Document

NEWS RELEASE

For Immediate Release

October 22, 2025

For Further Information Contact:

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

(304) 769-1169

City Holding Company Announces Record Quarterly Results

Charleston, West Virginia – City Holding Company (“Company” or “City”) (NASDAQ:CHCO), a $6.7 billion bank holding company headquartered in Charleston, West Virginia, today announced record quarterly net income of $35.2 million and diluted earnings of $2.41 per share for the quarter ended September 30, 2025, driven by strong loan growth, higher net interest income, and continued credit quality stability. In the third quarter of 2025, the Company achieved a return on assets of 2.11% and a return on tangible equity of 22.5%.

Net Interest Income

The Company’s net interest income increased approximately $2.2 million, or 3.7%, from $58.9 million during the second quarter of 2025 to $61.1 million during the third quarter of 2025. The Company’s tax equivalent net interest income increased $2.2 million, or 3.7%, from $59.1 million for the second quarter of 2025 to $61.3 million for the third quarter of 2025. This increase was primarily due to an increase in the yield on loans (8 basis points) and an increase in average loans outstanding ($68.1 million), which increased net interest increased income by $1.0 million and $1.0 million, respectively. In addition, net interest income increased $0.4 million due to an increase in the yield on investments (9 basis points), and by $0.3 million due to a decrease in the cost of interest bearing liabilities (3 basis points). These increases were partially offset by a decrease in the average balance of deposits in depository institutions ($72.7 million) which decreased net interest income by $0.8 million. The Company’s reported net interest margin increased from 3.95% for the second quarter of 2025 to 4.04% for the third quarter of 2025.

Credit Quality

The Company’s ratio of nonperforming assets to total loans and other real estate owned remained stable at 0.32%, or $14.3 million, at September 30, 2025 compared to 0.33%, or $14.2 million, at June 30, 2025. Total past due loans increased slightly from $8.0 million, or 0.18% of total loans outstanding, at June 30, 2025, to $8.3 million, or 0.19% of total loans outstanding at September 30, 2025.

As a result of the Company’s quarterly analysis of the adequacy of the allowance for credit losses, the Company recorded a recovery of credit losses of $0.5 million in the third quarter of 2025, compared to a provision for credit losses of $1.2 million for the comparable period in 2024, and a recovery of credit losses of $2.0 million for the second quarter of 2025. The recovery of credit losses in the third quarter was primarily related to net recoveries of $0.4 million for the quarter ended September 30, 2025.

Non-interest Income

Non-interest income was $20.2 million during the quarter ended September 30, 2025, as compared to $20.3 million during the quarter ended September 30, 2024. During the third quarter of 2025, the Company reported $0.1 million of unrealized fair value gains on the Company’s equity securities, as compared to $0.4 million of unrealized fair value gains on the Company’s equity securities during the third quarter of 2024.

Exclusive of these items, non-interest income remained consistent at $20.0 million for both the third quarter of 2024 and the third quarter of 2025. Increases of $0.3 million (4.3%) in service fees and $0.2 million (5.2%) in wealth and investment management fee income were essentially offset by lower bank owned life insurance (due to death benefit proceeds in the third quarter of 2024) of $0.5 million.

Non-interest Expenses

Non-interest expenses increased $0.3 million, or 0.7%, from $37.6 million in the third quarter of 2024 to $37.9 million in the third quarter of 2025. This increase was largely due to an increase in salaries and employee benefits of $0.5 million and an increase of $0.3 million in other tax-related matters. These increases were partially offset by lower advertising $0.4 million and other expenses $0.3 million.

Balance Sheet Trends

Gross loans increased $73.6 million (1.7%) from June 30, 2025 to $4.41 billion at September 30, 2025. Residential real estate loans increased $25.3 million (1.3%), commercial real estate loans increased $24.1 million (1.4%), commercial and industrial loans increased $17.3 million (4.2%), and home equity loans increased $10.8 million (5.2%) during the quarter ended September 30, 2025.

