# EDGAR Filing Document

**Accession Number:** 0000726854
**File Stem:** 0000726854-25-000150
**Filing Date:** 2025-7
**Character Count:** 58246
**Document Hash:** 3e03fded962618dceca7e78601c9d6bd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000726854-25-000150.hdr.sgml**: 20250722

**ACCESSION NUMBER**: 0000726854-25-000150

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20250722

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250722

**DATE AS OF CHANGE**: 20250722

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITY HOLDING CO
- **CENTRAL INDEX KEY:** 0000726854
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 550619957
- **STATE OF INCORPORATION:** WV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-11733
- **FILM NUMBER:** 251139087

**BUSINESS ADDRESS:**
- **STREET 1:** 25 GATEWATER ROAD
- **STREET 2:** P O BOX 7520
- **CITY:** CHARLESTON
- **STATE:** WV
- **ZIP:** 25313
- **BUSINESS PHONE:** 3047691100

**MAIL ADDRESS:**
- **STREET 1:** 25 GATEWATER ROAD
- **STREET 2:** P O BOX 7520
- **CITY:** CHARLESTON
- **STATE:** WV
- **ZIP:** 25313

?xml version='1.0' encoding='ASCII'? chco-20250722

**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, 2025

![a92019chcodivimage1a02.jpg](chco-20250722_g1.jpg)

**CITY HOLDING COMPANY** 

**(Exact Name of Registrant as Specified in its Charter)** 

**Commission File Number: 0-11733** 

---

| | |
|:---|:---|
| **West Virginia** | **55-0619957** |
| (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 class | Trading<br>symbol(s) | Name of each exchange on which registered |
| **Common Stock $2.50 Par Value** | **CHCO** | **NASDAQ Global Select Market** |

---

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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). | 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. ☐ | 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 2 - Financial Information**

**Item 2.02 Results of Operations and Financial Condition.**

On July 22, 2025, 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, 2025. 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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<u>[99.1](chco06-30x2025exhibit991.htm)</u> News Release issued July 22, 2025

**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, 2025 | **City Holding Company** |
| By: | /s/ David L. Bumgarner |
|  | David L. Bumgarner |
|  | Executive Vice President & Chief Financial Officer |

---

## Exhibit 99.1

NEWS RELEASE

For Immediate Release

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;July 22, 2025

For Further Information Contact:

David L. Bumgarner, Executive Vice President and Chief Financial Officer

(304) 769-1169

**City Holding Company Announces Record Quarterly Results**

Charleston, West Virginia – City Holding Company ("Company" or "City") (NASDAQ:CHCO), a $6.6 billion bank holding company headquartered in Charleston, West Virginia, today announced record quarterly net income of $33.4 million and diluted earnings of $2.29 per share for the quarter ended June 30, 2025. In the second quarter of 2025, the Company achieved a return on assets of 2.03% and a return on tangible equity of 22.7%.

***Net Interest Income***

The Company's net interest income increased approximately $3.1 million, or 5.6%, from $55.8 million during the first quarter of 2025 to $58.9 million during the second quarter of 2025. The Company's tax equivalent net interest income increased $3.1 million, or 5.5%, from $56.0 million for the first quarter of 2025 to $59.1 million for the second quarter of 2025. Due to an increase in the yield on loans of 18 basis points, net interest income increased $1.5 million as adjustable rate loans reprice upwards and new loans were added at higher yields. Additionally, net interest income increased by $1.0 million due to an increase in the average balance of investments ($91.7 million), by $0.7 million due to a decrease of three basis points in the cost of interest bearing liabilities, and by $0.4 million due to an increase in the yield of 15 basis points on investments. These increases were partially offset by an increase in the average balance of interest bearing liabilities ($63.2 million) which lowered net interest income by $0.4 million. The Company's reported net interest margin increased from 3.84% for the first quarter of 2025 to 3.95% for the second quarter of 2025.

***Credit Quality***

The Company's ratio of nonperforming assets to total loans and other real estate owned decreased from 0.38%, or $16.5 million, at March 31, 2025, to 0.33%, or $14.2 million, at June 30, 2025. Total past due loans increased from $7.5 million, or 0.18% of total loans outstanding, at March 31, 2025, to $8.0 million, or 0.18% of total loans outstanding, at June 30, 2025.

As a result of the Company's quarterly analysis of the adequacy of the allowance for credit losses ("ACL"), the Company recorded a recovery of credit losses of $2.0 million in the second quarter of 2025, compared to a provision for credit losses of $0.5 million for the comparable period in 2024 and no provision for credit losses for the first quarter of 2025. The recovery of credit losses in the second quarter was primarily due to an upgrade of a specific credit that was downgraded in the third quarter of 2023, but

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has since seen improved financial performance. This upgrade released $1.4 million of ACL reserves. Additionally, $0.3 million of reserves were reversed due to payoffs on purchase credit deteriorated loans during the quarter ended June 30, 2025. From January 1, 2023 through June 30, 2025, the Company had cumulative net charge-offs of $3.1 million.

***Non-interest Income***

Non-interest income was $19.2 million during the quarter ended June 30, 2025, as compared to $18.9 million during the quarter ended June 30, 2024. During the second quarter of 2025, the Company reported $0.2 million of realized investment gains and $0.3 million of unrealized fair value losses on the Company's equity securities as compared to $0.4 million of unrealized fair value gains on the Company's equity securities during the second quarter of 2024.

Exclusive of these items, non-interest income increased $0.8 million, or 4.3%, from $18.6 million for the second quarter of 2024 to $19.4 million for the second quarter of 2025. This increase was attributable to an increase of $0.3 million in service fees, an increase of $0.3 million in wealth and investment management fee income, and an increase of $0.2 million in bank owned life insurance. As compared to the six months ended June 30, 2024, service fee income increased $0.4 million and bankcard revenues were flat for the six months ended June 30, 2025.

