Form 8-K

8-K — CITY HOLDING CO

Accession: 0000726854-26-000103

Filed: 2026-04-23

Period: 2026-04-23

CIK: 0000726854

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — chco-20260423.htm (Primary)

EX-99.1 (chco03-31x2026exhibit991.htm)

GRAPHIC (chco-20260423_g1.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: chco-20260423.htm · Sequence: 1

chco-20260423

0000726854false00007268542026-04-232026-04-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C., 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): April 23, 2026

CITY HOLDING COMPANY

(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 0-11733

West Virginia 55-0619957

(State or Other Jurisdiction of (I.R.S. Employer

Incorporation or Organization) Identification No.)

25 Gatewater Road, Cross Lanes, West Virginia 25313

(Address of Principal Executive Offices, Including Zip Code)

304-769-1100

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

symbol(s) Name of each exchange on which registered

Common Stock $2.50 Par Value CHCO NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

-1-

Section 2 - Financial Information

Item 2.02 Results of Operations and Financial Condition.

On April 23, 2026, City Holding Company ("the Company") issued a news release, attached as Exhibit 99.1, announcing the Company's earnings results for the first quarter ended March 31, 2026. Furnished as Exhibit 99.1 and incorporated herein by reference is the news release issued by the Company.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

99.1

News Release issued April 23, 2026

Signatures

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the Undersigned hereunto duly authorized.

Dated: April 23, 2026

City Holding Company

By: /s/ David L. Bumgarner

David L. Bumgarner

Executive Vice President & Chief Financial Officer

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EX-99.1

Filename: chco03-31x2026exhibit991.htm · Sequence: 2

Document

NEWS RELEASE

For Immediate Release

April 23, 2026

For Further Information Contact:

David L. Bumgarner, Executive Vice President and Chief Financial Officer

(304) 769-1169

City Holding Company Announces Quarterly Results

Charleston, West Virginia – City Holding Company (“Company” or “City”) (NASDAQ:CHCO), a $6.8 billion bank holding company headquartered in Charleston, West Virginia, today announced net income of $31.7 million and diluted earnings of $2.20 per share for the quarter ended March 31, 2026. For the quarter ended March 31, 2026, the Company achieved a return on assets of 1.92% and a return on tangible equity of 19.3%.

Net Interest Income

The Company’s net interest income decreased approximately $1.0 million, or 1.6%, from $60.6 million during the fourth quarter of 2025 to $59.6 million during the first quarter of 2026. The Company’s tax equivalent net interest income decreased approximately $0.9 million, or 1.5%, from $60.8 million for the fourth quarter of 2025 to $59.9 million for the first quarter of 2026. This decrease was primarily due to a decrease in the yield on loans and a decrease in the yield on investments which decreased net interest income by $1.5 million and $1.1 million, respectively. The decline in net interest income due to the decrease in the yield on investments was primarily attributable to the maturities of $150 million of swap agreements in October 2025 ($50 million) and November 2025 ($100 million). In addition, net interest income decreased $0.4 million due to a decrease in the average balances of investments ($36.1 million) and $0.3 million due to a decrease in average balances of deposits in depository institutions ($34.9 million).

These decreases were partially offset by a decrease in the cost of interest bearing liabilities (11 basis points) and an increase in average loans outstanding ($60.5 million), which increased net interest income by $1.6 million and $0.9 million, respectively. The Company’s reported net interest margin improved from 3.94% for the fourth quarter of 2025 to 3.97% for the first quarter of 2026.

Credit Quality

The Company’s ratio of nonperforming assets to total loans and other real estate owned decreased from 0.32%, or $14.4 million, at December 31, 2025 to 0.27%, or $12.2 million, at March 31, 2026. Total past due loans increased modestly from $8.5 million, or 0.19% of total loans outstanding, at December 31, 2025, to $8.8 million, or 0.20% of total loans outstanding, at March 31, 2026.

