CITY HOLDING COMPANY CHCO Income Statement

City holding company (CHCO)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest Income
Interest and fees on loans
41,335	41,615	42,944	43,174	42,279	37,973	36,872	34,292	32,918	32,529	32,004	31,115	30,104	30,127	29,444	29,640	28,927	29,032	27,875	28,812	29,388	29,011	29,292	28,621	29,734	31,901	32,983	31,771	29,939	25,588	24,633	23,143	23,068	22,998	23,326	23,352	23,738	24,487	25,991
Interest and dividends on investment securities:
Taxable
5,871	5,924	6,044	5,732	5,689	5,023	4,216	4,117	3,981	3,797	3,666	3,480	3,444	3,277	3,183	2,927	3,005	2,856	2,621	2,641	2,712	2,969	2,864	2,930	3,003	2,923	2,392	2,632	2,750	2,940	3,438	3,943	3,964	4,036	4,639	4,513	4,541	5,019	5,317
Tax-exempt
707	711	722	755	779	729	701	710	703	692	665	686	663	481	419	365	357	334	272	267	264	302	282	277	281	291	299	312	324	341	346	368	387	398	392	445	462	452	461
Interest on deposits in depository institutions
304	298	271	577	186	623	940	61	42	34	31	17	3	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	9	13	15	15	12	11	9	13	13	13	12	1
Total Interest Income
48,217	48,548	49,981	50,238	48,933	44,348	42,729	39,180	37,644	37,052	36,366	35,298	34,214	33,885	33,046	32,932	32,289	32,222	30,768	31,720	32,364	32,282	32,438	31,828	33,018	35,115	35,674	34,724	33,026	28,884	28,432	27,466	27,430	27,441	28,370	28,323	28,754	29,970	31,770
Interest Expense
Interest on deposits
7,238	7,897	8,585	8,417	7,767	6,656	5,497	4,918	4,326	3,941	3,796	3,660	3,429	3,137	3,006	3,011	2,898	2,760	2,686	2,699	2,741	2,792	2,730	2,737	2,753	2,868	3,068	3,195	3,227	3,114	3,312	3,383	3,668	3,965	4,550	5,568	5,711	6,551	6,831
Interest on short-term borrowings
464	762	814	863	1,052	1,061	1,435	459	460	521	349	187	157	189	90	86	107	91	69	85	82	96	86	85	75	93	82	79	71	83	79	77	73	86	90	77	72	86	98
Interest on long-term debt
100	42	45	47	48	200	239	230	211	200	195	189	181	180	172	167	164	159	155	153	150	153	152	151	150	154	154	153	157	163	166	165	167	165	159	158	157	173	163
Total Interest Expense
7,802	8,701	9,444	9,327	8,867	7,917	7,171	5,607	4,997	4,662	4,340	4,036	3,767	3,506	3,268	3,264	3,169	3,010	2,910	2,937	2,973	3,041	2,968	2,973	2,978	3,115	3,304	3,427	3,455	3,360	3,557	3,625	3,908	4,216	4,799	5,803	5,940	6,810	7,092
Net Interest Income
40,415	39,847	40,537	40,911	40,066	36,431	35,558	33,573	32,647	32,390	32,026	31,262	30,447	30,379	29,778	29,668	29,120	29,212	27,858	28,783	29,391	29,241	29,470	28,855	30,040	32,000	32,370	31,297	29,571	25,524	24,875	23,841	23,522	23,225	23,571	22,520	22,814	23,160	24,678
Provision for (recovery of) credit losses
7,972	-75	274	-600	-849	-400	-27	-2,064	181	422	1,393	510	681	1,302	1,432	1,122	539	2,813	451	2,836	888	384	1,872	435	1,363	1,945	1,154	2,011	1,738	1,775	975	1,675	1,950	2,228	0	1,286	1,086	1,847	1,823
Net Interest Income After Provision for (Recovery of) Credit Losses
