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)
|
Yes
|
x
|
No
|
o
|
Large
accelerated filer
|
o
|
Accelerated
filer
|
x
|
Non-accelerated
filer
|
o
|
Yes
|
o
|
No
|
x
|
PART
I
|
Financial
Information
|
Pages
|
Item
1.
|
Financial
Statements (Unaudited).
|
4-17
|
Item
2.
|
18-32
|
|
Item
3.
|
32
|
|
Item
4.
|
32
|
|
PART
II
|
Other
Information
|
|
Item
1.
|
33
|
|
Item
1A.
|
33
|
|
Item
2.
|
33
|
|
Item
3.
|
33
|
|
Item
4.
|
33-34
|
|
Item
5.
|
34
|
|
Item
6.
|
34-35
|
|
35
|
||
June
30
|
December
31
|
||||||
2006
|
2005
|
||||||
(Unaudited)
|
(Note
A)
|
||||||
Assets
|
|||||||
Cash
and due from banks
|
$
|
59,282
|
$
|
81,822
|
|||
Interest-bearing
deposits in depository institutions
|
35,388
|
4,451
|
|||||
C
ash
and Cash Equivalents
|
94,670
|
86,273
|
|||||
Loans
held for sale
|
10,012
|
-
|
|||||
Securities
available for sale, at fair value
|
512,474
|
549,966
|
|||||
Securities
held-to-maturity, at amortized cost (approximate fair value at June
30,
2006 and December 31, 2005 - $57,092 and $58,892)
|
54,372
|
55,397
|
|||||
Total
Securities
|
566,846
|
605,363
|
|||||
Gross
loans
|
1,647,539
|
1,612,827
|
|||||
Allowance
for loan losses
|
(15,268
|
)
|
(16,790
|
)
|
|||
Net
Loans
|
1,632,271
|
1,596,037
|
|||||
Bank
owned life insurance
|
54,058
|
52,969
|
|||||
Premises
and equipment
|
43,094
|
42,542
|
|||||
Accrued
interest receivable
|
11,271
|
13,134
|
|||||
Net
deferred tax asset
|
30,095
|
27,929
|
|||||
Intangible
assets
|
59,219
|
59,559
|
|||||
Other
assets
|
20,485
|
18,791
|
|||||
Total
Assets
|
$
|
2,522,021
|
$
|
2,502,597
|
|||
Liabilities
|
|||||||
Deposits:
|
|||||||
Noninterest-bearing
|
$
|
345,207
|
$
|
376,076
|
|||
Interest-bearing:
|
|||||||
Demand
deposits
|
427,813
|
437,639
|
|||||
Savings
deposits
|
319,189
|
302,571
|
|||||
Time
deposits
|
880,261
|
812,134
|
|||||
Total
Deposits
|
1,972,470
|
1,928,420
|
|||||
Short-term
borrowings
|
142,156
|
152,255
|
|||||
Long-term
debt
|
90,854
|
98,425
|
|||||
Other
liabilities
|
32,421
|
31,356
|
|||||
Total
Liabilities
|
2,237,901
|
2,210,456
|
|||||
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; 18,499,282
shares issued and outstanding at June 30, 2006 and December 31, 2005,
less
928,811 and 395,465 shares in treasury, respectively
|
46,249
|
46,249
|
|||||
Capital
surplus
|
103,825
|
104,435
|
|||||
Retained
earnings
|
177,467
|
160,747
|
|||||
Cost
of common stock in treasury
|
(30,486
|
)
|
(11,278
|
)
|
|||
Accumulated
other comprehensive income:
|
|||||||
Unrealized
loss on securities available-for-sale
|
(8,750
|
)
|
(4,839
|
)
|
|||
Unrealized
loss on derivative instruments
|
(1,012
|
)
|
-
|
||||
Underfunded
pension liability
|
(3,173
|
)
|
(3,173
|
)
|
|||
Total
Accumulated Other Comprehensive Loss
|
(12,935
|
)
|
(8,012
|
)
|
|||
Total
Shareholders’ Equity
|
284,120
|
292,141
|
|||||
Total
Liabilities and Shareholders’ Equity
|
$
|
2,522,021
|
$
|
2,502,597
|
Three
Months Ended June 30
|
Six
Months Ended June 30
|
||||||||||||
2006
|
2005
|
2006
|
2005
|
||||||||||
Interest
Income
|
|||||||||||||
Interest
and fees on loans
|
$
|
30,451
|
$
|
24,523
|
$
|
60,014
|
$
|
46,713
|
|||||
Interest
on investment securities:
|
|||||||||||||
Taxable
|
7,489
|
7,682
|
14,748
|
15,328
|
|||||||||
Tax-exempt
|
455
|
447
|
922
|
882
|
|||||||||
Interest
on loans held for sale
|
200
|
-
|
200
|
-
|
|||||||||
Interest
on deposits in depository institutions
|
415
|
24
|
566
|
42
|
|||||||||
Interest
on federal funds sold
|
-
|
-
|
-
|
4
|
|||||||||
Total
Interest Income
|
39,010
|
32,676
|
76,450
|
62,969
|
|||||||||
Interest
Expense
|
|||||||||||||
Interest
on deposits
|
10,520
|
6,605
|
19,721
|
12,473
|
|||||||||
Interest
on short-term borrowings
|
1,326
|
787
|
2,452
|
1,364
|
|||||||||
Interest
on long-term debt
|
1,239
|
1,662
|
2,499
|
3,247
|
|||||||||
Total
Interest Expense
|
13,085
|
9,054
|
24,672
|
17,084
|
|||||||||
Net
Interest Income
|
25,925
|
23,622
|
51,778
|
45,885
|
|||||||||
Provision
for loan losses
|
675
|
-
|
1,675
|
-
|
|||||||||
Net