As a result of the Company’s quarterly analysis of the adequacy of the allowance for credit losses, the Company recorded a provision for credit losses of $0.6 million in the first quarter of 2026, compared to no provision for credit losses for the comparable period in 2025, and a provision for credit losses of $1.1 million for the fourth quarter of 2025. The provision for credit losses in the first quarter of 2026 was primarily related to a commercial loan for a movie theater that had been transferred to nonaccrual status in the third quarter of 2024. Due to further cash flow deterioration, a $0.85 million charge-off was recorded in the quarter ending March 31, 2026, leaving an outstanding balance of approximately $5.0 million. This charge-off was partially offset by a decline in loan balances from the fourth quarter of 2025 and net recoveries (exclusive of the movie theater charge-off) during the quarter ended March 31, 2026.

Non-interest Income

Non-interest income increased $0.9 million from $18.7 million in the first quarter of 2025 to $19.6 million in the first quarter of 2026. This increase was due to an increase of $0.4 million, or 14.3%, in wealth and investment management fee income, a $0.3 million, or 43.6%, increase in other income, and an increase of $0.2 million, or 3.4%, in service charges. These increases were partially offset by a decrease in bank owned life insurance of $0.2 million.

Non-interest Expenses

Non-interest expenses increased $1.8 million, or 4.6%, from $37.6 million in the first quarter of 2025 to $39.4 million in the first quarter of 2026. This increase was largely due to an increase in salaries and employee benefit expenses ($1.0 million due to salary adjustments (3.5%) and increased health insurance (11.3%)), other tax related matters ($0.4 million), and equipment and software related expenses ($0.2 million).

Balance Sheet Trends

Loans decreased $11.3 million (0.3%) from December 31, 2025 to $4.50 billion at March 31, 2026. Commercial and industrial loans decreased $12.4 million and consumer loans decreased $4.4 million during the quarter ended March 31, 2026. These decreases were partially offset by increases in residential real estate loans of $3.3 million (0.2%) and commercial real estate loans of $1.6 million (0.1%).

Period-end deposit balances increased $42.6 million from December 31, 2025, to March 31, 2026. Total average depository balances decreased $15.4 million (0.3%) from the quarter ended December 31, 2025 to the quarter ended March 31, 2026 to $5.27 billion. Average interest-bearing demand balances decreased $20.0 million and average balances of noninterest-bearing demand deposits decreased $13.0 million. These decreases were partially offset by increases in savings deposit balances of $13.8 million and average time deposits of $3.8 million.

Income Tax Expense

The Company’s effective income tax rate for the first quarter of 2026 was 19.2%, compared to 19.2% for the year ended December 31, 2025, and 17.8% for the quarter ended March 31, 2025.

Capitalization and Liquidity

The Company’s loan to deposit ratio was 84.1% and its loan to asset ratio was 66.5% at March 31, 2026. The Company maintained investment securities totaling 21.8% of assets as of the same date. The Company’s deposit mix is weighted heavily toward checking and saving accounts, which fund 59.7% of assets at March 31, 2026. Time deposits funded 19.4% of assets at March 31, 2026, with only 14.9% of

time deposits having balances of more than $250,000, reflecting the core retail orientation of the Company.

City Holding Company is the parent company of City National Bank of West Virginia (“City National”). City National has borrowing facilities with the Federal Reserve Bank and the Federal Home Loan Bank that can be accessed as necessary to fund operations and to provide contingency funding. These borrowing facilities are collateralized by various loans held on City National’s balance sheet. As of March 31, 2026, City National had the capacity to borrow an additional $1.8 billion from these existing borrowing facilities. In addition, approximately $709 million of City National’s investment securities were pledged to collateralize customer repurchase agreements and various deposit accounts, leaving approximately $762 million of City National’s investment securities unpledged at March 31, 2026.

The Company continues to be strongly capitalized with tangible equity of $637 million at March 31, 2026. The Company’s tangible equity ratio decreased from 9.9% at December 31, 2025 to 9.7% at March 31, 2026. At March 31, 2026, City National’s Leverage Ratio was 9.2%, its Common Equity Tier I ratio was 14.4%, its Tier I Capital ratio was 14.4%, and its Total Risk-Based Capital ratio was 14.8%. These regulatory capital ratios are significantly above levels required to be considered “well capitalized,” which is the highest possible regulatory designation.

