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Sep 30, 2021
City Holding Q3 2021 Earnings Report
Announced third quarter results with increased net interest income and noninterest income, and a decrease in nonperforming assets.
Key Takeaways
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.
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.
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