Toggle SGML Header (+)


Section 1: 10-Q (10-Q)

Document
0.230.230.230P30D0.0020.002P90D0.30.20.30.2false--12-31Q320190000726854 0.531.450.571.632.502.5050000000500000001904754819047548000000.0150.04P120DP180DP120D025255000005000000039862913335811172124924032745409700022132798724260674 0000726854 2019-01-01 2019-09-30 0000726854 exch:XNGS 2019-01-01 2019-09-30 0000726854 2019-11-01 0000726854 2018-12-31 0000726854 2019-09-30 0000726854 2019-07-01 2019-09-30 0000726854 2018-01-01 2018-09-30 0000726854 2018-07-01 2018-09-30 0000726854 us-gaap:DepositAccountMember 2018-07-01 2018-09-30 0000726854 us-gaap:DepositAccountMember 2019-07-01 2019-09-30 0000726854 us-gaap:FiduciaryAndTrustMember 2018-01-01 2018-09-30 0000726854 us-gaap:DebitCardMember 2018-07-01 2018-09-30 0000726854 us-gaap:FiduciaryAndTrustMember 2019-01-01 2019-09-30 0000726854 us-gaap:FiduciaryAndTrustMember 2018-07-01 2018-09-30 0000726854 us-gaap:DepositAccountMember 2018-01-01 2018-09-30 0000726854 us-gaap:DebitCardMember 2018-01-01 2018-09-30 0000726854 us-gaap:DebitCardMember 2019-07-01 2019-09-30 0000726854 us-gaap:FiduciaryAndTrustMember 2019-07-01 2019-09-30 0000726854 us-gaap:DepositAccountMember 2019-01-01 2019-09-30 0000726854 us-gaap:DebitCardMember 2019-01-01 2019-09-30 0000726854 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0000726854 us-gaap:TreasuryStockMember 2018-09-30 0000726854 us-gaap:RetainedEarningsMember 2018-06-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0000726854 us-gaap:RetainedEarningsMember 2018-09-30 0000726854 2018-06-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0000726854 us-gaap:CommonStockMember 2018-06-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-07-01 2018-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0000726854 us-gaap:TreasuryStockMember 2018-07-01 2018-09-30 0000726854 us-gaap:CommonStockMember 2018-09-30 0000726854 2018-09-30 0000726854 us-gaap:TreasuryStockMember 2018-06-30 0000726854 us-gaap:TreasuryStockMember 2019-06-30 0000726854 us-gaap:CommonStockMember 2019-06-30 0000726854 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0000726854 us-gaap:TreasuryStockMember 2019-07-01 2019-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0000726854 us-gaap:RetainedEarningsMember 2019-06-30 0000726854 us-gaap:TreasuryStockMember 2019-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0000726854 us-gaap:RetainedEarningsMember 2019-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0000726854 us-gaap:CommonStockMember 2019-09-30 0000726854 2019-06-30 0000726854 us-gaap:AccountingStandardsUpdate201601Member us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-30 0000726854 us-gaap:CommonStockMember 2017-12-31 0000726854 2017-12-31 0000726854 us-gaap:TreasuryStockMember 2017-12-31 0000726854 us-gaap:TreasuryStockMember 2018-01-01 2018-09-30 0000726854 us-gaap:RetainedEarningsMember 2017-12-31 0000726854 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0000726854 us-gaap:RetainedEarningsMember 2018-01-01 2018-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0000726854 us-gaap:AccountingStandardsUpdate201601Member us-gaap:RetainedEarningsMember 2018-01-01 2018-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-30 0000726854 us-gaap:CommonStockMember 2018-12-31 0000726854 us-gaap:TreasuryStockMember 2019-01-01 2019-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0000726854 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0000726854 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0000726854 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0000726854 us-gaap:RetainedEarningsMember 2018-12-31 0000726854 us-gaap:TreasuryStockMember 2018-12-31 0000726854 chco:CityNationalMember stpr:OH 2019-09-30 0000726854 chco:CityNationalMember stpr:VA 2019-09-30 0000726854 chco:CityNationalMember stpr:WV 2019-09-30 0000726854 chco:CityNationalMember 2019-09-30 0000726854 chco:CityNationalMember stpr:KY 2019-09-30 0000726854 chco:PoageBanksharesInc.Member 2018-12-07 0000726854 chco:PoageandFarmersMember 2018-12-07 0000726854 chco:FarmersDepositBancorpInc.Member 2018-12-07 0000726854 chco:FarmersDepositBancorpInc.Member 2018-01-01 2018-12-31 0000726854 chco:PoageBanksharesInc.Member 2018-01-01 2018-12-31 0000726854 chco:PoageandFarmersMember 2018-01-01 2018-12-31 0000726854 chco:PoageBanksharesInc.Member 2019-01-01 2019-09-30 0000726854 chco:FarmersDepositBancorpInc.Member 2019-01-01 2019-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0000726854 us-gaap:DebtSecuritiesMember 2019-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2018-12-31 0000726854 us-gaap:DebtSecuritiesMember 2018-12-31 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2019-09-30 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember 2018-12-31 0000726854 us-gaap:CertificatesOfDepositMember 2019-09-30 0000726854 us-gaap:AssetBackedSecuritiesMember 2019-09-30 0000726854 srt:MaximumMember chco:EagleFinancialServicesInc.EFSIMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember 2019-09-30 0000726854 srt:MaximumMember chco:FirstNationalCorporationFXNCMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember 2018-12-31 0000726854 srt:MaximumMember chco:EagleFinancialServicesInc.EFSIMember 2018-12-31 0000726854 srt:MaximumMember chco:FirstNationalCorporationFXNCMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-09-30 0000726854 us-gaap:HomeEquityMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember 2018-12-31 0000726854 us-gaap:HomeEquityMember 2018-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-01-01 2018-09-30 0000726854 us-gaap:HomeEquityMember 2018-01-01 2018-09-30 0000726854 us-gaap:ConsumerLoanMember 2018-01-01 2018-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2018-01-01 2018-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-01-01 2019-09-30 0000726854 us-gaap:ConsumerLoanMember 2019-01-01 2019-09-30 0000726854 us-gaap:HomeEquityMember 2019-01-01 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2019-01-01 2019-09-30 0000726854 us-gaap:CommercialLoanMember 2018-01-01 2018-09-30 0000726854 us-gaap:CommercialLoanMember 2019-01-01 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2019-01-01 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-01-01 2018-09-30 0000726854 us-gaap:CommercialLoanMember 2019-01-01 2019-09-30 0000726854 us-gaap:CommercialLoanMember 2018-01-01 2018-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:PerformingFinancingReceivableMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:PerformingFinancingReceivableMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:NonperformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember us-gaap:NonperformingFinancingReceivableMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:PerformingFinancingReceivableMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:NonperformingFinancingReceivableMember 2019-09-30 0000726854 chco:NoncommercialLoansMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember us-gaap:PerformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:NonperformingFinancingReceivableMember 2019-09-30 0000726854 chco:NoncommercialLoansMember us-gaap:PerformingFinancingReceivableMember 2019-09-30 0000726854 chco:NoncommercialLoansMember 2019-09-30 0000726854 chco:NoncommercialLoansMember us-gaap:NonperformingFinancingReceivableMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:NonperformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:PerformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:NonperformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:PerformingFinancingReceivableMember 2018-12-31 0000726854 chco:NoncommercialLoansMember us-gaap:NonperformingFinancingReceivableMember 