Document

The Company’s net interest income increased approximately $3.1 million, or 5.6%, from $55.8 million during the first quarter of 2025 to $58.9 million during the second quarter of 2025. The Company’s tax equivalent net interest income increased $3.1 million, or 5.5%, from $56.0 million for the first quarter of 2025 to $59.1 million for the second quarter of 2025. Due to an increase in the yield on loans of 18 basis points, net interest income increased $1.5 million as adjustable rate loans reprice upwards and new loans were added at higher yields. Additionally, net interest income increased by $1.0 million due to an increase in the average balance of investments ($91.7 million), by $0.7 million due to a decrease of three basis points in the cost of interest bearing liabilities, and by $0.4 million due to an increase in the yield of 15 basis points on investments. These increases were partially offset by an increase in the average balance of interest bearing liabilities ($63.2 million) which lowered net interest income by $0.4 million. The Company’s reported net interest margin increased from 3.84% for the first quarter of 2025 to 3.95% for the second quarter of 2025.

As a result of the Company’s quarterly analysis of the adequacy of the allowance for credit losses (“ACL”), the Company recorded a recovery of credit losses of $2.0 million in the second quarter of 2025, compared to a provision for credit losses of $0.5 million for the comparable period in 2024 and no provision for credit losses for the first quarter of 2025. The recovery of credit losses in the second quarter was primarily due to an upgrade of a specific credit that was downgraded in the third quarter of 2023, but

Exclusive of these items, non-interest income increased $0.8 million, or 4.3%, from $18.6 million for the second quarter of 2024 to $19.4 million for the second quarter of 2025. This increase was attributable to an increase of $0.3 million in service fees, an increase of $0.3 million in wealth and investment management fee income, and an increase of $0.2 million in bank owned life insurance. As compared to the six months ended June 30, 2024, service fee income increased $0.4 million and bankcard revenues were flat for the six months ended June 30, 2025.

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 June 30, 2025, City National had the capacity to borrow an additional $1.6 billion from these existing borrowing facilities. In addition, approximately $669 million of City National’s investment securities were pledged to collateralize customer repurchase agreements and various deposit accounts, leaving approximately $924 million of City National’s investment securities unpledged at June 30, 2025.

The Company continues to be strongly capitalized with tangible equity of $605 million at June 30, 2025. The Company’s tangible equity ratio increased from 9.1% at December 31, 2024 to 9.4% at June 30, 2025. At June 30, 2025, City National’s Leverage Ratio was 9.6%, its Common Equity Tier I ratio was 15.1%, its Tier I Capital ratio was 15.1%, and its Total Risk-Based Capital ratio was 15.6%. These regulatory capital ratios are significantly above levels required to be considered “well capitalized,” which is the highest possible regulatory designation.

On May 28, 2025, the Board of Directors of the Company approved a quarterly cash dividend of $0.79 per share payable July 31, 2025 to shareholders of record as of July 15, 2025. During the quarter ended June 30, 2025, the Company repurchased 175,000 common shares at a weighted average price of $111.09 per share as part of a one million share repurchase plan authorized by the Board of Directors in January 2024. As of June 30, 2025, the Company could repurchase 566,000 additional shares under the current program. At June 30, 2025, City Holding Company had significant resources available to repurchase shares with a cash balance of $66 million and dividends available from City National of $65 million through the six months ended June 30, 2025. The parent company’s annual expenditures are approximately $45 million (based on the Company’s operating expenses, contractual obligations and current quarterly dividend of $0.79 per share).

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, 2024 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; (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, including changes in deposit insurance premiums; (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 June 30, 2025 Form 10-Q. The Company will continue to evaluate the impact of any subsequent events on the preliminary June 30, 2025 results and will adjust the amounts if necessary.


