NASDAQ$CHCO

City Holding Company · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Announced third quarter results with increased net interest income and noninterest income, and a decrease in nonperforming assets.

City Holding Company reported a quarterly net income of $22.7 million and diluted earnings of $1.47 per share for the quarter ended September 30, 2021. The company's financial performance continued its upward trend, with net interest income increasing by $1.6 million from the previous quarter and noninterest income (excluding security items) up by $1.3 million from the same quarter last year. Asset quality remained strong, with nonperforming assets declining to below $10 million.

  • Net income for the quarter was $22.7 million, with diluted earnings per share of $1.47.
  • Net interest income increased by $1.6 million compared to the second quarter of 2021, driven by fee income from Paycheck Protection Program (PPP) loans.
  • Noninterest income, excluding security items, increased by $1.3 million compared to the third quarter of 2020.
  • Nonperforming assets decreased to $9.0 million, representing 0.26% of total loans and other real estate owned.

Headline financials

Total Revenue

$57.4M

Previous: $55M+4.5%
EPS (adj)

$1.47

Previous: $1.25+17.6%
Leverage Ratio

8.7%

Previous: 10.2%-14.3%
Capital Expenditures

-$2.93M

Previous: -$4.35M+32.6%
Free Cash Flow

$19.8M

Previous: $15.8M+25.5%
Net Income

$22.7M

Previous: $20.1M+12.9%
Operating Income

$49M

Previous: $44.5M+10.0%
Gross Profit

$56.7M

Previous: $53.9M+5.1%
Cash & Equivalents

$640M

Previous: $253M+153.1%
Total Assets

$5.95B

Previous: $5.51B+8.0%
Stock-Based Comp

$652K

Previous: $753K-13.4%

Revenue & EPS history

City Holding · Revenue · Quarterly

$57.4M

Q3 2021+4.5%vs Q3 2020
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

City Holding · $48M total across 5 segments · Q1 2020

  • Comm/Ag Loans
    $20.5M
  • Residential RE
    $19.9M
  • Taxable Securities
    $5.87M
  • Tax-Exempt Securities
    $895K
  • Installment Loans
    $863K

Forward guidance

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.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+1.2%

Avg return

Earnings day

+1.1%

Avg return

5 days after

+2.5%

Avg return

30 days after

65%

43 / 66 earnings

Positive

+6.7%

Q1 2017

Best reaction

-4.8%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%+1.2%+0.1%
Q4 2025+1.9%-0.3%+2.6%
Q3 2025+1.5%-0.2%+1.5%
Q2 2025-0.7%-0.8%+1.4%
Q1 2025+0.7%+0.3%+1.3%
Q4 2024-0.1%+0.1%-1.4%
Q3 2024-1.0%+1.1%+13.2%
Q2 2024-1.7%+1.0%-6.0%
Q1 2024+2.5%+0.6%-2.0%
Q4 2023-1.3%+0.5%-4.9%
Q3 2023+1.1%+3.7%+9.9%
Q2 2023+1.8%+2.4%-5.9%
Q1 2023-2.1%+1.4%-1.7%
Q4 2022+2.3%+2.9%+10.5%
Q3 2022+4.3%+5.9%+3.2%
Q2 2022+0.2%+2.7%+9.4%
Q1 2022-0.5%-2.4%+0.9%
Q4 2021-0.8%-2.3%-6.1%
Q3 2021+4.6%+3.7%+3.3%
Q2 2021-0.3%+1.6%+6.8%
Q1 2021+0.0%+1.7%+4.1%
Q4 2020+3.6%-3.4%+8.4%
Q3 2020+4.1%+1.2%+12.9%
Q2 2020+0.5%-0.7%-0.2%
Q1 2020+4.4%-5.1%-5.2%
Q4 2019+0.8%+0.3%-9.0%
Q3 2019-0.2%-0.6%+0.9%
Q2 2019+1.3%+4.7%+2.5%
Q1 2019+1.9%-1.5%-2.6%
Q4 2018+3.0%+3.0%+13.7%
Q3 2018-0.7%-1.0%+5.1%
Q2 2018+2.9%+4.5%+6.1%
Q1 2018+3.5%+4.3%+3.8%
Q4 2017+0.2%+1.1%+0.4%
Q3 2017-1.7%-1.9%-6.6%
Q2 2017+4.7%+0.8%-4.7%
Q1 2017+6.7%+5.4%-3.4%
Q4 2016+3.8%+3.4%+2.5%
Q3 2016+5.8%+5.5%+25.6%
Q2 2016+1.9%+1.0%+8.4%
Q1 2016+2.6%
Q4 2015+1.9%
Q3 2015-2.2%
Q2 2015-4.8%
Q1 2015-1.8%
Q4 2014+2.4%
Q3 2014-1.8%
Q2 2014-0.3%
Q1 2014+3.0%
Q4 2011+0.5%
Q4 2013-0.3%
Q3 2013+1.8%
Q2 2013+2.8%
Q1 2013-0.1%
Q4 2012+3.9%
Q3 2012+1.8%
Q2 2012+0.3%
Q1 2011-0.3%
Q1 2012+2.5%
Q4 2009+0.5%
Q3 2010-4.1%
Q3 2011-4.1%
Q2 2011+5.0%
Q4 2010+5.0%
Q2 2010+5.0%
Q1 2010+4.3%

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