ex99-1.htm

Charleston, West Virginia – City Holding Company, “the Company” (NASDAQ:CHCO), a $2.5 billion bank holding company headquartered in Charleston, today announced record net income per diluted share for the first quarter of $0.80 compared to $0.76 per diluted share in the first quarter of 2007, or a 5.3% increase. Net income for the first quarter of 2008 was $13.0 million, a decrease of 1.5% from $13.2 million in the first quarter of 2007. For the first quarter of 2008, the Company achieved a return on assets of 2.09%, a return on tangible equity of 21.6%, a net interest margin of 4.40%, and an efficiency ratio of 48.2%. This compares with a return on assets of 2.10%, a return on equity of 21.2%, a net interest margin of 4.41%, and an efficiency ratio of 44.9% for the comparable period of 2007.

The Company’s tax equivalent net interest income decreased $0.6 million, or 2.2%, from $24.7 million during the first quarter of 2007 to $24.1 million during the first quarter of 2008. This decrease is primarily attributable to two factors. First, the Company experienced a decrease of $0.2 million in interest income from previously securitized loans in the first quarter of 2008 as compared to the first quarter of 2007 as the average balance of these loans decreased 55.3%. The decrease in average balances was partially mitigated by an increase in the yield on these loans from 49.5% for the first quarter of 2007 and 93.2% for the fourth quarter of 2007 to 98.8% for the first quarter of 2008 (see Previously Securitized Loans). The remaining decrease in net interest income of $0.4 million occurred as interest income from loans (excluding Previously Securitized loans) and investments decreased more quickly than the interest expense on deposits and other interest-bearing liabilities. The Company’s net interest margin was 4.40% in the first quarter of 2008 as compared to 4.41% in the first quarter of 2007. Excluding the previously securitized loans, the Company’s net interest margin decreased 3 basis points from 4.18% during the first quarter of 2007 to 4.15% for the first quarter of 2008.

As a result of the Company’s quarterly analysis of the adequacy of the ALLL, the Company recorded a provision for loan losses of $1.6 million in the first quarter of 2008 compared to $0.9 million for the comparable period in 2007 and $1.65 million in the fourth quarter of 2007. The provision for loan losses recorded during the first quarter of 2008 reflects the difficulties of certain commercial borrowers of the Company during the quarter, the downgrade of their related credits, and management’s assessment of the impact of these difficulties on the ultimate collectability of the loans. Changes in the amount of the provision and related allowance are based on the Company’s detailed methodology and are directionally consistent with growth and changes in the composition and quality of the Company’s loan portfolio. The Company believes its methodology for determining the adequacy of its ALLL adequately provides for probable losses inherent in the loan portfolio and produces a provision and allowance for loan losses that is directionally consistent with changes in asset quality and loss experience.

The Company’s ratio of non-performing assets to total loans and other real estate owned increased slightly from 1.20% at December 31, 2007 to 1.21% at March 31, 2008. Based on our analysis, the Company believes that the reserves allocated to the substandard and nonperforming loans after considering the value of the collateral securing such loans are adequate to cover losses that may result from these loans. The Company’s ratio of non-performing assets to total loans and other real estate owned is 26 basis points lower than that of our peer group (bank holding companies with total assets between $1 and $5 billion), which reported average non-performing assets as a percentage of loans and other real estate owned of 1.47% for the most recently reported quarter ended December 31, 2007.

During the first quarter of 2008, the Company recognized a $3.3 million gain in connection with Visa’s successful initial public offering (“IPO”) completed in March 2008. The Company received approximately $2.3 million on the partial redemption of its equity interest in Visa. The Company’s remaining Class B shares will be converted to Class A shares on the third anniversary of Visa’s IPO or upon Visa’s settlement of certain litigation matters, whichever is later. The unconverted Class B shares are not reflected in the Company’s balance sheet at March 31, 2008 as the Company has no historical basis in these shares. Visa also escrowed a portion of the proceeds from the IPO to satisfy approximately $1.0 million of liabilities

Exclusive of investment gains, the gain from the Visa IPO, and the gain from the sale of the Company’s merchant credit card portfolio in the first quarter of 2007, non-interest income increased $0.8 million to $13.7 million in the first quarter of 2008 as compared to $12.9 million in the first quarter of 2007. The largest source of non-interest income is service charges from depository accounts, which increased $0.9 million, or 9.2%, from $10.1 million during the first quarter of 2007 to $11.0 million during the first quarter of 2008.

