Exhibit 99

NEWS RELEASE

For Immediate Release

July 19, 2004

For Further Information Contact:

Jerry Francis, Chairman, President & CEO

(304) 769-1101

City Holding Company Announces Second Quarter Earnings

Charleston, West Virginia – City Holding Company, “the Company” (NASDAQ:CHCO), a $2.2 billion bank holding company headquartered in Charleston, today announced net income for the second quarter of $13.3 million, or diluted earnings per share of $0.79 compared to $12.1 million, or $0.72 per diluted share in the second quarter of 2003, representing a 9.7% increase. For the quarter, the Company achieved a return on assets of 2.39%, a return on equity of 25.64%, a net interest margin of 4.20%, and an efficiency ratio of 45.3%, placing the Company among the most profitable banks for the quarter. At June 30, 2004 the book value of the Company’s common stock was $11.89 per share compared to a book value of $10.74 per share at June 30, 2003, representing a 10.7% increase. The market value of the Company’s stock increased 7.9% to $31.58 at June 30, 2004 compared to $29.26 at June 30, 2003.

During the second quarter of 2004, the Company recorded income of $5.5 million, or $0.19 per diluted share, after taxes, associated with the settlement of litigation brought on December 31, 2001 in a derivative action brought against certain current and former directors and former executive officers of City Holding Company and City National Bank seeking to recover alleged damages on behalf of City Holding Company and City National Bank. The bank recorded legal fees totaling approximately $0.6 million during the second quarter of 2004 in conjunction with the resolution of this settlement and approximately $0.3 million in legal fees and other expenses in the first quarter of 2004. Altogether, approximately $1.2 million of certain legal fees and costs associated with the litigation have been incurred and charged to expense that remain in dispute with the Company’s insurer. Resolution of this dispute may result in additional income for the Company in forthcoming periods if legal fees and costs are fully or partially reimbursed to the Company. The Company recorded a negative provision for loan loss expense of $3.3 million, or $0.12 per diluted share, in the second quarter of 2003 as compared to no provision for loan losses during the second quarter of 2004.

As compared to the year-ago quarter, the Company continues to demonstrate strong performance across all measures. Targeted loan balances grew significantly, with home equity loan balances up 19.0% since June 30, 2003 and commercial real estate loan balances up 24.2% over the same period. Average deposits grew 4.5% between June 30, 2003 and June 30, 2004. Between the second quarter of 2003 and the second quarter of 2004, non-interest income net of security gains and the legal settlement grew 15.0%, which was primarily attributable to growth in service fee income of 11.2%. Expenses exhibited only modest growth between the second quarter of 2003 and the second quarter of 2004 after allowing for significant gains recorded on repossessed assets in the third quarter of 2003 and legal expenses recorded in the second quarter of 2004 associated with settlement of the previously mentioned legal dispute.

Balance Sheet Trends

As compared to June 30, 2003, loans have increased $152.7 million. Specifically, home equity loan balances increased by $48.1 million and commercial real estate loan balances grew by $73.0 million. Additionally, the carrying value of Previously Securitized Loans has increased $78.5 million from June 30, 2003 to June 30, 2004. This increase was due to the Company’s early redemption of the outstanding obligations pursuant to each of its six securitization trusts, resulting in the Company becoming the beneficial owner of the remaining mortgage loans held by those trusts. Offsetting the targeted loan growth,

were decreases in loan portfolios that the Company has de-emphasized, including decreases in indirect loans of $18.9 million and decreases in unsecured consumer loans of $22.2 million. The Company also experienced strong and steady increases in average depository balances, which were 4.5% higher in the second quarter of 2004 as compared to the second quarter of 2003, increasing from $1.593 billion to $1.664 billion. This growth occurred in average non-interest bearing deposits, which were up 7.3%; interest-bearing demand deposits, which were up 5.0%; and time deposits, which were up 6.8%.

Net Interest Income

Tax equivalent net interest income in the second quarter of 2004 decreased by $300,000 or 1.4%, as compared to the second quarter of 2003. This decrease can primarily be attributed to margin compression caused by sustained and historically low interest rates. The Company is largely funded by low cost sources of deposits: interest bearing checking, saving deposits, and non-interest bearing deposits and equity. In total, these sources fund approximately 54% of the Company’s total assets. Although the Company did experience some reduction in the cost of time deposits that matured between the second quarter of 2003 and the second quarter of 2004, with average interest bearing demand deposits and average savings deposits having yields of approximately .55% during the second quarter of 2003 and non-interest bearing deposits and equity having zero interest expense, the cost of the Company’s liabilities was relatively constant over this period. However, as the Company’s fixed rate loans (principally in the residential mortgage and commercial portfolios) were repaid and/or refinanced, new loan originations were recorded at lower interest rates in the current interest rate environment, which has adversely impacted the Company’s reported net interest income in 2004, as compared to 2003.

