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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025June 30, 2026June 30, 2025 | 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 shareholders
33,298 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 | Diluted
2.35 2.20 2.18 2.41 2.29 4.55 4.35 | Weighted average number of shares (in thousands): | Basic
14,046 14,270 14,359 14,457 14,466 14,151 14,541 | Diluted
14,062 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 price
120.48 116.62 117.04 118.89 108.93 116.62 108.93 | Period-end closing price
132.64 119.52 119.20 123.87 122.42 132.64 122.42 | 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 assets
1.98 % 1.92 % 1.86 % 2.11 % 2.03 % 1.95 % 1.96 % | Return on average tangible equity
20.7 % 19.3 % 19.2 % 22.5 % 22.7 % 20.0 % 21.7 % | Yield on interest earning assets
5.24 % 5.24 % 5.29 % 5.43 % 5.38 % 5.24 % 5.36 % | Cost of interest bearing liabilities
1.75 % 1.76 % 1.87 % 1.91 % 1.95 % 1.76 % 1.99 % | Net Interest Margin
3.97 % 3.97 % 3.94 % 4.04 % 3.95 % 3.97 % 3.90 % | Non-interest income as a percent of total revenue
25.4 % 24.8 % 24.9 % 24.7 % 24.7 % 25.3 % 25.1 % | Efficiency Ratio
48.1 % 48.9 % 48.2 % 46.0 % 49.0 % 48.6 % 49.4 % | Price/Earnings Ratio (a)
14.09 13.56 13.68 12.84 13.38 14.58 14.09 | Capital (period-end) | Average Shareholders' Equity to Average Assets
11.87 % 12.32 % 12.04 % 11.81 % 11.37 % | Tangible equity to tangible assets
9.85 % 9.65 % 9.93 % 9.84 % 9.40 % | Consolidated City Holding Company risk based capital ratios (b): | CET I
17.06 % 16.87 % 16.94 % 17.19 % 16.78 % | Tier I
17.06 % 16.87 % 16.94 % 17.19 % 16.78 % | Total
17.53 % 17.33 % 17.40 % 17.66 % 17.26 % | Leverage
10.97 % 10.86 % 10.96 % 11.06 % 10.70 % | City National Bank risk based capital ratios (b): | CET I
15.01 % 14.35 % 13.42 % 15.83 % 15.10 % | Tier I
15.01 % 14.35 % 13.42 % 15.83 % 15.10 % | Total
15.48 % 14.81 % 13.88 % 16.30 % 15.58 % | Leverage
9.65 % 9.23 % 8.68 % 10.18 % 9.63 % | Other (period-end) | Branches
95 96 96 96 96 | FTE
924 928 934 934 934 | 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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025June 30, 2026June 30, 2025 | 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: | Taxable
12,920 13,129 14,657 15,947 15,347 26,049 29,292 | Tax-exempt
1,031 1,027 1,014 708 712 2,057 1,436 | Interest on deposits in depository institutions
1,676 942 1,400 829 1,644 2,618 3,446 | Total Interest Income
80,211 78,769 81,447 82,090 80,291 158,979 157,679 | Interest Expense | Interest on deposits
14,924 14,756 15,811 16,201 16,492 29,680 33,345 | Interest on customer repurchase agreements
2,959 2,844 3,493 3,196 3,307 5,803 6,476 | Interest on FHLB advances
1,569 1,552 1,586 1,586 1,568 3,120 3,120 | Total Interest Expense
19,452 19,152 20,890 20,983 21,367 38,603 42,941 | Net Interest Income
60,759 59,617 60,557 61,107 58,924 120,376 114,738 | Provision for (Recovery of) credit losses
436 613 1,117 (528 ) (1,909 ) 1,049 (1,787 ) | Net Interest Income After Provision for (Recovery of) Credit Losses
60,323 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 equity securities still held
58 7 (416 ) 96 (263 ) 65 (268 ) | Service charges
7,947 7,761 8,057 8,221 7,551 15,708 15,063 | Bankcard revenue
7,548 6,889 7,291 7,324 7,233 14,437 14,040 | Wealth and investment management fee income
3,451 3,317 3,352 3,075 3,016 6,768 5,918 | Bank owned life insurance
886 979 864 919 942 1,865 2,095 | Other income