Interest Income After Provision for Loan Losses
|
25,250
|
23,622
|
50,103
|
45,885
|
|||||||||
Non-Interest
Income
|
|||||||||||||
Investment
securities gains
|
-
|
18
|
-
|
21
|
|||||||||
Service
charges
|
10,903
|
9,685
|
20,764
|
18,128
|
|||||||||
Insurance
commissions
|
521
|
545
|
1,135
|
1,137
|
|||||||||
Trust
and investment management fee income
|
504
|
462
|
1,070
|
1,053
|
|||||||||
Bank
owned life insurance
|
678
|
545
|
1,215
|
1,536
|
|||||||||
Other
income
|
857
|
843
|
1,667
|
1,667
|
|||||||||
Total
Non-Interest Income
|
13,463
|
12,098
|
25,851
|
23,542
|
|||||||||
Non-Interest
Expense
|
|||||||||||||
Salaries
and employee benefits
|
8,764
|
8,404
|
17,396
|
16,324
|
|||||||||
Occupancy
and equipment
|
1,624
|
1,564
|
3,223
|
3,039
|
|||||||||
Depreciation
|
1,071
|
994
|
2,121
|
1,938
|
|||||||||
Professional
fees and litigation expense
|
571
|
514
|
966
|
1,079
|
|||||||||
Postage,
delivery, and statement mailings
|
689
|
615
|
1,333
|
1,268
|
|||||||||
Advertising
|
755
|
762
|
1,529
|
1,467
|
|||||||||
Telecommunications
|
525
|
513
|
1,001
|
986
|
|||||||||
Bankcard
expenses
|
458
|
560
|
1,001
|
1,085
|
|||||||||
Insurance
and regulatory
|
381
|
365
|
769
|
731
|
|||||||||
Office
supplies
|
372
|
275
|
754
|
478
|
|||||||||
Repossessed
asset gains, net of expenses
|
(129
|
)
|
(16
|
)
|
(125
|
)
|
(15
|
)
|
|||||
Loss
on early estinguishment of debt
|
-
|
-
|
282
|
-
|
|||||||||
Other
expenses
|
2,474
|
2,289
|
4,802
|
4,472
|
|||||||||
Total
Non-Interest Expense
|
17,555
|
16,839
|
35,052
|
32,852
|
|||||||||
Income
Before Income Taxes
|
21,158
|
18,881
|
40,902
|
36,575
|
|||||||||
Income
tax expense
|
7,397
|
6,532
|
14,275
|
12,548
|
|||||||||
Net
Income
|
$
|
13,761
|
$
|
12,349
|
$
|
26,627
|
$
|
24,027
|
|||||
Basic
earnings per common share
|
$
|
0.78
|
$
|
0.72
|
$
|
1.49
|
$
|
1.42
|
|||||
Diluted
earnings per common share
|
$
|
0.77
|
$
|
0.71
|
$
|
1.49
|
$
|
1.40
|
|||||
Dividends
declared per common share
|
$
|
0.28
|
$
|
0.25
|
$
|
0.56
|
$
|
0.50
|
|||||
Average
common shares outstanding:
|
|||||||||||||
Basic
|
17,719
|
17,268
|
17,860
|
16,938
|
|||||||||
Diluted
|
17,772
|
17,477
|
17,917
|
17,146
|
Common
Stock
|
Capital
Surplus
|
Retained
Earnings
|
Treasury
Stock
|
Accumulated
Other Comprehensive Loss
|
Total
Shareholders’ Equity
|
||||||||||||||
Balances
at December 31, 2004
|
$
|
42,298
|
$
|
55,512
|
$
|
128,175
|
$
|
(8,761
|
)
|
$
|
(1,144
|
)
|
$
|
216,080
|
|||||
Comprehensive
income:
|
|||||||||||||||||||
Net
income
|
24,027
|
24,027
|
|||||||||||||||||
Other
comprehensive income, net of deferred income taxes of
$1,460:
|
|||||||||||||||||||
Net
unrealized losses on available-for-sale securities of $3,497, net
of
reclassification adjustment for gains included in net income of
$20
|
(2,086
|
)
|
(2,086
|
)
|
|||||||||||||||
Net
unrealized loss on interest rate floors of $173
|
(104
|
)
|
(104
|
)
|
|||||||||||||||
Total
comprehensive income
|
21,837
|
||||||||||||||||||
Cash
dividends declared ($0.50 per share)
|
(8,651
|
)
|
(8,651
|
)
|
|||||||||||||||
Issuance
of 1,580,034 shares for acquisition of Classic Bancshares, net 108,173
shares owned and transferred to treasury
|
3,951
|
53,739
|
(3,351
|
)
|
54,339
|
||||||||||||||
Issuance
of stock awards net
|
(307
|
)
|
454
|
147
|
|||||||||||||||
Exercise
of 38,368 stock options
|
(675
|
)
|
1,172
|
497
|
|||||||||||||||
Purchase
of 137,476 shares for treasury
|
(4,625
|
)
|
(4,625
|
)
|
|||||||||||||||
Balances
at June 30, 2005
|
$
|
46,249
|
$
|
108,269
|
$
|
143,551
|
$
|
(15,111
|
)
|
$
|
(3,334
|
)
|
$
|
279,624
|
Common
Stock
|
Capital
Surplus
|
Retained
Earnings
|
Treasury
Stock
|
Accumulated
Other Comprehensive Loss
|
Total
Shareholders’ Equity
|
||||||||||||||
Balances
at December 31, 2005
|
$
|
46,249
|
$
|
104,435
|
$
|
160,747
|
$
|
(11,278
|
)
|
$
|
(8,012
|
)
|
$
|
292,141
|
|||||
Comprehensive
income:
|
|||||||||||||||||||
Net
income
|
26,627
|
26,627
|
|||||||||||||||||
Other
comprehensive loss, net of deferred income taxes of