Net interest income compression caused by repricing fixed rate assets was partially offset by reductions in the rate paid on long-term debt which fell from an average of 8.25% during the second quarter of 2003 to 3.62% in the second quarter of 2004. This improvement in funding cost was achieved as a result of redemption of $57.5 million in 9.125% trust preferred securities during the fourth quarter of 2003. This debt was replaced with term federal home loan bank borrowings at rates ranging from 2.02% to 3.41%. Additionally, during the second quarter of 2004, the Company repaid $2.0 million of 9.15% long-term debt owed to City Holding Capital Trust (“the Trust”). In turn, the Trust repurchased $2.0 million of trust preferred securities, which were otherwise not callable until 2008, in an open market transaction. Compression associated with loan repricing was also partially offset by an increase in average earning assets, which increased by $201.8 million, or 10.8%, from $1.864 billion in the second quarter of 2003 to $2.066 billion in the second quarter of 2004. The increase in average earning assets was primarily in investment securities, where average balances increased by $134.1 million between the second quarters of 2003 and 2004 and secondarily by growth in loans. These investment securities were funded by an increase in short-term borrowing and long-term debt from the Federal Home Loan Bank of Pittsburgh where average balances increased $123.4 million between the first quarters of 2003 and 2004.

The net interest margin for the second quarter of 2004 decreased to 4.20% from 4.72% in the second quarter of 2003. This decrease was caused firstly by the growth in investment securities previously described, which increased net interest income but at a lower net interest margin. Secondly, the net interest margin fell as a result of continued repricing of fixed rate loans without a corresponding decrease in rates paid on deposits as previously described. These decreases were only partially offset by the impact of actions taken to reduce outstanding trust preferred securities. If rates continue to remain at historically low levels, fixed rate assets will continue to reprice at lower rates and it is likely that the Company will experience continued contraction of its net interest margin. Conversely, the Company believes that it will benefit from increases in interest rates, should those occur.

Credit Quality

The Company continues to demonstrate strong credit quality. During the second quarter of 2004, the Company had gross charge-offs of $1.372 million. The charge-offs were offset by $0.916 million in recoveries, resulting in net charge-offs of $0.456 million. Of these net charge-offs, approximately 78% were attributable to depository accounts, demonstrating the strength of credit quality in the bank’s retail and commercial loan products.

Non-performing assets were essentially unchanged, decreasing from $4.3 million at June 30, 2003 to $4.2 million at June 30, 2004. However, non-performing assets at June 30, 2004 include $1.544 million in loans that were previously securitized. There were virtually no such assets at June 30, 2003. Thus, the inclusion of these loans in the loan portfolio mitigates improvements achieved in loans accruing interest but more than 90 days past due, non-accrual loans, and other real estate owned.

At June 30, 2004, the ALLL was $19.8 million or 1.47% of total loans outstanding and 493% of non-performing loans. Adjusting for $83.4 million in previously securitized loans, where losses are not expected to flow through the allowance for loan losses but instead are reflected in the yield on these assets, the ALLL represents 1.57% of loans net of previously securitized loans. The Company believes that its methodology for determining its ALLL adequately provides for probable losses inherent in the loan portfolio at June 30. The Company recorded no provision for loan losses in the second quarter of 2004.

Non-Interest Income

Non-interest income in the second quarter of 2004 was $16.7 million as compared to $9.7 million in the second quarter of 2003. During the second quarter of 2004, the Company recorded income of $5.5 million associated with the legal settlement previously described, and $0.1 million in gains on securities. Net of these revenues, non-interest income was up $1.4 million, or 15.0% as compared to the second quarter of 2003. The largest source of non-interest income is fee income from depository accounts, which increased from $7.3 million during the second quarter of 2003 to $8.1 million during the second quarter of 2004, or 11.2%, reflecting growth in new customers and services provided to the Company’s depository customers. The Company also experienced significant increases in insurance revenues that were up 21.5%, trust revenues that were up 76.6%, and additional revenues from bank-owned life insurance. After adjusting for the impact of the legal settlement on non-interest income, non-interest income represented 34.4% of total revenues (net interest income plus non-interest income) for the Company in the second quarter of 2004 – substantially more than other similarly sized banking companies which average approximately 24% of total revenues derived from non-interest income.

Non-Interest Expenses

Non-interest expenses increased by $1.3 million for the quarter, from $16.0 million in the second quarter of 2003 to $17.3 million in the second quarter of 2004, an increase of 8.1%. Of that amount, $761,000 can be attributed to the cost of salaries and employee benefits – principally higher health care costs and the costs of executive severances. With respect to the latter, the Company previously announced the retirement of John Loeber, EVP of Commercial Banking and Chief Credit Officer. Mr. Loeber provided outstanding leadership during his tenure and was instrumental in helping the Company achieve its remarkable financial turnaround over the past three years. On June 28, 2004 the Company announced that John DeRito had joined the Company as Executive Vice President, Commercial Banking.

As previously discussed, during the second quarter of 2004, the Company repaid $2.0 million of long-term debt owed to City Holding Capital Trust (“the Trust”), which enabled the Trust to repurchase $2.0 million of trust preferred securities that were otherwise not callable until 2008. In completing these transactions, the Company incurred expense of approximately $263,000 during the second quarter of 2004 for costs associated with the repayment of the debt and repurchase of the securities.

The impact of this action will be to reduce the Company’s interest expense by $182,500 annually. Finally, in the second quarter of 2003, the Company experienced recoveries of $547,000 on repossessed assets as compared to only $108,000 on repossessed assets in the second quarter of 2004.