874 1,047 834 851 894 1,921 1,623 | Total Non-Interest Income
20,764 20,000 19,982 20,523 19,523 40,764 38,621 | Non-Interest Expense | Salaries and employee benefits
20,455 20,183 20,198 19,779 19,995 40,638 39,189 | Occupancy related expense
2,428 2,632 2,316 2,340 2,316 5,060 4,898 | Equipment and software related expense
3,746 3,665 3,812 3,618 3,554 7,411 7,024 | Bankcard expenses
2,147 2,118 2,376 2,191 2,203 4,266 4,418 | Other tax-related matters
2,438 2,681 2,312 2,104 2,327 5,119 4,589 | Advertising
1,016 884 577 668 964 1,900 1,837 | FDIC insurance expense
772 805 756 761 756 1,577 1,532 | Legal and professional fees
612 553 552 549 651 1,165 1,233 | Other expenses
6,153 6,221 6,982 6,302 6,429 12,373 12,348 | Total Non-Interest Expense
39,767 39,742 39,881 38,312 39,195 79,509 77,068 | Income Before Income Taxes
41,320 39,262 39,541 43,846 41,161 80,582 78,078 | Income tax expense
8,022 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 shareholders
20,931 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 outstanding
14,046 14,270 14,359 14,457 14,466 14,151 14,541 | Shares for diluted earnings per share
14,062 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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025 | Assets | Cash and due from banks $ 141,519 $ 135,816 $ 152,111 $ 129,665 $ 145,876 | Interest-bearing deposits in depository institutions
125,683 163,201 39,808 95,929 26,248 | Cash and cash equivalents
267,202 299,017 191,919 225,594 172,124 | Investment securities available-for-sale, at fair value
1,476,725 1,441,098 1,503,358 1,510,772 1,562,423 | Other securities
29,755 29,462 29,474 29,878 29,768 | Total investment securities
1,506,480 1,470,560 1,532,832 1,540,650 1,592,191 | Gross loans
4,501,774 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 loans
4,481,935 4,472,397 4,484,002 4,389,173 4,314,271 | Bank owned life insurance
125,860 124,976 124,370 123,506 122,587 | Premises and equipment, net
67,190 68,740 69,133 69,539 69,038 | Accrued interest receivable
21,300 21,645 20,718 21,890 21,654 | Deferred tax assets, net
31,603 31,652 30,005 32,159 33,994 | Goodwill and intangible assets, net
156,895 157,383 157,871 158,414 158,957 | Other assets
115,530 113,899 111,168 106,707 113,321 | 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 deposits
1,321,556 1,345,723 1,339,435 1,338,872 1,333,858 | Savings deposits
1,288,260 1,276,884 1,244,571 1,238,832 1,244,179 | Time deposits
1,308,641 1,310,136 1,303,361 1,302,575 1,287,536 | Total deposits
5,340,150 5,343,604 5,300,988 5,257,592 5,248,820 | Customer repurchase agreements
377,551 374,825 367,674 369,012 339,834 | FHLB advances
150,000 150,000 150,000 150,000 150,000 | Other liabilities
97,345 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 stock
47,619 47,619 47,619 47,619 47,619 | Capital surplus
174,805 173,130 174,598 173,733 172,853 | Retained earnings
975,454 954,407 935,046 915,971 893,422 | 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' Equity
808,949 794,390 809,680 798,943 764,215 | 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 capital
736,703 720,535 730,453 726,739 702,729 | Total risk-based capital
757,074 740,252 750,319 746,422 722,477 | Total risk-weighted assets
4,318,183 4,270,400 4,312,112 4,226,712 4,186,844 |
| CITY HOLDING COMPANY AND SUBSIDIARIES | Loan Portfolio | (Unaudited) ($ in 000s) | June 30, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025 | Commercial and industrial $ 454,122 $ 441,617 $ 453,975 $ 426,654 $ 409,317 | 1-4 Family
