City Holding Company (Parent Company Only) Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

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

	December 31,
	2023		2022
Assets
Cash	$	63,988	$	54,597
Securities available-for-sale	1,781		2,530
Investment in subsidiaries	620,757		530,144
Loans	372		424
Fixed assets	—		2
Deferred tax asset	182		32
Other assets	1,193		1,321
Total Assets	$	688,273	$	589,050
Liabilities
Dividends payable	$	10,692	$	9,748
Other liabilities	515		1,450
Total Liabilities	11,207		11,198
Total Shareholders’ Equity	677,066		577,852
Total Liabilities and Shareholders’ Equity	$	688,273	$	589,050

Condensed Statements Of Comprehensive Income

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

	Year Ended December 31,
	2023		2022		2021
Income
Dividends from subsidiaries	$	108,895	$	90,500	$	96,000
Realized and unrealized investment securities (losses) gains	(302)		(52)		820
Other income	98		99		191
	108,691		90,547		97,011
Expenses
Other expenses	2,024		2,077		1,610
	2,024		2,077		1,610
Income Before Income Tax Benefit and Equity in Undistributed Net Income (Excess Dividends) of Subsidiaries	106,667		88,470		95,401
Income tax benefit	(650)		(604)		(264)
Income Before Equity in Undistributed Net Income (Excess Dividends) of Subsidiaries	107,317		89,074		95,665
Equity in undistributed net income (excess dividends) of subsidiaries	7,048		12,997		(7,585)
Net Income	$	114,365	$	102,071	$	88,080
Total Comprehensive Income (Loss)	$	135,316	$	(43,677)	$	71,107

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,
	2023		2022		2021
Operating Activities
Net income	$	114,365	$	102,071	$	88,080
Adjustments to reconcile net income to net cash provided by operating activities:
Unrealized and realized investment securities losses (gains)	302		52		(820)
(Benefit) provision for deferred income taxes	(150)		(136)		(194)
Depreciation, amortization and accretion, net	—		—		—
Stock based compensation	3,213		3,277		3,121
Change in other assets	128		(465)		89
Change in other liabilities	(4,134)		(1,851)		(2,775)
(Equity in undistributed net income) excess dividends of subsidiaries	(7,048)		(12,997)		7,585
Net Cash Provided by Operating Activities	106,676		89,951		95,086
Investing Activities
Proceeds from sales of available for sale securities	—		61		3,443
Proceeds from sales of other investments	447		—		—
Net decrease in loans	52		55		145
Acquisition of Citizens Commerce Bancshares, Inc.	2,343		—		—
Net Cash Provided by Investing Activities	2,842		116		3,588
Financing Activities
Repayment of FHLB long-term advances	—		—		—
Dividends paid	(39,993)		(36,702)		(36,138)
Purchases of treasury stock	(60,134)		(26,449)		(58,678)
Exercise of stock options	—		797		691
Net Cash Used in Financing Activities	(100,127)		(62,354)		(94,125)
Increase (Decrease) in Cash and Cash Equivalents	9,391		27,713		4,549
Cash and cash equivalents at beginning of year	54,597		26,884		22,335
Cash and Cash Equivalents at End of Year	$	63,988	$	54,597	$	26,884