Previously Securitized Loans

Between 1997 and 1999, the company originated and securitized $760 million in 125% loan to value junior-lien underlying mortgages in six separate pools known as City Capital Home Loan Trust 1997-1, 98-1, 98-2, 98-3, 98-4 and 99-1. The Company had a retained interest in the residual cash flows associated

with these underlying mortgages after satisfying priority claims. Principal amounts owed to investors in the securitizations were evidenced by securities that were subject to redemption under certain circumstances. Once the Notes were redeemed, the Company became the beneficial owner of the mortgage loans and recorded the loans as “Previously Securitized Loans” within the loan portfolio. As of June 30, 2004, the Company had exercised its early redemption option with respect to all of these Trusts.

Because the carrying value of the previously securitized loans incorporates discounts for expected prepayment and default rates, the carrying value of the loans is generally less than the contractual outstanding balance of the loans. As of June 30, 2004, the contractual outstanding balances of the mortgages securitized were $101.2 million while the carrying value of these assets was $83.4 million. The difference between the carrying value and the contractual outstanding balance of previously securitized loans is accreted into interest income over the life of the loans.

Net credit losses on previously securitized loans are first recorded against this discount and, therefore, impact the yield earned on these loans. Should net credit losses exceed the reported balance of the discount over the life of the loans, credit losses would then be provided for through the Company’s provision and allowance for loan losses. During the second quarter of 2004, the Company increased its assumption regarding default rates on these assets over their remaining lives. As a result, the yield on the previously securitized loans declined to 16.65% during the second quarter of 2004. Based upon its assumptions, the Company expects the net carrying value of previously securitized loan balances to decrease as shown below:

December 31, 2004	$	69 million
December 31, 2005	$	48 million
December 31, 2006	$	35 million
December 31, 2007	$	26 million

Capitalization and Liquidity

One of the Company’s strengths is that it is highly profitable while maintaining strong liquidity and capital. With respect to liquidity, the Company’s loan to deposit ratio was 81.5% and the loan to asset ratio was 61.4% at June 30, 2004. The Company maintained investment securities totaling 30.8% of assets as of this date. Further, the Company’s deposit mix is weighted heavily toward checking and saving accounts that fund 45.3% of assets at June 30, 2004. Time deposits fund 30.1% of assets but very few of these deposits are in accounts of more than $250,000 reflecting the core retail orientation of the Company. Equity represents 9.0% of total assets, leaving only 15.7% of the Company’s assets funded by short and long-term borrowings and other liabilities.

The Company is also strongly capitalized. Capitalization (as measured by equity to assets) was 8.97% at June 30, 2004 as a result of the Company’s strong earnings. The Company’s tangible equity ratio was 8.71% at June 30, 2004. With respect to regulatory capital, at June 30, 2004, the Company’s Leverage Ratio is 9.89%, the Tier I Capital ratio is 14.43%, and the Total Risk-Based Capital ratio is 15.68%. All measures of capital have shown improvement since June 30, 2003 despite the retirement of $57.5 million in trust preferred securities in the fourth quarter of 2003 and $2 million in trust preferred securities during the second quarter of 2004. The Company’s regulatory capital ratios are significantly above levels required to be considered “well capitalized”, which is the highest possible regulatory designation.

During the second quarter of 2004, the Company repurchased 109,300 common shares at a weighted average price of $29.54 as part of a 1 million share repurchase plan originally authorized by the Board of Directors in June of 2002. Under this authorization, as of June 30, 2004, the Company may repurchase an additional 470,000 shares from time to time depending upon market conditions.

City Holding Company is the parent company of City National Bank of West Virginia. In addition to the Bank, City National Bank 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 information involves risks and uncertainties that could result in the Company’s actual results differing from those projected in the forward-looking statements. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include, but are not limited to, (1) the Company may incur additional loan loss provision due to negative credit quality trends in the future that may lead to a deterioration of asset quality, or conversely, the Company may incur less, or even negative, loan loss provision due to positive credit quality trends in the future; (2) the Company may not continue to experience significant recoveries of previously charged-off loans and the Company may incur increased charge-offs in the future; (3) the Company may experience increases in the default rates on previously securitized loans causing the yields on these assets to decline; (4) the Company could have adverse legal actions of a material nature; (5) the Company may face competitive loss of customers; (6) the Company may be unable to manage its expense levels; (7) changes in the interest rate environment may have results on the Company’s operations materially different from those anticipated by the Company’s market risk management functions; (8) changes in general economic conditions and increased competition could adversely affect the Company’s operating results; (9) changes in other regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact the Company’s operating results; and (10) the Company may experience difficulties growing loan and deposit balances. Forward-looking statements made herein reflect management’s expectations as of the date such statements are made. Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Company and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made.

CITY HOLDING COMPANY AND SUBSIDIARIES

Financial Highlights

(Unaudited)

	Three Months Ended
	June 30 2004			June 30 2003			Percent Change
Earnings ($000s, except per share data):
Net Interest Income (FTE)	$	21,679		$	21,978		(1.36	)%
Net Income		13,298			12,137		9.57	%
Earnings per Basic Share		0.80			0.73		9.59	%
Earnings per Diluted Share		0.79			0.72		9.72	%
Key Ratios (percent):
Return on Average Assets		2.39	%		2.43	%	(1.65	)%
Return on Average Equity		25.64	%		28.13	%	(8.85	)%
Net Interest Margin		4.20	%		4.72	%	(11.02	)%
Efficiency Ratio		45.33	%		50.35	%	(9.97	)%
Average Shareholders’ Equity to Average Assets		9.33	%		8.65	%	7.86	%
Risk-Based Capital Ratios (a):
Tier I		14.43	%		11.59	%	24.50	%
Total		15.68	%		14.88	%	5.38	%
Common Stock Data:
Cash Dividends Declared per Share	$	0.22		$	0.20		10.00	%
Book Value per Share		11.89			10.74		10.71	%
Market Value per Share:
High		35.71			30.00		19.03	%
Low		27.30			27.30		0.00	%
End of Period		31.58			29.26		7.93	%
Price/Earnings Ratio (b)		9.87			10.02		(1.50	)%

(a) June 30, 2004 risk-based capital ratios are estimated.

