NASDAQ$CHCO

City Holding Company · Q4 2024 earnings

Q4 2024 earnings · · Before market open · Investor relations

Briefing

City Holding reported flat net interest income and increased non-interest income, driven by higher service charges and trust and investment management fees.

City Holding Company announced record annual earnings, with net income of $117.1 million and diluted earnings per share of $7.89 for the year ended December 31, 2024. The company's net interest income remained flat at $55.6 million for the fourth quarter of 2024. Non-interest income increased due to higher service charges and trust and investment management fee income.

  • Net interest income remained flat at $55.6 million for Q4 2024.
  • Non-interest income increased to $16.1 million for Q4 2024, driven by higher service charges and trust and investment management fee income.
  • Provision for credit losses was $0.3 million for Q4 2024.
  • Non-interest expenses increased to $36.9 million for Q4 2024, primarily due to increased equipment and software expenses and salaries and employee benefits.

Headline financials

Total Revenue

$71.7M

Previous: $68.9M+4.1%
EPS (adj)

$1.94

Previous: $1.84+5.4%
Net Interest Margin

3.8%

No prior period
Efficiency Ratio

48.4%

No prior period
ROAA

1.8%

No prior period
ROATE

19.4%

No prior period
Non-Interest Income %

25.8%

No prior period
P/E Ratio

15.27

No prior period
Avg Equity to Assets

11.5%

No prior period
Tangible Equity Ratio

9.1%

No prior period
CHCO CET I

16.5%

No prior period
CHCO Tier I

16.5%

No prior period
CHCO Total Capital

17.0%

No prior period
CNB CET I

13.6%

No prior period
CNB Tier I

13.6%

No prior period
CNB Total Capital

14.1%

No prior period
CNB Leverage Ratio

8.7%

No prior period
NPAs to Loans+OREO

0.3%

No prior period
Net Charge-Off Ratio

0.0%

No prior period
Loan Loss Allowance %

0.5%

No prior period
Past Due Loan %

0.2%

No prior period
Leverage Ratio

10.6%

No prior period
Capital Expenditures

-$956K

Previous: $570K-267.7%
Net Income

$28.7M

Previous: $27.5M+4.4%
Operating Income

$34.5M

Previous: $34.1M+1.1%

Revenue & EPS history

City Holding · Revenue · Quarterly

$71.7M

Q4 2024+4.1%vs Q4 2023
Beat estimate in 7 of 15 quarters(47%)
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 forward-looking statements that express only management’s beliefs regarding future results or events and are subject to inherent uncertainty, risks, and changes in circumstances, many of which are outside of management’s control.

Tailwinds

  • Continued strong capitalization
  • Access to borrowing facilities with the Federal Reserve Bank and the Federal Home Loan Bank
  • High regulatory capital ratios
  • Strong deposit mix weighted toward checking and saving accounts
  • High customer satisfaction

Headwinds

  • General economic conditions
  • Credit risk
  • Changes in the real estate market
  • Changes in the interest rate environment
  • Operational risk, including cybersecurity risk and risk of fraud, data processing system failures, and network breaches

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 Q4 2024

Historical avgQ4 2024

+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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