CITY HOLDING CO
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
CHCO$142.59-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (Unaudited)
| Nine months ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Net income | $88,447 | $86,913 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Amortization, net | 5,709 | 6,496 |
| Provision for credit losses | 1,520 | 3,543 |
| Depreciation of premises and equipment | 3,153 | 3,452 |
| Deferred income tax expense (benefit) | 536 | (1,491) |
| Net periodic employee benefit cost | 46 | 39 |
| Unrealized and realized investment securities gains, net | (552) | (110) |
| Stock-compensation expense | 2,683 | 2,407 |
| Excess tax expense from stock-compensation | 298 | 203 |
| Increase in value of bank-owned life insurance | (3,188) | (4,819) |
| Loans held for sale | ||
| Loans originated for sale | (8,383) | (9,591) |
| Proceeds from the sale of loans originated for sale | 8,452 | 9,713 |
| Gain on sale of loans | (69) | (122) |
| Change in accrued interest receivable | (1,495) | (69) |
| Change in other assets | 4,914 | 12,068 |
| Change in other liabilities | (3,935) | (4,588) |
| Net Cash Provided by Operating Activities | 98,136 | 104,044 |
| Net decrease (increase) in loans | (30,911) | (107,988) |
| Securities available-for-sale | ||
| Purchases | (192,555) | (56,734) |
| Proceeds from sales of securities available-for-sale | — | 103,249 |
| Proceeds from maturities and calls | 100,415 | 93,927 |
| Other investments | ||
| Purchases | (242) | (5,970) |
| Proceeds from sales | 903 | 77 |
| Proceeds from maturities and calls | — | 747 |
| Purchases of premises and equipment | (1,750) | (2,392) |
| Proceeds from the disposals of premises and equipment | 92 | 283 |
| Proceeds from bank-owned life insurance policies | 1,248 | 207 |
| Payments for low income housing tax credits | (10,378) | (6,577) |
| Acquisition of Citizens Commerce Bancshares, Inc. | — | 14,013 |
| Net Cash (Used in) Provided by Investing Activities | (133,178) | 32,842 |
| Net decrease in non-interest-bearing deposits | (3,266) | (78,236) |
| Net increase (decrease) in interest-bearing deposits | 171,753 | (145,344) |
| Net increase (decrease) in short-term borrowings | 4,297 | (18,793) |
| Proceeds from long-term debt | 50,000 | 100,000 |
| Purchases of treasury stock | (17,896) | (53,827) |
| Proceeds from exercise of stock options | 292 | — |
| Lease payments | (599) | (609) |
| Dividends paid | (31,866) | (29,361) |
| Net Cash Provided by (Used in) Financing Activities | 172,715 | (226,170) |
| Increase (decrease) in Cash and Cash Equivalents | 137,673 | (89,284) |
| Cash and cash equivalents at beginning of period | 156,276 | 200,000 |
| Cash and Cash Equivalents at End of Period | $293,949 | $110,716 |
| Supplemental Cash Flow Information: | ||
|---|---|---|
| Cash paid for interest | 60,631 | 32,525 |
| Cash paid for income taxes | 21,740 | 26,162 |
| Acquisition | ||
| Identifiable assets acquired (net of purchase consideration) | $— | $319,738 |
| Liabilities assumed | — | 307,113 |
| Goodwill | — | 41,175 |
| Core deposit intangible | — | 8,278 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.