City Holding Company (Parent Company Only) Financial Information

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

City Holding Company (Parent Company Only) Financial Information

CITY HOLDING COMPANY (PARENT COMPANY ONLY) FINANCIAL INFORMATION

Condensed Balance Sheets

The following table presents the condensed balance sheets of City Holding Company, parent company only (in thousands):

	December 31
	2015		2014
Assets
Cash	$	46,672	$	12,521
Securities available-for-sale	3,273		3,212
Investment in subsidiaries	388,201		380,348
Deferred tax assets, net	1,569		1,436
Fixed assets	8		9
Other assets	3,290		16,629
Total Assets	$	443,013	$	414,155
Liabilities
Junior subordinated debentures	$	16,495	$	16,495
Dividends payable	6,376		6,062
Accrued interest payable	30		26
Other liabilities	840		719
Total Liabilities	23,741		23,302
Total Shareholders’ Equity	419,272		390,853
Total Liabilities and Shareholders’ Equity	$	443,013	$	414,155

Junior subordinated debentures represent the Parent Company’s amounts owed to City Holding Capital Trust III.

Condensed Statements of Comprehensive Income

The following table presents the condensed statements of comprehensive income of City Holding Company, parent company only (in thousands):

	Year Ended December 31
	2015			2014			2013
Income
Dividends from subsidiaries	$	48,950		$	46,050		$	46,317
Investment securities gains	—			1,130			89
Other income	22			65			66
	48,972			47,245			46,472
Expenses
Interest expense	618			605			617
Other expenses	1,170			849			2,352
	1,788			1,454			2,969
Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries	47,184			45,791			43,503
Income tax benefit	(795		)	(231		)	(1,050		)
Income Before Equity in Undistributed Net Income of Subsidiaries	47,979			46,022			44,553
Equity in undistributed net income of subsidiaries	6,118			6,940			3,662
Net Income	$	54,097		$	52,962		$	48,215
Total Comprehensive Income	$	54,424		$	53,793		$	44,647

Condensed Statements of Cash Flows

The following table presents the condensed statements of cash flows of City Holding Company, parent company only (in thousands):

	Year Ended December 31
	2015			2014			2013
Operating Activities
Net income	$	54,097		$	52,962		$	48,215
Adjustments to reconcile net income to net cash provided by operating activities:
Realized investment securities gains	—			(1,130		)	(89		)
Amortization and accretion	—			—			5
Stock based compensation	3			199			205
Depreciation	1			1			1
Change in other assets	13,338			(16,110		)	1,656
Change in other liabilities	314			2,146			(236		)
Equity in undistributed net income	(6,118		)	(6,940		)	(3,662		)
Net Cash Provided by Operating Activities	61,635			31,128			46,095
Investing Activities
Proceeds from sales of available for sale securities	—			2,334			137
Return of capital	—			2,500			—
Acquisition of Community Financial Corporation	—			—			(12,708		)
Net Cash Used in Investing Activities	—			4,834			(12,571		)
Financing Activities
Dividends paid	(25,304		)	(24,487		)	(22,878		)
Purchases of treasury stock	(7,055		)	(27,957		)	—
Exercise of stock options	2,979			580			3,428
Exercise of warrants	1,896			—			—
Net Cash Used in Financing Activities	(27,484		)	(51,864		)	(19,450		)
Increase (decrease) in Cash and Cash Equivalents	34,151			(15,902		)	14,074
Cash and cash equivalents at beginning of year	12,521			28,423			14,349
Cash and Cash Equivalents at End of Year	$	46,672		$	12,521		$	28,423