32,443	39,922	40,263	41,511	40,915	36,831	35,585	35,637	32,466	31,968	30,633	30,752	29,766	29,077	28,346	28,546	28,581	26,399	27,407	25,947	28,503	28,857	27,598	28,420	28,677	30,055	31,216	29,286	27,833	23,749	23,900	22,166	21,572	20,997	23,571	21,234	21,728	21,313	22,855
Non-Interest Income
Gains on sale of investment securities, net
63	0	-40	21	88	0	0	0	0	200	0	0	4,276	0	2,668	845	0	0	0	2,116	14	184	71	818	83	671	0	9	84	-1	730	832	-31	-	627	3,128	-	1,335	62
Unrealized (losses) gains recognized on equity securities still held
-2,402	914	-214	113	75	-1,246	384	492	280	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncredit impairment losses recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-302	-	0	-1,494	0	0	-127	-944
Net investment securities impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	272	606	-	918	1,849	0	0	3,028	1,237
Net investment securities impairment losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	272	304	-	918	355	0	0	2,901	293
Net investment securities gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1	458	528	-31	-	272	3,128	-	-1,566	-231
Insurance commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,238	1,396	1,319	2,025	1,269	1,365	1,358	1,840	1,289	1,439	1,347	1,996	1,433	1,388	1,504	1,621	1,346	1,244
Bank owned life insurance
1,676	856	762	1,132	1,016	734	813	722	821	1,241	774	968	1,229	952	846	768	760	898	929	783	764	778	771	765	756	975	805	799	812	756	738	766	723	728	952	745	758	1,104	813
Sale of VISA shares
17,837	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of insurance division
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	11,084	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
1,536	861	765	1,560	814	736	702	897	627	655	660	895	746	685	846	843	821	813	799	714	958	612	538	549	559	541	734	775	866	898	671	558	533	602	380	575	476	439	437
Total Non-Interest Income
33,347	18,042	16,698	17,825	15,925	14,708	15,753	15,611	14,492	15,568	14,611	14,921	18,507	14,370	16,747	14,581	13,127	14,074	13,706	15,405	24,021	14,669	14,609	15,139	14,305	14,948	14,480	14,252	14,326	14,270	14,079	13,790	13,118	12,130	13,531	16,537	12,662	11,643	13,278
Non-Interest Expense
Salaries and employee benefits
15,851	15,918	15,210	15,767	15,243	14,017	13,576	13,551	13,241	12,749	12,580	12,780	12,948	12,427	12,993	12,790	12,673	11,296	12,179	12,193	12,179	12,489	13,144	12,977	13,139	12,911	12,930	12,640	12,949	11,301	11,295	10,668	10,245	10,320	10,302	10,183	9,912	9,817	9,745
Occupancy related expense
2,488	2,540	2,725	2,598	2,732	2,250	2,323	2,346	2,404	2,196	2,426	2,462	2,473	1,816	2,759	2,708	2,836	2,062	2,575	2,529	2,590	2,449	2,531	2,395	2,615	2,529	2,409	2,500	2,472	2,147	2,126	1,978	1,935	1,929	2,057	1,921	2,106	1,917	1,874
Equipment and software related expense
2,429	2,302	2,248	2,223	2,191	2,038	1,965	1,895	1,831	1,898	1,940	2,004	1,890	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,585	1,567	1,567	-	1,522	1,516	1,511	1,534	1,542	1,533	1,478	1,468	1,437	1,453	1,399	1,235	1,175	1,109	1,086	1,101	1,131	1,140	1,136	1,145	1,174
FDIC insurance expense
