0001127264-01-500074.txt : 20011019
0001127264-01-500074.hdr.sgml : 20011019
ACCESSION NUMBER: 0001127264-01-500074
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011012
ITEM INFORMATION: Other events
ITEM INFORMATION: Financial statements and exhibits
FILED AS OF DATE: 20011012
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: CITY HOLDING CO
CENTRAL INDEX KEY: 0000726854
STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021]
IRS NUMBER: 550619957
STATE OF INCORPORATION: WV
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-11733
FILM NUMBER: 1757870
BUSINESS ADDRESS:
STREET 1: 25 GATEWATER ROAD
STREET 2: P O BOX 7520
CITY: CHARLESTON
STATE: WV
ZIP: 25313
BUSINESS PHONE: 3047691100
MAIL ADDRESS:
STREET 1: 25 GATEWATER ROAD
STREET 2: P O BOX 7520
CITY: CHARLESTON
STATE: WV
ZIP: 25313
8-K
1
city8k.txt
FORM 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): September 28, 2001
CITY HOLDING COMPANY
(Exact name of registrant as specified in its charter)
West Virginia 0-17733 55-0619957
------------- ------- ----------
(State or other jurisdiction of (Commission File No.) (IRS Employer
incorporation or organization) Identification Number)
25 Gatewater Road
Charleston, West Virginia, 25313
(Address of principal executive officers)
(304) 769-1100
(Registrant's telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year,
if changed since last report)
Item 5. Other Events
On September 28, 2001, City Holding Company issued a news release,
which is attached as Exhibit 99, announcing that its principal subsidiary, City
National Bank of West Virginia, had entered into a revised formal agreement with
the Office of the Comptroller of the Currency undertaking to implement remedial
action in a number of areas. The new agreement recognizes areas of compliance
under the formal agreement signed in July 2000, and replaces that agreement.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(a) Financial Statements None
(b) Pro Forma Financial Information None
(c) Exhibits
99 News Release issued on September 28, 2001
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.
CITY HOLDING COMPANY
Date: October 12, 2001
By: /s/ Michael D. Dean
----------------------------------
Michael D. Dean
Senior Vice President - Finance,
Chief Accounting Officer and
Duly Authorized Officer
EX-99
3
ex_99.txt
PRESS RELEASE
Exhibit 99
NEWS RELEASE
--------------------------------------------------------------------------------
For Immediate Release
September 28, 2001
For Further Information Contact:
Jerry Francis, President & CEO
(304) 769-1101
City Holding Company Announces A Revised Formal Agreement With The Office Of The
Comptroller Of Currency
Charleston, West Virginia - City Holding Company (NASDAQ:CHCO), a $2.4
billion bank holding company headquartered in Charleston, today announced that
its principal subsidiary, City National Bank of West Virginia, has entered into
a revised, less comprehensive formal agreement with the Office of the
Comptroller of the Currency undertaking to implement remedial action in a small
number of areas. The new agreement recognizes areas of compliance under the
formal agreement signed in July 2000, and replaces that agreement. It calls for,
among other things:
o Continuation of a compliance committee responsible for monitoring and
coordinating the Bank's adherence to the provisions of the Agreement
o Continued refinement of the process to request and review real estate
appraisals for adequacy and compliance
o Further development and implementation of a written program to improve
the Bank's loan portfolio management
o Further development of an effective, independent and ongoing loan
review system
o Implementation and adherence to the capital program previously
approved by the Board of Directors
o Implementation of an independent, risk-based, internal audit program
o Continuing review of the adequacy of the bank's allowance for loan and
lease losses
According to Jerry Francis, City Holding Company's President and CEO,
"the agreement does not affect the way the Bank conducts business with its
customers. The various provisions should not have any significant impact on our
results of operations over the next several months, even though the agreement
does require the Bank to continue to strengthen its lending policies and to
modify its methodology for the allowance for loans and lease losses." The
Company does not anticipate that the agreement will have any effect on fourth
quarter operating results.
City Holding Company is the parent company of City National Bank of
West Virginia and City Financial Corporation. City National Bank, in addition to
its banking divisions, operates CityInsurance Professionals, an insurance agency
offering a full range of insurance products and services.
This news release contains certain forward-looking statements that are
included pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve certain
risks and uncertainties, including a variety of factors that may cause the
actual results of City Holding to differ materially from the anticipated results
or other expectations expressed in such forward-looking statements. Factors that
might cause such a difference include, but are not limited to: (1) the formal
agreement with the Comptroller of the Currency may have effects on the Company's
business that are not currently anticipated, including effects on operating
results; (2) competitive pressures may increase significantly; (3) general
economic or business conditions, either nationally or in the states or regions
in which the companies do business may be less favorable than expected,
resulting in, among other things, a deterioration in credit quality or a reduced
demand for credit; (4) legislative or regulatory changes may adversely affect
the businesses in which the companies are engaged; (5) changes may occur in the
securities markets.