2018-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:PerformingFinancingReceivableMember 2018-12-31 0000726854 chco:NoncommercialLoansMember us-gaap:PerformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:NonperformingFinancingReceivableMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:PerformingFinancingReceivableMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:NonperformingFinancingReceivableMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember 2018-12-31 0000726854 us-gaap:HomeEquityMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember 2019-09-30 0000726854 us-gaap:HomeEquityMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-12-31 0000726854 us-gaap:HomeEquityMember 2018-06-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2018-07-01 2018-09-30 0000726854 us-gaap:CommercialLoanMember 2018-06-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2019-07-01 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerLoanMember 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember chco:DemandDepositAccountOverdraftsMember 2018-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember 2019-01-01 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2019-09-30 0000726854 us-gaap:HomeEquityMember 2018-09-30 0000726854 us-gaap:CommercialLoanMember 2018-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2018-01-01 2018-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-07-01 2018-09-30 0000726854 us-gaap:HomeEquityMember 2018-07-01 2018-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialLoanMember 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:HomeEquityMember 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialRealEstateMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2018-06-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-06-30 0000726854 us-gaap:CommercialRealEstateMember 2019-07-01 2019-09-30 0000726854 us-gaap:CommercialLoanMember 2019-07-01 2019-09-30 0000726854 us-gaap:ConsumerLoanMember 2018-01-01 2018-09-30 0000726854 us-gaap:HomeEquityMember 2019-07-01 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-01-01 2019-09-30 0000726854 us-gaap:HomeEquityMember 2018-01-01 2018-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember chco:DemandDepositAccountOverdraftsMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember 2017-12-31 0000726854 us-gaap:CommercialLoanMember 2018-07-01 2018-09-30 0000726854 us-gaap:CommercialRealEstateMember 2017-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember 2017-12-31 0000726854 us-gaap:ConsumerLoanMember 2018-07-01 2018-09-30 0000726854 us-gaap:ConsumerLoanMember 2019-01-01 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2018-01-01 2018-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2018-09-30 0000726854 us-gaap:ConsumerLoanMember 2019-07-01 2019-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialRealEstateMember 2018-12-31 0000726854 us-gaap:HomeEquityMember 2019-01-01 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember 2019-07-01 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember 2018-06-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:CommercialLoanMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember 2018-07-01 2018-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ResidentialRealEstateMember 2018-12-31 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:HomeEquityMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember 2019-06-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ConsumerLoanMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember 2018-09-30 0000726854 us-gaap:ConsumerLoanMember 2018-06-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2018-06-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember 2018-12-31 0000726854 us-gaap:HomeEquityMember 2017-12-31 0000726854 us-gaap:ConsumerLoanMember 2019-06-30 0000726854 us-gaap:CommercialLoanMember 2017-12-31 0000726854 us-gaap:CommercialRealEstateMember 2018-09-30 0000726854 us-gaap:CommercialLoanMember 2019-06-30 0000726854 us-gaap:ResidentialRealEstateMember 2018-09-30 0000726854 us-gaap:FinancialAssetAcquiredWithCreditDeteriorationMember us-gaap:ResidentialRealEstateMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember 2019-06-30 0000726854 us-gaap:HomeEquityMember 2019-06-30 0000726854 us-gaap:ResidentialRealEstateMember 2017-12-31 0000726854 us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 chco:DemandDepositAccountOverdraftsMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2019-09-30 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 us-gaap:ConsumerLoanMember us-gaap:FinancingReceivables60To89DaysPastDueMember 2018-12-31 0000726854 us-gaap:ResidentialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:FinancingReceivables30To59DaysPastDueMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:DoubtfulMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:DoubtfulMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:SubstandardMember 2019-09-30 0000726854 us-gaap:SubstandardMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:PassMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:DoubtfulMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember us-gaap:PassMember 2018-12-31 0000726854 us-gaap:SubstandardMember 2019-09-30 0000726854 us-gaap:PassMember 2018-12-31 0000726854 us-gaap:SpecialMentionMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:SubstandardMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:SubstandardMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:PassMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember us-gaap:SubstandardMember 2019-09-30 0000726854 chco:CommercialIndustrialLoansAndCommercialRealEstateMember 2019-09-30 0000726854 us-gaap:DoubtfulMember 2018-12-31 0000726854 us-gaap:CommercialRealEstateMember us-gaap:PassMember 2019-09-30 0000726854 chco:CommercialIndustrialLoansAndCommercialRealEstateMember 2018-12-31 0000726854 us-gaap:PassMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:SpecialMentionMember 2019-09-30 0000726854 us-gaap:CommercialLoanMember us-gaap:DoubtfulMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:SpecialMentionMember 2018-12-31 0000726854 us-gaap:CommercialLoanMember us-gaap:SpecialMentionMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:SpecialMentionMember 2018-12-31 0000726854 us-gaap:DoubtfulMember 2019-09-30 0000726854 us-gaap:SpecialMentionMember 2019-09-30 0000726854 chco:CommercialIndustrialLoansAndCommercialRealEstateMember 2018-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2018-01-01 2018-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2019-01-01 2019-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2019-07-01 2019-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2018-07-01 2018-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2019-07-01 2019-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2018-07-01 2018-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2018-01-01 2018-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2019-01-01 2019-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2019-01-01 2019-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2018-07-01 2018-09-30 0000726854 us-gaap:OtherLiabilitiesMember us-gaap:NondesignatedMember us-gaap:OtherExpenseMember 2019-07-01 2019-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:NondesignatedMember us-gaap:OtherIncomeMember 2018-01-01 2018-09-30 0000726854 us-gaap:OtherLiabilitiesMember chco:CustomerCounterpartiesLoanInterestRateSwapLiabilitiesMember us-gaap:NondesignatedMember 2019-09-30 0000726854 us-gaap:OtherLiabilitiesMember chco:FinancialInstitutionCounterpartiesLoanInterestRateSwapLiabilitiesMember us-gaap:NondesignatedMember 2018-12-31 0000726854 us-gaap:OtherLiabilitiesMember