223,301 221,165 210,232 204,280 199,400 | Hotels
396,079 395,857 398,608 397,338 380,496 | Multi-family
231,946 227,687 237,424 233,678 221,970 | Non Residential Non-Owner Occupied
765,358 772,778 767,580 728,625 740,104 | Non Residential Owner Occupied
253,471 251,382 253,398 239,058 236,935 | 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 equity
231,057 224,723 224,701 218,750 207,906 | Consumer
39,906 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 loans
11,144 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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025June 30, 2026June 30, 2025 | Allowance for Credit 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 industrial
70 5 (347 ) 400 15 75 52 | Commercial real estate
443 235 (144 ) 202 51 678 81 | Residential real estate
9 30 (29 ) 35 49 39 50 | Home equity
72 90 17 64 96 162 100 | Consumer
20 20 4 16 25 40 34 | Total recoveries
614 380 (499 ) 717 236 994 317 | Net recoveries (charge-offs)
208 (747 ) (845 ) 484 54 (539 ) (245 ) | Provision for (recovery of) credit losses
436 613 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 outstanding
0.44 % 0.43 % 0.43 % 0.43 % 0.44 % | Allowance as a percent of non-performing loans
196.4 % 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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025 | Nonaccrual Loans | Residential real estate $ 3,186 $ 4,274 $ 4,497 $ 2,624 $ 3,602 | Home equity
132 313 308 498 283 | Commercial and industrial
377 431 557 555 600 | Commercial real estate
6,322 6,403 8,448 9,169 9,515 | Consumer
- 2 - - - | Total nonaccrual loans
10,017 11,423 13,810 12,846 14,000 | Accruing loans past due 90 days or more
82 64 109 946 63 | Total non-performing loans
10,099 11,487 13,919 13,792 14,063 | Other real estate owned
495 693 482 485 185 | 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 owned
0.24 % 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 equity
711 840 772 651 788 | Commercial and industrial
- 273 279 140 - | Commercial real estate
532 670 291 1,314 202 | Consumer
119 267 308 221 163 | Total past due loans $ 8,644 $ 8,490 $ 8,111 $ 7,961 $ 7,650 | Total past due loans as a percent of loans outstanding
0.19 % 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 % $ 2,135,883 $ 28,309 5.38 % $ 2,068,082 $ 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 loans
4,497,044 64,584 5.76 % 4,491,591 63,671 5.75 % 4,305,865 62,590 5.83 % | Securities: | Taxable
1,325,318 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 securities
1,482,325 14,225 3.85 % 1,517,689 14,429 3.86 % 1,544,935 16,249 4.22 % | Deposits in depository institutions
181,432 1,676 3.71 % 103,353 942 3.70 % 147,662 1,644 4.47 % | Total interest-earning assets
6,160,801 80,485 5.24 % 6,112,633 79,042 5.24 % 5,998,462 80,483 5.38 % | Cash and due from banks
105,656 96,384 94,199 | Premises and equipment, net
68,421 68,933 69,523 | Goodwill and intangible assets
157,083 157,616 159,164 | Other assets
289,904 283,283 295,632 | 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 deposits
1,282,409 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 agreements
392,974 2,959 3.02 % 368,483 2,844 3.13 % 359,626 3,307 3.69 % | FHLB advances
150,000 1,569 4.20 % 150,000 1,552 4.20 % 150,000 1,568 4.19 % | Total interest-bearing liabilities
4,459,432 19,451 1.75 % 4,405,728 19,152 1.76 % 4,384,730 21,367 1.95 % | Noninterest-bearing demand deposits
1,410,471 1,380,136 1,363,481 | Other liabilities
89,801 87,987 97,481 | Stockholders' equity