	Three Months Ended										Six Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,		June 30,		June 30,
	2025		2025		2024		2024		2024		2025		2024

Earnings
Net Interest Income (fully taxable equivalent)	$	59,116	$	56,007	$	55,790	$	55,823	$	54,847	$	115,121	$	109,495
Net Income available to common shareholders	33,387		30,342		28,654		29,809		29,115		63,729		58,638

Per Share Data
Earnings per share available to common shareholders:
Basic	$	2.29	$	2.06	$	1.94	$	2.02	$	1.96	$	4.35	$	3.95
Diluted	2.29		2.06		1.94		2.02		1.96		4.35		3.94
Weighted average number of shares (in thousands):
Basic	14,466		14,616		14,634		14,633		14,695		14,541		14,721
Diluted	14,471		14,631		14,655		14,654		14,710		14,551		14,740
Period-end number of shares (in thousands)	14,495		14,650		14,705		14,702		14,701		14,495		14,701
Cash dividends declared	$	0.79	$	0.79	$	0.79	$	0.79	$	0.72	$	1.58	$	1.43
Book value per share (period-end)	52.72		51.63		49.69		50.42		46.71		52.72		46.71
Tangible book value per share (period-end)	41.76		40.74		38.80		39.49		35.75		41.76		35.75
Market data:
High closing price	$	123.42	$	120.39	$	134.35	$	123.29	$	106.43	$	123.42	$	111.40
Low closing price	108.93		114.48		113.37		104.53		98.35		108.93		98.35
Period-end closing price	122.42		117.47		118.48		117.39		106.25		122.42		106.25
Average daily volume (in thousands)	76		63		53		56		57		69		60
Treasury share activity:


Treasury shares repurchased (in thousands)	175			81			—			—			142			255			179
Average treasury share repurchase price	$	111.09		$	117.42		$	—		$	—		$	100.24		$	113.09		$	100.24

Key Ratios (percent)
Return on average assets	2.03		%	1.89		%	1.75		%	1.87		%	1.85		%	1.96		%	1.89		%
Return on average tangible equity	22.7		%	20.7		%	19.4		%	20.9		%	22.2		%	21.7		%	22.4		%
Yield on interest earning assets	5.38		%	5.32		%	5.31		%	5.43		%	5.38		%	5.35		%	5.36		%
Cost of interest bearing liabilities	1.95		%	2.02		%	2.14		%	2.13		%	2.06		%	1.99		%	1.98		%
Net Interest Margin	3.95		%	3.84		%	3.75		%	3.87		%	3.87		%	3.90		%	3.91		%
Non-interest income as a percent of total revenue	24.7		%	25.1		%	25.8		%	26.5		%	25.3		%	24.8		%	25.3		%
Efficiency Ratio	49.0		%	49.6		%	48.4		%	48.8		%	49.3		%	49.3		%	48.9		%
Price/Earnings Ratio (a)	13.38			14.26			15.27			14.54			13.53			14.09			13.46

Capital (period-end)
Average Shareholders' Equity to Average Assets	11.37		%	11.56		%	11.46		%	11.45		%	10.90		%
Tangible equity to tangible assets	9.40		%	9.23		%	9.06		%	9.26		%	8.50		%
Consolidated City Holding Company risk based capital ratios (b):
CET I	16.78		%	16.84		%	16.51		%	16.64		%	16.10		%
Tier I	16.78		%	16.84		%	16.51		%	16.64		%	16.10		%
Total	17.26		%	17.36		%	17.02		%	17.17		%	16.64		%
Leverage	10.70		%	10.76		%	10.62		%	10.59		%	10.30		%
City National Bank risk based capital ratios (b):
CET I	15.10		%	14.38		%	13.55		%	16.00		%	15.17		%
Tier I	15.10		%	14.38		%	13.55		%	16.00		%	15.17		%
Total	15.58		%	14.90		%	14.05		%	16.52		%	15.72		%
Leverage	9.63		%	9.19		%	8.72		%	10.17		%	9.68		%

Other (period-end)
Branches	96			97			97			97			97
FTE	934			942			941			940			948

Assets per FTE (in thousands)	$	7,064		$	7,028		$	6,864		$	6,845		$	6,689
Deposits per FTE (in thousands)	5,619			5,580			5,467			5,428			5,345

(a) The price/earnings ratio is computed based on annualized quarterly earnings.
(b) June 30, 2025 risk-based capital ratios are estimated.