During the first quarter of 2008, the Company fully redeemed $16.0 million of 9.15% trust preferred securities that had been issued in 1998. As a result of this redemption, the Company incurred charges of $1.2 million to fully amortize issuance costs incurred in 1998 and for the early redemption premium. Excluding the loss on the early redemption of the trust preferred securities, non-interest expenses increased $1.1 million from $17.6 million in the first quarter of 2007 to $18.7 million in the first quarter of 2008. Salaries and employee benefits increased $0.3 million, or 3.4%, from the first quarter of 2007 due in part to additional staffing for new retail locations. Other expenses also include increased charitable contributions of approximately $0.5 million. The Company anticipates charitable contributions of up to an additional $0.5 million during the remainder of 2008. This increase in charitable contributions for 2008 reflects the Company’s exceptionally strong financial performance between 2002 and 2007. This special charitable giving for 2008, which is above normal levels, is given in appreciation of our employees who have led City to the pinnacle of financial performance during that period and our loyal customers throughout each community in which we operate.

At March 31, 2008, the Company reported “Previously Securitized Loans” of $6.0 million compared to $6.9 million at December 31, 2007 and $12.7 million at March 31, 2007, respectively, representing a decrease of 12.6% and 52.7%, respectively. The yield on the previously securitized loans was 98.8% for the quarter ended March 31, 2008, compared to 93.2% for the quarter ended December 31, 2007, and 49.5% for the quarter ended March 31, 2007. The yield on the previously securitized loans has increased due to improved cash flows as net default rates have been less than previously estimated. The default rates have decreased as a result of the Company’s assumption of the servicing of all of the pool balances during the second quarter of 2005. Subsequent to our assumption of the servicing of these loans, the Company has averaged net recoveries, but does not believe that continued net recoveries can be sustained indefinitely.

One of the Company’s strengths is that it is highly profitable while maintaining strong liquidity and capital. With respect to liquidity, the Company’s loan to deposit ratio was 84.5% and the loan to asset ratio was 67.5% at March 31, 2008. The Company maintained investment securities totaling 19.7% of assets as of this date. Further, the Company’s deposit mix is weighted heavily toward checking and saving accounts that fund 43.3% of assets at March 31, 2008. Time deposits fund 36.7% of assets at March 31, 2008, but very few of these deposits are in accounts that have balances of more than $150,000, reflecting the core retail orientation of the Company.

On February 27, 2008 the Board approved a 10% increase in the quarterly cash dividend to 34 cents per share payable April 30, 2008 to shareholders of record as of April 15, 2008. During the quarter ended March 31, 2008, the Company repurchased 104,960 common shares at a weighted average price of $35.37 as part of a one million share repurchase plan authorized by the Board of Directors in August 2007. The Company’s tangible equity ratio was 10.0% at March 31, 2008 compared with a tangible equity ratio of 9.7% at December 31,

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. Such information involves risks and uncertainties that could result in the Company's actual results differing from those projected in the forward-looking statements. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include, but are not limited to, (1) the Company may incur additional loan loss provision due to negative credit quality trends in the future that may lead to a deterioration of asset quality; (2) the Company may incur increased charge-offs in the future; (3) the Company may experience increases in the default rates on previously securitized loans that would result in impairment losses or lower the yield on such loans; (4) the Company may continue to benefit from strong recovery efforts on previously securitized loans resulting in improved yields on these assets; (5) the Company could have adverse legal actions of a material nature; (6) the Company may face competitive loss of customers; (7) the Company may be unable to manage its expense levels; (8) the Company may have difficulty retaining key employees; (9) changes in the interest rate environment may have results on the Company’s operations materially different from those anticipated by the Company’s market risk management functions; (10) changes in general economic conditions and increased competition could adversely affect the Company’s operating results; (11) changes in other regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact the Company’s operating results; and (12) the Company may experience difficulties growing loan and deposit balances. 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.