On March 25, 2026, the Board of Directors of the Company approved a quarterly cash dividend of $0.87 per share, payable April 30, 2026, to shareholders of record as of April 15, 2026. On March 25, 2026, the Company announced that the Board of Directors authorized the Company to buy back up to 1,000,000 shares of its common stock (approximately 7% of outstanding shares) in open market transactions at prices that are accretive to the earnings per share of continuing shareholders (the “2026 Program”). No time limit was placed on the duration of the 2026 Program. As part of this authorization, the Company terminated its previous repurchase program that was approved in January 2024 (the "2024 Program"). The Company had repurchased 822,634 shares under the 2024 Program. During the quarter ended March 31, 2026, the Company repurchased 262,017 common shares at a weighted average price of $117.79 per share as part of a one million share repurchase plan authorized by the Board of Directors in January 2024. As of March 31, 2026, the Company could repurchase approximately 985,000 shares under the current plan (2026 Program).

City National operates 96 branches across West Virginia, Kentucky, Virginia, and Ohio.

Forward-Looking Information

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. Uncertainty, risks, changes in circumstances and other factors could cause the Company’s actual results to differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ from those discussed in such forward-looking statements include, but are not limited to those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 under “ITEM 1A Risk Factors” and the following: (1) general economic conditions, especially in the communities and markets in which we conduct our business; (2) credit risk, including risk that negative credit quality trends may lead to a deterioration of asset quality, risk that our allowance for credit losses may not be sufficient to absorb actual losses in our loan portfolio, and risk from concentrations in our loan portfolio; (3) changes in the real estate market, including the value of collateral securing portions of our loan portfolio; (4) changes in the interest rate environment; (5) operational risk, including cybersecurity risk and risk of fraud, data processing system failures, and network breaches; (6) changes in technology and increased competition, including competition from non-bank financial institutions or financial technology companies; (7)

changes in consumer preferences, spending and borrowing habits, demand for our products and services, and customers’ performance and creditworthiness; (8) difficulty growing loan and deposit balances; (9) our ability to effectively execute our business plan, including with respect to future acquisitions; (10) changes in regulations, laws, taxes, government policies, monetary policies and accounting policies affecting bank holding companies and their subsidiaries; (11) deterioration in the financial condition of the U.S. banking system may impact the valuations of investments the Company has made in the securities of other financial institutions; (12) regulatory enforcement actions and adverse legal actions; (13) difficulty attracting and retaining key employees; and (14) other economic, competitive, technological, operational, governmental, regulatory, and market factors affecting our operations. Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Company and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made. Further, the Company is required to evaluate subsequent events through the filing of its March 31, 2026 Form 10-Q. The Company will continue to evaluate the impact of any subsequent events on the preliminary March 31, 2026 results and will adjust the amounts if necessary.

CITY HOLDING COMPANY AND SUBSIDIARIES

Financial Highlights

(Unaudited)

Three Months Ended

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Earnings

Net Interest Income (fully taxable equivalent) $ 59,890 $ 60,825 $ 61,294 $ 59,116 $ 56,007

Net Income available to common shareholders 31,735 31,568 35,188 33,387 30,342

Per Share Data

Earnings per share available to common shareholders:

Basic $ 2.20 $ 2.18 $ 2.41 $ 2.29 $ 2.06

Diluted 2.20 2.18 2.41 2.29 2.06

Weighted average number of shares (in thousands):

Basic 14,270 14,359 14,457 14,466 14,616

Diluted 14,274 14,366 14,463 14,471 14,631

Period-end number of shares (in thousands) 14,111 14,354 14,495 14,495 14,650

Cash dividends declared $ 0.87 $ 0.87 $ 0.87 $ 0.79 $ 0.79

Book value per share (period-end) 56.29 56.41 55.12 52.72 51.63

Tangible book value per share (period-end) 45.14 45.41 44.19 41.76 40.74

Market data:

High closing price $ 127.84 $ 126.71 $ 133.58 $ 123.42 $ 120.39

Low closing price 116.62 117.04 118.89 108.93 114.48

Period-end closing price 119.52 119.20 123.87 122.42 117.47

Average daily volume (in thousands) 111 90 112 76 63

Treasury share activity:

Treasury shares repurchased (in thousands) 262 141 — 175 81

Average treasury share repurchase price $ 117.79 $ 119.12 $ — $ 111.09 $ 117.42

Key Ratios (percent)

