614 380 (499)717 236 994 317 
Net recoveries (charge-offs)208 (747)(845)484 54 (539)(245)
Provision for (recovery of) credit losses436 613 1,117 (528)(1,909)1,049 (1,787)
Balance at end of period$19,839 $19,195 $19,329 $19,057 $19,101 $19,839 $19,101 
Loans outstanding$4,501,774$4,491,592$4,503,331$4,408,230$4,333,372
Allowance as a percent of loans outstanding0.44 %0.43 %0.43 %0.43 %0.44 %
Allowance as a percent of non-performing loans196.4 %167.1 %138.9 %138.2 %135.8 %
Average loans outstanding$4,497,044 $4,491,591 $4,431,079 $4,373,773 $4,305,865 $4,494,331 $4,297,023 
Net (recoveries) charge-offs (annualized) as a percent of average loans outstanding(0.02)%0.07 %0.08 %(0.04)%(0.01)%0.02 %0.01 %






CITY HOLDING COMPANY AND SUBSIDIARIES
Asset Quality Information, Continued
(Unaudited) ($ in 000s)
June 30,March 31,December 31,September 30,June 30,
20262026202520252025
Nonaccrual Loans
Residential real estate$3,186 $4,274 $4,497 $2,624 $3,602 
Home equity132 313 308 498 283 
Commercial and industrial377 431 557 555 600 
Commercial real estate6,322 6,403 8,448 9,169 9,515 
Consumer— 2 — — — 
Total nonaccrual loans10,017 11,423 13,810 12,846 14,000 
Accruing loans past due 90 days or more82 64 109 946 63 
Total non-performing loans10,099 11,487 13,919 13,792 14,063 
Other real estate owned495 693 482 485 185 
Total Non-Performing Assets$10,594 $12,180 $14,401 $14,277 $14,248 
Non-performing assets as a percent of loans and other real estate owned0.24 %0.27 %0.32 %0.32 %0.33 %
Past Due Loans
Residential real estate$7,282 $6,440 $6,461 $5,635 $6,497 
Home equity711 840 772 651 788 
Commercial and industrial— 273 279 140 — 
Commercial real estate532 670 291 1,314 202 
Consumer119 267 308 221 163 
Total Past Due Loans$8,644 $8,490 $8,111 $7,961 $7,650 
Total past due loans as a percent of loans outstanding0.19 %0.19 %0.18 %0.18 %0.18 %





CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Average Balance Sheets, Yields, and Rates
(Unaudited) ($ in 000s)