(b) June 30, 2004 price/earnings ratio computed based on annualized second quarter 2004 earnings.

	Six Months Ended
	June 30 2004			June 30 2003			Percent Change
Earnings ($000s, except per share data):
Net Interest Income (FTE)	$	44,248		$	43,500		1.72	%
Net Income		24,301			21,489		13.09	%
Earnings per Basic Share		1.46			1.29		13.18	%
Earnings per Diluted Share		1.43			1.27		12.60	%
Key Ratios (percent):
Return on Average Assets		2.19	%		2.16	%	1.39	%
Return on Average Equity		23.99	%		25.16	%	(4.65	)%
Net Interest Margin		4.31	%		4.69	%	(8.10	)%
Efficiency Ratio		47.94	%		51.83	%	(7.51	)%
Average Shareholders’ Equity to Average Assets		9.14	%		8.59	%	6.40	%
Common Stock Data:
Cash Dividends Declared per Share	$	0.44		$	0.40		10.00	%
Market Value per Share:
High		36.18			30.00		20.60	%
Low		27.30			25.50		7.06	%

CITY HOLDING COMPANY AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Book Value and Market Price Range per Share

	Book Value per Share				Market Price Range per Share
	March 31	June 30	September 30	December 31	Low	High
1999	13.07	12.85	12.80	11.77	12.50	32.75
2000	11.76	11.72	11.72	9.68	4.88	16.19
2001	8.82	8.70	8.37	8.67	5.13	14.64
2002	8.92	9.40	9.64	9.93	12.04	30.20
2003	10.10	10.74	11.03	11.51	25.50	37.15
2004	12.09	11.89			27.30	36.18

Earnings per Basic Share

	Quarter Ended
	March 31		June 30		September 30		December 31		Year-to-Date
1999	0.31		0.42		0.14		(0.49	)	0.37
2000	0.24		0.02		(0.05	)	(2.47	)	(2.27	)
2001	(0.34	)	(1.19	)	(0.46	)	0.45		(1.54	)
2002	0.38		0.45		0.53		0.56		1.93
2003	0.56		0.73		0.69		0.64		2.63
2004	0.66		0.80						1.46
Earnings per Diluted Share
	Quarter Ended
	March 31		June 30		September 30		December 31		Year-to-Date
1999	0.31		0.42		0.14		(0.49	)	0.37
2000	0.24		0.02		(0.05	)	(2.47	)	(2.27	)
2001	(0.34	)	(1.19	)	(0.46	)	0.45		(1.54	)
2002	0.38		0.45		0.52		0.55		1.90
2003	0.55		0.72		0.68		0.63		2.58
2004	0.65		0.79						1.43

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Statements of Income

(Unaudited) ($ in 000s, except per share data)

	Three Months Ended June 30
	2004			2003
Interest Income
Interest and fees on loans	$	21,384		$	19,577
Interest on investment securities:
Taxable		7,374			5,663
Tax-exempt		457			559
Interest on retained interests		67			3,842
Interest on deposits in depository institutions		11			28
Interest on federal funds sold		—			—
Total Interest Income		29,293			29,669
Interest Expense
Interest on deposits		5,715			5,598
Interest on short-term borrowings		195			132
Interest on long-term debt		1,950			2,261
Total Interest Expense		7,860			7,991
Net Interest Income		21,433			21,678
Provision for (recovery of) loan losses		—			(3,300	)
Net Interest Income After Provision for Loan Losses		21,433			24,978
Non-Interest Income
Investment securities gains		124			22
Service charges		8,110			7,294
Insurance commissions		718			591
Trust fee income		627			355
Bank owned life insurance		591			156
Mortgage banking income		71			180
Net proceeds from litigation settlement		5,453			—
Other income		976			1,074
Total Non-Interest Income		16,670			9,672
Non-Interest Expense
Salaries and employee benefits		8,390			7,629
Occupancy and equipment		1,459			1,489
Depreciation		974			1,113
Professional fees and litigation expense		1,181			981
Postage, delivery, and statement mailings		598			744
Advertising		651			557
Telecommunications		463			518
Insurance and regulatory		320			326
Office supplies		273			405
Repossessed asset (gains) losses and expenses		(108	)		(547	)
Loss on early extinguishment of debt		263			142
Other expenses		2,802			2,621
Total Non-Interest Expense		17,266			15,978
Income Before Income Taxes		20,837			18,672
Income Tax Expense		7,539			6,535
Net Income	$	13,298		$	12,137
Basic Earnings per Share	$	0.80		$	0.73
Diluted Earnings per Share	$	0.79		$	0.72
Average Common Shares Outstanding:
Basic		16,694			16,622
Diluted		16,935			16,918

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Statements of Income

(Unaudited) ($ in 000s, except per share data)