Period-end deposit balances increased $8.8 million, or 0.2%, from June 30, 2025, to September 30, 2025. Total average depository balances remained flat from the quarter ended June 30, 2025 to the quarter ended September 30, 2025. Increases in average time deposit balances of $11.6 million and average noninterest-bearing demand deposit balances of $11.0 million were essentially offset by decreases in average interest bearing demand deposits of $14.3 million and average savings deposit balances of $6.3 million.

Income Tax Expense The Company’s effective income tax rate for the third quarter of 2025 was 19.7%, compared to 19.0% for the year ended December 31, 2024 and 19.7% for the quarter ended September 30, 2024.

Capitalization and Liquidity

The Company’s gross loan to deposit ratio was 83.9% and its gross loan to asset ratio was 66.2% at September 30, 2025. The Company maintained investment securities totaling 23.1% of assets as of the same date. The Company’s deposit mix is weighted heavily toward checking and saving accounts, which funded 58.7% of assets at September 30, 2025. Time deposits funded 19.5% of assets at September 30, 2025, 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 September 30, 2025, City National had the capacity to borrow an additional $1.7 billion from these

existing borrowing facilities. In addition, approximately $725 million of City National’s investment securities were pledged to collateralize customer repurchase agreements and various deposit accounts, leaving approximately $815 million of City National’s investment securities unpledged at September 30, 2025.

The Company continues to be strongly capitalized with tangible equity of $641 million at September 30, 2025. The Company’s tangible equity ratio increased from 9.1% at December 31, 2024 to 9.8% at September 30, 2025. At September 30, 2025, City National’s Leverage Ratio was 10.2%, its Common Equity Tier I ratio was 15.8%, its Tier I Capital ratio was 15.8%, and its Total Risk-Based Capital ratio was 16.3%. These regulatory capital ratios are significantly above levels required to be considered “well capitalized,” which is the highest possible regulatory designation.

On September 24, 2025, the Board of Directors of the Company approved a quarterly cash dividend of $0.87 per share, payable October 31, 2025 to shareholders of record as of October 15, 2025. This represents a 10.0% increase from the $0.79 per share dividend paid on July 31, 2025. At September 30, 2025, City Holding Company had significant resources available to repurchase shares with a cash balance of $54 million and dividends available from City National of $100 million through the nine months ended September 30, 2025. The parent company’s annual expenditures are approximately $50 million (based on the Company’s operating expenses, contractual obligations and current quarterly dividend of $0.87 per share)

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, 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 September 30, 2025 Form 10-Q. The Company will continue to evaluate the impact of any subsequent events on the preliminary September 30, 2025 results and will adjust the amounts if necessary.

CITY HOLDING COMPANY AND SUBSIDIARIES

Financial Highlights

(Unaudited)


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

Earnings
Net Interest Income (fully taxable equivalent)	$	61,294		$	59,116		$	56,007		$	55,790		$	55,823		$	176,416		$	165,318
Net Income available to common shareholders	35,188			33,387			30,342			28,654			29,809			98,917			88,447

Per Share Data
Earnings per share available to common shareholders:
Basic	$	2.41		$	2.29		$	2.06		$	1.94		$	2.02		$	6.76		$	5.96
Diluted	2.41			2.29			2.06			1.94			2.02			6.75			5.96
Weighted average number of shares (in thousands):
Basic	14,457			14,466			14,616			14,634			14,633			14,512			14,691
Diluted	14,463			14,471			14,631			14,655			14,654			14,521			14,711
Period-end number of shares (in thousands)	14,495			14,495			14,650			14,705			14,702			14,495			14,702
Cash dividends declared	$	0.87		$	0.79		$	0.79		$	0.79		$	0.79		$	2.45		$	2.22
Book value per share (period-end)	55.12			52.72			51.63			49.69			50.42			55.12			50.42
Tangible book value per share (period-end)	44.19			41.76			40.74			38.80			39.49			44.19			39.49
Market data:
High closing price	$	133.58		$	123.42		$	120.39		$	134.35		$	123.29		$	133.58		$	123.29
Low closing price	118.89			108.93			114.48			113.37			104.53			108.93			98.35
Period-end closing price	123.87			122.42			117.47			118.48			117.39			123.87			117.39
Average daily volume (in thousands)	112			76			63			53			56			84			59
Treasury share activity:
Treasury shares repurchased (in thousands)	—			175			81			—			—			255			179
Average treasury share repurchase price	$	—		$	111.09		$	117.42		$	—		$	—		$	113.09		$	100.24

