8-K

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)

May 4, 2010

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, WV 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))

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Section 7 – Regulation FD

Item 7.01 – Regulation FD Disclosure.

On May 4, 2010, Charles R. (Skip) Hageboeck, President and CEO of City Holding Company (“the Company) delivered a presentation regarding the Company’s financial performance to a group of analysts and investors at the RBC Capital Markets Financial Institutions Conference held in Boston, MA.

Copies of the slides used in the presentation will be available on the Company’s web site at www.cityholding.com and are attached as Exhibit 99.1 and incorporated herein by reference.

This Report, including its exhibit, which is furnished under Section 7, Item 7.01 of Form 8-K, is not to be deemed an admission as to the materiality of any information in the Report that is required to be disclosed by Regulation FD.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

99.1 Copy of slide presentation

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: May 5, 2010	City Holding Company
By:	/s/ David L. Bumgarner
	David L. Bumgarner
	Chief Financial Officer

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EX-99.1

RBC Capital Markets

May 2010

Forward Looking Statements

nTotal Assets $2.6 bil

nBranches67

nFTE815

nMarket Cap$560 mil

nInstitutional Ownership62%

nAverage Daily Volume$2.7 mil

Date: April 20, 2010

City Holding Company:

nMarkets:Operates an extremely strong
retail/commercial franchise in stable markets with
disciplined competition

nAsset Quality:Strong compared to peers and City’s
management has recognized and dealt with issues

nPerformance:Has Consistently outperformed
peers with respect to earnings, capital, and liquidity

nGrowth:Growing and succeeding in slow-growth
stable markets with targeted expansion into new
markets

1st Branch Share & 9% Deposit Share

in Huntington WV/Ashland KY MSA

$3.8 Billion

1st Branch Share & 10% Deposit Share

in WV’s largest market; $5.3B

1st & 27% Deposit Share

$2.0 Billion

2nd Branch Share & 8% Deposit

Share in Morgan, Berkeley

& Jefferson Co. WV

$1.9 Billion

Key Markets

Asset Quality: a function of culture
and market

•City’s Loans are 60% Retail/40% Commercial

•City’s market area tends to be more stable

•Real Estate prices in City’s market area have

been relatively stable

•City’s Past-due loan trends are stable

•City’s non-performing asset levels are

stronger than peers

•City has been aggressive about charging

down non-performing loans

Loan to Deposits 82.8%

Loan to Deposits 86.5%

Sample of 296 publicly traded banks
and thrifts with assets between $1-$10
billion as of December 31, 2009

As of December 31, 2009

Retail Loan Facts:

•Residential RE are 1,3,5 and 10 Yr ARMs

•No Sub-prime, Interest-only, Option Adjustable

•Home Equity loans include LOCs, fixed amortizing
loans, non-purchase adjustable loans

•65% of Home Equity Loans are 1st Lien Position

•66% of Home Equity Loans have a LTV < 80%.

•Ave Loan Balance for Residential RE is $78,000

•Ave Loan Balance for Home Equity loans is $35,000

Stable Past-Due Loans (30+ days)

NPA’s to Loans & OREO

34%

46%

Commercial
$3.026 MM

$1.367MM

Net Charge-offs

2009: Net C/O$10.6 MM

Provision$7.1 MM

Net C/O 0.59% of Average Loans

Greenbrier Resort Speculative
Properties - 3/31/10

Original Loan Balances$ 18.2 MM

Current Loan Book Balance net of reserves$3.8 MM

OREO after Charge-off’s$7.8 MM

On-Balance Sheet:$ 12.6 MM

(64% oforig loan)