chco:CustomerCounterpartiesLoanInterestRateSwapLiabilitiesMember us-gaap:NondesignatedMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember chco:CustomerCounterpartiesLoanInterestRateSwapAssetsMember us-gaap:NondesignatedMember 2018-12-31 0000726854 us-gaap:OtherLiabilitiesMember chco:FinancialInstitutionCounterpartiesLoanInterestRateSwapLiabilitiesMember us-gaap:NondesignatedMember 2019-09-30 0000726854 us-gaap:OtherAssetsMember chco:FinancialInstitutionCounterpartiesLoanInterestRateSwapAssetMember us-gaap:NondesignatedMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember chco:CustomerCounterpartiesLoanInterestRateSwapAssetsMember us-gaap:NondesignatedMember 2019-09-30 0000726854 us-gaap:OtherAssetsMember chco:FinancialInstitutionCounterpartiesLoanInterestRateSwapAssetMember us-gaap:NondesignatedMember 2019-09-30 0000726854 us-gaap:RestrictedStockMember 2019-09-30 0000726854 us-gaap:RestrictedStockMember 2018-01-01 2018-09-30 0000726854 us-gaap:RestrictedStockMember 2019-01-01 2019-09-30 0000726854 us-gaap:RestrictedStockMember 2018-09-30 0000726854 us-gaap:RestrictedStockMember 2018-12-31 0000726854 us-gaap:RestrictedStockMember 2017-12-31 0000726854 us-gaap:EmployeeStockOptionMember 2018-12-31 0000726854 us-gaap:EmployeeStockOptionMember 2017-12-31 0000726854 us-gaap:EmployeeStockOptionMember 2019-09-30 0000726854 us-gaap:EmployeeStockOptionMember 2018-09-30 0000726854 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-09-30 0000726854 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0000726854 chco:OtherCommitmentsMember us-gaap:CommitmentsToExtendCreditMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:CommitmentsToExtendCreditMember 2019-09-30 0000726854 us-gaap:StandbyLettersOfCreditMember 2018-12-31 0000726854 us-gaap:HomeEquityMember us-gaap:CommitmentsToExtendCreditMember 2019-09-30 0000726854 us-gaap:StandbyLettersOfCreditMember 2019-09-30 0000726854 us-gaap:CommercialRealEstateMember us-gaap:CommitmentsToExtendCreditMember 2018-12-31 0000726854 us-gaap:LetterOfCreditMember 2019-09-30 0000726854 us-gaap:HomeEquityMember us-gaap:CommitmentsToExtendCreditMember 2018-12-31 0000726854 us-gaap:LetterOfCreditMember 2018-12-31 0000726854 chco:OtherCommitmentsMember us-gaap:CommitmentsToExtendCreditMember 2018-12-31 0000726854 chco:VISAInc.VISAMember us-gaap:CommonClassAMember 2019-09-30 0000726854 chco:VISAInc.VISAMember us-gaap:CommonClassBMember 2019-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-12-31 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-07-01 2019-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-06-30 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-09-30 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-01-01 2018-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-07-01 2018-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-09-30 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-06-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-06-30 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-12-31 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-06-30 0000726854 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-09-30 0000726854 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2017-12-31 0000726854 us-gaap:AccountingStandardsUpdate201601Member 2018-01-01 2018-09-30 0000726854 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-07-01 2018-09-30 0000726854 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-07-01 2019-09-30 0000726854 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-09-30 0000726854 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-01-01 2018-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:FairValueInputsLevel2Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 chco:ImpairedLoansMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember 2019-01-01 2019-09-30 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:FairValueInputsLevel1Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember 2019-01-01 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:OtherRealEstateOwnedMember 2018-01-01 2018-12-31 0000726854 us-gaap:FairValueInputsLevel1Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:FairValueInputsLevel3Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember 2018-01-01 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 chco:OtherRealEstateOwnedMember us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 chco:ImpairedLoansMember 2018-01-01 2018-12-31 0000726854 chco:OtherRealEstateOwnedMember 2019-01-01 2019-09-30 0000726854 chco:ImpairedLoansMember us-gaap:FairValueMeasurementsNonrecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USTreasuryAndGovernmentMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:CertificatesOfDepositMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:AssetBackedSecuritiesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-09-30 0000726854 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:FairValueInputsLevel2Member us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:DerivativeFinancialInstrumentsAssetsMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:CorporateDebtSecuritiesMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:USStatesAndPoliticalSubdivisionsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0000726854 us-gaap:OtherAssetsMember us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0000726854 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-09-30 0000726854 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-09-30 0000726854 us-gaap:FairValueInputsLevel3Member 2018-12-31 0000726854 us-gaap:FairValueInputsLevel2Member 2019-09-30 0000726854 us-gaap:FairValueInputsLevel2Member 2018-12-31 0000726854 us-gaap:FairValueInputsLevel1Member 2018-12-31 0000726854 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-12-31 0000726854 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2018-12-31 0000726854 us-gaap:FairValueInputsLevel3Member 2019-09-30 0000726854 us-gaap:FairValueInputsLevel1Member 2019-09-30 0000726854 srt:MaximumMember 2019-01-01 2019-09-30 0000726854 srt:MinimumMember 2019-01-01 2019-09-30 0000726854 srt:MinimumMember 2018-01-01 2018-12-31 0000726854 srt:MaximumMember 2018-01-01 2018-12-31 0000726854 srt:MinimumMember 2018-01-01 2018-09-30 0000726854 srt:MaximumMember 2018-01-01 2018-09-30 0000726854 chco:OtherNonInterestIncomeDomain 2019-01-01 2019-09-30 0000726854 chco:OtherNonInterestIncomeDomain 2018-01-01 2018-09-30 0000726854 chco:FeesandCommissionsFiduciaryandTrustAccountsDomain 2018-07-01 2018-09-30 0000726854 chco:OtherNonInterestIncomeDomain 2018-07-01 2018-09-30 0000726854 chco:FeesandCommissionsDepositorAccountsDomain 2018-01-01 2018-09-30 0000726854 chco:FeesandCommissionsDebitCardsDomain 2018-01-01 2018-09-30 0000726854 chco:OtherNonInterestIncomeDomain 2019-07-01 2019-09-30 0000726854 chco:FeesandCommissionsDepositorAccountsDomain 2019-07-01 2019-09-30 0000726854 chco:FeesandCommissionsDebitCardsDomain 2019-01-01 2019-09-30 0000726854 chco:FeesandCommissionsDepositorAccountsDomain 2019-01-01 2019-09-30 0000726854 chco:FeesandCommissionsFiduciaryandTrustAccountsDomain 2019-07-01 2019-09-30 0000726854 chco:FeesandCommissionsFiduciaryandTrustAccountsDomain 2018-01-01 2018-09-30 0000726854 chco:FeesandCommissionsDebitCardsDomain 2018-07-01 2018-09-30 0000726854 chco:FeesandCommissionsFiduciaryandTrustAccountsDomain 2019-01-01 2019-09-30 0000726854 chco:FeesandCommissionsDepositorAccountsDomain 2018-07-01 2018-09-30 0000726854 chco:FeesandCommissionsDebitCardsDomain 2019-07-01 2019-09-30 xbrli:pure chco:store xbrli:shares iso4217:USD iso4217:USD xbrli:shares chco:contract
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ___________ to _____________