Key Ratios (percent)
Return on average assets	2.11		%	2.03		%	1.89		%	1.75		%	1.87		%	2.01		%	1.88		%
Return on average tangible equity	22.5		%	22.7		%	20.7		%	19.4		%	20.9		%	22.0		%	21.9		%
Yield on interest earning assets	5.43		%	5.38		%	5.32		%	5.31		%	5.43		%	5.38		%	5.38		%
Cost of interest bearing liabilities	1.91		%	1.95		%	2.02		%	2.14		%	2.13		%	1.96		%	2.03		%


Net Interest Margin	4.04		%	3.95		%	3.84		%	3.75		%	3.87		%	3.95	%	3.90	%
Non-interest income as a percent of total revenue	24.7		%	24.7		%	25.1		%	25.8		%	26.5		%	24.8	%	25.8	%
Efficiency Ratio	46.0		%	49.0		%	49.6		%	48.4		%	48.8		%	48.1	%	48.9	%
Price/Earnings Ratio (a)	12.84			13.38			14.26			15.27			14.54			13.75		14.76

Capital (period-end)
Average Shareholders' Equity to Average Assets	11.81		%	11.37		%	11.56		%	11.46		%	11.45		%
Tangible equity to tangible assets	9.84		%	9.40		%	9.23		%	9.06		%	9.26		%
Consolidated City Holding Company risk based capital ratios (b):
CET I	17.19		%	16.78		%	16.84		%	16.51		%	16.64		%
Tier I	17.19		%	16.78		%	16.84		%	16.51		%	16.64		%
Total	17.66		%	17.26		%	17.36		%	17.02		%	17.17		%
Leverage	11.06		%	10.70		%	10.76		%	10.62		%	10.59		%
City National Bank risk based capital ratios (b):
CET I	15.83		%	15.10		%	14.38		%	13.55		%	16.00		%
Tier I	15.83		%	15.10		%	14.38		%	13.55		%	16.00		%
Total	16.30		%	15.58		%	14.90		%	14.05		%	16.52		%
Leverage	10.18		%	9.63		%	9.19		%	8.72		%	10.17		%

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

Assets per FTE (in thousands)	$	7,138		$	7,064		$	7,028		$	6,864		$	6,845
Deposits per FTE (in thousands)	5,629			5,619			5,580			5,467			5,428

(a) The price/earnings ratio is computed based on annualized quarterly earnings.
(b) September 30, 2025 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										Nine Months Ended
	September 30,		June 30,		March 31,		December 31,		September 30,		September 30,		September 30,
	2025		2025		2025		2024		2024		2025		2024
Interest Income
Interest and fees on loans	$	64,606	$	62,588	$	60,917	$	61,701	$	61,407	$	188,111	$	179,820
Interest on investment securities:
Taxable	15,947		15,347		13,945		13,742		14,403		45,239		40,390
Tax-exempt	708		712		724		789		824		2,144		2,492
Interest on deposits in depository institutions	829		1,644		1,802		2,588		1,417		4,275		4,907
Total Interest Income	82,090		80,291		77,388		78,820		78,051		239,769		227,609

Interest Expense
Interest on deposits	16,201		16,492		16,852		17,463		17,072		49,545		47,066
Interest on customer repurchase agreements	3,196		3,307		3,169		4,191		3,788		9,672		11,309
Interest on FHLB long-term advances	1,586		1,568		1,552		1,586		1,586		4,706		4,577
Total Interest Expense	20,983		21,367		21,573		23,240		22,446		63,923		62,952
Net Interest Income	61,107		58,924		55,815		55,580		55,605		175,846		164,657
(Recovery of) Provision for credit losses	(500)		(2,000)		—		300		1,200		(2,500)		1,520
Net Interest Income After (Recovery of) Provision for Credit Losses	61,607		60,924		55,815		55,280		54,405		178,346		163,137