***Non-interest Expenses***

Non-interest expenses increased $2.2 million, or 6.1%, from $36.8 million in the second quarter of 2024 to $39.0 million in the second quarter of 2025. This increase was largely due to an increase of $1.2 million in salaries and employee benefits due to increased health insurance costs and salary adjustments. In addition, equipment and software related expenses increased $0.4 million, other tax-related matters increased $0.3 million, and repossessed asset losses increased $0.3 million.

***Balance Sheet Trends***

Loans increased $53.4 million (1.3%) from March 31, 2025 to $4.34 billion at June 30, 2025. Residential real estate loans increased $42.6 million (2.3%), commercial real estate loans increased $19.9 million (1.1%), and home equity loans increased $4.7 million (2.3%). These increases were partially offset by a decrease in commercial and industrial loans of $13.9 million.

Period-end deposit balances decreased $9.6 million from March 31, 2025 to June 30, 2025. Total average depository balances increased $64.3 million, or 1.2%, from the quarter ended March 31, 2025 to the quarter ended June 30, 2025. Average noninterest bearing deposits increased $27.1 million, average time deposits increased $18.6 million, average savings deposits increased $10.7 million, and average interest-bearing demand deposits increased $7.8 million.

***Income Tax Expense***

The Company's effective income tax rate for the second quarter of 2025 was 18.9%, compared to 19.0% for the year ended December 31, 2024 and 19.7% for the quarter ended June 30, 2024.

***Capitalization and Liquidity***

The Company's gross loan to deposit ratio was 82.7%, and its gross loan to asset ratio was 65.8% at June 30, 2025. The Company maintained investment securities totaling 24.1% of assets as of the same date. The Company's deposit mix is weighted heavily toward checking and saving accounts, which fund 60.0% of assets at June 30, 2025. Time deposits funded 19.5% of assets at June 30, 2025, with only 14.9% of

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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, 2025, City National had the capacity to borrow an additional $1.6 billion from these existing borrowing facilities. In addition, approximately $669 million of City National's investment securities were pledged to collateralize customer repurchase agreements and various deposit accounts, leaving approximately $924 million of City National's investment securities unpledged at June 30, 2025.

The Company continues to be strongly capitalized with tangible equity of $605 million at June 30, 2025. The Company's tangible equity ratio increased from 9.1% at December 31, 2024 to 9.4% at June 30, 2025. At June 30, 2025, City National's Leverage Ratio was 9.6%, its Common Equity Tier I ratio was 15.1%, its Tier I Capital ratio was 15.1%, and its Total Risk-Based Capital ratio was 15.6%. These regulatory capital ratios are significantly above levels required to be considered "well capitalized," which is the highest possible regulatory designation.

On May 28, 2025, the Board of Directors of the Company approved a quarterly cash dividend of $0.79 per share payable July 31, 2025 to shareholders of record as of July 15, 2025. During the quarter ended June 30, 2025, the Company repurchased 175,000 common shares at a weighted average price of $111.09 per share as part of a one million share repurchase plan authorized by the Board of Directors in January 2024. As of June 30, 2025, the Company could repurchase 566,000 additional shares under the current program. At June 30, 2025, City Holding Company had significant resources available to repurchase shares with a cash balance of $66 million and dividends available from City National of $65 million through the six months ended June 30, 2025. The parent company's annual expenditures are approximately $45 million (based on the Company's operating expenses, contractual obligations and current quarterly dividend of $0.79 per share).

City National operates 96 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, 2024 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* 

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*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. Further, the Company is required to evaluate subsequent events through the filing of its June 30, 2025 Form 10-Q. The Company will continue to evaluate the impact of any subsequent events on the preliminary June 30, 2025 results and will adjust the amounts if necessary*.