Commission file number 0-11733
400859299_chcologoa02a15.jpg

CITY HOLDING COMPANY
(Exact name of registrant as specified in its charter)
West Virginia
 
55-0619957
(State or other jurisdiction of incorporation or organization)
 
(I.R.S. Employer Identification No.)
 
 
25 Gatewater Road,
Charleston,
West Virginia
25313
(Address of Principal Executive Offices)
(Zip Code)

(304) 769-1100
Registrant's telephone number, including area code


(Former name, former address and former fiscal year, if changed since last report)


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: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o 




Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes  x   No  o 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated Filer
x
Accelerated filer
  o
Non accelerated filer  
o
Smaller reporting company
 
 
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.
o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).     Yes       No  

The registrant had outstanding 16,302,139 shares of common stock as of November 1, 2019.




FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q 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 (as hereinafter defined) 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, 2018 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 loan 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; (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.






Table of Contents

Index
City Holding Company and Subsidiaries

Pages
 
 
 
Item 1.
 
 
 
 
 
 
Item 2.
Item 3.
Item 4.
 
 
 
 
 
 
 
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
 
 
 
 



Table of Contents

Part I -
FINANCIAL INFORMATION

Item 1 -
Financial Statements


1

Table of Contents

Consolidated Balance Sheets
City Holding Company and Subsidiaries
(in thousands)
 
(Unaudited)
 
 
 
September 30, 2019
 
December 31, 2018
Assets
 
 
Cash and due from banks
$
71,332

 
$
55,016

Interest-bearing deposits in depository institutions
44,862

 
67,975

Cash and Cash Equivalents
116,194

 
122,991

 
 
 
 
Investment securities available for sale, at fair value
798,930

 
721,796

Investment securities held-to-maturity, at amortized cost (approximate fair value at September 30, 2019 and December 31, 2018 - $52,845 and $60,706, respectively)
51,211

 
60,827

Other securities
28,070

 
30,268

Total Investment Securities
878,211

 
812,891

 
 
 
 
Gross loans
3,582,571

 
3,587,608

Allowance for loan losses
(13,186
)
 
(15,966
)
Net Loans
3,569,385

 
3,571,642

 
 
 
 
Bank owned life insurance
114,616

 
113,544

Premises and equipment, net
76,929

 
78,383

Accrued interest receivable
12,929

 
12,424

Net deferred tax asset
6,432

 
17,338

Goodwill and other intangible assets, net
120,773

 
122,848

Other assets
62,248

 
46,951

Total Assets
$
4,957,717

 
$
4,899,012

 
 