0	0	0	347	291	308	315	313	315	317	328	328	375	137	508	512	465	443	456	445	450	448	432	357	410	500	500	341	511	406	405	394	385	300	392	932	952	963	918
Advertising
843	694	861	920	869	530	808	849	787	711	689	781	733	445	667	778	716	264	777	701	704	726	799	925	824	407	712	819	735	596	674	675	644	153	546	628	680	891	1,241
Bankcard expenses
1,435	1,285	1,554	1,534	1,182	1,229	1,134	1,064	1,076	960	1,051	970	943	1,316	1,188	1,016	938	1,667	785	797	870	1,234	877	833	806	851	680	766	727	628	720	694	620	565	559	633	501	481	448
Postage, delivery, and statement mailings
616	588	659	545	624	527	537	515	578	518	517	504	555	492	517	506	565	532	523	507	561	549	557	530	575	522	541	552	605	514	529	488	548	484	551	510	554	599	615
Office supplies
394	392	382	399	386	313	364	329	313	354	377	345	361	320	325	366	353	273	384	347	346	360	405	420	410	408	416	463	441	411	407	396	455	428	492	452	539	497	484
Legal and professional fees
601	706	539	605	521	469	453	475	450	563	504	440	449	210	869	437	366	-195	620	542	567	357	476	612	409	1,467	591	535	435	307	611	421	447	366	567	3,511	469	414	398
Telecommunications
511	563	569	597	726	401	408	441	500	518	494	492	484	495	459	431	428	409	418	463	475	522	510	506	338	581	721	465	445	405	433	387	389	388	371	417	429	413	440
Gains (Losses) on Sales of Other Real Estate
-198	538	59	253	-216	519	-156	112	370	145	107	147	336	244	305	53	288	217	492	335	220	27	31	142	379	-	896	-	-155	146	429	650	121	-28	109	-7	198	234	78
Merger related costs
0	0	0	547	250	13,015	242	0	0	-	-	-	-	-	-	-	-	-	175	108	-	-	0	0	-	71	-150	65	5,540	-	157	4,042	-	-	-	-	-	-	-
Proceeds from Sale of Foreclosed Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-23	-	-	-	-	-	-	-	-	-	-	-
Other expenses
4,102	3,822	3,709	4,437	4,180	2,874	2,759	3,021	3,072	1,970	3,296	2,920	3,053	2,063	3,109	3,119	2,945	1,822	4,471	2,761	2,692	2,340	3,021	3,075	1,993	3,236	2,982	3,383	3,299	2,672	2,885	2,861	2,640	2,677	2,611	2,592	2,382	2,433	2,550
Total Non-Interest Expense
29,468	29,034	28,397	30,772	29,411	38,178	25,040	24,911	24,937	22,899	24,309	24,173	24,600	22,457	25,284	24,283	24,140	21,165	25,377	23,244	23,165	23,035	24,325	24,305	23,376	24,879	24,665	23,959	29,403	21,277	21,846	24,763	19,515	18,683	19,688	22,912	19,858	19,804	19,965
Income Before Income Taxes
36,322	28,930	28,564	28,564	27,429	13,361	26,298	26,337	22,021	24,637	20,935	21,500	23,673	20,990	19,809	18,844	17,568	19,308	15,736	18,108	29,359	20,491	17,882	19,254	19,606	20,124	21,031	19,579	12,756	16,742	16,133	11,193	15,175	14,444	17,414	14,859	14,532	13,152	16,168
Income tax expense
7,322	6,319	6,193	5,813	5,810	2,646	5,606	5,358	4,405	14,973	7,003	6,812	7,647	6,337	6,577	6,303	5,866	5,793	5,129	6,125	11,367	5,961	6,010	6,497	5,803	6,877	7,056	6,573	4,769	5,848	5,526	3,780	5,144	4,787	5,837	5,029	4,918	4,129	5,453
Net Income Available to Common Shareholders
29,000	22,611	22,371	22,751	21,619	10,715	20,692	20,979	17,616	9,664	13,932	14,688	16,026	14,653	13,232	12,541	11,702	13,515	10,607	11,983	17,992	14,530	11,872	12,757	13,803	13,247	13,975	13,006	7,987	10,894	10,607	7,413	10,031	9,657	11,577	9,830	9,614	9,023	10,715