802,364 825,248 749,830 | 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 assets 3.97 % 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 agriculture
529 440 676 | Installment loans to individuals
1 3 - | Time deposits
2 2 3 | $ 578 $ 510 $ 736 | (3) Includes the Company’s consumer loan category. | (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 loans
4,494,331 128,255 5.75 % 4,297,023 123,506 5.80 % | Securities: | Taxable
1,341,493 26,049 3.92 % 1,367,994 29,292 4.32 % | Tax-exempt (4)
158,416 2,605 3.32 % 131,348 1,817 2.79 % | Total securities
1,499,909 28,654 3.85 % 1,499,342 31,109 4.18 % | Deposits in depository institutions
142,608 2,618 3.70 % 155,820 3,446 4.46 % | Total interest-earning assets
6,136,848 159,527 5.24 % 5,952,185 158,061 5.36 % | Cash and due from banks
101,046 96,508 | Premises and equipment, net
68,676 69,907 | Goodwill and intangible assets
157,348 159,438 | Other assets
286,606 299,017 | Less: Allowance for credit 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 deposits
1,268,047 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 agreements
380,796 5,803 3.07 % 346,666 6,476 3.77 % | FHLB advances
150,000 3,120 4.19 % 150,000 3,120 4.19 % | Total interest-bearing liabilities
4,432,728 38,603 1.76 % 4,353,305 42,940 1.99 % | Noninterest-bearing demand deposits
1,395,387 1,349,998 | Other liabilities
88,899 100,872 | Stockholders' equity
813,743 751,380 | Total liabilities and | stockholders' equity $ 6,730,757 $ 6,555,555 | Net interest income $ 120,924 $ 115,121 | Net yield on earning assets 3.97 % 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 agriculture
969 1,206 | Installment loans to individuals
4 4 | Time deposits
4 10 | $ 1,088 $ 1,299 | (3) Includes the Company’s consumer category. | (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, 2026March 31, 2026December 31, 2025September 30, 2025June 30, 2025June 30, 2026June 30, 2025 | Net Interest Income/Margin | Net interest income ("GAAP") $ 60,759 $ 59,617 $ 60,557 $ 61,107 $ 58,924 $ 120,376 $ 114,738 | Taxable equivalent adjustment
275 273 268 187 192 548 382 | 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 )% (2.10 )% (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% 3.60 NA | Natural Gas Distribution
17,753 0.40% 3.08 NA | Masonry Contractors
16,365 0.37% 1.04 100% | Sheet Metal Work Manufacturing
26,507 0.59% 1.40 68% | Beer & Ale Merchant Wholesalers
24,653 0.55% 1.59 NA | Gasoline Stations with Convenience Stores
47,505 1.06% 2.02 65% | Lessors of Residential Buildings & Dwellings
510,911 11.40% 1.56 66% | 1-4 Family
195,204 4.36% 1.82 63% | Multi-Family
205,114 4.58% 1.76 68% | Lessors of Nonresidential Buildings
607,556 13.56% 1.33 65% | Office Buildings
159,241 3.55% 1.65 62% | Lessors of Mini-Warehouses & Self-Storage Units
55,190 1.23% 1.44 64% | Assisted Living Facilities
24,998 0.56% 1.58 41% | Hotels & Motels
396,475 8.85% 1.75 58% | Average BalanceMedian Balance | Commercial, Financial, and Agriculture Loans $ 508 $ 107 | Commercial Real Estate Loans
576 136 | 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 | 2026 16,175 2,081 0.8 % | 2025 31,427 3,548 1.3 % | 2024 32,238 4,497 1.8 % | 2023* 31,745 4,768 1.9 % | 2022 28,442 4,544 1.9 % | 2021 32,800 8,860 3.8 % | 2020 30,360 6,740 3.0 % | 2019 32,040 3,717 1.7 % | * - amounts exclude accounts added in connection with the acquisitions of Citizens Commerce Bancshares, Inc. (2023). |
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