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Financial Highlights**

**(Unaudited)**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** | **June 30,**<br>**2025** | **June 30,**<br>**2024** |
| **Earnings** |  |  |  |  |  |  |  |
| Net Interest Income (fully taxable equivalent) | $59116 | $56007 | $55790 | $55823 | $54847 | $115121 | $109495 |
| Net Income available to common shareholders | 33387 | 30342 | 28654 | 29809 | 29115 | 63729 | 58638 |
| **Per Share Data** |  |  |  |  |  |  |  |
| Earnings per share available to common shareholders: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Basic | $2.29 | $2.06 | $1.94 | $2.02 | $1.96 | $4.35 | $3.95 |
| &nbsp;&nbsp;Diluted | 2.29 | 2.06 | 1.94 | 2.02 | 1.96 | 4.35 | 3.94 |
| Weighted average number of shares (in thousands): |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Basic | 14466 | 14616 | 14634 | 14633 | 14695 | 14541 | 14721 |
| &nbsp;&nbsp;Diluted | 14471 | 14631 | 14655 | 14654 | 14710 | 14551 | 14740 |
| Period-end number of shares (in thousands) | 14495 | 14650 | 14705 | 14702 | 14701 | 14495 | 14701 |
| Cash dividends declared | $0.79 | $0.79 | $0.79 | $0.79 | $0.72 | $1.58 | $1.43 |
| Book value per share (period-end) | 52.72 | 51.63 | 49.69 | 50.42 | 46.71 | 52.72 | 46.71 |
| Tangible book value per share (period-end) | 41.76 | 40.74 | 38.80 | 39.49 | 35.75 | 41.76 | 35.75 |
| Market data: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;High closing price | $123.42 | $120.39 | $134.35 | $123.29 | $106.43 | $123.42 | $111.40 |
| &nbsp;&nbsp;Low closing price | 108.93 | 114.48 | 113.37 | 104.53 | 98.35 | 108.93 | 98.35 |
| &nbsp;&nbsp;Period-end closing price | 122.42 | 117.47 | 118.48 | 117.39 | 106.25 | 122.42 | 106.25 |
| &nbsp;&nbsp;Average daily volume (in thousands) | 76 | 63 | 53 | 56 | 57 | 69 | 60 |
| Treasury share activity: |  |  |  |  |  |  |  |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Treasury shares repurchased (in thousands) | 175 | 81 |  |  | 142 | 255 | 179 |
| &nbsp;&nbsp;Average treasury share repurchase price | $111.09 | $117.42 | $— | $— | $100.24 | $113.09 | $100.24 |
| **Key Ratios (percent)** |  |  |  |  |  |  |  |
| Return on average assets | 2.03% | 1.89% | 1.75% | 1.87% | 1.85% | 1.96% | 1.89% |
| Return on average tangible equity | 22.7% | 20.7% | 19.4% | 20.9% | 22.2% | 21.7% | 22.4% |
| Yield on interest earning assets | 5.38% | 5.32% | 5.31% | 5.43% | 5.38% | 5.35% | 5.36% |
| Cost of interest bearing liabilities | 1.95% | 2.02% | 2.14% | 2.13% | 2.06% | 1.99% | 1.98% |
| Net Interest Margin | 3.95% | 3.84% | 3.75% | 3.87% | 3.87% | 3.90% | 3.91% |
| Non-interest income as a percent of total revenue | 24.7% | 25.1% | 25.8% | 26.5% | 25.3% | 24.8% | 25.3% |
| Efficiency Ratio | 49.0% | 49.6% | 48.4% | 48.8% | 49.3% | 49.3% | 48.9% |
| Price/Earnings Ratio (a) | 13.38 | 14.26 | 15.27 | 14.54 | 13.53 | 14.09 | 13.46 |
| **Capital (period-end)** |  |  |  |  |  |  |  |
| Average Shareholders' Equity to Average Assets | 11.37% | 11.56% | 11.46% | 11.45% | 10.90% |  |  |
| Tangible equity to tangible assets | 9.40% | 9.23% | 9.06% | 9.26% | 8.50% |  |  |
| Consolidated City Holding Company risk based capital ratios (b): |  |  |  |  |  |  |  |
| &nbsp;&nbsp;CET I | 16.78% | 16.84% | 16.51% | 16.64% | 16.10% |  |  |
| &nbsp;&nbsp;Tier I | 16.78% | 16.84% | 16.51% | 16.64% | 16.10% |  |  |
| &nbsp;&nbsp;Total | 17.26% | 17.36% | 17.02% | 17.17% | 16.64% |  |  |
| &nbsp;&nbsp;Leverage | 10.70% | 10.76% | 10.62% | 10.59% | 10.30% |  |  |
| City National Bank risk based capital ratios (b): |  |  |  |  |  |  |  |
| &nbsp;&nbsp;CET I | 15.10% | 14.38% | 13.55% | 16.00% | 15.17% |  |  |
| &nbsp;&nbsp;Tier I | 15.10% | 14.38% | 13.55% | 16.00% | 15.17% |  |  |
| &nbsp;&nbsp;Total | 15.58% | 14.90% | 14.05% | 16.52% | 15.72% |  |  |
| &nbsp;&nbsp;Leverage | 9.63% | 9.19% | 8.72% | 10.17% | 9.68% |  |  |
| **Other (period-end)** |  |  |  |  |  |  |  |
| Branches | 96 | 97 | 97 | 97 | 97 |  |  |
| FTE | 934 | 942 | 941 | 940 | 948 |  |  |
| Assets per FTE (in thousands) | $7064 | $7028 | $6864 | $6845 | $6689 |  |  |
| Deposits per FTE (in thousands) | 5619 | 5580 | 5467 | 5428 | 5345 |  |  |
| (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. | (a) The price/earnings ratio is computed based on annualized quarterly earnings. |
| (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. | (b) June 30, 2025 risk-based capital ratios are estimated. |

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**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Consolidated Statements of Income**