$3,282:
|
|||||||||||||||||||
Unrealized
losses on available-for-sale securities of $6,518, net of
taxes
|
(3,911
|
)
|
(3,911
|
)
|
|||||||||||||||
Net
unrealized loss on interest rate floors of $1,687
|
(1,012
|
)
|
(1,012
|
)
|
|||||||||||||||
Total
comprehensive income
|
21,704
|
||||||||||||||||||
Cash
dividends declared ($0.56 per share)
|
(9,907
|
)
|
(9,907
|
)
|
|||||||||||||||
Issuance
of stock awards net
|
(58
|
)
|
245
|
187
|
|||||||||||||||
Exercise
of 32,007 stock options
|
(747
|
)
|
1,172
|
425
|
|||||||||||||||
Excess
tax benefit on stock -based
compensation
|
195
|
195
|
|||||||||||||||||
Purchase
of 572,053 treasury shares
|
(20,625
|
)
|
(20,625
|
)
|
|||||||||||||||
Balances
at June 30, 2006
|
$
|
46,249
|
$
|
103,825
|
$
|
177,467
|
$
|
(30,486
|
)
|
$
|
(12,935
|
)
|
$
|
284,120
|
Six
Months Ended June 30
|
|||||||
2006
|
2005
|
||||||
Operating
Activities
|
|||||||
Net
income
|
$
|
26,627
|
$
|
24,027
|
|||
Adjustments
to reconcile net income to net cash provided by
operating
activities:
|
|||||||
Amortization
and accretion
|
(1,453
|
)
|
1,048
|
||||
Provision
for loan losses
|
1,675
|
-
|
|||||
Depreciation
of premises and equipment
|
2,121
|
1,938
|
|||||
Deferred
income tax expense
|
1,010
|
1,874
|
|||||
Net
periodic employee benefit cost
|
123
|
24
|
|||||
Loss
on early extinguishment of debt
|
282
|
-
|
|||||
Realized
investment securities gains
|
-
|
(21
|
)
|
||||
Loss
(gain) on sale of premises and equipment
|
15
|
(67
|
)
|
||||
Proceeds
from bank-owned life insurance
|
125
|
910
|
|||||
Increase
in value of bank-owned life insurance
|
(1,214
|
)
|
(1,536
|
)
|
|||
Decrease
(increase) in accrued interest receivable
|
1,863
|
(727
|
)
|
||||
Increase
in other assets
|
(3,523
|
)
|
(3,923
|
)
|
|||
Increase
(decrease) in other liabilities
|
820
|
(3,789
|
)
|
||||
Net
Cash Provided by Operating Activities
|
28,471
|
19,758
|
|||||
Investing
Activities
|
|||||||
Proceeds
from maturities and calls of securities held-to-maturity
|
909
|
2,822
|
|||||
Proceeds
from sale of money market and mutual fund securities available-for-sale
|
500,250
|
668,100
|
|||||
Purchases
of money market and mutual fund securities
available-for-sale
|
(509,516
|
)
|
(666,650
|
)
|
|||
Proceeds
from sales of securities available-for-sale
|
3,223
|
1,604
|
|||||
Proceeds
from maturities and calls of securities available-for-sale
|
39,320
|
71,617
|
|||||
Purchases
of securities available-for-sale
|
(3,018
|
)
|
(11,737
|
)
|
|||
Net
(increase) in loans
|
(45,337
|
)
|
(15,132
|
)
|
|||
Sales
of premises and equipment
|
-
|
101
|
|||||
Purchases
of premises and equipment
|
(2,688
|
)
|
(1,352
|
)
|
|||
Acquisition,
net cash received
|
-
|
(7,121
|
)
|
||||
Net
Cash (Used in) Provided by Investing Activities
|
(16,857
|
)
|
42,252
|
||||
Financing
Activities
|
|||||||
Net
(decrease) in noninterest-bearing deposits
|
(30,869
|
)
|
(16,310
|
)
|
|||
Net
increase (decrease) in interest-bearing deposits
|
75,016
|
(13,249
|
)
|
||||
Net
(decrease) in short-term borrowings
|
(12,410
|
)
|
(13,323
|
)
|
|||
Repayment
of long-term debt
|
(2,731
|
)
|
(329
|
)
|
|||
Redemption
of trust preferred securities
|
(2,705
|
)
|
-
|
||||
Purchases
of treasury stock
|
(20,625
|
)
|
(4,625
|
)
|
|||
Exercise
of stock options
|
425
|
497
|
|||||
Excess
tax benefits from stock-based compensation arrangements
|
195
|
-
|
|||||
Dividends
paid
|
(9,513
|
)
|
(7,806
|
)
|
|||
Net
Cash Used in Financing Activities
|
(3,217
|
)
|
(55,145
|
)
|
|||
Increase
in Cash and Cash Equivalents
|
8,397
|
6,865
|
|||||
Cash
and cash equivalents at beginning of period
|
86,273
|
56,084
|
|||||
Cash
and Cash Equivalents at End of Period
|
$
|
94,670
|
$
|
62,949
|
As
of and for the Six
Months
Ended
|
As
of and for the Year Ended
|
|||||||||
June
30,
|
December
31,
|
|||||||||
(
in thousands)
|
2006
|
2005
|
2005
|
|||||||
(in
thousands)
|
||||||||||
Previously
Securitized Loans:
|
||||||||||
Total
principal amount of loans outstanding
|
$
|
39,976
|
$
|
59,403
|
$
|
48,061