	Six Months Ended June 30
	2004			2003
Interest Income
Interest and fees on loans	$	43,107		$	39,879
Interest on investment securities:
Taxable		14,598			10,876
Tax-exempt		934			1,130
Interest on retained interests		807			7,365
Interest on deposits in depository institutions		22			58
Interest on federal funds sold		—			60
Total Interest Income		59,468			59,368
Interest Expense
Interest on deposits		11,407			11,365
Interest on short-term borrowings		361			566
Interest on long-term debt		3,955			4,545
Total Interest Expense		15,723			16,476
Net Interest Income		43,745			42,892
Provision for (recovery of) loan losses		—			(3,300	)
Net Interest Income After Provision for Loan Losses		43,745			46,192
Non-Interest Income
Investment securities gains		1,136			375
Service charges		15,491			13,375
Insurance commissions		1,378			1,353
Trust fee income		1,114			703
Bank owned life insurance		1,172			313
Mortgage banking income		140			348
Net proceeds from litigation settlement		5,453			—
Other income		1,811			2,190
Total Non-Interest Income		27,695			18,657
Non-Interest Expense
Salaries and employee benefits		16,517			15,367
Occupancy and equipment		2,953			3,034
Depreciation		1,980			2,300
Professional fees and litigation expense		2,025			1,818
Postage, delivery, and statement mailings		1,283			1,524
Advertising		1,307			1,207
Telecommunications		929			923
Insurance and regulatory		651			651
Office supplies		585			840
Repossessed asset losses (gains) and expenses		(51	)		(738	)
Loss on early extinguishment of debt		263			142
Other expenses		5,362			4,917
Total Non-Interest Expense		33,804			31,985
Income Before Income Taxes		37,636			32,864
Income Tax Expense		13,335			11,375
Net Income	$	24,301		$	21,489
Basic Earnings per Share	$	1.46		$	1.29
Diluted Earnings per Share	$	1.43		$	1.27
Average Common Shares Outstanding:
Basic		16,687			16,630
Diluted		16,954			16,936

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Statements of Changes in Stockholders’ Equity

(Unaudited) ($ in 000s)

	Three Months Ended
	June 30, 2004			June 30, 2003
Balance at March 31	$	202,204		$	167,877
Net income		13,298			12,137
Other comprehensive income:
Change in unrealized (loss) gain on securities available-for-sale		(11,196	)		1,776
Cash dividends declared ($0.22/share)		(3,657	)		—
Cash dividends declared ($0.20/share)		—			(3,325	)
Exercise of 10,325 stock options		149			—
Exercise of 7,400 stock options		—			106
Purchase of 109,300 common shares for treasury		(3,229	)		—
Balance at June 30	$	197,569		$	178,571
	Six Months Ended
	June 30, 2004			June 30, 2003
Balance at January 1	$	190,690		$	165,393
Net income		24,301			21,489
Other comprehensive income:
Change in unrealized (loss) gain on securities available-for-sale		(7,825	)		718
Cash dividends declared ($0.44/share)		(7,335	)		—
Cash dividends declared ($0.40/share)		—			(6,652	)
Exercise of 84,803 stock options		967			—
Exercise of 86,482 stock options		—			881
Purchase of 109,300 common shares for treasury		(3,229	)
Purchase of 118,300 common shares for treasury		—			(3,258	)
Balance at June 30	$	197,569		$	178,571

CITY HOLDING COMPANY AND SUBSIDIARIES

Condensed Consolidated Quarterly Statements of Income

(Unaudited) ($ in 000s, except per share data)

	Quarter Ended
	June 30 2004			March 31 2004			Dec. 31 2003			Sept. 30 2003			June 30 2003
Interest income	$	29,293		$	30,175		$	29,581		$	28,341		$	29,669
Taxable equivalent adjustment		246			257			257			271			300
Interest income (FTE)		29,539			30,432			29,838			28,612			29,969
Interest expense		7,860			7,863			7,497			7,812			7,991
Net interest income		21,679			22,569			22,341			20,800			21,978
Provision for loan losses		—			—			(1,000	)		(1,900	)		(3,300	)
Net interest income after provision for loan losses		21,679			22,569			23,341			22,700			25,278
Noninterest income		16,670			11,025			10,367			10,639			9,672
Noninterest expense		17,266			16,538			18,033			15,405			15,978
Income before income taxes		21,083			17,056			15,675			17,934			18,972
Income tax expense		7,539			5,796			4,746			6,130			6,535
Taxable equivalent adjustment		246			257			257			271			300
Net income	$	13,298		$	11,003		$	10,672		$	11,533		$	12,137
Basic earnings per share	$	0.80		$	0.66		$	0.64		$	0.69		$	0.73
Diluted earnings per share		0.79			0.65			0.63			0.68			0.72
Cash dividends declared per share		0.22			0.22			0.20			0.20			0.20
Average Common Share (000s):
Outstanding		16,694			16,681			16,641			16,636			16,622
Diluted		16,935			16,972			16,961			16,953			16,918
Net Interest Margin		4.20	%		4.42	%		4.74	%		4.50	%		4.72	%

CITY HOLDING COMPANY AND SUBSIDIARIES

Non-Interest Income and Non-Interest Expense

(Unaudited) ($ in 000s)