 
 
Liabilities
 

 
 

Deposits:
 

 
 

Noninterest-bearing
$
795,548

 
$
789,119

Interest-bearing:
 

 
 

   Demand deposits
898,704

 
899,568

   Savings deposits
980,539

 
934,218

   Time deposits
1,354,787

 
1,352,654

Total Deposits
4,029,578

 
3,975,559

 
 
 
 
Short-term borrowings:
 
 
 
   Federal funds purchased

 
40,000

   Customer repurchase agreements
202,622

 
221,911

Long-term debt
4,055

 
4,053

Other liabilities
71,859

 
56,725

Total Liabilities
4,308,114

 
4,298,248

Shareholders’ Equity
 

 
 

Preferred stock, par value $25 per share: 500,000 shares authorized; none issued

 

Common stock, par value $2.50 per share: 50,000,000 shares authorized; 19,047,548 shares issued at September 30, 2019 and December 31, 2018, less 2,745,409 and 2,492,403 shares in treasury, respectively
47,619

 
47,619

Capital surplus
169,794

 
169,555

Retained earnings
525,933

 
485,967

Cost of common stock in treasury
(105,138
)
 
(87,895
)
Accumulated other comprehensive income (loss):
 

 
 

    Unrealized gain (loss) on securities available-for-sale
17,266

 
(8,611
)
    Underfunded pension liability
(5,871
)
 
(5,871
)
Total Accumulated Other Comprehensive Income (Loss)
11,395

 
(14,482
)
Total Shareholders’ Equity
649,603

 
600,764

Total Liabilities and Shareholders’ Equity
$
4,957,717

 
$
4,899,012

See notes to consolidated financial statements.

2

Table of Contents

Consolidated Statements of Income (Unaudited)
City Holding Company and Subsidiaries
(in thousands, except earnings per share data)
Interest Income
Three months ended September 30,
 
Nine months ended September 30,
2019
2018
 
2019
2018
 
 
 
 
 
Interest and fees on loans
$
42,944

$
36,872

 
$
128,397

$
104,082

Interest and dividends on investment securities:
 

 

 
 
 
Taxable
6,044

4,216

 
17,465

12,314

Tax-exempt
722

701

 
2,257

2,114

Interest on deposits in depository institutions
271

940

 
1,034

1,043

Total Interest Income
49,981

42,729

 
149,153

119,553

 
 
 
 
 
 
Interest Expense
 

 

 
 
 
Interest on deposits
8,585

5,497

 
24,768

14,741

Interest on short-term borrowings
814

1,435

 
2,729

2,354

Interest on long-term debt
45

239

 
140

680

Total Interest Expense
9,444

7,171

 
27,637

17,775

Net Interest Income
40,537

35,558

 
121,516

101,778

Provision for (recovery of) loan losses
274

(27
)
 
(1,175
)
(1,910
)
Net Interest Income After Provision for (Recovery of) Loan Losses
40,263

35,585

 
122,691

103,688

 
 
 
 
 
 
Non-Interest Income
 

 

 
 
 
(Losses) gains on sale of investment securities, net
(40
)

 
69


Unrealized (losses) gains recognized on equity securities still held
(214
)
384

 
(27
)
1,155

Service charges
8,183

7,598

 
23,281

21,783

Bankcard revenue
5,440

4,677

 
15,931

13,543

Trust and investment management fee income
1,802

1,579

 
5,144

4,792

Bank owned  life insurance
762

813

 
2,910

2,356

Other income
765

702

 
3,139

2,227

Total Non-Interest Income
16,698

15,753

 
50,447

45,856

 
 
 
 
 
 
Non-Interest Expense
 

 

 
 
 
Salaries and employee benefits
15,210

13,576

 
46,220

40,459

Occupancy related expense
2,725

2,323

 
8,055

7,073

Equipment and software related expense
2,248

1,965

 
6,662

5,691

FDIC insurance expense

315

 
639

943

Advertising
861

808

 
2,650

2,444

Bankcard expenses
1,554

1,134

 
4,270

3,274

Postage, delivery, and statement mailings
659

537

 
1,828

1,630

Office supplies
382

364

 
1,167

1,006

Legal and professional fees
539

453

 
1,665

1,378

Telecommunications
569

408

 
1,892

1,349

Repossessed asset (gains) losses, net of expenses
(59
)
156

 
410

638

Merger related costs

242

 
797

242

Other expenses
3,709

2,759

 
12,326

8,765

Total Non-Interest Expense
28,397

25,040

 
88,581

74,892

Income Before Income Taxes
28,564

26,298

 
84,557

74,652

Income tax expense
6,193

5,606

 
17,816

15,369

Net Income Available to Common Shareholders
$
22,371

$
20,692

 
$
66,741

$
59,283


3

Table of Contents

 
 
 
 
 
 
Total Comprehensive Income
$
28,678

$
16,367

 
$
92,618

$
44,307

 
 
 
 
 
 
Average shares outstanding, basic
16,271

15,340

 
16,350

15,360

Effect of dilutive securities
18

18

 
18

20

Average shares outstanding, diluted
16,289

15,358

 
16,368

15,380

 
 
 
 
 
 
Basic earnings per common share
$
1.36

$
1.34

 
$
4.05

$
3.82

Diluted earnings per common share
$
1.36

$
1.33

 
$
4.04

$
3.82


See notes to consolidated financial statements.