Three Months Ended
June 30, 2026March 31, 2026June 30, 2025
AverageYield/AverageYield/AverageYield/
BalanceInterestRateBalanceInterestRateBalanceInterestRate
Assets:
Loan portfolio (1):
Residential real estate (2)
$2,138,621 $28,665 5.38 %$2,136 $28,309 5.38 %$2,068 $27,015 5.24 %
Commercial, financial, and agriculture (2)
2,316,904 35,138 6.08 %2,310,646 34,557 6.07 %2,184,357 34,640 6.36 %
Installment loans to individuals (2), (3)
41,519 781 7.54 %45,062 805 7.24 %53,426 935 7.02 %
Total loans4,497,044 64,584 5.76 %4,491,591 63,671 5.75 %4,305,865 62,590 5.83 %
Securities:
Taxable1,325,318 12,920 3.91 %1,357,848 13,129 3.92 %1,416,770 15,347 4.34 %
Tax-exempt (4)
157,007 1,305 3.33 %159,841 1,300 3.30 %128,165 902 2.82 %
Total securities1,482,325 14,225 3.85 %1,517,689 14,429 3.86 %1,544,935 16,249 4.22 %
Deposits in depository institutions181,432 1,676 3.71 %103,353 942 3.70 %147,662 1,644 4.47 %
Total interest-earning assets6,160,801 80,485 5.24 %6,112,633 79,042 5.24 %5,998,462 80,483 5.38 %
Cash and due from banks105,656 96,384 94,199 
Premises and equipment, net68,421 68,933 69,523 
Goodwill and intangible assets157,083 157,616 159,164 
Other assets289,904 283,283 295,632 
Less: Allowance for credit losses(19,797)(19,750)(21,459)
Total Assets$6,762,068 $6,699,099 $6,595,521 
Liabilities:
Interest-bearing demand deposits$1,324,095 $2,784 0.84 %$1,326.489 $2,774 0.85 %$1,343.532 $3,332 0.99 %
Savings deposits1,282,409 2,456 0.77 %1,253,525 2,342 0.76 %1,247,766 2,302 0.74 %
Time deposits (2)
1,309,954 9,683 2.96 %1,307,231 9,640 2.99 %1,283,806 10,858 3.39 %
Customer repurchase agreements392,974 2,959 3.02 %368,483 2,844 3.13 %359,626 3,307 3.69 %
FHLB advances150,000 1,569 4.20 %150,000 1,552 4.20 %150,000 1,568 4.19 %
Total interest-bearing liabilities4,459,432 19,451 1.75 %4,405,728 19,152 1.76 %4,384,730 21,367 1.95 %
Noninterest-bearing demand deposits1,410,471 1,380,136 1,363,481 
Other liabilities89,801 87,987 97,481 
Stockholders' equity802,364 825,248 749,830 
Total Liabilities and Stockholders' Equity$6,762,068 $6,699,099 $6,595,522 
Net Interest Income$61,034 $59,890 $59,116 
Net Yield on Earning Assets3.97 %3.97 %3.95 %
(1) For purposes of this table, non-accruing loans have been included in average balances and the following amounts (in thousands) of net loan fees have been included in interest income:
Loan fees, net$(106)$53 $6 


(2) Included in the above table are the following amounts (in thousands) for the accretion of the fair value adjustments related to the Company's acquisitions:
Residential real estate$46 $65 $57 
Commercial, financial, and agriculture529 440 $676 
Installment loans to individuals1 3 $— 
Time deposits2 2 $3 
Total$578 $510 $736 
(3) Includes the Company’s consumer and DDA overdrafts loan categories.
(4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%.



CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Average Balance Sheets, Yields, and Rates
(Unaudited) ($ in 000s)

Six Months Ended
June 30, 2026June 30, 2025
AverageYield/AverageYield/
BalanceInterestRateBalanceInterestRate
Assets:
Loan portfolio (1):
Residential real estate (2)
$2,136,121 $56,974 5.38 %$2,051,918 $53,137 5.22 %
Commercial, financial, and agriculture (2)
2,314,988 69,695 6.07 %2,189,980 68,516 6.31 %
Installment loans to individuals (2), (3)
43,222 1,586 7.40 %55,125 1,853 6.78 %
Total loans4,494,331 128,255 5.75 %4,297,023 123,506 5.80 %
Securities:
Taxable1,341,493 26,049 3.92 %1,367,994 29,292 4.32 %
Tax-exempt (4)
158,416 2,605 3.31 %131,348 1,817 2.79 %
Total securities1,499,909 28,653 3.85 %1,499,342 31,109 4.18 %
Deposits in depository institutions142,608 2,618 3.70 %155,820 3,446 4.46 %
Total interest-earning assets6,136,848 159,527 5.24 %5,952,185 158,061 5.36 %
Cash and due from banks101,046 96,508 
Premises and equipment, net68,676 69,907 
Goodwill and intangible assets157,348 159,438 
Other assets286,606 299,017 
Less: Allowance for loan losses(19,767)(21,500)
Total Assets$6,730,757 $6,555,555 
Liabilities:
Interest-bearing demand deposits$1,325,285 $5,558 0.85 %$1,339,633 $6,629 1.00 %
Savings deposits1,268,047 4,798 0.76 %1,242,470 4,573 0.74 %
Time deposits (2)
1,308,600 19,324 2.98 %1,274,536 22,142 3.50 %
Customer repurchase agreements380,796 5,803 3.07 %346,666 6,476 3.77 %
FHLB advances150,000 3,120 4.19 %150,000 3,120 4.19 %
Total interest-bearing liabilities4,432,728 38,603 1.76 %4,353,305 42,940 1.99 %
Noninterest-bearing demand deposits1,395,387 1,349,998 
Other liabilities88,899 100,872 
Stockholders' equity813,743 751,380 
Total Liabilities and Stockholders' Equity$6,730,757 $6,555,555 
Net Interest Income$120,924 $115,121 
Net Yield on Earning Assets3.97 %3.90 %
(1) For purposes of this table, non-accruing loans have been included in average balances and the following amounts (in thousands) of net loan fees have been included in interest income:
Loan fees, net$(53)$207 