Investment Portfolio at 12/31/09

	Original Cost	Other than Temporary Credit Impairment Charges (Cumm)	Unrealized Gains/ (Losses)	Carrying Value
Municipals	$54.5	$0	$0.7	$55.2
MBS	$280.8	$0	$8.9	$289.7
Pool Bank Trust Pfd	$29.6	($18.2)	($4.6)	$6.8
Single Issue Bank Trust Pfd; Bank Holding Company Pfd; Sub-debt of FI’s	$107.0	($1.6)	$0	$105.4
Money Markets & Mutual Funds	$80.2	$0	$0	$80.2
Fed & FHLB Stock	$ 12.9	$0	$0	$12.9
Bank Equities	$ 10.1	($1.7)	($2.9)	$5.4

Performance: CHCO has been
consistently among the strongest:

	2005	2006	2007	2008	2009	2009 Peers** Median
Reported ROA	2.09%	2.11%	2.03%	1.12%	1.63%	0.46% - 95th %ile
ROTE	22.3%	22.4%	21.0%	11.4%	18.0%	6.62% - 95th %ile
Tangible Common Equity/TA	9.5%	10.1%	9.7%	8.83%	9.78%	7.4% - 95th %ile
NIM	4.49%	4.56%	4.34%	4.64%	4.18%	3.76%- 90th %ile
Efficiency Ratio	46.7%	44.5%	45.9%	46.3%	50.0%	59.9% - 100th %ile
Non-Int Rev/Total Rev*	34%	34%	34%	36%	28.2%	28.1% - 100th %ile

*Non-Int Revexcludes gain on Visa IPO; Securities Losses

•**Peer Group of 19 Regional Banks of comparable size & geography

Yet, strong bottom line results continue
net of security gains& losses:

Reported EPSCore EPS

Source: SNL (Core Earnings exclude Invest Security
Gains/Losses and Non-recurring Income

CHCO faced “normalization” of provision
and loss of PSL revenues from 2003-2009:

Previously Securitized Loans:

Core growth in revenues in 2003-2009 offset
lower earnings from PSL balances

	2004	2005	2006	2007	2008	2009	2010 proj
Average Balances	$83.5 MM	$42.9 MM	$22.3 MM	$10.5 MM	$5.2 MM	$3.9 MM	$1.3 MM
Rate	17.4%	26.6%	42.2%	69.1%	108%	128%	219%
Gross Interest Revenue	$14.5 MM	$11.4 MM	$9.4 MM	$7.3 MM	$5.6 MM	$3.9 MM	$2.9 MM

Liabilities: Low Cost and stable

deposits drives profitability

Data: December 31, 2009

CHCO’s Cost of Funds Advantage:

	CHCO	Peers Ave	Advantage
CD’s	3.16%	2.75%	(41 Bps)
Interest Bearing Deposits	1.95%	1.90%	(5 Bps)
Total Deposits	1.65%	1.69%	4 Bps
Interest Bearing Liabilities	1.87%	2.18%	31 Bps

Data: 2009. Peers reflect publicly traded $1 to $10
billion banks reporting these rates

Strong Deposit Franchise drives top
decile Non-Interest Revenue:

24%

76%

63%

*As of December 31, 2009. Non-
interest income excludes other than
temporary impairment losses and
VISA IPO gain

Sample of 295 reporting publicly traded
banks and thrifts with assets between
$1 and $10 billion as of December 31,
2009, excluding investment
gains/losses

94th percentile

Net Interest MarginStrong NIM driven by solid core deposit
franchise & strong NIM management

-Purchased $600 million during 2005-2006
-Sold late 2008
-Positions CHCO for rising rates

Notional	Prime Rate	Term Date
$100MM	8%	June 2011
$100MM	7.75%	May 2011
$100MM	6%	June 2010

Prime-based Floors:

CHCO is well positioned with respect to
interest rate risk:

Immediate Basis Point Change in Interest Rates	Estimated Increase or Decrease in Net Income between 1-12 months
+300 Bp	+12.7%
+200 Bp	7.7%
+100 Bp	2.1%

Data: March 31, 2010

Interest Rate Risk to Net
Interest Margin:

Interest Rate Risk Summary:

uCHCO is less dependent upon NII than its
peers

tFee income in top 10% of peer group

uCHCO’s NIM is strong relative to peers based
upon strong core deposit franchise

uDue to Prime-based floors, CHCO’s NIM is in
the top decile within its peer group:

tIn 1st Q of 2010, Prime-based floors were
worth 26 bp of NIM

uCHCO is positioned to benefit from economic
recovery and higher interest rates:

tAn increase of 300 Bp in rates would result
in an increase of35 bp of NIM

GROWTH: CHCO is positioned
to achieve “reasonable growth”

nCommercial

nRetail

nInsurance

nTrust & Investment Management

Major Competitors:

	Branches	Deposits
CHCO	67	$ 2.2 B
BBT	36	$ 3.3 B
JPM	20	$ 1.2 B
UBSI	20	$ 1.2 B
HBAN	14	$ 0.9 B
FITB	10	$ 0.4 B

Includes branches within 5 miles of City Branch

Source: SNL

nOpportunity:
City’s mix is 40%
Commercial/60%
Retail reflecting
City’s historic retail
focus.

nOpportunity: Some
competitors have
stopped lending.

nOpportunity:
City has launched a
successful new cash
management initiative
to address depository
needs of larger
business customers.

Growth: Expanding Retail Distribution

City Opened 4 Wal-Marts in key markets
where it had significant share:

Branch Renovations/Expansions to
meet customer demand:

A Focus: Eastern Panhandle Expansion

Expansion into Bluefield WV-VA:

Bluefield WV-VA:

County Deposits:$1.7 billion

Branches: 50

Largest Competitors: BB&T (27%), FCBC (26%)

City’s Newest Location: Hurricane WV

Putnam Co. WV:

County Deposits:$761 MM

Branches: 18

Largest Competitors:

Putnam Co. Bank (50%)

BB&T (10%)

CityInsurance

n2006 Revenues$2.3 million

n2007 $4.1 million

n2008$4.2 million

n2009 $5.6 million

Strategies:

uAdded Workers Compensation Dept in 2006/7

uAdded Personal Lines Department in 2006/7

uOpened Beckley WV Office in 2006/7

uOpened Martinsburg Office in 4th Q 2008

uOpened Ashland Office in 4th Q 2008

uAcquired Nitro-based Patton Ins. Agency in Dec 2008

uAdded Medicus Representation in late 2008

uAcquired Teays Valley based Dickens & Clark in Apr 09

uAdded Martinsburg Office in 2009

Recent Insurance Acquisitions

Patton Insurance

Dickens & Clark

Trust AUM: CAGR (04-09) 9.1%
Grew AUM in 2008/9 despite market by taking share

CHCO: Capital Flexibility

Tangible Common Equity at 3/31/10:9.81%

No TARP!!!!

Dividends

- Increased 10% in April 2004 to $0.88

-Increased 14% in April 2005 to $1.00

-Increased 12% in April 2006 to $1.12

-Increased 11% in April 2007 to $1.24

-Increased 10% in April 2008 to $1.36

-Dividend Yield of 3.90%

-Dividend Payout Ratio of51% (Analyst Est. EPS)

Share Repurchases

-Purchased 1,784,458 shares in 2007, 2008 and 2009
(10.2% of outstanding shares at 12/31/06);

-Driven by CHCO’s strong profitability, CHCO can
achieve greater long-term share repurchase activity
than peers.

Acquisitions:

$100MM to $500MM in assets

WV, SE Ohio, Eastern KY, I81 Corridor from VA
thru MD, SW Pennsylvania, North Carolina

Pricing Metrics*:

nPrice to Book: 179%

nPrice to Tangible Book: 219%

nPrice to 2010 Projected Earnings**13.4x

nDividend Yield3.9%

nDiv Payout Ratio (First Call)**51%

nTangible Capital/Tangible Assets 9.81%

nInstitutional Ownership62%

*Based on Price of $35.39 (4/20/10)

** Based on analyst estimate of $2.65 (average of 7)

CHCO represents good value and
stability