**(Unaudited) ($ in 000s, except per share data)**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** | **June 30,**<br>**2025** | **June 30,**<br>**2024** |
| **Interest Income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest and fees on loans | $62588 | $60917 | $61701 | $61407 | $59285 | $123505 | $118413 |
| &nbsp;&nbsp;Interest on investment securities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | 15347 | 13945 | 13742 | 14403 | 13947 | 29292 | 25987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 712 | 724 | 789 | 824 | 838 | 1436 | 1668 |
| &nbsp;&nbsp;Interest on deposits in depository institutions | 1644 | 1802 | 2588 | 1417 | 1920 | 3446 | 3490 |
| **Total Interest Income** | 80291 | 77388 | 78820 | 78051 | 75990 | 157679 | 149558 |
| **Interest Expense** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest on deposits | 16492 | 16852 | 17463 | 17072 | 15897 | 33344 | 29994 |
| &nbsp;&nbsp;Interest on customer repurchase agreements | 3307 | 3169 | 4191 | 3788 | 3900 | 6476 | 7521 |
| &nbsp;&nbsp;Interest on FHLB long-term advances | 1568 | 1552 | 1586 | 1586 | 1568 | 3120 | 2991 |
| **Total Interest Expense** | 21367 | 21573 | 23240 | 22446 | 21365 | 42940 | 40506 |
| **Net Interest Income** | 58924 | 55815 | 55580 | 55605 | 54625 | 114739 | 109052 |
| &nbsp;&nbsp;(Recovery of) Provision for credit losses | (2000) |  | 300 | 1200 | 500 | (2000) | 320 |
| **Net Interest Income After (Recovery of) Provision for Credit Losses** | 60924 | 55815 | 55280 | 54405 | 54125 | 116739 | 108732 |
| **Non-Interest Income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net gains (losses) on sale of investment securities | 150 |  | (2812) | (12) |  | 150 | (1) |
| &nbsp;&nbsp;Unrealized (losses) gains recognized on securities still held | (263) | (5) | (390) | 353 | 364 | (268) | 212 |
| &nbsp;&nbsp;Service charges | 7264 | 7151 | 7679 | 7531 | 6980 | 14415 | 14015 |
| &nbsp;&nbsp;Bankcard revenue | 7233 | 6807 | 7109 | 7346 | 7245 | 14040 | 14045 |
| &nbsp;&nbsp;Wealth and investment management fee income | 3016 | 2902 | 2947 | 2923 | 2762 | 5918 | 5385 |
| &nbsp;&nbsp;Bank owned life insurance | 942 | 1153 | 855 | 1435 | 775 | 2095 | 1702 |
| &nbsp;&nbsp;Other income | 894 | 729 | 739 | 772 | 785 | 1623 | 1501 |
| **Total Non-Interest Income** | 19236 | 18737 | 16127 | 20348 | 18911 | 37973 | 36859 |
| **Non-Interest Expense** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Salaries and employee benefits | 19995 | 19194 | 19489 | 19245 | 18751 | 39189 | 37629 |
| &nbsp;&nbsp;Occupancy related expense | 2316 | 2582 | 2308 | 2387 | 2468 | 4898 | 4921 |
| &nbsp;&nbsp;Equipment and software related expense | 3554 | 3470 | 3683 | 3431 | 3130 | 7024 | 6059 |
| &nbsp;&nbsp;Bankcard expenses | 2203 | 2215 | 1909 | 2271 | 2290 | 4418 | 4329 |
| &nbsp;&nbsp;Other tax-related matters | 2327 | 2262 | 1873 | 1756 | 2029 | 4589 | 4048 |
| &nbsp;&nbsp;Advertising | 964 | 873 | 901 | 1081 | 972 | 1837 | 1839 |
| &nbsp;&nbsp;FDIC insurance expense | 756 | 776 | 729 | 734 | 718 | 1532 | 1429 |
| &nbsp;&nbsp;Legal and professional fees | 651 | 582 | 629 | 500 | 551 | 1233 | 1033 |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;Repossessed asset losses (gains), net of expenses | 292 | (66) | (10) | 21 | 6 | 226 | 235 |
| &nbsp;&nbsp;Other expenses | 5941 | 5747 | 5414 | 6212 | 5857 | 11688 | 11150 |
| **Total Non-Interest Expense** | 38999 | 37635 | 36925 | 37638 | 36772 | 76634 | 72672 |
| **Income Before Income Taxes** | 41161 | 36917 | 34482 | 37115 | 36264 | 78078 | 72919 |
| &nbsp;&nbsp;Income tax expense | 7774 | 6575 | 5828 | 7306 | 7149 | 14349 | 14281 |
| **Net Income Available to Common Shareholders** | $33387 | $30342 | $28654 | $29809 | $29115 | $63729 | $58638 |
| Distributed earnings allocated to common shareholders | $11346 | $11483 | $11511 | $11506 | $10418 | $22691 | $20835 |
| Undistributed earnings allocated to common shareholders | 21735 | 18624 | 16881 | 18025 | 18439 | 40497 | 37284 |
| Net earnings allocated to common shareholders | $33081 | $30107 | $28392 | $29531 | $28857 | $63188 | $58119 |
| Average common shares outstanding | 14466 | 14616 | 14634 | 14633 | 14695 | 14541 | 14721 |
| Shares for diluted earnings per share | 14471 | 14631 | 14655 | 14654 | 14710 | 14551 | 14740 |
| Basic earnings per common share | $2.29 | $2.06 | $1.94 | $2.02 | $1.96 | $4.35 | $3.95 |
| Diluted earnings per common share | $2.29 | $2.06 | $1.94 | $2.02 | $1.96 | $4.35 | $3.94 |

---

------

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Consolidated Balance Sheets**

**($ in 000s)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | ***(Unaudited)*** | ***(Unaudited)*** | | ***(Unaudited)*** | ***(Unaudited)*** |
| | **June 30,** | **March 31,** | **December 31,** | **September 30,** | **June 30,** |
|  | **2025** | **2025** | **2024** | **2024** | **2024** |
| **Assets** |  |  |  |  |  |
| Cash and due from banks | $145876 | $135029 | $117580 | $161333 | $141168 |
| Interest-bearing deposits in depository institutions | 26248 | 249676 | 107809 | 132616 | 76818 |
| **Cash and cash equivalents** | 172124 | 384705 | 225389 | 293949 | 217986 |
| Investment securities available-for-sale, at fair value | 1562423 | 1416808 | 1421306 | 1462795 | 1456685 |
| Other securities | 29768 | 29809 | 29803 | 30859 | 31237 |
| **Total investment securities** | 1592191 | 1446617 | 1451109 | 1493654 | 1487922 |
| Gross loans | 4339196 | 4285824 | 4274776 | 4157830 | 4112873 |
| Allowance for credit losses | (19724) | (21669) | (21922) | (21832) | (22688) |
| **Net loans** | 4319472 | 4264155 | 4252854 | 4135998 | 4090185 |
| Bank owned life insurance | 122587 | 121738 | 120887 | 120061 | 119650 |
| Premises and equipment, net | 69038 | 69696 | 70539 | 70651 | 71041 |
| Accrued interest receivable | 21654 | 21603 | 20650 | 21785 | 21826 |
| Net deferred tax assets | 33994 | 35184 | 41704 | 33497 | 43602 |
| Intangible assets | 158957 | 159501 | 160044 | 160640 | 161236 |
| Other assets | 108120 | 119757 | 116283 | 104079 | 127947 |
| **Total Assets** | $6598137 | $6622956 | $6459459 | $6434314 | $6341395 |
| **Liabilities** |  |  |  |  |  |
| Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest-bearing | $1383247 | $1365870 | $1344449 | $1339538 | $1354660 |
| &nbsp;&nbsp;Interest-bearing: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand deposits | 1333858 | 1355806 | 1335220 | 1351239 | 1333169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings deposits | 1244179 | 1260903 | 1215358 | 1208828 | 1233834 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 1287536 | 1275890 | 1249123 | 1203046 | 1145617 |
| **Total deposits** | 5248820 | 5258469 | 5144150 | 5102651 | 5067280 |
| Customer repurchase agreements | 339834 | 347729 | 325655 | 339153 | 322668 |
| FHLB long-term advances | 150000 | 150000 | 150000 | 150000 | 150000 |
| Other liabilities | 95268 | 110422 | 108990 | 101211 | 114707 |
| **Total Liabilities** | $5833922 | $5866620 | $5728795 | $5693015 | $5654655 |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Stockholders' Equity** | | | | | |
| Preferred stock |  |  |  |  |  |
| Common stock | 47619 | 47619 | 47619 | 47619 | 47619 |
| Capital surplus | 172853 | 174300 | 176506 | 175602 | 174834 |
| Retained earnings | 893422 | 871406 | 852757 | 835778 | 817549 |
| Treasury stock | (254181) | (237038) | (230499) | (230836) | (230944) |
| Accumulated other comprehensive loss: |  |  |  |  |  |
| &nbsp;&nbsp;Unrealized loss on securities available-for-sale | (94056) | (98509) | (114277) | (84283) | (119737) |
| &nbsp;&nbsp;Underfunded pension liability | (1442) | (1442) | (1442) | (2581) | (2581) |
| **Total Accumulated Other Comprehensive Loss** | (95498) | (99951) | (115719) | (86864) | (122318) |
| **Total Stockholders' Equity** | 764215 | 756336 | 730664 | 741299 | 686740 |
| **Total Liabilities and Stockholders' Equity** | $6598137 | $6622956 | $6459459 | $6434314 | $6341395 |
| **Regulatory Capital** |  |  |  |  |  |
| Total CET 1 capital | $702729 | $698721 | $688707 | $669862 | $650108 |
| Total tier 1 capital | 702729 | 698721 | 688707 | 669862 | 650108 |
| Total risk-based capital | 722477 | 720400 | 709820 | 690857 | 671959 |
| Total risk-weighted assets | 4186844 | 4150062 | 4171271 | 4024686 | 4037614 |

