Acquisitions boost City Holding earnings - Beckley, Bluefield & Lewisburg News, Weather, Sports

Acquisitions boost City Holding earnings

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • One Injured After Possible Stabbing

    One Injured After Possible Stabbing

    Thursday, August 28 2014 12:59 AM EDT2014-08-28 04:59:41 GMT
    Fayette County Emergency Dispatchers confirm that one person has been transported to the hospital after an unconfirmed stabbing in Mount Hope.
    Fayette County Emergency Dispatchers confirm that one person has been transported to the hospital after an unconfirmed stabbing in Mount Hope.
  • UPDATE: Search for suspects in Beckley shooting continues

    UPDATE: Search for suspects in Beckley shooting continues

    Wednesday, August 27 2014 6:38 PM EDT2014-08-27 22:38:57 GMT
    Three people are in the hospital Tuesday night after a shooting along Antonio Avenue in Beckley.Police said around 5 PM two men rushed up to a basketball game on a court near an apartment complex and started firing guns.Three men suffered injuries as a result.The three men were taken to a nearby hospital.Detective Morgan Bragg with Beckley Police said one man was in surgery around 6 PM Tuesday night.The other two men were in stable condition. Surveillance video from a camera near the basketba...
    Three people are in the hospital Tuesday night after a shooting along Antonio Avenue in Beckley.Police said around 5 PM two men rushed up to a basketball game on a court near an apartment complex and started firing guns.Three men suffered injuries as a result.The three men were taken to a nearby hospital.Detective Morgan Bragg with Beckley Police said one man was in surgery around 6 PM Tuesday night.The other two men were in stable condition. Surveillance video from a camera near the basketba...
  • 3rd annual Everett Lilly Memorial Festival to come to Raleigh County

    3rd annual Everett Lilly Memorial Festival to come to Raleigh County

    Wednesday, August 27 2014 6:22 PM EDT2014-08-27 22:22:37 GMT
    The 3rd annual Everett Lilly Memorial Festival is coming soon.You can celebrate the life of one of the forefathers of bluegrass music,while enjoying the live performances by The Lilly Mountaineers,Johnny Cochran, Idletymes and much more.
    The 3rd annual Everett Lilly Memorial Festival is coming soon.You can celebrate the life of one of the forefathers of bluegrass music,while enjoying the live performances by The Lilly Mountaineers,Johnny Cochran, Idletymes and much more.

City Holding Co. reported record earnings for the third quarter on Oct. 23.

City Holding said its net income in the quarter was $13.975 million, up from $10.607 million in the third quarter last year. The company ended the quarter with $3.4 billion in total assets, up from $2.9 billion as of Dec. 31, 2012.

City Holding Co. is the parent company of City National Bank of West Virginia. City National operates 83 branches across West Virginia, Virginia, Kentucky and Ohio.

The company's earnings release attributed the increase in net income mainly to the acquisitions of Virginia Savings Bank in the second quarter of 2012 and the acquisition of Community Financial Corp. in the first quarter of 2013.

"We continue to be very pleased with the results from our acquisitions of Virginia Savings Bank and Community Bank, especially with our success in resolving problem loans associated with these acquisitions," Charles Hageboeck, City Holding's CEO, said in the earnings release.

"Primarily as a result of our efforts to effectively work out a number of these problem loans, our past-due loans and other asset quality indicators continue to show improvement. While there is still work to be done in regards to credit-impaired loans, particularly those associated with Community Bank, we are pleased with our progress in resolving these acquired loans."