Return on average assets 1.92 % 1.86 % 2.11 % 2.03 % 1.89 %

Return on average tangible equity 19.3 % 19.2 % 22.5 % 22.7 % 20.7 %

Yield on interest earning assets 5.24 % 5.29 % 5.43 % 5.38 % 5.32 %

Cost of interest bearing liabilities 1.76 % 1.87 % 1.91 % 1.95 % 2.02 %

Net Interest Margin 3.97 % 3.94 % 4.04 % 3.95 % 3.84 %

Non-interest income as a percent of total revenue 24.8 % 24.9 % 24.7 % 24.7 % 25.1 %

Efficiency Ratio 48.9 % 48.2 % 46.0 % 49.0 % 49.6 %

Price/Earnings Ratio (a) 13.56 13.68 12.84 13.38 14.26

Capital (period-end)

Average Shareholders' Equity to Average Assets 12.32 % 12.04 % 11.81 % 11.37 % 11.56 %

Tangible equity to tangible assets 9.65 % 9.93 % 9.84 % 9.40 % 9.23 %

Consolidated City Holding Company risk based capital ratios (b):

CET I 16.87 % 16.94 % 17.19 % 16.78 % 16.84 %

Tier I 16.87 % 16.94 % 17.19 % 16.78 % 16.84 %

Total 17.33 % 17.40 % 17.66 % 17.26 % 17.36 %

Leverage 10.86 % 10.96 % 11.06 % 10.70 % 10.76 %

City National Bank risk based capital ratios (b):

CET I 14.35 % 13.42 % 15.83 % 15.10 % 14.38 %

Tier I 14.35 % 13.42 % 15.83 % 15.10 % 14.38 %

Total 14.81 % 13.88 % 16.30 % 15.58 % 14.90 %

Leverage 9.23 % 8.68 % 10.18 % 9.63 % 9.19 %

Other (period-end)

Branches 96 96 96 96 97

FTE 928 934 934 934 942

Assets per FTE (in thousands) $ 7,284 $ 7,201 $ 7,138 $ 7,064 $ 7,028

Deposits per FTE (in thousands) 5,757 5,679 5,629 5,619 5,580

(a) The price/earnings ratio is computed based on annualized quarterly earnings.

(b) March 31, 2026 risk-based capital ratios are estimated.

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Statements of Income

(Unaudited) ($ in 000s, except per share data)

Three Months Ended

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Interest Income

Interest and fees on loans $ 63,671 $ 64,376 $ 64,606 $ 62,588 $ 60,917

Interest on investment securities:

Taxable 13,129 14,657 15,947 15,347 13,945

Tax-exempt 1,027 1,014 708 712 724

Interest on deposits in depository institutions 942 1,400 829 1,644 1,802

Total Interest Income 78,769 81,447 82,090 80,291 77,388

Interest Expense

Interest on deposits 14,756 15,811 16,201 16,492 16,852

Interest on customer repurchase agreements 2,844 3,493 3,196 3,307 3,169

Interest on FHLB long-term advances 1,552 1,586 1,586 1,568 1,552

Total Interest Expense 19,152 20,890 20,983 21,367 21,573

Net Interest Income 59,617 60,557 61,107 58,924 55,815

Provision for (recovery of) credit losses 600 1,100 (500) (2,000) —

Net Interest Income After (Recovery of) Provision for Credit Losses 59,017 59,457 61,607 60,924 55,815

Non-Interest Income

Net gains on sale of investment securities — — 37 150 —

Unrealized gains (losses) recognized on securities still held 7 (416) 96 (263) (5)

Service charges 7,391 7,713 7,852 7,264 7,151

Bankcard revenue 6,889 7,291 7,324 7,233 6,807

Wealth and investment management fee income 3,317 3,352 3,075 3,016 2,902

Bank owned life insurance 979 864 919 942 1,153

Other income 1,047 834 851 894 729

Total Non-Interest Income 19,630 19,638 20,154 19,236 18,737

Non-Interest Expense

Salaries and employee benefits 20,183 20,198 19,779 19,995 19,194

Occupancy related expense 2,632 2,316 2,340 2,316 2,582

Equipment and software related expense 3,665 3,812 3,618 3,554 3,470

Bankcard expenses 2,118 2,376 2,191 2,203 2,215

Other tax-related matters 2,681 2,312 2,104 2,327 2,262

Advertising 884 577 668 964 873

FDIC insurance expense 805 756 761 756 776

Legal and professional fees 553 552 549 651 582

Other expenses 5,864 6,655 5,905 6,233 5,681

Total Non-Interest Expense 39,385 39,554 37,915 38,999 37,635

Income Before Income Taxes 39,262 39,541 43,846 41,161 36,917

Income tax expense 7,527 7,973 8,658 7,774 6,575

Net Income Available to Common Shareholders $ 31,735 $ 31,568 $ 35,188 $ 33,387 $ 30,342