Non-Interest Income
Net gains (losses) on sale of investment securities	37		150		—		(2,812)		(12)		187		(13)
Unrealized gains (losses) recognized on securities still held	96		(263)		(5)		(390)		353		(172)		565
Service charges	7,852		7,264		7,151		7,679		7,531		22,267		21,546
Bankcard revenue	7,324		7,233		6,807		7,109		7,346		21,364		21,391
Wealth and investment management fee income	3,075		3,016		2,902		2,947		2,923		8,993		8,308
Bank owned life insurance	919		942		1,153		855		1,435		3,014		3,137
Other income	851		894		729		739		772		2,474		2,273
Total Non-Interest Income	20,154		19,236		18,737		16,127		20,348		58,127		57,207

Non-Interest Expense
Salaries and employee benefits	19,779		19,995		19,194		19,489		19,245		58,968		56,874
Occupancy related expense	2,340		2,316		2,582		2,308		2,387		7,238		7,307
Equipment and software related expense	3,618		3,554		3,470		3,683		3,431		10,642		9,490
Bankcard expenses	2,191		2,203		2,215		1,909		2,271		6,609		6,600
Other tax-related matters	2,104		2,327		2,262		1,873		1,756		6,693		5,803
Advertising	668		964		873		901		1,081		2,505		2,920
FDIC insurance expense	761		756		776		729		734		2,293		2,163
Legal and professional fees	549		651		582		629		500		1,782		1,533


Repossessed asset losses (gains), net of expenses	37		292		(66)		(10)		21		263		256
Other expenses	5,868		5,941		5,747		5,414		6,212		17,556		17,364
Total Non-Interest Expense	37,915		38,999		37,635		36,925		37,638		114,549		110,310
Income Before Income Taxes	43,846		41,161		36,917		34,482		37,115		121,924		110,034
Income tax expense	8,658		7,774		6,575		5,828		7,306		23,007		21,587
Net Income Available to Common Shareholders	$	35,188	$	33,387	$	30,342	$	28,654	$	29,809	$	98,917	$	88,447

Distributed earnings allocated to common shareholders	$	12,495	$	11,346	$	11,483	$	11,511	$	11,506	$	35,186	$	32,333
Undistributed earnings allocated to common shareholders	22,370		21,735		18,624		16,881		18,025		62,867		55,291
Net earnings allocated to common shareholders	$	34,865	$	33,081	$	30,107	$	28,392	$	29,531	$	98,053	$	87,624

Average common shares outstanding	14,457		14,466		14,616		14,634		14,633		14,512		14,691
Shares for diluted earnings per share	14,463		14,471		14,631		14,655		14,654		14,521		14,711

Basic earnings per common share	$	2.41	$	2.29	$	2.06	$	1.94	$	2.02	$	6.76	$	5.96
Diluted earnings per common share	$	2.41	$	2.29	$	2.06	$	1.94	$	2.02	$	6.75	$	5.96

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Balance Sheets

($ in 000s)


	(Unaudited)		(Unaudited)		(Unaudited)				(Unaudited)
	September 30,		June 30,		March 31,		December 31,		September 30,
	2025		2025		2025		2024		2024
Assets
Cash and due from banks	$	129,665	$	145,876	$	135,029	$	117,580	$	161,333
Interest-bearing deposits in depository institutions	95,929		26,248		249,676		107,809		132,616
Cash and cash equivalents	225,594		172,124		384,705		225,389		293,949

Investment securities available-for-sale, at fair value	1,510,772		1,562,423		1,416,808		1,421,306		1,462,795
Other securities	29,878		29,768		29,809		29,803		30,859
Total investment securities	1,540,650		1,592,191		1,446,617		1,451,109		1,493,654

Gross loans	4,412,775		4,339,196		4,285,824		4,274,776		4,157,830
Allowance for credit losses	(19,658)		(19,724)		(21,669)		(21,922)		(21,832)
Net loans	4,393,117		4,319,472		4,264,155		4,252,854		4,135,998

Bank owned life insurance	123,506		122,587		121,738		120,887		120,061
Premises and equipment, net	69,539		69,038		69,696		70,539		70,651
Accrued interest receivable	21,890		21,654		21,603		20,650		21,785
Net deferred tax assets	32,159		33,994		35,184		41,704		33,497
Intangible assets	158,414		158,957		159,501		160,044		160,640
Other assets	102,763		108,120		119,757		116,283		104,079
Total Assets	$	6,667,632	$	6,598,137	$	6,622,956	$	6,459,459	$	6,434,314