---

------

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Loan Portfolio**

**(Unaudited) ($ in 000s)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| Commercial and industrial | $409317 | $423265 | $419838 | $424414 | $408312 |
| 1-4 Family | 199400 | 195641 | 197258 | 194670 | 195992 |
| Hotels | 380496 | 372758 | 389660 | 383232 | 370954 |
| Multi-family | 221970 | 215546 | 240943 | 193875 | 190390 |
| Non Residential Non-Owner Occupied | 740104 | 742323 | 707265 | 665210 | 668330 |
| Non Residential Owner Occupied | 236935 | 232732 | 233497 | 236826 | 235993 |
| Commercial real estate <sup>(1)</sup> | 1778905 | 1759000 | 1768623 | 1673813 | 1661659 |
| Residential real estate <sup>(2)</sup> | 1884449 | 1841851 | 1823610 | 1806578 | 1797260 |
| Home equity | 207906 | 203253 | 199192 | 190149 | 179607 |
| Consumer | 52795 | 54670 | 57816 | 58710 | 62352 |
| DDA overdrafts | 5824 | 3785 | 5697 | 4166 | 3683 |
| **Gross Loans** | $4339196 | $4285824 | $4274776 | $4157830 | $4112873 |
| Construction loans included in: |  |  |  |  |  |
| (1) - Commercial real estate loans | $28781 | $25683 | $24681 | $2736 | $2233 |
| (2) - Residential real estate loans | 6416 | 5276 | 7547 | 7604 | 9766 |

---

------

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Asset Quality Information**

**(Unaudited) ($ in 000s)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** | **June 30,**<br>**2025** | **June 30,**<br>**2024** |
| **Allowance for Loan Losses** |  |  |  |  |  |  |  |
| Balance at beginning of period | $21669 | $21922 | $21832 | $22688 | $22310 | $21922 | $22745 |
| &nbsp;&nbsp;&nbsp;Charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial |  | (30) | (99) | (206) | (61) | (30) | (367) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate |  | (220) |  | (1909) | (40) | (220) | (71) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | (49) |  | (75) | (43) | (286) | (49) | (305) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | (97) | (1) | (23) | (57) | (121) | (98) | (148) |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | (36) | (129) | (23) | (24) | (20) | (165) | (135) |
| &nbsp;&nbsp;&nbsp;&nbsp;DDA overdrafts | (327) | (379) | (405) | (436) | (373) | (706) | (729) |
| &nbsp;&nbsp;&nbsp;Total charge-offs | (509) | (759) | (625) | (2675) | (901) | (1268) | (1755) |
| &nbsp;&nbsp;&nbsp;Recoveries: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 15 | 37 | 1 | 24 | 38 | 52 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 51 | 30 | 12 | 193 | 165 | 81 | 176 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate | 49 | 1 | 3 | 27 | 179 | 50 | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 96 | 4 | 17 | 13 | 38 | 100 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 25 | 9 | 15 | 25 | 24 | 34 | 122 |
| &nbsp;&nbsp;&nbsp;&nbsp;DDA overdrafts | 328 | 425 | 367 | 337 | 335 | 753 | 742 |
| &nbsp;&nbsp;&nbsp;Total recoveries | 564 | 506 | 415 | 619 | 779 | 1070 | 1378 |
| Net recoveries (charge-offs) | 55 | (253) | (210) | (2056) | (122) | (198) | (377) |
| &nbsp;&nbsp;&nbsp;(Recovery of) Provision for credit losses | (2000) |  | 300 | 1200 | 500 | (2000) | 320 |
| Balance at end of period | $19724 | $21669 | $21922 | $21832 | $22688 | $19724 | $22688 |
| Loans outstanding | $4339196 | $4285824 | $4274776 | $4157830 | $4112873 |  |  |
| Allowance as a percent of loans outstanding | 0.45% | 0.51% | 0.51% | 0.53% | 0.55% |  |  |
| Allowance as a percent of non-performing loans | 140.3% | 135.5% | 154.3% | 141.1% | 236.8% |  |  |
| Average loans outstanding | $4310222 | $4292794 | $4215962 | $4133520 | $4092464 | $4301556 | $4092497 |
| Net (recoveries) charge-offs (annualized) as a percent of average loans outstanding | (0.01)% | 0.02% | 0.02% | 0.20% | 0.01% | 0.01% | 0.02% |