	Three Months Ended										Six Months Ended
	June 30,		March 31,		December 31,		September 30,		June 30,		June 30,		June 30,
	2025		2025		2024		2024		2024		2025		2024
Interest Income
Interest and fees on loans	$	62,588	$	60,917	$	61,701	$	61,407	$	59,285	$	123,505	$	118,413
Interest on investment securities:
Taxable	15,347		13,945		13,742		14,403		13,947		29,292		25,987
Tax-exempt	712		724		789		824		838		1,436		1,668
Interest on deposits in depository institutions	1,644		1,802		2,588		1,417		1,920		3,446		3,490
Total Interest Income	80,291		77,388		78,820		78,051		75,990		157,679		149,558

Interest Expense
Interest on deposits	16,492		16,852		17,463		17,072		15,897		33,344		29,994
Interest on customer repurchase agreements	3,307		3,169		4,191		3,788		3,900		6,476		7,521
Interest on FHLB long-term advances	1,568		1,552		1,586		1,586		1,568		3,120		2,991
Total Interest Expense	21,367		21,573		23,240		22,446		21,365		42,940		40,506
Net Interest Income	58,924		55,815		55,580		55,605		54,625		114,739		109,052
(Recovery of) Provision for credit losses	(2,000)		—		300		1,200		500		(2,000)		320
Net Interest Income After (Recovery of) Provision for Credit Losses	60,924		55,815		55,280		54,405		54,125		116,739		108,732

Non-Interest Income
Net gains (losses) on sale of investment securities	150		—		(2,812)		(12)		—		150		(1)
Unrealized (losses) gains recognized on securities still held	(263)		(5)		(390)		353		364		(268)		212
Service charges	7,264		7,151		7,679		7,531		6,980		14,415		14,015
Bankcard revenue	7,233		6,807		7,109		7,346		7,245		14,040		14,045
Wealth and investment management fee income	3,016		2,902		2,947		2,923		2,762		5,918		5,385
Bank owned life insurance	942		1,153		855		1,435		775		2,095		1,702
Other income	894		729		739		772		785		1,623		1,501
Total Non-Interest Income	19,236		18,737		16,127		20,348		18,911		37,973		36,859

Non-Interest Expense
Salaries and employee benefits	19,995		19,194		19,489		19,245		18,751		39,189		37,629
Occupancy related expense	2,316		2,582		2,308		2,387		2,468		4,898		4,921
Equipment and software related expense	3,554		3,470		3,683		3,431		3,130		7,024		6,059
Bankcard expenses	2,203		2,215		1,909		2,271		2,290		4,418		4,329
Other tax-related matters	2,327		2,262		1,873		1,756		2,029		4,589		4,048
Advertising	964		873		901		1,081		972		1,837		1,839
FDIC insurance expense	756		776		729		734		718		1,532		1,429
Legal and professional fees	651		582		629		500		551		1,233		1,033


Repossessed asset losses (gains), net of expenses	292		(66)		(10)		21		6		226		235
Other expenses	5,941		5,747		5,414		6,212		5,857		11,688		11,150
Total Non-Interest Expense	38,999		37,635		36,925		37,638		36,772		76,634		72,672
Income Before Income Taxes	41,161		36,917		34,482		37,115		36,264		78,078		72,919
Income tax expense	7,774		6,575		5,828		7,306		7,149		14,349		14,281
Net Income Available to Common Shareholders	$	33,387	$	30,342	$	28,654	$	29,809	$	29,115	$	63,729	$	58,638

Distributed earnings allocated to common shareholders	$	11,346	$	11,483	$	11,511	$	11,506	$	10,418	$	22,691	$	20,835
Undistributed earnings allocated to common shareholders	21,735		18,624		16,881		18,025		18,439		40,497		37,284
Net earnings allocated to common shareholders	$	33,081	$	30,107	$	28,392	$	29,531	$	28,857	$	63,188	$	58,119

Average common shares outstanding	14,466		14,616		14,634		14,633		14,695		14,541		14,721
Shares for diluted earnings per share	14,471		14,631		14,655		14,654		14,710		14,551		14,740

Basic earnings per common share	$	2.29	$	2.06	$	1.94	$	2.02	$	1.96	$	4.35	$	3.95
Diluted earnings per common share	$	2.29	$	2.06	$	1.94	$	2.02	$	1.96	$	4.35	$	3.94


	(Unaudited)		(Unaudited)				(Unaudited)		(Unaudited)
	June 30,		March 31,		December 31,		September 30,		June 30,
	2025		2025		2024		2024		2024
Assets
Cash and due from banks	$	145,876	$	135,029	$	117,580	$	161,333	$	141,168
Interest-bearing deposits in depository institutions	26,248		249,676		107,809		132,616		76,818
Cash and cash equivalents	172,124		384,705		225,389		293,949		217,986