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
-	-	28,678	33,690	-	-	16,367	18,542	9,398	-	14,240	16,742	16,899	-	12,449	15,667	14,445	-	11,939	10,344	18,898	-	11,460	14,462	14,579	-	13,342	8,798	8,078	-	12,719	6,673	12,201	8,450	10,714	9,897	10,207	-	-
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Average common shares outstanding, basic (in shares)
16,080	16,206	16,271	16,368	16,411	15,604	15,340	15,326	15,414	15,449	15,485	15,462	15,252	14,896	14,899	14,889	14,916	15,143	15,178	15,104	15,067	15,062	15,363	15,556	15,631	15,593	15,608	15,582	15,473	29,410	14,751	14,680	14	29,704	15	15,120	15,380	15,496	15,656
Effect of dilutive securities (in shares)
21	22	18	18	18	13	18	19	22	26	20	25	25	17	11	13	11	67	20	23	82	-57	82	150	165	-	182	-	-	-	-	-	-	-	-	-	-	-	-
Effect of dilutive securities:
Employee stock awards and warrants outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	170	154	-	83	79	0	144	0	73	82	-	-
Average common shares outstanding, diluted (in shares)
16,101	16,228	16,289	16,386	16,429	15,617	15,358	15,345	15,436	15,475	15,505	15,487	15,277	14,913	14,910	14,902	14,927	15,210	15,198	15,127	15,149	15,005	15,445	15,706	15,796	15,663	15,790	15,752	15,627	29,576	14,834	14,759	14	29,849	15	15,193	15,462	15,552	15,721
Earnings Per Share [Abstract]
Basic earnings per common share (in dollars per share)
1.79	1.38	1.36	1.38	1.31	0.67	1.34	1.36	1.13	0.62	0.89	0.94	1.04	0.97	0.88	0.83	0.78	0.89	0.69	0.78	1.18	0.96	0.76	0.81	0.87	0.84	0.89	0.83	0.51	0.74	0.71	0.50	0.68	0.64	0.77	0.65	0.62	0.58	0.68
Diluted earnings per common share (in dollars per share)
1.78	1.38	1.36	1.38	1.30	0.68	1.33	1.35	1.13	0.61	0.89	0.94	1.04	0.96	0.88	0.83	0.78	0.89	0.69	0.78	1.17	0.96	0.76	0.80	0.86	0.83	0.88	0.82	0.51	0.73	0.71	0.50	0.67	0.65	0.76	0.64	0.62	0.58	0.68
Dividends declared per common share (in dollars per share)
-	-	-	0.53	-	-	-	0.46	0.46	-	0.44	0.44	0.44	0.43	0.43	0.43	0.43	0.42	0.42	0.42	0.42	0.40	0.40	0.40	0.40	0.37	0.37	0.37	0.37	0.35	0.35	0.35	0.35	0.35	0.34	0.34	0.34	0.34	0.34
Service charges
Revenue from contract with customer
7,723	8,233	8,183	7,778	7,321	7,921	7,598	7,323	6,862	7,355	7,415	7,074	6,730	6,994	6,842	6,564	6,303	6,893	6,907	6,589	5,927	6,750	6,934	6,739	6,160	6,995	7,169	6,897	6,535	7,113	6,751	6,497	6,048	-1,790	9,840	9,855	9,054	9,702	10,448
Bankcard revenue
Revenue from contract with customer
5,115	5,162	5,440	5,522	4,969	4,826	4,677	4,532	4,334	4,317	4,291	4,372	4,140	4,142	4,216	4,190	3,967	3,923	3,895	4,002	4,074	3,744	3,796	3,838	3,685	3,404	3,468	3,450	3,199	3,102	3,110	3,152	3,042	-	-	-	-	-	-
Trust and investment management fee income
Revenue from contract with customer
1,799	2,016	1,802	1,699	1,642	1,737	1,579	1,645	1,568	1,800	1,471	1,612	1,386	1,597	1,329	1,371	1,276	1,547	1,176	1,201	1,200	1,363	1,103	1,111	1,037	1,093	939	964	990	1,113	912	942	807	924	699	730	753	618	567