4

Table of Contents

Consolidated Statements of Comprehensive Income (Unaudited)
City Holding Company and Subsidiaries
(in thousands)

 
Three Months Ended
Nine Months Ended
 
September 30,
September 30,
 
2019
2018
2019
2018
 
 
 
 
 
Net income available to common shareholders
$
22,371

$
20,692

$
66,741

$
59,283

 
 
 
 
 
Available-for-Sale Securities
 
 
 
 
Unrealized gains (losses) on available-for-sale securities arising during the period
8,199

(5,638
)
33,870

(19,520
)
Reclassification adjustment for gains (losses)
40


(69
)

   Other comprehensive income (loss) before income taxes
8,239

(5,638
)
33,801

(19,520
)
Tax effect
(1,932
)
1,313

(7,924
)
4,544

   Other comprehensive income (loss), net of tax
6,307

(4,325
)
25,877

(14,976
)
 
 
 
 
 
    Comprehensive Income, Net of Tax
$
28,678

$
16,367

$
92,618

$
44,307


See notes to consolidated financial statements.


5

Table of Contents

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)
City Holding Company and Subsidiaries
Three Months Ended September 30, 2019 and 2018
(in thousands)



 
Common Stock
Capital Surplus
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Total Shareholders’ Equity
Balance at June 30, 2018
$
47,619

$
140,091

$
471,515

$
(136,520
)
$
(18,952
)
$
503,753

Net income


20,692



20,692

Other comprehensive income (loss)




(4,325
)
(4,325
)
Cash dividends declared ($0.53 per share)


(8,190
)


(8,190
)
Stock-based compensation expense

455




455

Exercise of 3,986 stock options

(96
)

277


181

Purchase of 7,000 treasury shares



(540
)

(540
)
Balance at September 30, 2018
$
47,619

$
140,450

$
484,017

$
(136,783
)
$
(23,277
)
$
512,026


 
Common Stock
Capital Surplus
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Total Shareholders’ Equity
Balance at June 30, 2019
$
47,619

$
169,374

$
512,911

$
(98,084
)
$
5,088

$
636,908

Net income


22,371



22,371

Other comprehensive income (loss)




6,307

6,307

Cash dividends declared ($0.57 per share)


(9,349
)


(9,349
)
Stock-based compensation expense

527




527

Exercise of 3,581 stock options

(107
)

268


161

Purchase of 98,724 treasury shares



(7,322
)

(7,322
)
Balance at September 30, 2019
$
47,619

$
169,794

$
525,933

$
(105,138
)
$
11,395

$
649,603


See notes to consolidated financial statements.


6

Table of Contents

Consolidated Statements of Changes in Shareholders’ Equity (Unaudited)
City Holding Company and Subsidiaries
Nine Months Ended September 30, 2019 and 2018
(in thousands)



 
Common Stock
Capital Surplus
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Total Shareholders’ Equity
Balance at December 31, 2017
$
47,619

$
140,960

$
444,481

$
(124,909
)
$
(5,644
)
$
502,507

Net income


59,283



59,283

Other comprehensive income (loss)




(14,976
)
(14,976
)
Adoption of ASU No. 2016-01


2,657


(2,657
)

Cash dividends declared ($1.45 per share)


(22,404
)


(22,404
)
Stock-based compensation expense

1,697




1,697

Restricted awards granted

(1,494
)

1,494



Exercise of 29,133 stock options

(713
)

1,862


1,149

Purchase of 221,327 treasury shares



(15,230
)

(15,230
)
Balance at September 30, 2018
$
47,619

$
140,450

$
484,017

$
(136,783
)
$
(23,277
)
$
512,026


 
Common Stock
Capital Surplus
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Total Shareholders’ Equity
Balance at December 31, 2018
$
47,619

$
169,555

$
485,967

$
(87,895
)
$
(14,482
)
$
600,764

Net income


66,741



66,741

Other comprehensive income (loss)




25,877

25,877

Cash dividends declared ($1.63 per share)


(26,775
)


(26,775
)
Stock-based compensation expense

1,901




1,901

Restricted awards granted

(1,557
)

1,557



Exercise of 11,721 stock options

(105
)

631


526

Purchase of 260,674 treasury shares



(19,431
)

(19,431
)
Balance at September 30, 2019
$
47,619

$
169,794

$
525,933

$
(105,138
)
$
11,395

$
649,603


See notes to consolidated financial statements.


7

Table of Contents

Consolidated Statements of Cash Flows (Unaudited)
City Holding Company and Subsidiaries
(in thousands)

 
Nine months ended September 30,
2019
 
2018
Net income
$
66,741

 
$
59,283

Adjustments to reconcile net income to net cash provided by operating activities:
 

 
 

Accretion and amortization, net
521

 
1,154

Recovery of loan losses
(1,175
)
 
(1,910
)
Depreciation of premises and equipment
3,736

 
3,819

Deferred income tax expense
2,906

 
921

Net periodic employee benefit cost
579

 
438

Unrealized and realized investment securities gains, net
(42
)
 
(1,155
)
Stock-compensation expense
1,901

 
1,697

Excess tax benefit from stock-compensation expense
(461
)
 
(155
)
Increase in value of bank-owned life insurance
(2,909
)
 
(1,932
)
Loans held for sale
 
 
 
   Loans originated for sale
(14,229
)
 
(9,286
)
   Proceeds from the sale of loans originated for sale
15,192

 
9,601

   Gain on sale of loans
(421
)
 
(249
)
Change in accrued interest receivable
(505
)
 
(2,226
)
Change in other assets
(16,188
)
 
(15,709
)
Change in other liabilities
14,521

 
11,543

Net Cash Provided by Operating Activities
70,167

 
55,834

 
 
 
 
Net decrease (increase) in loans
5,332

 
(19,057
)
Securities available-for-sale
 
 
 
     Purchases
(170,396
)
 
(82,661
)
     Proceeds from sales
70,241

 

     Proceeds from maturities and calls
55,237

 
38,520

Securities held-to-maturity
 
 
 
     Proceeds from maturities and calls
9,554

 
6,552

Other investments
 
 
 
     Purchases
(10,366
)
 
(18,566
)
     Proceeds from sales
12,555

 
15,397

Purchases of premises and equipment
(3,515
)
 