|
||||
Discount
|
(17,723
|
)
|
(17,733
|
)
|
(17,805
|
)
|
||||
Net
book value
|
$
|
22,253
|
$
|
41,670
|
$
|
30,256
|
||||
Principal
amount of loans between 30 and 89 days past due
|
$
|
866
|
$
|
2,536
|
$
|
1,848
|
||||
Principal
amount of loans 90 days and above past due
|
277
|
376
|
268
|
|||||||
Net
credit recoveries during the period
|
2,552
|
1,306
|
3,225
|
(
in thousands)
|
June
30, 2006
|
December
31, 2005
|
|||||
Security
repurchase agreements
|
$
|
95,296
|
$
|
76,443
|
|||
Short-term
FHLB advances
|
46,860
|
75,812
|
|||||
Total
short-term borrowings
|
$
|
142,156
|
$
|
152,255
|
(dollars
in thousands)
|
Maturity
|
June
30, 2006
|
Weighted
Average Interest Rate
|
|||||||
FHLB
Advances
|
2008
|
$
|
46,941
|
3.55
|
%
|
|||||
FHLB
Advances
|
2009
|
10,021
|
4.86
|
%
|
||||||
FHLB
Advances
|
2010
|
3,000
|
6.05
|
%
|
||||||
FHLB
Advances
|
2011
|
1,000
|
5.98
|
%
|
||||||
FHLB
Advances
|
Thereafter
|
3,556
|
4.90
|
%
|
||||||
Junior
subordinated debentures
owed
to City Holding Capital
Trust
|
2028
(a
|
)
|
26,336
|
9.15
|
%
|
|||||
Total
long-term debt
|
$
|
90,854
|
For
the Six Months Ended June 30,
|
|||||||
2006
|
2005
|
||||||
Risk-free
interest rate
|
3.93
|
%
|
3.71
|
%
|
|||
Expected
dividend yield
|
2.98
|
%
|
3.12
|
%
|
|||
Volatility
factor
|
0.384
|
0.388
|
|||||
Expected
life of option
|
5
years
|
5
years
|
(in
thousands, except earnings per share data)
|
For
the Three
Months
Ended
June
30, 2005
|
For
the Six
Months
Ended
June
30, 2005
|
|||||
Net
income, as reported
|
$
|
12,349
|
$
|
24,027
|
|||
Pro
forma stock-based employee compensation
expense,
net of tax
|
(172
|
)
|
(204
|
)
|
|||
Net
income, pro forma
|
$
|
12,177
|
$
|
23,823
|
Basic
earnings per share, as reported
|
$
|
0.72
|
$
|
1.42
|
|||
Basic
earnings per share, pro forma
|
$
|
0.71
|
$
|
1.41
|
Diluted
earnings per share, as reported
|
$
|
0.71
|
$
|
1.40
|
|||
Diluted
earnings per share, pro forma
|
$
|
0.70
|
$
|
1.39
|
2006
|
2005
|
||||||||||||
Options
|
Weighted-Average
Exercise Price
|
Options
|
Weighted-Average
Exercise Price
|
||||||||||
Outstanding
at January 1
|
318,132
|
$
|
28.56
|
602,307
|
$
|
16.51
|
|||||||
Granted
|
-
|
-
|
99,000
|
32.15
|
|||||||||
Exercised
|
(32,007
|
)
|
13.30
|
(38,368
|
)
|
12.95
|
|||||||
Forfeited
|
-
|
-
|
(60,000
|
)
|
33.90
|
||||||||
Outstanding
at June 30
|
286,125
|
$
|
30.27
|
602,939
|
$
|
17.57
|
Ranges
of Exercise Prices
|
No.
of Options Outstanding
|
Weighted-Average
Exercise Price
|
Weighted-Average
Remaining Contractual Life (Months)
|
Aggregate
Intrinsic Value (in thousands)
|
No.
of Options Currently Exercisable
|
Weighted-Average
Exercise Price of Options Currently Exercisable
|
Aggregate
Intrinsic Value of Options Currently Exercisable (in
thousands)
|
|||||||||||||||
$13.30
|
24,100
|
$
|
13.30
|
67
|
$
|
550
|
24,100
|
$
|
13.30
|
$
|
550
|
|||||||||||
$28.00
- $36.90
|
262,025
|
31.83
|
97
|
1,161
|
189,400
|
31.66
|
881
|
|||||||||||||||
286,125
|
$
|
1,711
|
213,500
|
$
|
1,431
|
Three
months ended
June
30,
|
Six
months ended
June
30,
|
||||||||||||
(in
thousands)
|
2006
|
2005
|
2006
|
2005
|
|||||||||
Components
of net periodic cost:
|
|||||||||||||
Interest
cost
|
$
|
213
|
$
|
165
|
$
|
341
|
$
|
331
|
|||||
Expected
return on plan assets
|
(238
|
)
|
(191
|
)
|
(382
|
)
|
(381
|
)
|
|||||
Net
amortization and deferral
|
102
|
50
|
164
|
74
|
|||||||||
Net
Periodic Pension Cost
|
$
|
77
|
$
|
24
|
$
|
123
|
$
|
24
|
(
in thousands)
|
June
30, 2006
|
December
31, 2005
|
|||||
Commitments
to extend credit:
|
|||||||
Home
equity lines
|
$
|
144,671
|
$
|
148,259
|
|||
Credit
card lines
|
37,259
|
39,646
|
|||||
Commercial
real estate
|
60,063
|
65,966
|
|||||
Other
commitments
|
137,006
|
145,535
|
|||||
Standby
letters of credit
|
8,769
|
7,250
|
|||||
Commercial
letters of credit
|
525
|
312
|
Six
months ended June 30,
|
|||||||
(in
thousands)
|
2006
|
2005
|
|||||
Net
income
|
$
|
26,627
|
$
|
24,027
|
|||
Unrealized
security losses arising during the period
|
(6,518
|
)
|
(3,497
|
)