	Quarter Ended
	June 30 2004			March 31 2004		Dec. 31 2003		Sept. 30 2003			June 30 2003
Non-Interest Income:
Service charges	$	8,110		$	7,381	$	7,762	$	7,285		$	7,294
Insurance commissions		718			660		510		604			591
Trust fee income		627			487		379		493			355
Bank owned life insurance		591			581		593		414			156
Mortgage banking income		71			69		60		109			180
Net proceeds from litigation settlement		5,453			—		—		—			—
Other income		976			835		776		2,544			1,074
Subtotal		16,546			10,013		10,080		11,449			9,650
Investment security gains (losses)		124			1,012		287		(810	)		22
Total Non-Interest Income	$	16,670		$	11,025	$	10,367	$	10,639		$	9,672
Non-Interest Expense:
Salaries and employee benefits	$	8,390		$	8,127	$	7,916	$	7,787		$	7,629
Occupancy and equipment		1,459			1,494		1,550		1,431			1,489
Depreciation		974			1,006		1,056		1,055			1,113
Professional fees and litigation expense		1,181			844		542		519			981
Postage, delivery, and statement mailings		598			685		584		538			744
Advertising		651			656		578		555			557
Telecommunications		463			466		466		485			518
Insurance and regulatory		320			331		297		318			326
Office supplies		273			312		278		310			405
Repossessed asset (gains) losses and expenses		(108	)		57		19		28			(547	)
Loss on early exinguishment of debt		263			—		2,246		—			142
Other expenses		2,802			2,560		2,501		2,379			2,621
Total Non-Interest Expense	$	17,266		$	16,538	$	18,033	$	15,405		$	15,978
Employees (Full Time Equivalent)		692			690		701		709			719
Branch Locations		54			54		54		55			55

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Balance Sheets

($ in 000s)

	June 30 2004			December 31 2003
	(Unaudited)
Assets
Cash and due from banks	$	47,801		$	58,216
Interest-bearing deposits in depository institutions		3,890			5,122
Federal funds sold		—			—
Cash and cash equivalents		51,691			63,338
Investment securities available-for-sale, at fair value		615,095			645,663
Investment securities held-to-maturity, at amortized cost		62,851			59,298
Total investment securities		677,946			704,961
Loans:
Residential real estate		459,759			446,134
Home equity		301,231			282,481
Commercial real estate		374,292			351,284
Other commercial		73,139			76,167
Installment		24,722			33,651
Indirect		16,140			24,707
Credit card		17,961			18,979
Previously securitized loans		83,385			58,788
Gross Loans		1,350,629			1,292,191
Allowance for loan losses		(19,833	)		(21,426	)
Net loans		1,330,796			1,270,765
Retained interests		—			34,320
Bank owned life insurance		50,386			49,214
Premises and equipment		34,331			35,338
Accrued interest receivable		9,286			10,216
Net deferred tax assets		29,488			29,339
Other assets		17,408			16,939
Total Assets	$	2,201,332		$	2,214,430
Liabilities
Deposits:
Noninterest-bearing	$	310,093		$	309,706
Interest-bearing:
Demand deposits		405,690			393,443
Savings deposits		280,496			278,117
Time deposits		661,940			655,496
Total deposits		1,658,219			1,636,762
Short-term borrowings		125,351			168,403
Long-term debt		193,836			190,836
Other liabilities		26,357			27,739
Total Liabilities		2,003,763			2,023,740
Stockholders’ Equity
Preferred stock, par value $25 per share: 500,000 shares authorized; none issued		—			—
Common stock, par value $2.50 per share: 50,000,000 shares authorized; 16,919,248 shares issued and outstanding at June 30, 2004 and December 31, 2003, including 299,378 and 274,881 shares in treasury		42,298			42,298
Capital surplus		56,117			57,364
Retained earnings		113,426			96,460
Cost of common stock in treasury		(7,818	)		(6,803	)
Accumulated other comprehensive (loss) income:
Unrealized (loss) gain on securities available-for-sale		(4,063	)		3,762
Underfunded pension liability		(2,391	)		(2,391	)
Total Accumulated Other Comprehensive (Loss) Income		(6,454	)		1,371
Total Stockholders’ Equity		197,569			190,690
Total Liabilities and Stockholders’ Equity	$	2,201,332		$	2,214,430

CITY HOLDING COMPANY AND SUBSIDIARIES

Loan Portfolio

(Unaudited) ($ in 000s)

	June 30 2004		March 31 2004		Dec. 31 2003		Sept. 30 2003		June 30 2003
Residential real estate	$	459,759	$	439,643	$	446,134	$	448,455	$	452,014
Home equity		301,231		292,192		282,481		272,091		253,178
Commercial real estate		374,292		347,724		351,284		317,549		301,321
Other commercial		73,139		74,743		76,167		79,090		85,356
Loans to depository institutions		—		20,000		—		—		—
Installment		24,722		28,351		33,651		39,466		46,877
Indirect		16,140		20,006		24,707		29,074		35,059
Credit card		17,961		18,119		18,979		19,133		19,155
Previously securitized loans		83,385		92,954		58,788		37,339		4,933
Gross Loans	$	1,350,629	$	1,333,732	$	1,292,191	$	1,242,197	$	1,197,893

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Average Balance Sheets, Yields, and Rates

(Unaudited) ($ in 000s)