CITY HOLDING COMPANY AND SUBSIDIARIES
Financial Highlights
(Unaudited)


	Three Months Ended March 31,						Percent
	2008			2007			Change

Earnings ($000s, except per share data):
Net Interest Income (FTE)	$	24,133		$	24,671			(2.18	)%
Net Income		13,038			13,231			(1.46	)%
Earnings per Basic Share		0.81			0.76			6.58	%
Earnings per Diluted Share		0.80			0.76			5.26	%


Key Ratios (percent):
Return on Average Assets		2.09	%		2.10	%		(0.54	)%
Return on Average Tangible Equity		21.55	%		21.15	%		1.92	%
Net Interest Margin		4.40	%		4.41	%		(0.21	)%
Efficiency Ratio		48.17	%		44.93	%		7.21	%
Average Shareholders' Equity to Average Assets		12.03	%		12.27	%		(1.99	)%

Consolidated Risk Based Capital Ratios (a):
Tier I		13.96	%		15.31	%		(8.82	)%
Total		14.97	%		16.25	%		(7.88	)%

Tangible Equity to Tangible Assets		10.00	%		9.79	%		2.23	%


Common Stock Data:
Cash Dividends Declared per Share	$	0.34		$	0.31			9.68	%
Book Value per Share		18.92			17.62			7.40	%
Tangible Book Value per Share		15.32			14.21			7.79	%
Market Value per Share:
High		41.37			41.54			(0.41	)%
Low		32.51			38.04			(14.54	)%
End of Period		39.90			40.45			(1.36	)%

Price/Earnings Ratio (b)		12.31			13.31			(7.45	)%


(a) March 31, 2008 risk-based capital ratios are estimated
(b) March 31, 2008 price/earnings ratio computed based on annualized first quarter 2008 earnings

CITY HOLDING COMPANY AND SUBSIDIARIES
Financial Highlights
(Unaudited)



Book Value and Market Price Range per Share
									Market Price
	Book Value per Share								Range per Share
	March 31		June 30		September 30		December 31		Low		High

2004	$	12.09	$	11.89	$	12.70	$	13.03	$	27.30	$	37.58
2005		13.20		15.56		15.99		16.14		27.57		39.21
2006		16.17		16.17		16.99		17.46		34.53		41.87
2007		17.62		17.40		17.68		18.14		31.16		41.54
2008		18.92								32.51		41.37


Earnings per Basic Share

	Quarter Ended
	March 31		June 30		September 30		December 31		Year-to-Date

2004	$	0.66	$	0.80	$	0.66	$	0.67	$	2.79
2005		0.70		0.72		0.73		0.72		2.87
2006		0.71		0.78		0.78		0.74		3.00
2007		0.76		0.72		0.76		0.78		3.02
2008		0.81								0.81


Earnings per Diluted Share

	Quarter Ended
	March 31		June 30		September 30		December 31		Year-to-Date

2004	$	0.65	$	0.79	$	0.65	$	0.66	$	2.75
2005		0.69		0.71		0.72		0.72		2.84
2006		0.71		0.77		0.77		0.74		2.99
2007		0.76		0.72		0.76		0.78		3.01
2008		0.80								0.80

CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Statements of Income
(Unaudited) ($ in 000s, except per share data)

	Three Months Ended March 31,
	2008		2007

Interest Income
Interest and fees on loans	$	30,992	$	31,464
Interest on investment securities:
Taxable		6,064		6,933
Tax-exempt		399		427
Interest on deposits in depository institutions		65		117
Interest on federal funds sold		-		257
Total Interest Income		37,520		39,198

Interest Expense
Interest on deposits		12,015		12,712
Interest on short-term borrowings		1,145		1,513
Interest on long-term debt		441		531
Total Interest Expense		13,601		14,756
Net Interest Income		23,919		24,442
Provision for loan losses		1,600		900
Net Interest Income After Provision for Loan Losses		22,319		23,542

Non-Interest Income
Investment securities gains		2		-
Service charges		10,991		10,063
Insurance commissions		1,038		1,012
Trust and investment management fee income		632		568
Bank owned life insurance		676		696
Gain on sale of credit card merchant agreements		-		1,500
VISA IPO Gain		3,289		-
Other income		407		532
Total Non-Interest Income		17,035		14,371

Non-Interest Expense
Salaries and employee benefits		9,363		9,057
Occupancy and equipment		1,597		1,637
Depreciation		1,133		1,070
Professional fees		367		403
Postage, delivery, and statement mailings		654		777
Advertising		617		852
Telecommunications		418		455
Bankcard expenses		621		518
Insurance and regulatory		338		385
Office supplies		457		455
Repossessed asset losses (gains), net of expenses		32		(14	)
Loss on early extinguishment of debt		1,208		-
Other expenses		3,094		2,021
Total Non-Interest Expense		19,899		17,616
Income Before Income Taxes		19,455		20,297
Income tax expense		6,417		7,066
Net Income	$	13,038	$	13,231

