City Holding (NASDAQ: CHCO) okays 1M-share buyback and $0.87 dividend
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
City Holding Company declared a cash dividend of $0.87 per common share for shareholders of record as of April 15, 2026, payable on April 30, 2026. The board also approved a new stock repurchase program authorizing buybacks of up to 1,000,000 common shares, which the company notes is approximately 7% of its 14.2 million outstanding shares.
The repurchases may occur in open‑market or block trades at prices the company views as accretive to earnings per share, with no set end date and flexibility for management to start or pause activity based on market and business conditions. The new authorization replaces a January 2024 plan under which 822,634 shares had already been repurchased, and is framed as part of a strategy to return capital while remaining very well capitalized.
Positive
- Meaningful new buyback authorization: The company can repurchase up to 1,000,000 shares, approximately 7% of its 14.2 million outstanding shares, indicating a sizeable capacity to return capital to shareholders.
- Ongoing cash dividends with capital strength: A quarterly dividend of $0.87 per share is maintained while management describes the company as very well capitalized with capital continuing to grow from exceptional earnings.
Negative
- None.
Insights
City Holding pairs a sizable buyback with a steady dividend, signaling confidence in capital strength.
City Holding Company authorized repurchases of up to 1,000,000 shares, about 7% of its 14.2 million outstanding, alongside a regular $0.87 per share dividend. For a $6.7 billion bank holding company, this represents a meaningful capital return package.
Management states the company remains “very well capitalized” and that capital continues to grow from “exceptional earnings,” positioning this program as part of a broader value-building strategy. Repurchases are discretionary and can be started or stopped at any time, so actual execution will depend on market and business conditions.
The board rescinded the January 2024 plan after buying back 822,634 shares, replacing it with the new authorization. Future disclosures in company filings will show how aggressively the new capacity is used relative to capital levels and organic growth opportunities.
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): March 25, 2026
(Exact Name of Registrant as Specified in its Charter)
Commission File Number: 0-11733
| (State or Other Jurisdiction of | (I.R.S. Employer | ||||
| Incorporation or Organization) | Identification No.) | ||||
(Address of Principal Executive Offices, Including Zip Code)
(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)) | |||||
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| 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:
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| 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. ☐ | |||||
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Section 8 – Other Events
Item 8.01 Other Events.
On March 25, 2026, the Board of Directors of the Company, declared a dividend of $0.87 per common share for shareholders of record as of April 15, 2026 payable on April 30, 2026.
In addition, on March 25, 2026 the Board of Directors of City Holding Company (the “Company”) authorized the Company to buy back up to 1,000,000 of its common shares (the “Program”) in open market transactions, in block trades or otherwise at prices that are accretive to the earnings per share of continuing shareholders. The Program, which has no time limit on the duration, permits management to commence or suspend purchases at any time or from time-to-time based upon market and business conditions and without prior notice.
Furnished as Exhibit 99.1 and incorporated herein by reference is the news release issued by the Company announcing the approval of the stock repurchase program.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(c) Exhibit
| 99.1 | News Release issued March 25, 2026 – City Holding Company Announces Approval of Stock Repurchase Plan | ||||
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: March 25, 2026 | City Holding Company | ||||
| By: | /s/ David L. Bumgarner | ||||
| David L. Bumgarner | |||||
| Executive Vice President & Chief Financial Officer | |||||
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Exhibit 99.1
| NEWS RELEASE | ||
For Immediate Release
March 25, 2026
For Further Information Contact:
David L. Bumgarner, Executive Vice President & CFO
(304) 769-1169
City Holding Company Announces Approval of Stock Repurchase Plan
Charleston, West Virginia – City Holding Company, “the Company” (NASDAQ:CHCO), a $6.7 billion bank holding company headquartered in Charleston, today announced that the board authorized the Company to buy back up to 1,000,000 of its common shares (approximately 7% of outstanding shares) in open market transactions at prices that are accretive to the earnings per share of continuing shareholders. Management may commence or suspend purchases at any time or from time-to-time based on market and business conditions and without prior notice. No time limit has been placed on the duration of the share repurchase program. As part of its authorization, the Company rescinded the previous share repurchase plan approved January 31, 2024. Through March 25, 2026, the Company repurchased 822,634 shares under the January 2024 plan.
"As of March 25, 2026, the Company continues to be very well capitalized and capital continues to grow due to our exceptional earnings. As a result, we view this repurchase plan as part of a continued strategy to build value for our stockholders while maintaining appropriate capital levels,” stated Charles R. Hageboeck, President & CEO. The Company currently has 14.2 million outstanding common shares. Repurchase of the Company's stock is subject to availability of the stock and may be discontinued at any time.
City Holding Company is the parent company of City National Bank of West Virginia. City National operates 96 branches across West Virginia, Kentucky, Virginia and eastern 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; (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, including changes in deposit insurance premiums; (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.
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FAQ
What dividend did City Holding Company (CHCO) declare in this filing?
City Holding Company declared a cash dividend of $0.87 per common share. Shareholders of record on April 15, 2026 will receive the payment on April 30, 2026, providing ongoing income alongside the newly approved stock repurchase program.
How large is City Holding Company’s new share repurchase authorization?
The board authorized repurchases of up to 1,000,000 common shares. The company states this equals approximately 7% of its 14.2 million outstanding shares, giving significant flexibility to return capital via buybacks over time if market conditions are favorable.
Did City Holding Company (CHCO) replace a prior buyback plan?
Yes. As part of the new authorization, the company rescinded its prior share repurchase plan approved January 31, 2024. Through March 25, 2026, it had repurchased 822,634 shares under that earlier program before shifting to the newly approved plan.
Is there a time limit on City Holding Company’s new repurchase program?
No explicit time limit applies to the new repurchase program. Management may commence or suspend stock purchases at any time, or from time to time, in response to market and business conditions without providing prior public notice of such changes.
How does City Holding Company describe its capital position with this plan?
Management describes the company as very well capitalized, with capital continuing to grow due to exceptional earnings. The repurchase plan is characterized as part of an ongoing strategy to build value for stockholders while still maintaining appropriate regulatory and internal capital levels.
What type of company is City Holding Company (CHCO) and where does it operate?
City Holding Company is a $6.7 billion bank holding company headquartered in Charleston, West Virginia. Its subsidiary, City National Bank of West Virginia, operates 96 branches across West Virginia, Kentucky, Virginia and eastern Ohio, serving a multi-state regional customer base.
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