|
|||
Reclassification
adjustment for gains included in income
|
-
|
20
|
|||||
(6,518
|
)
|
(3,477
|
)
|
||||
Unrealized
loss on interest rate floors
|
(1,687
|
)
|
(173
|
)
|
|||
Other
comprehensive income before income taxes
|
(8,205
|
)
|
(3,650
|
)
|
|||
Tax
effect
|
3,282
|
1,460
|
|||||
Total
comprehensive income
|
$
|
21,704
|
$
|
21,837
|
Three
months ended June 30,
|
Six
months ended June 30,
|
||||||||||||
(in
thousands, except per share data)
|
2006
|
2005
|
2006
|
2005
|
|||||||||
Net
income
|
$
|
13,761
|
$
|
12,349
|
$
|
26,627
|
$
|
24,027
|
|||||
Average
shares outstanding
|
17,719
|
17,268
|
17,860
|
16,938
|
|||||||||
Effect
of dilutive securities:
|
|||||||||||||
Employee
stock options
|
53
|
209
|
57
|
208
|
|||||||||
Shares
for diluted earnings per share
|
17,772
|
17,477
|
17,917
|
17,146
|
|||||||||
Basic
earnings per share
|
$
|
0.78
|
$
|
0.72
|
$
|
1.49
|
$
|
1.42
|
|||||
Diluted
earnings per share
|
$
|
0.77
|
$
|
0.71
|
$
|
1.49
|
$
|
1.40
|
Six
months ended June 30,
|
|||||||||||||||||||
2006
|
2005
|
||||||||||||||||||
Average
|
Yield/
|
Average
|
Yield/
|
||||||||||||||||
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
||||||||||||||
Assets
|
|||||||||||||||||||
Loan
portfolio (1):
|
|||||||||||||||||||
Residential
real estate
|
$
|
594,954
|
$
|
16,864
|
5.72
|
%
|
$
|
494,968
|
$
|
13,809
|
5.63
|
%
|
|||||||
Home
equity
|
305,787
|
11,556
|
7.62
|
305,410
|
8,876
|
5.86
|
|||||||||||||
Commercial
financial and agriculture
|
643,420
|
23,385
|
7.33
|
511,674
|
15,241
|
6.01
|
|||||||||||||
Installment
loans to individuals
|
52,691
|
2,993
|
11.52
|
49,249
|
2,870
|
11.75
|
|||||||||||||
Previously
securitized loans
|
26,037
|
5,217
|
40.41
|
50,230
|
5,917
|
23.75
|
|||||||||||||
Total
loans
|
1,622,889
|
60,015
|
7.46
|
1,411,531
|
46,713
|
6.67
|
|||||||||||||
Securities:
|
|||||||||||||||||||
Taxable
|
576,640
|
14,748
|
5.16
|
651,275
|
15,328
|
4.75
|
|||||||||||||
Tax-exempt
(2)
|
43,843
|
1,418
|
6.52
|
39,269
|
1,357
|
6.97
|
|||||||||||||
Total
securities
|
620,483
|
16,166
|
5.25
|
690,544
|
16,685
|
4.87
|
|||||||||||||
Loans
held for sale
|
3,218
|
200
|
12.53
|
-
|
-
|
-
|
|||||||||||||
Deposits
in depository institutions
|
24,490
|
566
|
4.66
|
4,391
|
42
|
1.93
|
|||||||||||||
Federal
funds sold
|
-
|
-
|
-
|
290
|
4
|
2.78
|
|||||||||||||
Total
interest-earning assets
|
2,271,080
|
76,947
|
6.83
|
2,106,756
|
63,444
|
6.07
|
|||||||||||||
Cash
and due from banks
|
51,726
|
41,063
|
|||||||||||||||||
Bank
premises and equipment
|
42,575
|
36,229
|
|||||||||||||||||
Other
assets
|
169,162
|
123,538
|
|||||||||||||||||
Less:
allowance for loan losses
|
(16,881
|
)
|
(17,485
|
)
|
|||||||||||||||
Total
assets
|
$
|
2,517,662
|
$
|
2,290,101
|
|||||||||||||||
Liabilities
|
|||||||||||||||||||
Interest-bearing
demand deposits
|
$
|
441,474
|
$
|
2,588
|
1.18
|
%
|
$
|
421,005
|
$
|
1,561
|
0.75
|
%
|
|||||||
Savings
deposits
|
312,542
|
1,658
|
1.07
|
284,281
|
823
|
0.58
|
|||||||||||||
Time
deposits
|
848,306
|
15,474
|
3.68
|
685,619
|
10,089
|
2.97
|
|||||||||||||
Short-term
borrowings
|
156,431
|
2,452
|
3.16
|
151,158
|
1,364
|
1.82
|
|||||||||||||
Long-term
debt
|
93,773
|
2,499
|
5.37
|
151,796
|
3,247
|
4.31
|
|||||||||||||
Total
interest-bearing liabilities
|
1,852,526
|
24,671
|
2.69
|
1,693,859
|
17,084
|
2.03
|
|||||||||||||
Noninterest-bearing
demand deposits
|
342,298
|
331,046
|
|||||||||||||||||
Other
liabilities
|
28,544
|
28,522
|
|||||||||||||||||
Stockholders’
equity
|
294,294
|
236,674
|
|||||||||||||||||
Total
liabilities and stockholders’ equity
|
$
|
2,517,662
|
$
|
2,290,101
|
|||||||||||||||
Net
interest income
|
$
|
52,276
|
$
|
46,360
|
|||||||||||||||
Net
yield on earning assets
|
4.64
|
%
|
4.44
|
%
|
(1) |
For
purposes of this table, non-accruing loans have been included in
average
balances and loan fees, which are immaterial, have been included
in
interest income.
|
(2) |
Computed
on a fully federal tax-equivalent basis assuming a tax rate of
approximately 35%.