Basic earnings per share	$	0.81	$	0.76
Diluted earnings per share	$	0.80	$	0.76
Average Common Shares Outstanding:
Basic		16,147		17,369
Diluted		16,205		17,424

CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Statements of Changes in Stockholders' Equity
(Unaudited) ($ in 000s)


	Three Months Ended
	March 31, 2008			March 31, 2007

Balance at January 1	$	293,994		$	305,307

Cumulative effect of adopting FIN 48		-			(125	)
Net income		13,038			13,231
Other comprehensive income:
Change in unrealized gain on securities available-for-sale		1,748			723
Change in unrealized gain on interest rate floors		4,899			122
Cash dividends declared ($0.34/share)		(5,476	)		-
Cash dividends declared ($0.31/share)		-			(5,342	)
Issuance of stock award shares, net		273			264
Exercise of 5,700 stock options		76			-
Exercise of 5,300 stock options		-			82
Excess tax benefits on stock compensation		6			-
Purchase of 104,960 common shares of treasury		(3,717	)		-
Purchase of 274,300 common shares of treasury		-			(10,908	)
Balance at March 31	$	304,841		$	303,354

CITY HOLDING COMPANY AND SUBSIDIARIES
Condensed Consolidated Quarterly Statements of Income
(Unaudited) ($ in 000s, except per share data)

	Quarter Ended
	March 31			Dec. 31			Sept. 30			June 30			March 31
	2008			2007			2007			2007			2007

Interest income	$	37,520		$	38,989		$	39,597		$	39,530		$	39,198
Taxable equivalent adjustment		214			226			224			231			230
Interest income (FTE)		37,734			39,215			39,821			39,761			39,428
Interest expense		13,601			14,950			15,374			15,196			14,756
Net interest income		24,133			24,265			24,447			24,565			24,672
Provision for loan losses		1,600			1,650			1,200			1,600			900
Net interest income after provision
for loan losses		22,533			22,615			23,247			22,965			23,772

Noninterest income		17,035			14,281			13,814			13,689			14,371
Noninterest expense		19,899			17,861			18,031			17,525			17,616
Income before income taxes		19,669			19,035			19,030			19,129			20,527
Income tax expense		6,417			6,051			6,092			6,576			7,066
Taxable equivalent adjustment		214			226			224			231			230
Net income	$	13,038		$	12,758		$	12,714		$	12,322		$	13,231



Basic earnings per share	$	0.81		$	0.78		$	0.76		$	0.72		$	0.76
Diluted earnings per share		0.80			0.78			0.76			0.72			0.76
Cash dividends declared per share		0.34			0.31			0.31			0.31			0.31


Average Common Share (000s):
Outstanding		16,147			16,359			16,714			17,100			17,369
Diluted		16,205			16,414			16,767			17,158			17,424

Net Interest Margin		4.40	%		4.32	%		4.32	%		4.32	%		4.41	%

CITY HOLDING COMPANY AND SUBSIDIARIES
Non-Interest Income and Non-Interest Expense
(Unaudited) ($ in 000s)

	Quarter Ended
	March 31		Dec. 31			Sept. 30			June 30		Mar 31
	2008		2007			2007			2007		2007

Non-Interest Income:
Service charges	$	10,991	$	11,735		$	11,192		$	11,426	$	10,063
Insurance commissions		1,038		1,119			1,127			832		1,012
Trust and investment management fee income		632		514			523			437		568
Bank owned life insurance		676		600			596			585		696
Other income		407		312			377			364		532
Subtotal		13,744		14,280			13,815			13,644		12,871
Investment securities gains (losses)		2		1			(1	)		45		-
VISA IPO Gain		3,289		-			-			-		-
Gain on sale of credit card merchant agreements		-		-			-			-		1,500
Total Non-Interest Income	$	17,035	$	14,281		$	13,814		$	13,689	$	14,371

