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Mar 31, 2023
City Holding Q1 2023 Earnings Report
Net income of $24.3 million and diluted earnings of $1.63 per share were announced.
Key Takeaways
City Holding Company reported a quarterly net income of $24.3 million and diluted earnings of $1.63 per share for the quarter ended March 31, 2023. The acquisition of Citizens Commerce Bancshares, Inc. was completed during the quarter, contributing to the results.
Net income for the quarter ended March 31, 2023, was $24.3 million, with diluted earnings per share of $1.63.
Net interest income increased by $1.4 million, or 2.7%, to $53.5 million for the quarter.
Non-interest income was $18.7 million, compared to $17.5 million for the same quarter last year.
Loans increased $248.4 million (6.8%) from December 31, 2022 to $3.89 billion at March 31, 2023, primarily due to the acquisition of Citizens.
City Holding
City Holding
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. Forward-looking statements 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.