|
Six
months ended June 30,
|
||||||||||
2006
vs. 2005
|
||||||||||
Increase
(Decrease)
|
||||||||||
Due
to Change In:
|
||||||||||
Volume
|
Rate
|
Net
|
||||||||
Interest-earning
assets:
|
||||||||||
Loan
portfolio
|
||||||||||
Residential
real estate
|
$
|
2,789
|
$
|
266
|
$
|
3,055
|
||||
Home
equity
|
11
|
2,669
|
2,680
|
|||||||
Commercial,
financial, and agriculture
|
3,924
|
4,220
|
8,144
|
|||||||
Installment
loans to individuals
|
201
|
(78
|
)
|
123
|
||||||
Previously
securitized loans
|
(2,850
|
)
|
2,150
|
(700
|
)
|
|||||
Total
loans
|
4,075
|
9,227
|
13,302
|
|||||||
Securities:
|
||||||||||
Taxable
|
(1,757
|
)
|
1,177
|
(580
|
)
|
|||||
Tax-exempt
(1)
|
158
|
(97
|
)
|
61
|
||||||
Total
securities
|
(1,599
|
)
|
1,080
|
(519
|
)
|
|||||
Loans
held for sale
|
200
|
-
|
200
|
|||||||
Deposits
in depository institutions
|
192
|
332
|
524
|
|||||||
Federal
funds sold
|
(4
|
)
|
-
|
(4
|
)
|
|||||
Total
interest-earning assets
|
$
|
2,864
|
$
|
10,639
|
$
|
13,503
|
||||
Interest-bearing
liabilities:
|
||||||||||
Demand
deposits
|
$
|
76
|
$
|
951
|
$
|
1,027
|
||||
Savings
deposits
|
82
|
753
|
835
|
|||||||
Time
deposits
|
2,394
|
2,991
|
5,385
|
|||||||
Short-term
borrowings
|
48
|
1,040
|
1,088
|
|||||||
Long-term
debt
|
(1,241
|
)
|
493
|
(748
|
)
|
|||||
Total
interest-bearing liabilities
|
$
|
1,359
|
$
|
6,228
|
$
|
7,587
|
||||
Net
Interest Income
|
$
|
1,505
|
$
|
4,411
|
$
|
5,916
|
Three
months ended June 30,
|
|||||||||||||||||||
2006
|
2005
|
||||||||||||||||||
Average
|
Yield/
|
Average
|
Yield/
|
||||||||||||||||
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
||||||||||||||
Assets
|
|||||||||||||||||||
Loan
portfolio (3):
|
|||||||||||||||||||
Residential
real estate
|
$
|
596,758
|
$
|
8,484
|
5.70
|
%
|
$
|
523,607
|
$
|
7,290
|
5.58
|
%
|
|||||||
Home
equity
|
309,270
|
5,962
|
7.73
|
304,475
|
4,602
|
6.06
|
|||||||||||||
Commercial
financial and agriculture
|
651,501
|
12,092
|
7.44
|
545,511
|
8,258
|
6.07
|
|||||||||||||
Installment
loans to individuals
|
48,880
|
1,400
|
11.49
|
54,704
|
1,537
|
11.27
|
|||||||||||||
Previously
securitized loans
|
24,045
|
2,513
|
41.92
|
45,583
|
2,836
|
24.95
|
|||||||||||||
Total
loans
|
1,630,454
|
30,451
|
7.49
|
1,473,880
|
24,523
|
6.67
|
|||||||||||||
Securities:
|
|||||||||||||||||||
Taxable
|
579,058
|
7,489
|
5.19
|
645,375
|
7,682
|
4.77
|
|||||||||||||
Tax-exempt
(4)
|
43,388
|
700
|
6.47
|
41,209
|
688
|
6.70
|
|||||||||||||
Total
securities
|
622,446
|
8,189
|
5.28
|
686,584
|
8,370
|
4.89
|
|||||||||||||
Loans
held for sale
|
6,400
|
200
|
12.53
|
-
|
-
|
-
|
|||||||||||||
Deposits
in depository institutions
|
33,986
|
416
|
4.91
|
5,061
|
24
|
1.90
|
|||||||||||||
Total
interest-earning assets
|
2,293,286
|
39,256
|
6.87
|
2,165,525
|
32,917
|
6.10
|
|||||||||||||
Cash
and due from banks
|
50,217
|
38,292
|
|||||||||||||||||
Bank
premises and equipment
|
42,621
|
38,104
|
|||||||||||||||||
Other
assets
|
170,273
|
140,301
|
|||||||||||||||||
Less:
allowance for loan losses
|
(16,911
|
)
|
(17,489
|
)
|
|||||||||||||||
Total
assets
|
$
|
2,539,486
|
$
|
2,364,733
|
|||||||||||||||
Liabilities
|
|||||||||||||||||||
Interest-bearing
demand deposits
|
$
|
438,851
|
$
|
1,329
|
1.21
|
%
|
$
|
428,700
|
$
|
845
|
0.79
|
%
|
|||||||
Savings
deposits
|
318,702
|
926
|
1.17
|
291,368
|
468
|
0.64
|
|||||||||||||
Time
deposits
|
865,554
|
8,265
|
3.83
|
713,383
|
5,292
|
2.98
|
|||||||||||||
Short-term
borrowings
|
161,082
|
1,326
|
3.30
|
158,170
|
787
|
2.00
|
|||||||||||||
Long-term
debt
|
92,267
|
1,239
|
5.39
|
154,723
|
1,662
|
4.31
|
|||||||||||||
Total
interest-bearing liabilities
|
1,876,456
|
13,085
|
2.80
|
1,746,344
|
9,054
|
2.08
|
|||||||||||||
Noninterest-bearing
demand deposits
|
342,115
|
340,340
|
|||||||||||||||||
Other
liabilities
|
28,526
|
28,098
|
|||||||||||||||||
Stockholders’
equity
|
292,389
|
249,951
|
|||||||||||||||||
Total
liabilities and stockholders’ equity
|
$
|
2,539,486
|
$
|
2,364,733
|
|||||||||||||||
Net
interest income
|
$
|
26,171
|
$
|
23,863
|
|||||||||||||||
Net
yield on earning assets
|
4.58
|
%
|
4.42
|
%
|
(3) |
For
purposes of this table, non-accruing loans have been included in
average
balances and loan fees, which are immaterial, have been included
in
interest income.