(4,236
)
Disposals of premises and equipment
1,008

 
772

Proceeds from bank-owned life insurance policies
2,211

 
425

Sale of Virginia Beach branch, net
(24,661
)
 

Net Cash Used in Investing Activities
(52,800
)
 
(62,854
)
 
 
 
 
Net increase in non-interest-bearing deposits
17,188

 
5,403

Net increase in interest-bearing deposits
63,099

 
122,594

Net (decrease) increase in short-term borrowings
(59,289
)
 
137,905

Purchases of treasury stock
(19,431
)
 
(15,230
)
Proceeds from exercise of stock options
526

 
1,149

Dividends paid
(26,257
)
 
(21,399
)
Net Cash (Used in) Provided by Financing Activities
(24,164
)
 
230,422

(Decrease) Increase in Cash and Cash Equivalents
(6,797
)
 
223,402

Cash and cash equivalents at beginning of period
122,991

 
82,508

Cash and Cash Equivalents at End of Period
$
116,194

 
$
305,910

See notes to consolidated financial statements.

8

Table of Contents

Notes to Consolidated Financial Statements (Unaudited)
September 30, 2019

Note A –Background and Basis of Presentation

City Holding Company ("City Holding"), a West Virginia corporation headquartered in Charleston, West Virginia, is a registered financial holding company under the Bank Holding Company Act and conducts its principal activities through its wholly-owned subsidiary, City National Bank of West Virginia ("City National"). City National is a retail and consumer-oriented community bank with 95 banking offices in West Virginia (58), Kentucky (20), Virginia (13) and southeastern Ohio (4). City National provides credit, deposit, and trust and investment management services to its customers in a broad geographical area that includes many rural and small community markets in addition to larger cities including Charleston (WV), Huntington (WV), Martinsburg (WV), Ashland (KY), Lexington (KY), Winchester (VA) and Staunton (VA). In addition to its branch network, City National's delivery channels include automated-teller-machines ("ATMs"), interactive-teller machines ("ITMs"), mobile banking, debit cards, interactive voice response systems, and Internet technology. The Company’s business activities are currently limited to one reportable business segment, which is community banking.

On January 30, 2019, the Company announced that City National had signed a definitive agreement to sell its Virginia Beach, Virginia branch. The terms of the agreement provided for the acquirer to assume the majority of deposits and to acquire the equipment and other select assets associated with the branch, while City National retained the loans. The transaction closed during the second quarter of 2019. As a result of this transaction, the Company recognized a gain of $0.7 million, which is included in the line item "Other Income" in the consolidated statements of income, and outstanding deposit balances decreased by $25.7 million.

The accompanying consolidated financial statements, which are unaudited, include all of the accounts of City Holding and its wholly-owned subsidiaries (collectively, the "Company"). All material intercompany transactions have been eliminated. The consolidated financial statements include all adjustments that, in the opinion of management, are necessary for a fair presentation of the results of operations and financial condition for each of the periods presented. Such adjustments are of a normal recurring nature. The results of operations for the nine months ended September 30, 2019 are not necessarily indicative of the results of operations that can be expected for the year ending December 31, 2019. The Company’s accounting and reporting policies conform with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Such policies require management to make estimates and develop assumptions that affect the amounts reported in the consolidated financial statements and related footnotes. Actual results could differ from management’s estimates.

The consolidated balance sheet as of December 31, 2018 has been derived from audited financial statements included in the Company’s 2018 Annual Report to Shareholders.  Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted.  These financial statements should be read in conjunction with the financial statements and notes thereto included in the 2018 Annual Report of the Company.

Certain amounts in the financial statements have been reclassified.  Such reclassifications had no impact on shareholders’ equity or net income for any period.

Note B – Recent Accounting Pronouncements

Recently Adopted:

Leases

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” This standard requires organizations to recognize right-of-use ("ROU") assets and lease liabilities on the balance sheet and disclose key information about leasing requirements for leases that were historically classified as operating leases under previous generally accepted accounting principles. Leases will be classified as financing or operating, with classification affecting the pattern and classification of expense recognition in the income statement. Topic 842 was subsequently amended by ASU No. 2018-01 "Land Easement Practical Expedient for Transition to Topic 842," ASU No. 2018-10, "Codification Improvements to Topic 842, Leases," ASU No. 2018-11 "Targeted Improvements," ASU No. 2018-20 "Narrow-Scope Improvements for Lessors," and ASU No. 2019-01 "Codification Improvements." The Company adopted the new standard on January 1, 2019 and has chosen to use that date as the effective date of initial application. Consequently, financial information will not be updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The new standard provides a number of optional practical

9

Table of Contents

expedients in transition. The Company has elected the "package of practical expedients," which permits it to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. As part of the adoption of this standard, the Company recognized lease liabilities, with corresponding ROU assets of approximately the same amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. The adoption of this standard did not have a material impact on the Company's financial statements. Operating lease expense is recognized on a straight-line basis over the lease term.

Others

In March 2017, the FASB issued ASU No. 2017-08, "Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The amendments in this update shorten the amortization period for certain callable debt securities held at a premium and require the premium to be amortized to the earliest call date. This ASU became effective for the Company on January 1, 2019. The adoption of ASU No. 2017-08 did not have a material impact on the Company's financial statements.

In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This amendment expands and refines hedge accounting for both nonfinancial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. This ASU became effective for the Company on January 1, 2019. The adoption of this ASU did not have a material impact on the Company's financial statements. In April 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments." This amendment clarifies the guidance in ASU No. 2017-12. This amendment will become effective for the Company on January 1, 2020. The adoption of ASU No. 2019-04 is not expected to have a material impact on the Company's financial statements.