Liabilities
Deposits:
Noninterest-bearing	$	1,377,313	$	1,383,247	$	1,365,870	$	1,344,449	$	1,339,538
Interest-bearing:
Demand deposits	1,338,872		1,333,858		1,355,806		1,335,220		1,351,239
Savings deposits	1,238,832		1,244,179		1,260,903		1,215,358		1,208,828
Time deposits	1,302,575		1,287,536		1,275,890		1,249,123		1,203,046
Total deposits	5,257,592		5,248,820		5,258,469		5,144,150		5,102,651

Customer repurchase agreements	369,012		339,834		347,729		325,655		339,153
FHLB long-term advances	150,000		150,000		150,000		150,000		150,000
Other liabilities	92,085		95,268		110,422		108,990		101,211
Total Liabilities	$	5,868,689	$	5,833,922	$	5,866,620	$	5,728,795	$	5,693,015


Stockholders' Equity
Preferred stock	—		—		—		—		—
Common stock	47,619		47,619		47,619		47,619		47,619
Capital surplus	173,733		172,853		174,300		176,506		175,602
Retained earnings	915,971		893,422		871,406		852,757		835,778
Treasury stock	(254,153)		(254,181)		(237,038)		(230,499)		(230,836)
Accumulated other comprehensive loss:
Unrealized loss on securities available-for-sale	(82,785)		(94,056)		(98,509)		(114,277)		(84,283)
Underfunded pension liability	(1,442)		(1,442)		(1,442)		(1,442)		(2,581)
Total Accumulated Other Comprehensive Loss	(84,227)		(95,498)		(99,951)		(115,719)		(86,864)
Total Stockholders' Equity	798,943		764,215		756,336		730,664		741,299
Total Liabilities and Stockholders' Equity	$	6,667,632	$	6,598,137	$	6,622,956	$	6,459,459	$	6,434,314

Regulatory Capital
Total CET 1 capital	$	726,739	$	702,729	$	698,721	$	688,707	$	669,862
Total tier 1 capital	726,738		702,729		698,721		688,707		669,862
Total risk-based capital	746,422		722,477		720,400		709,820		690,857
Total risk-weighted assets	4,226,712		4,186,844		4,150,062		4,171,271		4,024,686

CITY HOLDING COMPANY AND SUBSIDIARIES

Loan Portfolio

(Unaudited) ($ in 000s)


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

Commercial and industrial	$	426,654	$	409,317	$	423,265	$	419,838	$	424,414

1-4 Family	204,280		199,400		195,641		197,258		194,670
Hotels	397,338		380,496		372,758		389,660		383,232
Multi-family	233,678		221,970		215,546		240,943		193,875
Non Residential Non-Owner Occupied	728,625		740,104		742,323		707,265		665,210
Non Residential Owner Occupied	239,058		236,935		232,732		233,497		236,826
Commercial real estate (1)	1,802,979		1,778,905		1,759,000		1,768,623		1,673,813

Residential real estate (2)	1,909,791		1,884,449		1,841,851		1,823,610		1,806,578
Home equity	218,750		207,906		203,253		199,192		190,149
Consumer	50,056		52,795		54,670		57,816		58,710
DDA overdrafts	4,545		5,824		3,785		5,697		4,166
Gross Loans	$	4,412,775	$	4,339,196	$	4,285,824	$	4,274,776	$	4,157,830

Construction loans included in:
(1) - Commercial real estate loans	$	31,892	$	28,781	$	25,683	$	24,681	$	2,736
(2) - Residential real estate loans	6,785		6,416		5,276		7,547		7,604

CITY HOLDING COMPANY AND SUBSIDIARIES

Asset Quality Information

(Unaudited) ($ in 000s)


	Three Months Ended															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,			September 30,
	2025			2025			2025			2024			2024			2025			2024
Allowance for Loan Losses
Balance at beginning of period	$	19,724		$	21,669		$	21,922		$	21,832		$	22,688		$	21,922		$	22,745