Distributed earnings allocated to common shareholders $ 12,166 $ 12,372 $ 12,495 $ 11,346 $ 11,483

Undistributed earnings allocated to common shareholders 19,284 18,903 22,370 21,735 18,624

Net earnings allocated to common shareholders $ 31,450 $ 31,275 $ 34,865 $ 33,081 $ 30,107

Average common shares outstanding 14,270 14,359 14,457 14,466 14,616

Shares for diluted earnings per share 14,274 14,366 14,463 14,471 14,631

Basic earnings per common share $ 2.20 $ 2.18 $ 2.41 $ 2.29 $ 2.06

Diluted earnings per common share $ 2.20 $ 2.18 $ 2.41 $ 2.29 $ 2.06

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Balance Sheets

($ in 000s)

(Unaudited) (Unaudited) (Unaudited) (Unaudited)

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Assets

Cash and due from banks $ 135,816 $ 152,111 $ 129,665 $ 145,876 $ 135,029

Interest-bearing deposits in depository institutions 163,201 39,808 95,929 26,248 249,676

Cash and cash equivalents 299,017 191,919 225,594 172,124 384,705

Investment securities available-for-sale, at fair value 1,441,098 1,503,358 1,510,772 1,562,423 1,416,808

Other securities 29,462 29,474 29,878 29,768 29,809

Total investment securities 1,470,560 1,532,832 1,540,650 1,592,191 1,446,617

Gross loans 4,495,698 4,507,005 4,412,775 4,339,196 4,285,824

Allowance for credit losses (19,713) (19,862) (19,658) (19,724) (21,669)

Net loans 4,475,985 4,487,143 4,393,117 4,319,472 4,264,155

Bank owned life insurance 124,976 124,370 123,506 122,587 121,738

Premises and equipment, net 68,740 69,133 69,539 69,038 69,696

Accrued interest receivable 21,645 20,718 21,890 21,654 21,603

Net deferred tax assets 31,652 30,005 32,159 33,994 35,184

Goodwill and other intangible assets, net 157,383 157,871 158,414 158,957 159,501

Other assets 110,311 108,027 102,763 108,120 119,757

Total Assets $ 6,760,269 $ 6,722,018 $ 6,667,632 $ 6,598,137 $ 6,622,956

Liabilities

Deposits:

Noninterest-bearing $ 1,410,861 $ 1,413,621 $ 1,377,313 $ 1,383,247 $ 1,365,870

Interest-bearing:

Demand deposits 1,345,723 1,339,435 1,338,872 1,333,858 1,355,806

Savings deposits 1,276,884 1,244,571 1,238,832 1,244,179 1,260,903

Time deposits 1,310,136 1,303,361 1,302,575 1,287,536 1,275,890

Total deposits 5,343,604 5,300,988 5,257,592 5,248,820 5,258,469

Customer repurchase agreements 374,825 367,674 369,012 339,834 347,729

FHLB long-term advances 150,000 150,000 150,000 150,000 150,000

Other liabilities 97,450 93,676 92,085 95,268 110,422

Total Liabilities $ 5,965,879 $ 5,912,338 $ 5,868,689 $ 5,833,922 $ 5,866,620

Stockholders' Equity

Preferred stock — — — — —

Common stock 47,619 47,619 47,619 47,619 47,619

Capital surplus 173,130 174,598 173,733 172,853 174,300

Retained earnings 954,407 935,046 915,971 893,422 871,406

Treasury stock (299,503) (270,967) (254,153) (254,181) (237,038)

Accumulated other comprehensive loss:

Unrealized loss on securities available-for-sale (80,388) (75,741) (82,785) (94,056) (98,509)

Underfunded pension liability (875) (875) (1,442) (1,442) (1,442)

Total Accumulated Other Comprehensive Loss (81,263) (76,616) (84,227) (95,498) (99,951)

Total Stockholders' Equity 794,390 809,680 798,943 764,215 756,336

Total Liabilities and Stockholders' Equity $ 6,760,269 $ 6,722,018 $ 6,667,632 $ 6,598,137 $ 6,622,956

Regulatory Capital

Total CET 1 capital $ 720,535 $ 730,453 $ 726,739 $ 702,729 $ 698,721

Total tier 1 capital 720,535 730,453 726,739 702,729 698,721

Total risk-based capital 740,252 750,319 746,422 722,477 720,400

Total risk-weighted assets 4,270,400 4,312,112 4,226,712 4,186,844 4,150,062

CITY HOLDING COMPANY AND SUBSIDIARIES

Loan Portfolio

(Unaudited) ($ in 000s)

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Commercial and industrial $ 441,617 $ 453,975 $ 426,654 $ 409,317 $ 423,265

1-4 Family 221,165 210,232 204,280 199,400 195,641

Hotels 395,857 398,608 397,338 380,496 372,758

Multi-family 227,687 237,424 233,678 221,970 215,546

Non Residential Non-Owner Occupied 772,778 767,580 728,625 740,104 742,323

Non Residential Owner Occupied 251,382 253,398 239,058 236,935 232,732

Commercial real estate (1)

1,868,869 1,867,242 1,802,979 1,778,905 1,759,000

Residential real estate (2)

1,913,389 1,910,060 1,909,791 1,884,449 1,841,851

Home equity 224,723 224,701 218,750 207,906 203,253

Consumer 42,994 47,353 50,056 52,795 54,670

DDA overdrafts 4,106 3,674 4,545 5,824 3,785

Gross Loans $ 4,495,698 $ 4,507,005 $ 4,412,775 $ 4,339,196 $ 4,285,824

Construction loans included in:

(1) - Commercial real estate loans $ 39,519 $ 35,781 $ 31,892 $ 28,781 $ 25,683

(2) - Residential real estate loans 9,612 9,907 6,785 6,416 5,276

CITY HOLDING COMPANY AND SUBSIDIARIES

Asset Quality Information

(Unaudited) ($ in 000s)

Three Months Ended

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Allowance for Loan Losses

Balance at beginning of period $ 19,862 $ 19,658 $ 19,724 $ 21,669 $ 21,922

Charge-offs:

Commercial and industrial (4) — (7) — (30)

Commercial real estate (856) (27) (2) — (220)

Residential real estate (134) (181) (160) (49) —

Home equity (62) (102) (55) (97) (1)

Consumer (71) (36) (9) (36) (129)

DDA overdrafts (382) (387) (399) (327) (379)

Total charge-offs (1,509) (733) (632) (509) (759)

Recoveries:

Commercial and industrial 5 (347) 400 15 37

Commercial real estate 235 (144) 202 51 30

Residential real estate 30 (29) 35 49 1

Home equity 90 17 64 96 4

Consumer 20 4 16 25 9

DDA overdrafts 380 336 349 328 425

Total recoveries 760 (163) 1,066 564 506

Net (charge-offs) recoveries (749) (896) 434 55 (253)

Provision for (recovery of) credit losses 600 1,100 (500) (2,000) —

Balance at end of period $ 19,713 $ 19,862 $ 19,658 $ 19,724 $ 21,669

Loans outstanding $ 4,495,698 $ 4,507,005 $ 4,412,775 $ 4,339,196 $ 4,285,824

Allowance as a percent of loans outstanding 0.44 % 0.44 % 0.45 % 0.45 % 0.51 %

Allowance as a percent of non-performing loans 171.6 % 142.7 % 142.5 % 140.3 % 135.5 %

Average loans outstanding $ 4,496,109 $ 4,435,631 $ 4,378,342 $ 4,310,222 $ 4,292,794

Net charge-offs (recoveries) (annualized) as a percent of average loans outstanding 0.07 % 0.08 % (0.04) % (0.01) % 0.02 %