---

------

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Asset Quality Information, Continued**

**(Unaudited) ($ in 000s)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| **Nonaccrual Loans** |  |  |  |  |  |
| Residential real estate | $3602 | $3226 | $2823 | $2596 | $3214 |
| Home equity | 283 | 269 | 212 | 109 | 63 |
| Commercial and industrial | 600 | 2781 | 3161 | 3631 | 3135 |
| Commercial real estate | 9515 | 9692 | 7833 | 9031 | 3118 |
| Consumer |  |  |  |  |  |
| &nbsp;&nbsp;**Total nonaccrual loans** | 14000 | 15968 | 14029 | 15367 | 9530 |
| Accruing loans past due 90 days or more | 63 | 26 | 182 | 102 | 50 |
| &nbsp;&nbsp;**Total non-performing loans** | 14063 | 15994 | 14211 | 15469 | 9580 |
| Other real estate owned | 185 | 457 | 754 | 729 | 629 |
| **Total Non-Performing Assets** | $14248 | $16451 | $14965 | $16198 | $10209 |
| Non-performing assets as a percent of loans and other real estate owned | 0.33% | 0.38% | 0.35% | 0.39% | 0.25% |
| **Past Due Loans** |  |  |  |  |  |
| Residential real estate | $6497 | $5936 | $7012 | $8205 | $7991 |
| Home equity | 788 | 892 | 902 | 1571 | 819 |
| Commercial and industrial |  | 4 |  | 57 | 1087 |
| Commercial real estate | 202 | 476 | 240 | 992 | 565 |
| Consumer | 163 | 9 | 273 | 161 | 97 |
| DDA overdrafts | 336 | 214 | 391 | 333 | 327 |
| **Total Past Due Loans** | $7986 | $7531 | $8818 | $11319 | $10886 |
| Total past due loans as a percent of loans outstanding | 0.18% | 0.18% | 0.21% | 0.27% | 0.26% |

---

------

**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Consolidated Average Balance Sheets, Yields, and Rates**

**(Unaudited) ($ in 000s)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **March 31, 2025** | **March 31, 2025** | **March 31, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | **Average**<br>**Balance** |<br>**Interest** | **Yield/**<br>**Rate** | **Average**<br>**Balance** |<br>**Interest** | **Yield/**<br>**Rate** | **Average**<br>**Balance** |<br>**Interest** | **Yield/**<br>**Rate** |
| **Assets:** | | | | | | | | | |
| Loan portfolio <sup>(1)</sup>: |  |  |  |  |  |  |  |  |  |
| Residential real estate <sup>(2)</sup> | $2068082 | $27015 | 5.24% | $2035999 | $26122 | 5.20% | $1969769 | $24763 | 5.06% |
| Commercial, financial, and agriculture <sup>(2)</sup> | 2184357 | 34640 | 6.36% | 2195307 | 33876 | 6.26% | 2055263 | 33524 | 6.56% |
| Installment loans to individuals <sup>(2), (3)</sup> | 57783 | 935 | 6.49% | 61488 | 919 | 6.06% | 67432 | 998 | 5.95% |
| &nbsp;&nbsp;&nbsp;**Total loans** | 4310222 | 62590 | 5.82% | 4292794 | 60917 | 5.76% | 4092464 | 59285 | 5.83% |
| Securities: |  |  |  |  |  |  |  |  |  |
| Taxable | 1416770 | 15347 | 4.34% | 1318675 | 13945 | 4.29% | 1302197 | 13947 | 4.31% |
| Tax-exempt <sup>(4)</sup> | 128165 | 902 | 2.82% | 134567 | 916 | 2.76% | 158894 | 1060 | 2.68% |
| &nbsp;&nbsp;&nbsp;**Total securities** | 1544935 | 16249 | 4.22% | 1453242 | 14861 | 4.15% | 1461091 | 15007 | 4.13% |
| Deposits in depository institutions | 147662 | 1644 | 4.47% | 164069 | 1802 | 4.45% | 139852 | 1920 | 5.52% |
| &nbsp;&nbsp;**Total interest-earning assets** | 6002819 | 80483 | 5.38% | 5910105 | 77580 | 5.32% | 5693407 | 76212 | 5.38% |
| Cash and due from banks | 94199 |  |  | 98843 |  |  | 103004 |  |  |
| Premises and equipment, net | 69523 |  |  | 70296 |  |  | 71491 |  |  |
| Goodwill and intangible assets | 159164 |  |  | 159714 |  |  | 161607 |  |  |
| Other assets | 291943 |  |  | 298473 |  |  | 316440 |  |  |
| Less: Allowance for loan losses | (22127) |  |  | (22285) |  |  | (22694) |  |  |
| **Total Assets** | $6595521 |  |  | $6515146 |  |  | $6323255 |  |  |
| **Liabilities:** |  |  |  |  |  |  |  |  |  |
| Interest-bearing demand deposits | $1343532 | $3332 | 0.99% | $1335691 | $3297 | 1.00% | $1320402 | $3845 | 1.17% |
| Savings deposits | 1247766 | 2302 | 0.74% | 1237116 | 2271 | 0.74% | 1248330 | 2232 | 0.72% |
| Time deposits <sup>(2)</sup> | 1283806 | 10858 | 3.39% | 1265163 | 11284 | 3.62% | 1125036 | 9820 | 3.51% |
| Customer repurchase agreements | 359626 | 3307 | 3.69% | 333562 | 3169 | 3.85% | 336434 | 3900 | 4.66% |
| FHLB long-term advances | 150000 | 1568 | 4.19% | 150000 | 1552 | 4.20% | 150000 | 1568 | 4.20% |
| &nbsp;&nbsp;**Total interest-bearing liabilities** | 4384730 | 21367 | 1.95% | 4321532 | 21573 | 2.02% | 4180202 | 21365 | 2.06% |
| Noninterest-bearing demand deposits | 1363481 |  |  | 1336365 |  |  | 1341642 |  |  |
| Other liabilities | 97480 |  |  | 104301 |  |  | 112301 |  |  |
| Stockholders' equity | 749830 |  |  | 752948 |  |  | 689110 |  |  |
| **Total Liabilities and Stockholders' Equity** | $6595521 |  |  | $6515146 |  |  | $6323255 |  |  |
| **Net Interest Income** |  | $59116 |  |  | $56007 |  |  | $54847 |  |
| **Net Yield on Earning Assets** |  |  | 3.95% |  |  | 3.84% |  |  | 3.87% |
| (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: | (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: | (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: | (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: | (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: | (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: | (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: | (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: | (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: | (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 |  | $6 |  |  | $201 |  |  | $60 |  |