Charge-offs:
Commercial and industrial	(7)			—			(30)			(99)			(206)			(37)			(573)
Commercial real estate	(2)			—			(220)			—			(1,909)			(222)			(1,980)
Residential real estate	(160)			(49)			—			(75)			(43)			(209)			(348)
Home equity	(55)			(97)			(1)			(23)			(57)			(153)			(205)
Consumer	(9)			(36)			(129)			(23)			(24)			(174)			(159)
DDA overdrafts	(399)			(327)			(379)			(405)			(436)			(1,105)			(1,165)
Total charge-offs	(632)			(509)			(759)			(625)			(2,675)			(1,900)			(4,430)

Recoveries:
Commercial and industrial	400			15			37			1			24			452			87
Commercial real estate	202			51			30			12			193			283			369
Residential real estate	35			49			1			3			27			85			255
Home equity	64			96			4			17			13			164			60
Consumer	16			25			9			15			25			50			147
DDA overdrafts	349			328			425			367			337			1,102			1,079
Total recoveries	1,066			564			506			415			619			2,136			1,997

Net recoveries (charge-offs)	434			55			(253)			(210)			(2,056)			236			(2,433)
(Recovery of) Provision for credit losses	(500)			(2,000)			—			300			1,200			(2,500)			1,520
Balance at end of period	$	19,658		$	19,724		$	21,669		$	21,922		$	21,832		$	19,658		$	21,832

Loans outstanding	$	4,412,775		$	4,339,196		$	4,285,824		$	4,274,776		$	4,157,830
Allowance as a percent of loans outstanding	0.45		%	0.45		%	0.51		%	0.51		%	0.53		%
Allowance as a percent of non-performing loans	142.5		%	140.3		%	135.5		%	154.3		%	141.1		%

Average loans outstanding	$	4,378,342		$	4,310,222		$	4,292,794		$	4,215,962		$	4,133,520		$	4,327,432		$	4,106,271
Net (recoveries) charge-offs (annualized) as a percent of average loans outstanding	(0.04)		%	(0.01)		%	0.02		%	0.02		%	0.20		%	(0.01)		%	0.08		%

CITY HOLDING COMPANY AND SUBSIDIARIES

Asset Quality Information, Continued

(Unaudited) ($ in 000s)


	September 30,			June 30,			March 31,			December 31,			September 30,
	2025			2025			2025			2024			2024
Nonaccrual Loans
Residential real estate	$	2,624		$	3,602		$	3,226		$	2,823		$	2,596
Home equity	498			283			269			212			109
Commercial and industrial	555			600			2,781			3,161			3,631
Commercial real estate	9,169			9,515			9,692			7,833			9,031
Consumer	—			—			—			—			—
Total nonaccrual loans	12,846			14,000			15,968			14,029			15,367
Accruing loans past due 90 days or more	946			63			26			182			102
Total non-performing loans	13,792			14,063			15,994			14,211			15,469
Other real estate owned	485			185			457			754			729
Total Non-Performing Assets	$	14,277		$	14,248		$	16,451		$	14,965		$	16,198

Non-performing assets as a percent of loans and other real estate owned	0.32		%	0.33		%	0.38		%	0.35		%	0.39		%

Past Due Loans
Residential real estate	$	5,635		$	6,497		$	5,936		$	7,012		$	8,205
Home equity	651			788			892			902			1,571
Commercial and industrial	140			—			4			—			57
Commercial real estate	1,314			202			476			240			992
Consumer	221			163			9			273			161
DDA overdrafts	328			336			214			391			333
Total Past Due Loans	$	8,289		$	7,986		$	7,531		$	8,818		$	11,319

Total past due loans as a percent of loans outstanding	0.19		%	0.18		%	0.18		%	0.21		%	0.27		%

CITY HOLDING COMPANY AND SUBSIDIARIES

Consolidated Average Balance Sheets, Yields, and Rates

(Unaudited) ($ in 000s)