Non-Interest Expense:
Salaries and employee benefits	$	9,363	$	8,759		$	9,307		$	8,912	$	9,057
Occupancy and equipment		1,597		1,604			1,600			1,525		1,637
Depreciation		1,133		1,133			1,160			1,109		1,070
Professional fees		367		424			416			385		403
Postage, delivery, and statement mailings		654		601			641			569		777
Advertising		617		590			801			880		852
Telecommunications		418		456			438			460		455
Bankcard expenses		621		617			623			597		518
Insurance and regulatory		338		422			364			383		385
Office supplies		457		469			472			442		455
Repossessed asset losses (gains), net of expenses		32		(105	)		(47	)		9		(14	)
Loss on early extinguishment of debt		1,208		-			-			-		-
Other expenses		3,094		2,891			2,256			2,254		2,021
Total Non-Interest Expense	$	19,899	$	17,861		$	18,031		$	17,525	$	17,616




Employees (Full Time Equivalent)		821		811			808			807		791
Branch Locations		69		69			68			68		68

CITY HOLDING COMPANY AND SUBSIDIARIES
Consolidated Balance Sheets
($ in 000s)
	March 31			December 31
	2008			2007
	(Unaudited)
Assets
Cash and due from banks	$	65,705		$	64,726
Interest-bearing deposits in depository institutions		11,252			9,792
Cash and cash equivalents		76,957			74,518

Investment securities available-for-sale, at fair value		464,215			382,098
Investment securities held-to-maturity, at amortized cost		33,748			34,918
Total investment securities		497,963			417,016

Gross loans		1,704,800			1,767,021
Allowance for loan losses		(18,567	)		(17,581	)
Net loans		1,686,233			1,749,440

Bank owned life insurance		68,143			64,467
Premises and equipment		54,144			54,635
Accrued interest receivable		10,562			11,254
Net deferred tax assets		16,019			20,633
Intangible assets		58,065			58,238
Other assets		56,842			32,566
Total Assets	$	2,524,928		$	2,482,767

Liabilities
Deposits:
Noninterest-bearing	$	310,646		$	314,231
Interest-bearing:
Demand deposits		420,328			397,510
Savings deposits		362,041			350,607
Time deposits		925,630			927,733
Total deposits		2,018,645			1,990,081
Short-term borrowings		139,378			161,916
Long-term debt		21,425			4,973
Other liabilities		40,639			31,803
Total Liabilities		2,220,087			2,188,773

Stockholders' Equity
Preferred stock, par value $25 per share: 500,000 shares authorized; none issued		-			-
Common stock, par value $2.50 per share: 50,000,000 shares authorized;
18,499,282 shares issued at March 31, 2008 and December 31, 2007
less 2,383,242 and 2,292,357 shares in treasury, respectively		46,249			46,249
Capital surplus		103,276			103,390
Retained earnings		231,948			224,386
Cost of common stock in treasury		(83,912	)		(80,664	)
Accumulated other comprehensive income:
Unrealized loss on securities available-for-sale		(35	)		(1,783	)
Unrealized gain on derivative instruments		9,289			4,390
Underfunded pension liability		(1,974	)		(1,974	)
Total Accumulated Other Comprehensive Income		7,280			633
Total Stockholders' Equity		304,841			293,994
Total Liabilities and Stockholders' Equity	$	2,524,928		$	2,482,767

CITY HOLDING COMPANY AND SUBSIDIARIES
Loan Portfolio
(Unaudited) ($ in 000s)

	March 31		Dec 31		Sept 30		June 30			March 31
	2008		2007		2007		2007			2007

Residential real estate	$	605,579	$	602,057	$	600,094	$	601,045		$	596,412
Home equity		347,986		341,818		338,161		330,203			324,653
Commercial, financial, and agriculture		699,653		707,987		666,960		681,388			663,183
Loans to depository institutions		-		60,000		60,000		60,000			50,000
Installment loans to individuals		45,557		48,267		46,244		47,397			44,756
Previously securitized loans		6,025		6,892		8,317		10,321			12,744
Gross Loans	$	1,704,800	$	1,767,021	$	1,719,776	$	1,730,354		$	1,691,748






CITY HOLDING COMPANY AND SUBSIDIARIES
Previously Securitized Loans
(Unaudited) ($ in millions)
					Annualized		Effective
			December 31		Interest		Annualized
	Year Ended:		Balance (a)		Income (a)		Yield (a)

	2007		$	6.9	$	7.3		69	%
	2008			4.8		5.7		98	%
	2009			3.5		4.1		98	%
	2010			3.0		3.2		98	%
	2011			2.4		2.7		98	%

a - 2007 amounts are based on actual results. 2008 amounts are based on actual results through March 31, 2008 and estimated amounts for the remainder of the year. 2009, 2010, and 2011 amounts are based on estimated amounts.