Investment securities available-for-sale, at fair value	1,562,423		1,416,808		1,421,306		1,462,795		1,456,685
Other securities	29,768		29,809		29,803		30,859		31,237
Total investment securities	1,592,191		1,446,617		1,451,109		1,493,654		1,487,922

Gross loans	4,339,196		4,285,824		4,274,776		4,157,830		4,112,873
Allowance for credit losses	(19,724)		(21,669)		(21,922)		(21,832)		(22,688)
Net loans	4,319,472		4,264,155		4,252,854		4,135,998		4,090,185

Bank owned life insurance	122,587		121,738		120,887		120,061		119,650
Premises and equipment, net	69,038		69,696		70,539		70,651		71,041
Accrued interest receivable	21,654		21,603		20,650		21,785		21,826
Net deferred tax assets	33,994		35,184		41,704		33,497		43,602
Intangible assets	158,957		159,501		160,044		160,640		161,236
Other assets	108,120		119,757		116,283		104,079		127,947
Total Assets	$	6,598,137	$	6,622,956	$	6,459,459	$	6,434,314	$	6,341,395

Liabilities
Deposits:
Noninterest-bearing	$	1,383,247	$	1,365,870	$	1,344,449	$	1,339,538	$	1,354,660
Interest-bearing:
Demand deposits	1,333,858		1,355,806		1,335,220		1,351,239		1,333,169
Savings deposits	1,244,179		1,260,903		1,215,358		1,208,828		1,233,834
Time deposits	1,287,536		1,275,890		1,249,123		1,203,046		1,145,617
Total deposits	5,248,820		5,258,469		5,144,150		5,102,651		5,067,280

Customer repurchase agreements	339,834		347,729		325,655		339,153		322,668
FHLB long-term advances	150,000		150,000		150,000		150,000		150,000
Other liabilities	95,268		110,422		108,990		101,211		114,707
Total Liabilities	$	5,833,922	$	5,866,620	$	5,728,795	$	5,693,015	$	5,654,655


Stockholders' Equity
Preferred stock	—		—		—		—		—
Common stock	47,619		47,619		47,619		47,619		47,619
Capital surplus	172,853		174,300		176,506		175,602		174,834
Retained earnings	893,422		871,406		852,757		835,778		817,549
Treasury stock	(254,181)		(237,038)		(230,499)		(230,836)		(230,944)
Accumulated other comprehensive loss:
Unrealized loss on securities available-for-sale	(94,056)		(98,509)		(114,277)		(84,283)		(119,737)
Underfunded pension liability	(1,442)		(1,442)		(1,442)		(2,581)		(2,581)
Total Accumulated Other Comprehensive Loss	(95,498)		(99,951)		(115,719)		(86,864)		(122,318)
Total Stockholders' Equity	764,215		756,336		730,664		741,299		686,740
Total Liabilities and Stockholders' Equity	$	6,598,137	$	6,622,956	$	6,459,459	$	6,434,314	$	6,341,395

Regulatory Capital
Total CET 1 capital	$	702,729	$	698,721	$	688,707	$	669,862	$	650,108
Total tier 1 capital	702,729		698,721		688,707		669,862		650,108
Total risk-based capital	722,477		720,400		709,820		690,857		671,959
Total risk-weighted assets	4,186,844		4,150,062		4,171,271		4,024,686		4,037,614


	June 30,		March 31,		December 31,		September 30,		June 30,
	2025		2025		2024		2024		2024

Commercial and industrial	$	409,317	$	423,265	$	419,838	$	424,414	$	408,312

1-4 Family	199,400		195,641		197,258		194,670		195,992
Hotels	380,496		372,758		389,660		383,232		370,954
Multi-family	221,970		215,546		240,943		193,875		190,390
Non Residential Non-Owner Occupied	740,104		742,323		707,265		665,210		668,330
Non Residential Owner Occupied	236,935		232,732		233,497		236,826		235,993
Commercial real estate (1)	1,778,905		1,759,000		1,768,623		1,673,813		1,661,659

Residential real estate (2)	1,884,449		1,841,851		1,823,610		1,806,578		1,797,260
Home equity	207,906		203,253		199,192		190,149		179,607
Consumer	52,795		54,670		57,816		58,710		62,352
DDA overdrafts	5,824		3,785		5,697		4,166		3,683
Gross Loans	$	4,339,196	$	4,285,824	$	4,274,776	$	4,157,830	$	4,112,873