	Three Months Ended June 30,
	2004							2003
	Average Balance			Interest		Yield/ Rate		Average Balance			Interest		Yield/ Rate
Assets:
Loan portfolio:
Residential real estate	$	450,436		$	6,719	5.97	%	$	455,545		$	7,787	6.84	%
Home equity		297,628			3,268	4.39	%		242,905			2,763	4.55	%
Commercial real estate		355,144			4,864	5.48	%		294,494			4,569	6.21	%
Other commercial		76,047			955	5.02	%		86,485			1,365	6.31	%
Loans to depository institutions		9,011			26	1.15	%		—			—	—
Installment		26,964			744	11.04	%		50,092			1,403	11.20	%
Indirect		18,015			491	10.90	%		38,190			1,031	10.80	%
Credit card		18,004			539	11.98	%		18,933			572	12.08	%
Previously securitized loans		90,752			3,778	16.65	%		1,719			87	20.24	%
Total loans		1,342,001			21,384	6.37	%		1,188,363			19,577	6.59	%
Securities:
Taxable		680,100			7,374	4.34	%		538,998			5,663	4.20	%
Tax-exempt		38,100			703	7.38	%		45,091			859	7.62	%
Total securities		718,200			8,077	4.50	%		584,089			6,522	4.47	%
Retained interest in securitized loans		547			67	48.99	%		81,774			3,842	18.79	%
Deposits in depository institutions		5,461			11	0.81	%		10,190			28	1.10	%
Federal funds sold		—			—	—			—			—	—
Total interest-earning assets		2,066,209			29,539	5.72	%		1,864,416			29,969	6.43	%
Cash and due from banks		43,485							45,391
Bank premises and equipment		34,588							36,334
Other assets		99,983							78,885
Less: Allowance for loan losses		(20,053	)						(29,380	)
Total assets	$	2,224,212						$	1,995,646
Liabilities:
Interest-bearing demand deposits	$	405,824		$	637	0.63	%	$	386,348		$	531	0.55	%
Savings deposits		282,620			366	0.52	%		294,108			395	0.54	%
Time deposits		662,611			4,712	2.84	%		620,543			4,672	3.01	%
Short-term borrowings		112,548			195	0.69	%		94,784			132	0.56	%
Long-term debt		215,264			1,950	3.62	%		109,643			2,261	8.25	%
Total interest-bearing liabilities		1,678,867			7,860	1.87	%		1,505,426			7,991	2.12	%
Noninterest-bearing demand deposits		313,410							291,971
Other liabilities		24,476							25,645
Stockholders’ equity		207,459							172,604
Total liabilities and stockholders’ equity	$	2,224,212						$	1,995,646
Net interest income				$	21,679						$	21,978
Net yield on earning assets						4.20	%						4.72	%

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Average Balance Sheets, Yields, and Rates

(Unaudited) ($ in 000s)

	Six Months Ended June 30,
	2004							2003
	Average Balance			Interest		Yield/ Rate		Average Balance			Interest		Yield/ Rate
Assets:
Loan portfolio:
Residential real estate	$	445,780		$	13,571	6.09	%	$	461,659		$	16,113	6.98	%
Home equity		291,947			6,444	4.41	%		231,821			5,344	4.61	%
Commercial real estate		352,008			9,731	5.53	%		283,730			8,992	6.34	%
Other commercial		75,320			1,917	5.09	%		89,629			2,794	6.23	%
Loans to depository institutions		6,154			35	1.14	%		9,394			78	1.66	%
Installment		29,028			1,621	11.17	%		54,505			3,082	11.31	%
Indirect		20,204			1,103	10.92	%		41,663			2,248	10.79	%
Credit card		18,209			1,093	12.01	%		18,918			1,141	12.06	%
Previously securitized loans		87,797			7,592	17.29	%		865			87	20.12	%
Total loans		1,326,447			43,107	6.50	%		1,192,184			39,879	6.69	%
Securities:
Taxable		677,143			14,598	4.31	%		514,553			10,876	4.23	%
Tax-exempt		39,037			1,437	7.36	%		46,317			1,738	7.50	%
Total securities		716,180			16,035	4.48	%		560,870			12,614	4.50	%
Retained interest in securitized loans		6,636			807	24.32	%		81,535			7,365	18.07	%
Deposits in depository institutions		5,554			22	0.79	%		14,294			82	1.15	%
Federal funds sold		—			—	—			6,868			36	1.05	%
Total interest-earning assets		2,054,817			59,971	5.84	%		1,855,751			59,976	6.46	%
Cash and due from banks		44,097							46,498
Bank premises and equipment		34,796							36,872
Other assets		102,519							78,737
Less: Allowance for loan losses		(20,637	)						(29,248	)
Total assets	$	2,215,592						$	1,988,610
Liabilities:
Interest-bearing demand deposits	$	401,639		$	1,241	0.62	%	$	381,445		$	1,051	0.55	%
Savings deposits		281,006			729	0.52	%		291,204			846	0.58	%
Time deposits		662,171			9,437	2.85	%		620,494			9,468	3.05	%
Short-term borrowings		114,881			361	0.63	%		101,189			566	1.12	%
Long-term debt		218,242			3,955	3.62	%		111,064			4,545	8.18	%
Total interest-bearing liabilities		1,677,939			15,723	1.87	%		1,505,396			16,476	2.19	%
Noninterest-bearing demand deposits		310,509							284,984
Other liabilities		24,569							27,399
Stockholders’ equity		202,575							170,831
Total liabilities and stockholders’ equity	$	2,215,592						$	1,988,610
Net interest income				$	44,248						$	43,500
Net yield on earning assets						4.31	%						4.69	%