Note: The amounts reflected in the table above require management to make significant assumptions based on estimated future default, prepayment, and discount rates. Actual performance could be significantly different from that assumed, which could result in the actual results being materially different from the amounts estimated above.

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

	Three Months Ended March 31,
				2008								2007
	Average					Yield/			Average					Yield/
	Balance			Interest		Rate			Balance			Interest		Rate

Assets:
Loan portfolio:
Residential real estate	$	601,600		$	9,886		6.61	%	$	594,504		$	8,854		6.04	%
Home equity		343,658			5,912		6.92	%		322,647			6,242		7.85	%
Commercial, financial, and agriculture		700,155			12,234		7.03	%		667,073			12,689		7.71	%
Loans to depository institutions		4,670			35		3.01	%		49,444			654		5.36	%
Installment loans to individuals		47,629			1,346		11.37	%		42,903			1,269		12.00	%
Previously securitized loans		6,421			1,578		98.84	%		14,375			1,756		49.54	%
Total loans		1,704,133			30,991		7.31	%		1,690,946			31,464		7.55	%
Securities:
Taxable		455,663			6,064		5.35	%		505,585			6,933		5.56	%
Tax-exempt		37,723			614		6.55	%		40,413			658		6.60	%
Total securities		493,386			6,678		5.44	%		545,998			7,591		5.64	%
Deposits in depository institutions		8,697			65		3.01	%		13,033			117		3.64	%
Federal funds sold		-			-		-			19,533			256		5.32	%
Total interest-earning assets		2,206,216			37,734		6.88	%		2,269,510			39,428		7.05	%
Cash and due from banks		65,442								50,129
Bank premises and equipment		54,709								44,968
Other assets		186,273								169,046
Less: Allowance for loan losses		(17,837	)							(15,636	)
Total assets	$	2,494,803							$	2,518,017

Liabilities:
Interest-bearing demand deposits		409,745			712		0.70	%		430,201			1,332		1.26	%
Savings deposits		360,587			1,104		1.23	%		330,023			1,307		1.61	%
Time deposits		933,502			10,199		4.39	%		921,937			10,074		4.43	%
Short-term borrowings		127,793			1,145		3.60	%		146,455			1,512		4.19	%
Long-term debt		22,505			441		7.88	%		32,434			532		6.65	%
Total interest-bearing liabilities		1,854,132			13,601		2.95	%		1,861,050			14,757		3.22	%
Noninterest-bearing demand deposits		311,885								316,716
Other liabilities		28,770								31,234
Stockholders' equity		300,016								309,017
Total liabilities and
stockholders' equity	$	2,494,803							$	2,518,017
Net interest income				$	24,133							$	24,671
Net yield on earning assets							4.40	%							4.41	%

CITY HOLDING COMPANY AND SUBSIDIARIES
Analysis of Risk-Based Capital
(Unaudited) ($ in 000s)

	March 31			Dec 31			Sept 30			June 30			March 31
	2008 (a)			2007			2007			2007			2007

Tier I Capital:
Stockholders' equity	$	304,841		$	293,994		$	291,720		$	294,783		$	303,354
Goodwill and other intangibles		(58,065	)		(58,238	)		(58,328	)		(58,504	)		(58,681	)
Accumulated other comprehensive (income) loss		(7,280	)		(633	)		4,396			8,647			2,014
Qualifying trust preferred stock		16,000			16,000			16,000			16,000			16,000
Unrealized Loss on AFS securities		(275	)		(247	)		(94	)		(97	)		-
Excess deferred tax assets		-			-			-			(342	)		-
Total tier I capital	$	255,221		$	250,876		$	253,694		$	260,486		$	262,374


Total Risk-Based Capital:
Tier I capital	$	255,221		$	250,876		$	253,694		$	260,486		$	262,687
Qualifying allowance for loan losses		18,567			17,581			16,980			16,616			16,082
Total risk-based capital	$	273,788		$	268,457		$	270,674		$	277,102		$	278,456

Net risk-weighted assets	$	1,828,559		$	1,776,158		$	1,709,486		$	1,719,540		$	1,715,664


Ratios:
Average stockholders' equity to average assets		12.03	%		11.84	%		11.82	%		12.11	%		12.27	%
Tangible capital ratio		10.00	%		9.72	%		9.59	%		9.58	%		9.79	%
Risk-based capital ratios:
Tier I capital		13.96	%		14.12	%		14.84	%		15.15	%		15.31	%
Total risk-based capital		14.97	%		15.11	%		15.83	%		16.11	%		16.25	%
Leverage capital		10.47	%		10.31	%		10.38	%		10.52	%		10.68	%