|
(4) |
Computed
on a fully federal tax-equivalent basis assuming a tax rate of
approximately 35%.
|
Three
months ended June 30,
|
||||||||||
2006
vs. 2005
|
||||||||||
Increase
(Decrease)
|
||||||||||
Due
to Change In:
|
||||||||||
Volume
|
Rate
|
Net
|
||||||||
Interest-earning
assets:
|
||||||||||
Loan
portfolio
|
||||||||||
Residential
real estate
|
$
|
1,018
|
$
|
176
|
$
|
1,194
|
||||
Home
equity
|
72
|
1,288
|
1,360
|
|||||||
Commercial,
financial, and agriculture
|
1,604
|
2,230
|
3,834
|
|||||||
Installment
loans to individuals
|
(164
|
)
|
27
|
(137
|
) | |||||
Previously
securitized loans
|
(1,340
|
)
|
1,017
|
(323
|
)
|
|||||
Total
loans
|
1,190
|
4,738
|
5,928
|
|||||||
Securities:
|
||||||||||
Taxable
|
(789
|
)
|
596
|
(193
|
)
|
|||||
Tax-exempt
(1)
|
36
|
(24
|
)
|
12
|
||||||
Total
securities
|
(753
|
)
|
572
|
(181
|
)
|
|||||
Loans
held for sale
|
200
|
-
|
200
|
|||||||
Deposits
in depository institutions
|
137
|
255
|
392
|
|||||||
Total
interest-earning assets
|
$
|
774
|
$
|
5,565
|
$
|
6,339
|
||||
Interest-bearing
liabilities:
|
||||||||||
Demand
deposits
|
$
|
20
|
$
|
464
|
$
|
484
|
||||
Savings
deposits
|
44
|
414
|
458
|
|||||||
Time
deposits
|
1,129
|
1,844
|
2,973
|
|||||||
Short-term
borrowings
|
14
|
525
|
539
|
|||||||
Long-term
debt
|
(671
|
)
|
248
|
(423
|
)
|
|||||
Total
interest-bearing liabilities
|
$
|
536
|
$
|
3,495
|
$
|
4,031
|
||||
Net
Interest Income
|
$
|
238
|
$
|
2,070
|
$
|
2,308
|
Table
Five
|
||||||||||
Analysis
of the Allowance for Loan Losses
|
||||||||||
Six
months ended June 30,
|
Year
ended December 31,
|
|||||||||
(in
thousands)
|
2006
|
2005
|
2005
|
|||||||
Balance
at beginning of period
|
$
|
16,790
|
$
|
17,815
|
$
|
17,815
|
||||
Allowance
from acquisition
|
-
|
3,265
|
3,265
|
|||||||
Reduction
of allowance for loans held for sale
|
(1,368
|
)
|
-
|
-
|
||||||
Charge-offs:
|
||||||||||
Commercial,
financial, and agricultural
|
(228
|
)
|
(1,092
|
)
|
(1,673
|
)
|
||||
Real
estate-mortgage
|
(528
|
)
|
(981
|
)
|
(1,491
|
)
|
||||
Installment
loans to individuals
|
(607
|
)
|
(571
|
)
|
(1,711
|
)
|
||||
Overdraft
deposit accounts
|
(1,913
|
)
|
(1,576
|
)
|
(3,584
|
)
|
||||
Total
charge-offs
|
(3,276
|
)
|
(4,220
|
)
|
(8,459
|
)
|
||||
Recoveries:
|
||||||||||
Commercial,
financial, and agricultural
|
65
|
440
|
605
|
|||||||
Real
estate-mortgage
|
161
|
62
|
303
|
|||||||
Installment
loans to individuals
|
349
|
380
|
679
|
|||||||
Overdraft
deposit accounts
|
872
|
556
|
1,182
|
|||||||
Total
recoveries
|
1,447
|
1,438
|
2,769
|
|||||||
Net
charge-offs
|
(1,829
|
)
|
(2,782
|
)
|
(5,690
|
)
|
||||
Provision
for loan losses
|
1,675
|
-
|
1,400
|
|||||||
Balance
at end of period
|
$
|
15,268
|
$
|
18,298
|
$
|
16,790
|
||||
As
a Percent of Average Total Loans:
|
||||||||||
Net
charge-offs (annualized)
|
(0.22
|
)%
|
(0.39
|
)%
|
(0.38
|
)%
|
||||
Provision
for loan losses (annualized)
|
0.21
|
%
|
-
|
0.09
|
%
|
|||||
As
a Percent of Non-Performing Loans:
|
||||||||||
Allowance
for loan losses
|
408.02
|
%
|
463.95
|
%
|
401.96
|
%
|
Table
Six
|
||||||||||
Non-Performing
Assets
|
||||||||||
As
of June 30,
|
As
of
December
31,
|
|||||||||
(in
thousands)
|
2006
|
2005
|
2005
|
|||||||
Non-accrual
loans
|
$
|
3,046
|
$
|
2,709
|
$
|
2,785
|
||||
Accruing
loans past due 90 days or more
|
573
|
936
|
1,124
|
|||||||
Previously
securitized loans past due 90 days or more
|
123
|
299
|
268
|
|||||||
Total
non-performing loans
|
3,742
|
3,944
|
4,177
|
|||||||
Other
real estate, excluding property associated with
previously
securitized loans
|
294
|
471
|
135
|
|||||||
Other
real estate, associated with previously