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------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| (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: | (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: | (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: | (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: | (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: | (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 | $| 57 | $| 22 | 72 |
| Commercial, financial, and agriculture | 676 | 676 | 530 | 530 | 683 |
| Installment loans to individuals |  |  | 4 | 4 | 6 |
| Time deposits | 3 | 3 | 7 | 7 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $| 736 | $| 563 | 782 |
| (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (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%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (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** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | **Average**<br>**Balance** |<br>**Interest** | **Yield/**<br>**Rate** | **Average**<br>**Balance** |<br>**Interest** | **Yield/**<br>**Rate** |
| **Assets:** | | | | | | |
| Loan portfolio <sup>(1)</sup>: |  |  |  |  |  |  |
| Residential real estate <sup>(2)</sup> | $2051918 | $53137 | 5.22% | $1962337 | $48912 | 5.01% |
| Commercial, financial, and agriculture <sup>(2)</sup> | 2189980 | 68516 | 6.31% | 2062016 | 67504 | 6.58% |
| Installment loans to individuals <sup>(2), (3)</sup> | 59658 | 1853 | 6.26% | 68144 | 1997 | 5.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans** | 4301556 | 123506 | 5.79% | 4092497 | 118413 | 5.82% |
| Securities: |  |  |  |  |  |  |
| Taxable | 1367994 | 29292 | 4.32% | 1251253 | 25987 | 4.18% |
| Tax-exempt <sup>(4)</sup> | 131348 | 1817 | 2.79% | 159871 | 2111 | 2.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total securities** | 1499342 | 31109 | 4.18% | 1411124 | 28098 | 4.00% |
| Deposits in depository institutions | 155820 | 3446 | 4.46% | 127902 | 3490 | 5.49% |
| &nbsp;&nbsp;**Total interest-earning assets** | 5956718 | 158061 | 5.35% | 5631523 | 150001 | 5.36% |
| Cash and due from banks | 96508 |  |  | 100985 |  |  |
| Premises and equipment, net | 69907 |  |  | 71723 |  |  |
| Goodwill and intangible assets | 159438 |  |  | 161932 |  |  |
| Other assets | 295190 |  |  | 311358 |  |  |
| Less: Allowance for loan losses | (22206) |  |  | (22918) |  |  |
| **Total Assets** | $6555555 |  |  | $6254603 |  |  |
| **Liabilities:** |  |  |  |  |  |  |
| Interest-bearing demand deposits | $1339633 | $6629 | 1.00% | $1302135 | $7284 | 1.12% |
| Savings deposits | 1242470 | 4573 | 0.74% | 1251292 | 4505 | 0.72% |
| Time deposits <sup>(2)</sup> | 1274536 | 22142 | 3.50% | 1099059 | 18205 | 3.33% |
| Customer repurchase agreements | 346666 | 6476 | 3.77% | 325028 | 7521 | 4.65% |
| FHLB long-term advances | 150000 | 3120 | 4.19% | 143407 | 2991 | 4.19% |
| &nbsp;&nbsp;**Total interest-bearing liabilities** | 4353305 | 42940 | 1.99% | 4120921 | 40506 | 1.98% |
| Noninterest-bearing demand deposits | 1349998 |  |  | 1332091 |  |  |
| Other liabilities | 100872 |  |  | 113945 |  |  |
| Stockholders' equity | 751380 |  |  | 687646 |  |  |
| **Total Liabilities and Stockholders' Equity** | $6555555 |  |  | $6254603 |  |  |
| **Net Interest Income** |  | $115121 |  |  | $109495 |  |
| **Net Yield on Earning Assets** |  |  | 3.90% |  |  | 3.91% |
| (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: | (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: | (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: | (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: | (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: | (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: | (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 |  | $207 |  |  | $193 |  |

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|:---|:---|:---|:---|:---|
| (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: | (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: | (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: | (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: | (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 | $| 79 | $| 118 |
| Commercial, financial, and agriculture | 1206 | 1206 | 1747 | 1747 |
| Installment loans to individuals | 4 | 4 | 12 | 12 |
| Time deposits | 10 | 10 | 84 | 84 |
|  | $| 1299 | $| 1961 |
| (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (3) Includes the Company's consumer and DDA overdrafts loan categories. | (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%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. | (4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%. |

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**CITY HOLDING COMPANY AND SUBSIDIARIES**