	Three Months Ended
	September 30, 2025						June 30, 2025						September 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)	$	2,106,823	$	28,235	5.32	%	$	2,068,082	$	27,015	5.24	%	$	1,984,502	$	25,654	5.14	%
Commercial, financial, and agriculture (2)	2,215,319		35,443		6.35	%	2,184,357		34,640		6.36	%	2,082,888		34,708		6.63	%
Installment loans to individuals (2), (3)	56,200		928		6.55	%	57,783		935		6.49	%	66,130		1,045		6.29	%
Total loans	4,378,342		64,606		5.85	%	4,310,222		62,590		5.82	%	4,133,520		61,407		5.91	%
Securities:
Taxable	1,435,540		15,947		4.41	%	1,416,770		15,347		4.34	%	1,343,323		14,402		4.27	%
Tax-exempt (4)	127,878		895		2.78	%	128,165		902		2.82	%	159,225		1,043		2.61	%
Total securities	1,563,418		16,842		4.27	%	1,544,935		16,249		4.22	%	1,502,548		15,445		4.09	%
Deposits in depository institutions	74,918		829		4.39	%	147,662		1,644		4.47	%	103,322		1,417		5.46	%
Total interest-earning assets	6,016,678		82,277		5.43	%	6,002,819		80,483		5.38	%	5,739,390		78,269		5.43	%
Cash and due from banks	96,097						94,199						110,765
Premises and equipment, net	69,355						69,523						70,998
Goodwill and intangible assets	158,619						159,164						161,009
Other assets	282,993						291,943						292,758
Less: Allowance for loan losses	(20,109)						(22,127)						(23,205)
Total Assets	$	6,603,633					$	6,595,521					$	6,351,715

Liabilities:
Interest-bearing demand deposits	$	1,329,234	$	3,378	1.01	%	$	1,343,532	$	3,332	0.99	%	$	1,321,922	$	4,100	1.23	%
Savings deposits	1,241,494		2,348		0.75	%	1,247,766		2,302		0.74	%	1,220,009		2,200		0.72	%
Time deposits (2)	1,295,424		10,475		3.21	%	1,283,806		10,858		3.39	%	1,174,217		10,772		3.65	%
Customer repurchase agreements	343,903		3,196		3.69	%	359,626		3,307		3.69	%	323,844		3,788		4.65	%
FHLB long-term advances	150,000		1,586		4.19	%	150,000		1,568		4.19	%	150,000		1,586		4.21	%
Total interest-bearing liabilities	4,360,055		20,983		1.91	%	4,384,730		21,367		1.95	%	4,189,992		22,446		2.13	%
Noninterest-bearing demand deposits	1,374,486						1,363,481						1,334,762
Other liabilities	89,456						97,480						99,797
Stockholders' equity	779,636						749,830						727,164
Total Liabilities and Stockholders' Equity	$	6,603,633					$	6,595,521					$	6,351,715
Net Interest Income			$	61,294					$	59,116					$	55,823
Net Yield on Earning Assets					4.04	%					3.95	%					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			$	39					$	6					$	127


(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	$	166	$	57	$	27
Commercial, financial, and agriculture	535		676		$	752
Installment loans to individuals	2		—		$	5
Time deposits	3		3		$	14
Total	$	706	$	736	$	798

(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

Consolidated Average Balance Sheets, Yields, and Rates

(Unaudited) ($ in 000s)


	Nine Months Ended
	September 30, 2025						September 30, 2024
	Average				Yield/		Average				Yield/
	Balance		Interest		Rate		Balance		Interest		Rate
Assets:
Loan portfolio (1):
Residential real estate (2)	$	2,068,502	$	81,373	5.26	%	$	1,968,377	$	74,566	5.06	%
Commercial, financial, and agriculture (2)	2,200,471		103,959		6.32	%	2,070,431		102,211		6.59	%
Installment loans to individuals (2), (3)	58,459		2,779		6.36	%	67,463		3,042		6.02	%