CITY HOLDING COMPANY AND SUBSIDIARIES

Analysis of Risk-Based Capital

(Unaudited) ($ in 000s)

	June 30 2004(a)			March 31 2004			Dec. 31 2003			Sept. 30 2003			June 30 2003
Tier I Capital:
Stockholders’ equity	$	197,569		$	202,204		$	190,690		$	183,463		$	178,571
Goodwill and other intangibles		(6,357	)		(6,408	)		(6,459	)		(6,510	)		(6,574	)
Accumulated other comprehensive income		6,454			(4,742	)		(1,372	)		(1,673	)		(5,134	)
Qualifying trust preferred stock		28,000			30,000			30,000			60,597			57,812
Excess retained interests		—			—			—			—			(23,809	)
Excess deferred tax assets		(6,922	)		(807	)		(8,053	)		(7,731	)		(9,048	)
Total tier I capital	$	218,744		$	220,247		$	204,806		$	228,146		$	191,818
Total Risk-Based Capital:
Tier I capital	$	218,744		$	220,247		$	204,806		$	228,146		$	191,818
Qualifying allowance for loan losses		18,939			19,169			21,426			23,436			24,759
Qualifying trust preferred stock		—			—			—			26,903			29,688
Total risk-based capital	$	237,683		$	239,416		$	226,232		$	278,485		$	246,265
Net risk-weighted assets	$	1,514,261		$	1,505,892		$	1,717,206		$	1,783,444		$	1,654,924
Ratios:
Average stockholders’ equity to average assets		9.33	%		8.96	%		9.12	%		9.23	%		8.65	%
Risk-based capital ratios:
Tier I capital		14.43	%		14.63	%		11.93	%		12.79	%		11.59	%
Total risk-based capital		15.68	%		15.89	%		13.17	%		15.62	%		14.88	%
Leverage capital		9.89	%		10.01	%		10.04	%		11.50	%		9.81	%

(a) June 30, 2004 risk-based capital ratios are estimated.

CITY HOLDING COMPANY AND SUBSIDIARIES

Intangibles

(Unaudited) ($ in 000s)

	As of and for the Quarter Ended
	June 30 2004		March 31 2004		Dec. 31 2003		Sept. 30 2003		June 30 2003
Intangibles, net	$	6,357	$	6,408	$	6,459	$	6,510	$	6,574
Intangibles amortization expense		51		51		51		64		78

CITY HOLDING COMPANY AND SUBSIDIARIES

Summary of Loan Loss Experience

(Unaudited) ($ in 000s)

	Quarter Ended
	June 30 2004			March 31 2004			Dec. 31 2003			Sept. 30 2003			June 30 2003
Balance at beginning of period	$	20,289		$	21,426		$	23,436		$	26,092		$	28,910
Charge-offs:
Residential real estate		173			217			419			251			388
Home equity		66			133			18			65			143
Commercial real estate		44			342			130			294			—
Other commercial		22			159			28			203			2
Installment		457			588			715			678			676
Overdraft deposit accounts		610			787			583			596			501
Total charge-offs		1,372			2,226			1,893			2,087			1,710
Recoveries:
Residential real estate		133			104			135			190			246
Home equity		—			5			—			1			61
Commercial real estate		201			311			141			424			580
Other commercial		127			55			182			259			729
Installment		202			260			211			249			408
Overdraft deposit accounts		253			354			214			208			168
Total recoveries		916			1,089			883			1,331			2,192
Net charge-offs (recoveries)		456			1,137			1,010			756			(482	)
(Recovery of) provision for loan losses		—			—			(1,000	)		(1,900	)		(3,300	)
Balance at end of period	$	19,833		$	20,289		$	21,426		$	23,436		$	26,092
Loans outstanding	$	1,350,629		$	1,333,732		$	1,292,191		$	1,242,197		$	1,197,893
Average loans outstanding		1,342,001			1,310,894			1,271,581			1,222,012			1,188,363
Allowance as a percent of loans outstanding		1.47	%		1.52	%		1.66	%		1.89	%		2.18	%
Allowance as a percent of non-performing loans		493	%		432	%		529	%		551	%		701	%
Net charge-offs (recoveries) (annualized) as a percent of average loans outstanding		0.14	%		0.35	%		0.32	%		0.25	%		(0.16	)%

CITY HOLDING COMPANY AND SUBSIDIARIES

Summary of Non-Performing Assets

(Unaudited) ($ in 000s)

	June 30 2004			March 31 2004			Dec. 31 2003			Sept. 30 2003			June 30 2003
Nonaccrual loans	$	1,792		$	2,268		$	2,140		$	2,509		$	1,919
Accruing loans past due 90 days or more		689			1,039			1,195			1,229			1,744
Previously securitized loans past due 90 days or more		1,544			1,388			717			516			61
Restructured loans		—			—			—			—			—
Total non-performing loans		4,025			4,695			4,052			4,254			3,724
Other real estate owned		171			296			312			477			623
Total non-performing assets	$	4,196		$	4,991		$	4,364		$	4,731		$	4,347
Non-performing assets as a percent of loans and other real estate owned		0.31	%		0.37	%		0.34	%		0.38	%		0.36	%