CITY HOLDING COMPANY AND SUBSIDIARIES

Asset Quality Information, Continued

(Unaudited) ($ in 000s)

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Nonaccrual Loans

Residential real estate $ 4,274 $ 4,497 $ 2,624 $ 3,602 $ 3,226

Home equity 313 308 498 283 269

Commercial and industrial 431 557 555 600 2,781

Commercial real estate 6,403 8,448 9,169 9,515 9,692

Consumer 2 — — — —

Total nonaccrual loans 11,423 13,810 12,846 14,000 15,968

Accruing loans past due 90 days or more 64 109 946 63 26

Total non-performing loans 11,487 13,919 13,792 14,063 15,994

Other real estate owned 693 482 485 185 457

Total Non-Performing Assets $ 12,180 $ 14,401 $ 14,277 $ 14,248 $ 16,451

Non-performing assets as a percent of loans and other real estate owned 0.27 % 0.32 % 0.32 % 0.33 % 0.38 %

Past Due Loans

Residential real estate $ 6,440 $ 6,461 $ 5,635 $ 6,497 $ 5,936

Home equity 840 772 651 788 892

Commercial and industrial 273 279 140 — 4

Commercial real estate 670 291 1,314 202 476

Consumer 267 308 221 163 9

DDA overdrafts 342 436 328 336 214

Total Past Due Loans $ 8,832 $ 8,547 $ 8,289 $ 7,986 $ 7,531

Total past due loans as a percent of loans outstanding 0.20 % 0.19 % 0.19 % 0.18 % 0.18 %

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Average Balance Sheets, Yields, and Rates

(Unaudited) ($ in 000s)

Three Months Ended

March 31, 2026 December 31, 2025 March 31, 2025

Average Yield/ Average Yield/ Average Yield/

Balance Interest Rate Balance Interest Rate Balance Interest Rate

Assets:

Loan portfolio (1):

Residential real estate (2)

$ 2,135,883 $ 28,309 5.38 % $ 2,131,861 $ 28,476 5.30 % $ 2,035,999 $ 26,122 5.20 %

Commercial, financial, and agriculture (2)

2,310,646 34,557 6.07 % 2,250,036 35,022 6.18 % 2,195,307 33,876 6.26 %

Installment loans to individuals (2), (3)

49,580 805 6.58 % 53,734 878 6.48 % 61,488 919 6.06 %

Total loans 4,496,109 63,671 5.74 % 4,435,631 64,376 5.76 % 4,292,794 60,917 5.76 %

Securities:

Taxable 1,357,848 13,129 3.92 % 1,396,313 14,656 4.16 % 1,318,675 13,945 4.29 %

Tax-exempt (4)

159,841 1,300 3.30 % 157,476 1,283 3.23 % 134,567 916 2.76 %

Total securities 1,517,689 14,429 3.86 % 1,553,789 15,939 4.07 % 1,453,242 14,861 4.15 %

Deposits in depository institutions 103,353 942 3.70 % 138,253 1,400 4.02 % 164,069 1,802 4.45 %

Total interest-earning assets 6,117,151 79,042 5.24 % 6,127,673 81,715 5.29 % 5,910,105 77,580 5.32 %

Cash and due from banks 96,384 101,928 98,843

Premises and equipment, net 68,933 69,445 70,296

Goodwill and intangible assets 157,616 158,080 159,714

Other assets 279,291 280,293 298,473

Less: Allowance for credit losses (20,276) (19,497) (22,285)

Total Assets $ 6,699,099 $ 6,717,922 $ 6,515,146

Liabilities:

Interest-bearing demand deposits $ 1,326,489 $ 2,774 0.85 % $ 1,346,533 $ 3,217 0.95 % $ 1,335,691 $ 3,297 1.00 %

Savings deposits 1,253,525 2,342 0.76 % 1,239,715 2,370 0.76 % 1,237,116 2,271 0.74 %

Time deposits (2)

1,307,231 9,640 2.99 % 1,303,470 10,224 3.11 % 1,265,163 11,284 3.62 %

Customer repurchase agreements 368,483 2,844 3.13 % 386,270 3,493 3.59 % 333,562 3,169 3.85 %

FHLB long-term advances 150,000 1,552 4.20 % 150,000 1,586 4.19 % 150,000 1,552 4.20 %