**Non-GAAP Reconciliations**

**(Unaudited) ($ in 000s, except per share data)**

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Six Months Ended** | **Six Months Ended** |
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** | **June 30,**<br>**2025** | **June 30,**<br>**2024** |
| **Net Interest Income/Margin** |  |  |  |  |  |  |  |
| Net interest income ("GAAP") | $58924 | $55815 | $55580 | $55605 | $54625 | $114739 | $109052 |
| Taxable equivalent adjustment | 192 | 192 | 210 | 218 | 222 | 382 | 443 |
| &nbsp;&nbsp;&nbsp;Net interest income, fully taxable equivalent | $59116 | $56007 | $55790 | $55823 | $54847 | $115121 | $109495 |
| **Tangible Equity Ratio (period-end)** |  |  |  |  |  |  |  |
| Equity to assets ("GAAP") | 11.58% | 11.41% | 11.31% | 11.52% | 10.83% |  |  |
| Effect of goodwill and other intangibles, net | (2.18) | (2.18) | (2.25) | (2.26) | (2.33) |  |  |
| &nbsp;&nbsp;&nbsp;Tangible common equity to tangible assets | 9.40% | 9.23% | 9.06% | 9.26% | 8.50% |  |  |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Commercial Loan Information (period-end)** | **Commercial Loan Information (period-end)** | | | |
| **Commercial Sector** | **Total** |<br>**% of Total Loans** |<br>**Average DSC** |<br>**Average LTV** |
| Natural Gas Extraction | $38034 | 0.88% | 2.86 | NA |
| Natural Gas Distribution | 3022 | 0.07 | 2.55 | NA |
| Masonry Contractors | 26841 | 0.62 | 1.01 | 100% |
| Sheet Metal Work Manufacturing | 25095 | 0.58 | 1.40 | 68% |
| Beer & Ale Merchant Wholesalers | 25769 | 0.60 | 1.53 | NA |
| Gasoline Stations with Convenience Stores | 35248 | 0.82 | 5.07 | 65% |
| Lessors of Residential Buildings & Dwellings | 480270 | 11.11 | 1.64 | 67% |
| 1-4 Family | 186532 | 4.32 | 2.96 | 71% |
| Multi-Family | 200388 | 4.64 | 1.80 | 68% |
| Lessors of Nonresidential Buildings | 619128 | 14.33 | 1.42 | 65% |
| Office Buildings | 172851 | 4.00 | 1.65 | 62% |
| Lessors of Mini-Warehouses & Self-Storage Units | 55236 | 1.28 | 1.23 | 60% |
| Assisted Living Facilities | 26080 | 0.60 | 1.46 | 52% |
| Hotels & Motels | 380882 | 8.81 | 1.77 | 67% |
|  | **Average Balance** | **Median Balance** |  |  |
| Commercial Loans | $479 | $98 |  |  |
| Commercial Real Estate Loans | 550 | 127 |  |  |

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| | | |
|:---|:---|:---|
| **CITY HOLDING COMPANY AND SUBSIDIARIES** | **CITY HOLDING COMPANY AND SUBSIDIARIES** | **CITY HOLDING COMPANY AND SUBSIDIARIES** |
| **Non-GAAP Reconciliations, continued** | **Non-GAAP Reconciliations, continued** | **Non-GAAP Reconciliations, continued** |
| **(Unaudited) ($ in 000s, except per share data)** | **(Unaudited) ($ in 000s, except per share data)** | **(Unaudited) ($ in 000s, except per share data)** |
| **Estimated Uninsured Deposits by Deposit Type** | **Estimated Uninsured Deposits by Deposit Type** | **Estimated Uninsured Deposits by Deposit Type** |
| | **June 30, 2025** | **March 31, 2025** |
| Noninterest-Bearing Demand Deposits | 16% | 15% |
| Interest-Bearing Deposits |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Demand Deposits | 14% | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings Deposits | 12% | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Time Deposits | 17% | 17% |
| **Total Deposits** | **15%** | **15%** |
| The amounts listed above represent management's best estimate as of the respective period shown of uninsured deposits (either with balances above $250,000 or not collateralized by investment securities). | The amounts listed above represent management's best estimate as of the respective period shown of uninsured deposits (either with balances above $250,000 or not collateralized by investment securities). | The amounts listed above represent management's best estimate as of the respective period shown of uninsured deposits (either with balances above $250,000 or not collateralized by investment securities). |

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| | | | |
|:---|:---|:---|:---|
| **CITY HOLDING COMPANY AND SUBSIDIARIES** | **CITY HOLDING COMPANY AND SUBSIDIARIES** | **CITY HOLDING COMPANY AND SUBSIDIARIES** | |
| **Non-GAAP Reconciliations, continued** | **Non-GAAP Reconciliations, continued** | **Non-GAAP Reconciliations, continued** | |
| **(Unaudited) ($ in 000s, except per share data)** | **(Unaudited) ($ in 000s, except per share data)** | **(Unaudited) ($ in 000s, except per share data)** | |
| **Net Growth in DDA Accounts** | **Net Growth in DDA Accounts** | **Net Growth in DDA Accounts** | |
| **Year** | **New DDA Accounts** | **Net Number of New Accounts** |<br><br>**Percentage** |
| 2025 | 15926 | 2502 | 1.0% |
| 2024 | 32238 | 4497 | 1.8% |
| 2023\* | 31745 | 4768 | 1.9% |
| 2022 | 28442 | 4544 | 1.9% |
| 2021 | 32800 | 8860 | 3.8% |
| 2020 | 30360 | 6740 | 3.0% |
| 2019 | 32040 | 3717 | 1.7% |
| 2018\* | 30400 | 4310 | 2.2% |
| \* - amounts exclude accounts added in connection with the acquisitions of Poage Bankshares, Inc. (2018), Farmers Deposit Bancorp, Inc.(2018) and Citizens Commerce Bancshares, Inc. (2023). | \* - amounts exclude accounts added in connection with the acquisitions of Poage Bankshares, Inc. (2018), Farmers Deposit Bancorp, Inc.(2018) and Citizens Commerce Bancshares, Inc. (2023). | \* - amounts exclude accounts added in connection with the acquisitions of Poage Bankshares, Inc. (2018), Farmers Deposit Bancorp, Inc.(2018) and Citizens Commerce Bancshares, Inc. (2023). | \* - amounts exclude accounts added in connection with the acquisitions of Poage Bankshares, Inc. (2018), Farmers Deposit Bancorp, Inc.(2018) and Citizens Commerce Bancshares, Inc. (2023). |

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