(a) March 31, 2008 risk-based capital ratios are estimated




CITY HOLDING COMPANY AND SUBSIDIARIES
Intangibles
(Unaudited) ($ in 000s)

	As of and for the Quarter Ended
	March 31			Dec 31			Sept 30			June 30			March 31
	2008			2007			2007			2007			2006

Intangibles, net	$	58,065		$	58,238		$	58,328		$	58,504		$	58,681
Intangibles amortization expense		173			177			176			177			176

CITY HOLDING COMPANY AND SUBSIDIARIES
Summary of Loan Loss Experience
(Unaudited) ($ in 000s)

	Quarter Ended
	March 31			Dec 31			Sept 30			June 30			March 31
	2008			2007			2007			2007			2007

Balance at beginning of period	$	17,581		$	16,980		$	16,616		$	16,083		$	15,405

Charge-offs:
Commercial, financial, and agricultural		406			359			-			120			35
Real estate-mortgage		274			203			240			452			111
Installment loans to individuals		75			108			91			60			84
Overdraft deposit accounts		622			938			1,035			956			860
Total charge-offs		1,377			1,608			1,366			1,588			1,090

Recoveries:
Commercial, financial, and agricultural		13			23			19			41			148
Real estate-mortgage		27			35			22			15			15
Installment loans to individuals		108			97			89			98			132
Overdraft deposit accounts		615			404			400			367			573
Total recoveries		763			559			530			521			868

Net charge-offs		614			1,049			836			1,067			222
Provision for loan losses		1,600			1,650			1,200			1,600			900
Balance at end of period	$	18,567		$	17,581		$	16,980		$	16,616		$	16,083

Loans outstanding	$	1,704,800		$	1,767,021		$	1,719,776		$	1,730,354		$	1,691,748
Average loans outstanding		1,704,133			1,739,166			1,729,267			1,710,989			1,690,946
Allowance as a percent of loans outstanding		1.09	%		1.00	%		0.99	%		0.96	%		0.95	%
Allowance as a percent of non-performing loans		113.55	%		103.28	%		86.47	%		145.11	%		235.75	%
Net charge-offs (annualized) as a
percent of average loans outstanding		0.14	%		0.24	%		0.19	%		0.25	%		0.05	%
Net charge-offs, excluding overdraft deposit
accounts, (annualized) as a percent of average loans outstanding		0.14	%		0.12	%		0.05	%		0.11	%		(0.02	)%

CITY HOLDING COMPANY AND SUBSIDIARIES
Summary of Non-Performing Assets
(Unaudited) ($ in 000s)

	March 31			Dec 31			Sept 30			June 30			March 31
	2008			2007			2007			2007			2007

Nonaccrual loans	$	15,840		$	16,437		$	18,896		$	11,194		$	6,714
Accruing loans past due 90 days or more		257			390			566			212			108
Previously securitized loans past due 90 days or more		255			198			176			45			-
Total non-performing loans		16,352			17,025			19,638			11,451			6,822
Other real estate owned, excluding property associated
with previously securitized loans		4,192			4,163			1,091			624			290
Other real estate owned associated with previously
securitized loans		148			-			405			231			252
Other real estate owned		4,340			4,163			1,496			855			542
Total non-performing assets	$	20,692		$	21,188		$	21,134		$	12,306		$	7,364

Non-performing assets as a percent of loans and
other real estate owned		1.21	%		1.20	%		1.23	%		0.71	%		0.44	%



CITY HOLDING COMPANY AND SUBSIDIARIES
Summary of Total Past Due Loans
(Unaudited) ($ in 000s)

	March 31			Dec 31			Sept 30			June 30			March 31
	2008			2007			2007			2007			2007

Residential real estate	$	3,763		$	5,480		$	4,500		$	3,354		$	2,372
Home equity		1,344			2,141			1,075			879			999
Commercial, financial, and agriculture		806			1,506			311			2,248			1,185
Loans to depository institutions		-			-			-			-			-
Installment loans to individuals		360			385			279			370			283
Previously securitized loans		897			1,099			948			799			596
Overdraft deposit accounts		568			612			575			692			500
Total past due loans	$	7,738		$	11,223		$	7,688		$	8,342		$	5,935