City Holding Company (Parent Company Only) Financial Information

12 Months Ended

Dec. 31, 2022

Condensed Financial Information 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,
	2022		2021
Assets
Cash	$	54,597	$	26,884
Securities available-for-sale	2,530		2,644
Investment in subsidiaries	530,144		659,945
Loans	424		479
Fixed assets	2		9
Deferred tax asset	32		—
Other assets	1,321		849
Total Assets	$	589,050	$	690,810
Liabilities
Dividends payable	$	9,748	$	9,249
Deferred tax liability	—		104
Other liabilities	1,450		352
Total Liabilities	11,198		9,705
Total Shareholders’ Equity	577,852		681,105
Total Liabilities and Shareholders’ Equity	$	589,050	$	690,810

Condensed Statements of Comprehensive (Loss) Income

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

	Year Ended December 31,
	2022		2021		2020
Income
Dividends from subsidiaries	$	90,500	$	96,000	$	74,300
Realized and unrealized investment securities (losses) gains	(52)		820		(1,018)
Other income	99		191		183
	90,547		97,011		73,465
Expenses
Interest expense	—		—		100
Other expenses	2,077		1,610		1,810
	2,077		1,610		1,910
Income Before Income Tax Benefit and Equity in Undistributed Net Income (Excess Dividends) of Subsidiaries	88,470		95,401		71,555
Income tax benefit	(604)		(264)		(760)
Income Before Equity in Undistributed Net Income (Excess Dividends) of Subsidiaries	89,074		95,665		72,315
Equity in undistributed net income (excess dividends) of subsidiaries	12,997		(7,585)		17,280
Net Income	$	102,071	$	88,080	$	89,595
Total Comprehensive (Loss) Income	$	(43,677)	$	71,107	$	114,988

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,
	2022		2021		2020
Operating Activities
Net income	$	102,071	$	88,080	$	89,595
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized and realized investment securities losses (gains)	52		(820)		1,018
(Benefit) provision for deferred income taxes	(136)		(194)		(255)
Depreciation, amortization and accretion, net	—		—		1
Stock based compensation	3,277		3,121		3,253
Change in other assets	(465)		89		(284)
Change in other liabilities	(1,851)		(2,775)		(2,936)
(Equity in undistributed net income) excess dividends of subsidiaries	(12,997)		7,585		(17,280)
Net Cash Provided by Operating Activities	89,951		95,086		73,112
Investing Activities
Proceeds from sales of available for sale securities	61		3,443		—
Net decrease in loans	55		145		39
Net Cash Provided by Investing Activities	116		3,588		39
Financing Activities
Repayment of long-term debt	—		—		(4,056)
Dividends paid	(36,702)		(36,138)		(36,673)
Purchases of treasury stock	(26,449)		(58,678)		(36,481)
Exercise of stock options	797		691		223
Net Cash Used in Financing Activities	(62,354)		(94,125)		(76,987)
Increase (Decrease) in Cash and Cash Equivalents	27,713		4,549		(3,836)
Cash and cash equivalents at beginning of year	26,884		22,335		26,171
Cash and Cash Equivalents at End of Year	$	54,597	$	26,884	$	22,335