Total loans	4,327,432		188,111		5.81	%	4,106,271		179,819		5.85	%
Securities:
Taxable	1,390,756		45,239		4.35	%	1,282,167		40,390		4.21	%
Tax-exempt (4)	130,179		2,714		2.79	%	159,654		3,154		2.64	%
Total securities	1,520,935		47,953		4.22	%	1,441,821		43,544		4.03	%
Deposits in depository institutions	128,556		4,275		4.45	%	119,649		4,907		5.48	%
Total interest-earning assets	5,976,923		240,339		5.38	%	5,667,741		228,270		5.38	%
Cash and due from banks	96,370						104,269
Premises and equipment, net	69,721						71,479
Goodwill and intangible assets	159,162						161,622
Other assets	291,080						305,113
Less: Allowance for loan losses	(21,499)						(23,014)
Total Assets	$	6,571,757					$	6,287,210

Liabilities:
Interest-bearing demand deposits	$	1,336,129	$	10,007	1.00	%	$	1,308,779	$	11,384	1.16	%
Savings deposits	1,242,141		6,921		0.74	%	1,240,788		6,705		0.72	%
Time deposits (2)	1,281,575		32,616		3.40	%	1,124,295		28,977		3.44	%
Customer repurchase agreements	345,735		9,672		3.74	%	324,631		11,309		4.65	%
FHLB long-term advances	150,000		4,707		4.20	%	145,620		4,577		4.20	%
Total interest-bearing liabilities	4,355,580		63,923		1.96	%	4,144,113		62,952		2.03	%
Noninterest-bearing demand deposits	1,358,250						1,332,988
Other liabilities	97,024						109,194
Stockholders' equity	760,903						700,915
Total Liabilities and Stockholders' Equity	$	6,571,757					$	6,287,210
Net Interest Income			$	176,416					$	165,318
Net Yield on Earning Assets					3.95	%					3.90	%

(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			$	246					$	320


(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	$	245	$	145
Commercial, financial, and agriculture	1,741		2,499
Installment loans to individuals	6		17
Time deposits	13		98
	$	2,005	$	2,759

(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															Nine Months Ended
	September 30,			June 30,			March 31,			December 31,			September 30,			September 30,		September 30,
	2025			2025			2025			2024			2024			2025		2024
Net Interest Income/Margin
Net interest income ("GAAP")	$	61,107		$	58,924		$	55,815		$	55,580		$	55,605		$	175,846	$	164,657
Taxable equivalent adjustment	187			192			192			210			218			570		661
Net interest income, fully taxable equivalent	$	61,294		$	59,116		$	56,007		$	55,790		$	55,823		$	176,416	$	165,318

Tangible Equity Ratio (period-end)
Equity to assets ("GAAP")	11.98		%	11.58		%	11.41		%	11.31		%	11.52		%
Effect of goodwill and other intangibles, net	(2.14)			(2.18)			(2.18)			(2.25)			(2.26)
Tangible common equity to tangible assets	9.84		%	9.40		%	9.23		%	9.06		%	9.26		%


Commercial Loan Information (period-end)

Commercial Sector	Total		% of Total Loans		Average DSC	Average LTV

Natural Gas Extraction	$	48,855	1.11%		2.86	NA
Natural Gas Distribution	13,033		0.30		2.55	NA
Masonry Contractors	26,460		0.60		1.01	100%
Sheet Metal Work Manufacturing	27,357		0.62		1.40	68%
Beer & Ale Merchant Wholesalers	25,487		0.58		1.53	NA
Gasoline Stations with Convenience Stores	41,152		0.94		5.07	65%
Lessors of Residential Buildings & Dwellings	495,937		11.27		1.64	67%
1-4 Family	190,495		4.33		2.96	71%
Multi-Family	209,438		4.76		1.80	68%
Lessors of Nonresidential Buildings	606,257		13.78		1.42	65%
Office Buildings	166,592		3.79		1.65	62%
Lessors of Mini-Warehouses & Self-Storage Units	54,757		1.24		1.23	60%
Assisted Living Facilities	25,712		0.58		1.46	52%
Hotels & Motels	397,755		9.04		1.77	67%

	Average Balance		Median Balance
Commercial Loans	$	487	$	100
Commercial Real Estate Loans	555		129


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

Estimated Uninsured Deposits by Deposit Type
	September 30, 2025		June 30, 2025
Noninterest-Bearing Demand Deposits	17	%	16	%

Interest-Bearing Deposits
Demand Deposits	15	%	14	%
Savings Deposits	13	%	12	%
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	24,379	3,763	1.4	%
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).