In October 2018, the FASB issued ASU No. 2018-16, "Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." This amendment permits the use of the OIS rate based on SOFR as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815 in addition to the UST, the LIBOR swap rate, the OIS rate based on the Federal Funds Effective Rate, and the SIFMA Municipal Swap Rate. This ASU became effective for the Company on January 1, 2019 with anticipation the LIBOR index will be phased out by the end of 2021. The Company is in the process of reviewing all of its contracts that will be impacted by changing from LIBOR to SOFR.

Pending Adoption:

CECL

In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." This standard replaces the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments in this update require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The new current expected credit losses model ("CECL") will apply to the allowance for loan losses, available-for-sale and held-to-maturity debt securities, purchased financial assets with credit deterioration and certain off-balance sheet credit exposures. In November 2018, the FASB issued ASU No. 2018-19, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses." This amendment clarifies the scope of the guidance in ASU No. 2016-13. In December 2018, the federal bank regulators issued a final rule that would provide an optional three-year phase-in period for the day-one regulatory capital effects of the adoption of ASU No. 2016-13, "Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, as amended, on January 1, 2020. In April 2019, the FASB issued ASU No. 2019-04, "Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments." This amendment clarifies the guidance in ASU No. 2016-13. In May 2019, the FASB issued ASU No. 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief." The amendments in this update provide targeted transition relief that is optional for, and will be available to, all reporting entities within the scope of Topic 326. These ASUs will become effective for the Company for interim and annual periods on January 1, 2020. Management has completed its implementation plan and testing is in process. Segmentation has been finalized. Parallel runs were processed during the third quarter of 2019 and the results were consistent with management's expectations. Management will continue to refine the methodology as final testing is performed during the fourth quarter of 2019. The standard will require the Company to gross up its previously purchased credit impaired loans through the allowance at the implementation date. The adoption of these ASUs could result in a material increase to the allowance for loan losses. While we are currently unable to reasonably estimate the impact of adopting these ASUs, management expects that the impact of adoption

10

Table of Contents

will be significantly influenced by the loan portfolio's composition and quality, as well as the prevailing economic conditions and forecasts as of the adoption date.

Others

In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." This amendment simplifies the measurement of goodwill by eliminating Step 2 from the goodwill impairment test. This ASU will become effective for the Company on January 1, 2020. The adoption of ASU No. 2017-04 is not expected to have a material impact on the Company's financial statements.

In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement." This amendment removes, modifies, and clarifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This ASU will become effective for the Company on January 1, 2020. The adoption of ASU No. 2018-13 is not expected to have a material impact on the Company's financial statements.

In August 2018, the FASB issued ASU No. 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans." This amendment removes, modifies, and clarifies certain disclosure requirements for defined benefit plans and other post-employment benefit plans. This ASU will become effective for the Company on January 1, 2021. The adoption of ASU No. 2018-14 is not expected to have a material impact on the Company's financial statements.

In October 2018, the FASB issued ASU No. 2018-17, "Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities." This amendment simplifies the analysis of fees paid to decision makers or service providers in determining variable interest entities. This ASU will become effective for the Company on January 1, 2020. The adoption of ASU No. 2018-17 is not expected to have a material impact on the Company's financial statements.

Note C –Acquisitions and Preliminary Purchase Price Allocation

On December 7, 2018, the Company acquired 100% of the outstanding common stock of Poage Bankshares, Inc., the parent company of Town Square Bank (collectively, "Poage"). The acquisition of Poage was structured as a stock transaction in which the Company issued approximately 1.1 million shares, valued at approximately $82.6 million, or $24.22 per share of Poage common stock.

On December 7, 2018, the Company also acquired 100% of the outstanding common stock of Farmers Deposit Bancorp, Inc., the parent company of Farmers Deposit Bank (collectively, "Farmers Deposit"). The acquisition of Farmers Deposit was structured as a cash transaction valued at $24.9 million, or $1,174.14 per share of Farmers Deposit common stock.

The Company accounted for both acquisitions using the acquisition method pursuant to "Topic 805 Business Combinations" of the FASB Accounting Standards Codification. The acquisition method requires the acquirer to recognize the assets acquired and the liabilities assumed at their fair values as of the acquisition date. The following table summarizes the estimated fair value of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):

11

Table of Contents

 
Farmers
 
 
 
Deposit
Poage
Total
Consideration
$
24,900

$
83,936

$
108,836

 
 
 
 
Identifiable assets:
 
 
 
   Cash and cash equivalents
4,173

34,325

38,498

   Investment securities
46,235

72,321

118,556

   Loans
58,485

304,359

362,844

   Bank owned life insurance

7,439

7,439

   Premises and equipment
568

4,547

5,115

   Deferred tax assets, net
137

2,222

2,359

   Other assets
2,302

8,770

11,072

     Total identifiable assets
111,900

433,983

545,883

 
 
 
 
Identifiable liabilities:
 
 
 
   Deposits
92,241

379,285

471,526

   Short-term borrowings
2,025


2,025

   Long-term debt

4,053

4,053

   Other liabilities
651

3,032

3,683

     Total identifiable liabilities
94,917

386,370

481,287

 
 
 
 
Net identifiable assets
16,983

47,613

64,596

Goodwill
4,583

28,269

32,852

Core deposit intangible
3,334

8,054

11,388

 
$
24,900

$
83,936

$
108,836


Acquired Loans
The following table presents information regarding the purchased credit-impaired and noncredit-impaired loans acquired in conjunction with both acquisitions as of the date of acquisition (in thousands):
Acquired Credit-Impaired
 
Contractually required principal and interest
$
25,315

Contractual cash flows not expected to be collected (non-accretable difference)
(13,593
)
Expected cash flows
11,722

Interest component of expected cash flows (accretable difference)
(2,375
)
Carrying value of purchased credit-impaired loans acquired
$
9,347

 
 
Acquired Noncredit-Impaired
 
Outstanding balance
$
354,343

Less: fair value adjustment
(846
)