Total interest-bearing liabilities 4,405,728 19,152 1.76 % 4,425,988 20,890 1.87 % 4,321,532 21,573 2.02 %

Noninterest-bearing demand deposits 1,380,136 1,393,103 1,336,365

Other liabilities 87,987 89,884 104,301

Stockholders' equity 825,248 808,947 752,948

Total Liabilities and Stockholders' Equity $ 6,699,099 $ 6,717,922 $ 6,515,146

Net Interest Income $ 59,890 $ 60,825 $ 56,007

Net Yield on Earning Assets 3.97 % 3.94 % 3.84 %

(1) For purposes of this table, non-accruing loans have been included in average balances and the following amounts (in thousands) of net loan fees have been included in interest income:

Loan fees, net $ 53 $ 111 $ 201

(2) Included in the above table are the following amounts (in thousands) for the accretion of the fair value adjustments related to the Company's acquisitions:

Residential real estate $ 65 $ 107 $ 22

Commercial, financial, and agriculture 440 476 $ 530

Installment loans to individuals 3 4 $ 4

Time deposits 2 2 $ 7

Total $ 510 $ 589 $ 563

(3) Includes the Company’s consumer and DDA overdrafts loan categories.

(4) Computed on a fully federal tax-equivalent basis assuming a tax rate of approximately 21%.

CITY HOLDING COMPANY AND SUBSIDIARIES

Non-GAAP Reconciliations

(Unaudited) ($ in 000s, except per share data)

Three Months Ended

March 31, December 31, September 30, June 30, March 31,

2026 2025 2025 2025 2025

Net Interest Income/Margin

Net interest income ("GAAP") $ 59,617 $ 60,557 $ 61,107 $ 58,924 $ 55,815

Taxable equivalent adjustment 273 268 187 192 192

Net interest income, fully taxable equivalent

$ 59,890 $ 60,825 $ 61,294 $ 59,116 $ 56,007

Tangible Equity Ratio (period-end)

Equity to assets ("GAAP") 11.75 % 12.04 % 11.98 % 11.58 % 11.41 %

Effect of goodwill and other intangibles, net (2.10) (2.11) (2.14) (2.18) (2.18)

Tangible common equity to tangible assets

9.65 % 9.93 % 9.84 % 9.40 % 9.23 %

Commercial Loan Information (period-end)

Commercial Sector Total % of Total Loans Average DSC Average LTV

Natural Gas Extraction $ 45,646 1.02% 3.60 NA

Natural Gas Distribution 13,789 0.31 3.08 NA

Masonry Contractors 22,488 0.50 1.04 100%

Sheet Metal Work Manufacturing 26,686 0.60 1.40 68%

Beer & Ale Merchant Wholesalers 24,041 0.54 1.59 NA

Gasoline Stations with Convenience Stores 47,605 1.06 2.02 65%

Lessors of Residential Buildings & Dwellings 506,935 11.31 1.56 66%

1-4 Family 194,628 4.34 1.82 63%

Multi-Family 200,859 4.48 1.76 68%

Lessors of Nonresidential Buildings 627,094 13.99 1.33 65%

Office Buildings 160,662 3.58 1.65 62%

Lessors of Mini-Warehouses & Self-Storage Units 55,554 1.24 1.44 64%

Assisted Living Facilities 25,223 0.56 1.58 41%

Hotels & Motels 396,263 8.84 1.75 58%

Average Balance Median Balance

Commercial Loans $ 504 $ 104

Commercial Real Estate Loans 572 132

CITY HOLDING COMPANY AND SUBSIDIARIES

Non-GAAP Reconciliations, continued

(Unaudited) ($ in 000s, except per share data)

Net Growth in DDA Accounts

Year New DDA Accounts Net Number of New Accounts Percentage

2026 7,527 420 0.2 %

2025 31,427 3,548 1.3 %

2024 32,238 4,497 1.8 %

2023* 31,745 4,768 1.9 %

2022 28,442 4,544 1.9 %

2021 32,800 8,860 3.8 %

2020 30,360 6,740 3.0 %

2019 32,040 3,717 1.7 %

* - amounts exclude accounts added in connection with the acquisition of Citizens Commerce Bancshares, Inc. (2023).

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