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Dec 31, 2024
City Holding Q4 2024 Earnings Report
City Holding reported flat net interest income and increased non-interest income, driven by higher service charges and trust and investment management fees.
Key Takeaways
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.
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.
Positive Outlook
- 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
Challenges Ahead
- 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
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Avg. Return Before/After Earnings
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