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Mar 31, 2020
City Holding Q1 2020 Earnings Report
Reported record quarterly results, driven by net income and diluted earnings per share, including gains from Visa Inc. stock sale.
Key Takeaways
City Holding Company reported a record quarterly net income of $29.0 million and diluted earnings of $1.78 per share for the quarter ended March 31, 2020. The results include a significant gain from the sale of Visa Inc. Class B common stock.
Return on assets and return on tangible equity were 2.29% and 20.6%, respectively.
Net interest income increased by $0.6 million (1.4%) from the previous quarter.
A provision for credit losses of $8.0 million was recorded due to the potential economic impact of the COVID-19 pandemic.
The company repurchased 182,000 common shares at a weighted average price of $71.31 per share.
Revenue by Segment
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