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City Holding Company (Parent Company Only) Financial Information (Tables)
12 Months Ended
Dec. 31, 2012
City Holding Company (Parent Company Only) Financial Information [Abstract]  
Condensed Balance Sheets

 

 

 

 

December 31

(in thousands)

2012

2011

 

 

Assets

 

 

Cash

14,349 
2,621 

Securities available-for-sale

4,186 
3,852 

Investment in subsidiaries

332,156 
319,940 

Deferred tax asset

3,247 
3,785 

Fixed assets

11 
12 

Other assets

2,180 
2,939 

Total Assets

356,129 
333,149 

 

 

 

Liabilities

 

 

Junior subordinated debentures

16,495 
16,495 

Dividends payable

5,192 
5,177 

Accrued interest payable

24 
31 

Other liabilities

1,144 
312 

Total Liabilities

22,855 
22,015 

 

 

 

Shareholders’ Equity

333,274 
311,134 

Total Liabilities and Shareholders’ Equity

356,129 
333,149 

 

Condensed Statements Of Comprehensive Income

 

 

 

 

 

Year Ended December 31

(in thousands)

2012 
2011 
2010 

 

 

 

 

Income

 

 

 

Dividends from subsidiaries

41,422 
44,600 
17,200 

Investment securities gains

1,134 

 -

 -

Other income

65 
92 
156 

 

42,621 
44,692 
17,356 

Expenses

 

 

 

Interest expense

661 
639 
641 

Investment securities losses

 -

918 
3,643 

Other expenses

533 
613 
594 

 

1,194 
2,170 
4,878 

Income Before Income Tax Benefit and Equity in Undistributed Net Income (Excess Dividends)  of Subsidiaries

41,427 
42,522 
12,478 

Income tax benefit

(704)
(2,066)

Income Before Equity in Undistributed Net Income (Excess Dividends)  of Subsidiaries

41,425 
43,226 
14,544 

Equity in undistributed net income (excess dividends) of subsidiaries

(2,480)
(2,548)
24,416 

Net Income

38,945 
40,678 
38,960 

 

 

 

 

Total Comprehensive Income

41,430 
39,268 
39,017 

 

Condensed Statements Of Cash Flows

 

 

 

 

 

Year Ended December 31

(in thousands)

2012

2011

2010

Operating Activities

 

 

 

Net income

38,945 
40,678 
38,960 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

Realized investment securities losses

(1,134)
918 
3,643 

Amortization and accretion

19 
19 
19 

Deferred income tax benefit

 -

(363)
(1,501)

Stock based compensation

224 

 -

 -

Depreciation

Change in other assets

740 
1,522 
(1,305)

Change in other liabilities

1,136 
(965)
827 

Excess dividends of subsidiaries (equity in undistributed net income)

2,480 
2,548 
(24,416)

Net Cash Provided by Operating Activities

42,411 
44,358 
16,228 

 

 

 

 

Investing Activities

 

 

 

Purchases of available for sale securities

(403)
(29)
(248)

Proceeds from sales of available for sale securities

2,473 

 -

 -

Investment in subsidiaries

 -

 -

4,201 

Acquisition of Virginia Savings Bank, Inc.

(4,672)

 -

 -

Net Cash (Used in) Provided by Investing Activities

(2,602)
(29)
3,953 

 

 

 

 

Financing Activities

 

 

 

Dividends paid

(20,710)
(20,628)
(21,350)

Purchases of treasury stock

(7,915)
(23,791)
(12,902)

Exercise of stock options

544 
462 
236 

Net Cash Used in Financing Activities

(28,081)
(43,957)
(34,016)

Increase (decrease)  in Cash and Cash Equivalents

11,728 
372 
(13,835)

Cash and cash equivalents at beginning of year

2,621 
2,249 
16,084 

Cash and Cash Equivalents at End of Year

14,349 
2,621 
2,249