Construction loans included in:
(1) - Commercial real estate loans	$	28,781	$	25,683	$	24,681	$	2,736	$	2,233
(2) - Residential real estate loans	6,416		5,276		7,547		7,604		9,766


	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,			June 30,
	2025			2025			2024			2024			2024			2025			2024
Allowance for Loan Losses
Balance at beginning of period	$	21,669		$	21,922		$	21,832		$	22,688		$	22,310		$	21,922		$	22,745

Charge-offs:
Commercial and industrial	—			(30)			(99)			(206)			(61)			(30)			(367)
Commercial real estate	—			(220)			—			(1,909)			(40)			(220)			(71)
Residential real estate	(49)			—			(75)			(43)			(286)			(49)			(305)
Home equity	(97)			(1)			(23)			(57)			(121)			(98)			(148)
Consumer	(36)			(129)			(23)			(24)			(20)			(165)			(135)
DDA overdrafts	(327)			(379)			(405)			(436)			(373)			(706)			(729)
Total charge-offs	(509)			(759)			(625)			(2,675)			(901)			(1,268)			(1,755)

Recoveries:
Commercial and industrial	15			37			1			24			38			52			63
Commercial real estate	51			30			12			193			165			81			176
Residential real estate	49			1			3			27			179			50			228
Home equity	96			4			17			13			38			100			47
Consumer	25			9			15			25			24			34			122
DDA overdrafts	328			425			367			337			335			753			742
Total recoveries	564			506			415			619			779			1,070			1,378

Net recoveries (charge-offs)	55			(253)			(210)			(2,056)			(122)			(198)			(377)
(Recovery of) Provision for credit losses	(2,000)			—			300			1,200			500			(2,000)			320
Balance at end of period	$	19,724		$	21,669		$	21,922		$	21,832		$	22,688		$	19,724		$	22,688

Loans outstanding	$	4,339,196		$	4,285,824		$	4,274,776		$	4,157,830		$	4,112,873
Allowance as a percent of loans outstanding	0.45		%	0.51		%	0.51		%	0.53		%	0.55		%
Allowance as a percent of non-performing loans	140.3		%	135.5		%	154.3		%	141.1		%	236.8		%

Average loans outstanding	$	4,310,222		$	4,292,794		$	4,215,962		$	4,133,520		$	4,092,464		$	4,301,556		$	4,092,497
Net (recoveries) charge-offs (annualized) as a percent of average loans outstanding	(0.01)		%	0.02		%	0.02		%	0.20		%	0.01		%	0.01		%	0.02		%


	June 30,			March 31,			December 31,			September 30,			June 30,
	2025			2025			2024			2024			2024
Nonaccrual Loans
Residential real estate	$	3,602		$	3,226		$	2,823		$	2,596		$	3,214
Home equity	283			269			212			109			63
Commercial and industrial	600			2,781			3,161			3,631			3,135
Commercial real estate	9,515			9,692			7,833			9,031			3,118
Consumer	—			—			—			—			—
Total nonaccrual loans	14,000			15,968			14,029			15,367			9,530
Accruing loans past due 90 days or more	63			26			182			102			50
Total non-performing loans	14,063			15,994			14,211			15,469			9,580
Other real estate owned	185			457			754			729			629
Total Non-Performing Assets	$	14,248		$	16,451		$	14,965		$	16,198		$	10,209

Non-performing assets as a percent of loans and other real estate owned	0.33		%	0.38		%	0.35		%	0.39		%	0.25		%

Past Due Loans
Residential real estate	$	6,497		$	5,936		$	7,012		$	8,205		$	7,991
Home equity	788			892			902			1,571			819
Commercial and industrial	—			4			—			57			1,087
Commercial real estate	202			476			240			992			565
Consumer	163			9			273			161			97
DDA overdrafts	336			214			391			333			327
Total Past Due Loans	$	7,986		$	7,531		$	8,818		$	11,319		$	10,886

Total past due loans as a percent of loans outstanding	0.18		%	0.18		%	0.21		%	0.27		%	0.26		%


