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Sep 30, 2022
City Holding Q3 2022 Earnings Report
Announced third quarter results with net income of $27.4 million and diluted earnings of $1.83 per share.
Key Takeaways
City Holding Company reported a strong third quarter, with net income reaching $27.4 million and diluted earnings per share of $1.83. The company's net interest income increased to $48.8 million, driven by higher loan and investment yields. Credit quality remained solid, and the company's capital ratios were well above regulatory requirements.
Net income for the quarter ended September 30, 2022, was $27.4 million, with diluted earnings per share of $1.83.
Net interest income increased to $48.8 million, driven by higher loan and investment yields.
The ratio of nonperforming assets to total loans and other real estate owned decreased modestly to 0.18%.
The Board of Directors approved a quarterly cash dividend of $0.65 per share, an 8.3% increase from the previous quarter.
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.
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