(2) Included in the above table are the following amounts (in thousands) for the accretion of the fair value adjustments related to the Company's acquisitions:
Residential real estate$111 $79 
Commercial, financial, and agriculture969 1,206 
Installment loans to individuals4 4 
Time deposits4 10 
$1,088 $1,299 
(3) Includes the Company’s consumer and DDA overdrafts loan categories.
(4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%.



CITY HOLDING COMPANY AND SUBSIDIARIES
Non-GAAP Reconciliations
(Unaudited) ($ in 000s, except per share data)
Three Months EndedSix Months Ended
June 30,March 31,December 31,September 30,June 30,June 30,June 30,
2026202620252025202520262025
Net Interest Income/Margin
Net interest income ("GAAP")$60,759 $59,617 $60,557 $61,107 $58,924 $120,376 $114,738 
Taxable equivalent adjustment275 273 268 187 192 548 382 
Net interest income, fully taxable equivalent
$61,034 $59,890 $60,825 $61,294 $59,116 $120,924 $115,120 
Tangible Equity Ratio (period-end)
Equity to assets ("GAAP")11.94 %11.75 %12.04 %11.98 %11.58 %
Effect of goodwill and other intangibles, net(2.09)(2.1)(2.11)(2.14)(2.18)
Tangible common equity to tangible assets
9.85 %9.65 %9.93 %9.84 %9.40 %

Commercial Loan Information (period-end)
Commercial SectorTotal % of Total LoansAverage DSCAverage LTV
Natural Gas Extraction$41,928 0.94%3.60NA
Natural Gas Distribution17,753 0.403.08NA
Masonry Contractors16,365 0.371.04100%
Sheet Metal Work Manufacturing26,507 0.591.4068%
Beer & Ale Merchant Wholesalers24,653 0.551.59NA
Gasoline Stations with Convenience Stores47,505 1.062.0265%
Lessors of Residential Buildings & Dwellings510,911 11.401.5666%
1-4 Family195,204 4.361.8263%
Multi-Family205,114 4.581.7668%
Lessors of Nonresidential Buildings607,556 13.561.3365%
Office Buildings159,241 3.551.6562%
Lessors of Mini-Warehouses & Self-Storage Units55,190 1.231.4464%
Assisted Living Facilities24,998 0.561.5841%
Hotels & Motels396,475 8.851.7558%
Average BalanceMedian Balance
Commercial Loans$508 $107 
Commercial Real Estate Loans576 136 






CITY HOLDING COMPANY AND SUBSIDIARIES
Non-GAAP Reconciliations, continued
(Unaudited) ($ in 000s, except per share data)
Net Growth in DDA Accounts
YearNew DDA AccountsNet Number of New AccountsPercentage
202616,1752,0810.8 %
202531,4273,5481.3 %
202432,2384,4971.8 %
2023*31,7454,7681.9 %
202228,4424,5441.9 %
202132,8008,8603.8 %
202030,3606,7403.0 %
201932,0403,7171.7 %
* - amounts exclude accounts added in connection with the acquisition of Citizens Commerce Bancshares, Inc. (2023).

Source: View Original Filing on SEC EDGAR

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