	Three Months Ended
	June 30, 2025						March 31, 2025						June 30, 2024
	Average				Yield/		Average				Yield/		Average				Yield/
	Balance		Interest		Rate		Balance		Interest		Rate		Balance		Interest		Rate
Assets:
Loan portfolio (1):
Residential real estate (2)	$	2,068,082	$	27,015	5.24	%	$	2,035,999	$	26,122	5.20	%	$	1,969,769	$	24,763	5.06	%
Commercial, financial, and agriculture (2)	2,184,357		34,640		6.36	%	2,195,307		33,876		6.26	%	2,055,263		33,524		6.56	%
Installment loans to individuals (2), (3)	57,783		935		6.49	%	61,488		919		6.06	%	67,432		998		5.95	%
Total loans	4,310,222		62,590		5.82	%	4,292,794		60,917		5.76	%	4,092,464		59,285		5.83	%
Securities:
Taxable	1,416,770		15,347		4.34	%	1,318,675		13,945		4.29	%	1,302,197		13,947		4.31	%
Tax-exempt (4)	128,165		902		2.82	%	134,567		916		2.76	%	158,894		1,060		2.68	%
Total securities	1,544,935		16,249		4.22	%	1,453,242		14,861		4.15	%	1,461,091		15,007		4.13	%
Deposits in depository institutions	147,662		1,644		4.47	%	164,069		1,802		4.45	%	139,852		1,920		5.52	%
Total interest-earning assets	6,002,819		80,483		5.38	%	5,910,105		77,580		5.32	%	5,693,407		76,212		5.38	%
Cash and due from banks	94,199						98,843						103,004
Premises and equipment, net	69,523						70,296						71,491
Goodwill and intangible assets	159,164						159,714						161,607
Other assets	291,943						298,473						316,440
Less: Allowance for loan losses	(22,127)						(22,285)						(22,694)
Total Assets	$	6,595,521					$	6,515,146					$	6,323,255

Liabilities:
Interest-bearing demand deposits	$	1,343,532	$	3,332	0.99	%	$	1,335,691	$	3,297	1.00	%	$	1,320,402	$	3,845	1.17	%
Savings deposits	1,247,766		2,302		0.74	%	1,237,116		2,271		0.74	%	1,248,330		2,232		0.72	%
Time deposits (2)	1,283,806		10,858		3.39	%	1,265,163		11,284		3.62	%	1,125,036		9,820		3.51	%
Customer repurchase agreements	359,626		3,307		3.69	%	333,562		3,169		3.85	%	336,434		3,900		4.66	%
FHLB long-term advances	150,000		1,568		4.19	%	150,000		1,552		4.20	%	150,000		1,568		4.20	%
Total interest-bearing liabilities	4,384,730		21,367		1.95	%	4,321,532		21,573		2.02	%	4,180,202		21,365		2.06	%
Noninterest-bearing demand deposits	1,363,481						1,336,365						1,341,642
Other liabilities	97,480						104,301						112,301
Stockholders' equity	749,830						752,948						689,110
Total Liabilities and Stockholders' Equity	$	6,595,521					$	6,515,146					$	6,323,255
Net Interest Income			$	59,116					$	56,007					$	54,847
Net Yield on Earning Assets					3.95	%					3.84	%					3.87	%

(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			$	6					$	201					$	60


(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	$	57	$	22	$	72
Commercial, financial, and agriculture	676		530		$	683
Installment loans to individuals	—		4		$	6
Time deposits	3		7		$	21
Total	$	736	$	563	$	782

(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%.


	Six Months Ended
	June 30, 2025						June 30, 2024
	Average				Yield/		Average				Yield/
	Balance		Interest		Rate		Balance		Interest		Rate
Assets:
Loan portfolio (1):
Residential real estate (2)	$	2,051,918	$	53,137	5.22	%	$	1,962,337	$	48,912	5.01	%
Commercial, financial, and agriculture (2)	2,189,980		68,516		6.31	%	2,062,016		67,504		6.58	%
Installment loans to individuals (2), (3)	59,658		1,853		6.26	%	68,144		1,997		5.89	%

Total loans	4,301,556		123,506		5.79	%	4,092,497		118,413		5.82	%
Securities:
Taxable	1,367,994		29,292		4.32	%	1,251,253		25,987		4.18	%
Tax-exempt (4)	131,348		1,817		2.79	%	159,871		2,111		2.66	%
Total securities	1,499,342		31,109		4.18	%	1,411,124		28,098		4.00	%
Deposits in depository institutions	155,820		3,446		4.46	%	127,902		3,490		5.49	%
Total interest-earning assets	5,956,718		158,061		5.35	%	5,631,523		150,001		5.36	%
Cash and due from banks	96,508						100,985
Premises and equipment, net	69,907						71,723
Goodwill and intangible assets	159,438						161,932
Other assets	295,190						311,358
Less: Allowance for loan losses	(22,206)						(22,918)
Total Assets	$	6,555,555					$	6,254,603

Liabilities:
Interest-bearing demand deposits	$	1,339,633	$	6,629	1.00	%	$	1,302,135	$	7,284	1.12	%
Savings deposits	1,242,470		4,573		0.74	%	1,251,292		4,505		0.72	%
Time deposits (2)	1,274,536		22,142		3.50	%	1,099,059		18,205		3.33	%
Customer repurchase agreements	346,666		6,476		3.77	%	325,028		7,521		4.65	%
FHLB long-term advances	150,000		3,120		4.19	%	143,407		2,991		4.19	%
Total interest-bearing liabilities	4,353,305		42,940		1.99	%	4,120,921		40,506		1.98	%
Noninterest-bearing demand deposits	1,349,998						1,332,091
Other liabilities	100,872						113,945
Stockholders' equity	751,380						687,646
Total Liabilities and Stockholders' Equity	$	6,555,555					$	6,254,603
Net Interest Income			$	115,121					$	109,495
Net Yield on Earning Assets					3.90	%					3.91	%

(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			$	207					$	193


	Three Months Ended															Six Months Ended
	June 30,			March 31,			December 31,			September 30,			June 30,			June 30,		June 30,
	2025			2025			2024			2024			2024			2025		2024
Net Interest Income/Margin
Net interest income ("GAAP")	$	58,924		$	55,815		$	55,580		$	55,605		$	54,625		$	114,739	$	109,052
Taxable equivalent adjustment	192			192			210			218			222			382		443
Net interest income, fully taxable equivalent	$	59,116		$	56,007		$	55,790		$	55,823		$	54,847		$	115,121	$	109,495

Tangible Equity Ratio (period-end)
Equity to assets ("GAAP")	11.58		%	11.41		%	11.31		%	11.52		%	10.83		%
Effect of goodwill and other intangibles, net	(2.18)			(2.18)			(2.25)			(2.26)			(2.33)
Tangible common equity to tangible assets	9.40		%	9.23		%	9.06		%	9.26		%	8.50		%


Commercial Loan Information (period-end)

Commercial Sector	Total		% of Total Loans		Average DSC	Average LTV

Natural Gas Extraction	$	38,034	0.88%		2.86	NA
Natural Gas Distribution	3,022		0.07		2.55	NA
Masonry Contractors	26,841		0.62		1.01	100%
Sheet Metal Work Manufacturing	25,095		0.58		1.40	68%
Beer & Ale Merchant Wholesalers	25,769		0.60		1.53	NA
Gasoline Stations with Convenience Stores	35,248		0.82		5.07	65%
Lessors of Residential Buildings & Dwellings	480,270		11.11		1.64	67%
1-4 Family	186,532		4.32		2.96	71%
Multi-Family	200,388		4.64		1.80	68%
Lessors of Nonresidential Buildings	619,128		14.33		1.42	65%
Office Buildings	172,851		4.00		1.65	62%
Lessors of Mini-Warehouses & Self-Storage Units	55,236		1.28		1.23	60%
Assisted Living Facilities	26,080		0.60		1.46	52%
Hotels & Motels	380,882		8.81		1.77	67%

	Average Balance		Median Balance
Commercial Loans	$	479	$	98
Commercial Real Estate Loans	550		127


CITY HOLDING COMPANY AND SUBSIDIARIES
Non-GAAP Reconciliations, continued
(Unaudited) ($ in 000s, except per share data)

Estimated Uninsured Deposits by Deposit Type
	June 30, 2025		March 31, 2025
Noninterest-Bearing Demand Deposits	16	%	15	%

Interest-Bearing Deposits
Demand Deposits	14	%	15	%
Savings Deposits	12	%	13	%
Time Deposits	17	%	17	%
Total Deposits	15	%	15	%

The amounts listed above represent management's best estimate as of the respective period shown of uninsured deposits (either with balances above $250,000 or not collateralized by investment securities).


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

2025	15,926	2,502	1.0	%
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	%
2018*	30,400	4,310	2.2	%


* - amounts exclude accounts added in connection with the acquisitions of Poage Bankshares, Inc. (2018), Farmers Deposit Bancorp, Inc.(2018) and Citizens Commerce Bancshares, Inc. (2023).