securitized
loans
|
92
|
-
|
-
|
|||||||
Total
other real estate owned
|
386
|
471
|
135
|
|||||||
Total
non-performing assets
|
$
|
4,128
|
$
|
4,415
|
$
|
4,312
|
Table
Seven
|
||||||||||
Allocation
of the Allowance For Loan Losses
|
||||||||||
As
of June 30,
|
As
of
December
31,
|
|||||||||
(in
thousands)
|
2006
|
2005
|
2005
|
|||||||
Commercial,
financial and agricultural
|
$
|
7,533
|
$
|
8,845
|
$
|
7,613
|
||||
Real
estate - mortgage
|
4,084
|
4,724
|
3,977
|
|||||||
Installment
loans to individuals
|
1,182
|
2,859
|
2,819
|
|||||||
Overdraft
deposit accounts
|
2,469
|
1,870
|
2,381
|
|||||||
Allowance
for Loan Losses
|
$
|
15,268
|
$
|
18,298
|
$
|
16,790
|
Three
months ended June 30,
|
Six
months ended June 30,
|
||||||||||||
(in
thousands)
|
2006
|
2005
|
|
2006
|
|
2005
|
|||||||
Principal
receipts
|
$
|
3,474
|
$
|
8,834
|
$
|
7,804
|
$
|
16,941
|
|||||
Interest
income receipts
|
1,440
|
2,729
|
3,003
|
5,442
|
|||||||||
Total
cash receipts
|
$
|
4,914
|
$
|
11,563
|
$
|
10,807
|
$
|
22,383
|
As
of:
|
Forecasted
Balance:
|
December
31, 2006
|
$18
million
|
December
31, 2007
|
14 million
|
December
31, 2008
|
10 million
|
December
31, 2009
|
8 million
|
Immediate
Basis
Point Change
in
Interest Rates
|
Implied
Federal Funds Rate Associated with Change in Interest
Rates
|
Estimated
Increase
(Decrease)
in
Net
Income Over 12 Months
|
Estimated
Increase
(Decrease)
in
Economic
Value of
Equity
|
|||||||
June
30, 2006
:
|
||||||||||
+300
|
8.25
|
%
|
+5.8
|
%
|
+0.7
|
%
|
||||
+200
|
7.25
|
+4.1
|
+1.1
|
|||||||
+100
|
6.25
|
+1.7
|
+0.7
|
|||||||
-100
|
4.25
|
(3.2
|
)
|
(0.9
|
)
|
|||||
-200
|
3.25
|
(6.7
|
)
|
(1.9
|
)
|
|||||
|
||||||||||
December
31, 2005:
|
||||||||||
+300
|
7.25
|
%
|
+10.1
|
%
|
+2.2
|
%
|
||||
+200
|
6.25
|
+8.1
|
+2.1
|
|||||||
+100
|
5.25
|
+4.4
|
+1.4
|
|||||||
-100
|
3.25
|
(6.7
|
)
|
(3.4
|
)
|
|||||
-200
|
2.25
|
(10.0
|
)
|
(4.9
|
)
|
Actual
|
|||||||||||||
Well-
|
June
30,
|
December
31,
|
|||||||||||
Minimum
|
Capitalized
|
2006
|
2005
|
||||||||||
City
Holding:
|
|||||||||||||
Total
|
8.0
|
%
|
10.0
|
%
|
15.5
|
%
|
16.4
|
%
|
|||||
Tier
I Risk-based
|
4.0
|
6.0
|
14.6
|
15.4
|
|||||||||
Tier
I Leverage
|
4.0
|
5.0
|
10.3
|
11.0
|
|||||||||
City
National:
|
|||||||||||||
Total
|
8.0
|
%
|
10.0
|
%
|
13.5
|
%
|
14.0
|
%
|
|||||
Tier
I Risk-based
|
4.0
|
6.0
|
12.6
|
13.0
|
|||||||||
Tier
I Leverage
|
4.0
|
5.0
|
8.9
|
9.2
|
Item
1A.
|
|
|
|
||
There
have been no material changes to the factors disclosed in Item 1A.
Risk
Factors in our Annual Report on Form 10-K for the year ended December
31,
2005.
|
||
|
||
Item
2.
|
|
Period
|
Total
Number
of
Shares
Purchased
|
Average
Price
Paid
per
Share
|
Total
Number of
Shares
Purchased
as
Part of Publicly
Announced
Plans
or
Programs
(a)
|
Maximum
Number of Shares that May Yet Be Purchased Under the Plans or
Programs
|
|||||||||
April
1 - April 30, 2006
|
66,156
|
$
|
35.97
|
66,156
|
428,172
|
||||||||
May
1 - May 31, 2006
|
100,625
|
$
|
36.02
|
100,625
|
327,547
|
||||||||
June
1 - June 30, 2006
|
104,700
|
$
|
35.40
|
104,700
|
222,847
|
(a)
|
In
June 2005, the Company announced that the Board of Directors had
authorized the Company to buy back up to 1,000,000 shares of its
common
stock, in open market transactions at prices that are accretive to
continuing shareholders. No timetable was placed on the duration
of this
share repurchase program.
|
3.1
|
||
|
31(a)
|
|
|
31(b)
|
|
32(a)
|
|
|
32(b)
|
City
Holding Company
|
|
(Registrant)
|
|
/s/
Charles R. Hageboeck
|
|
Charles
R. Hageboeck
|
|
President
and Chief Executive Officer
|
|
(Principal
Executive Officer)
|
|
/s/
David L. Bumgarner
|
|
David
L. Bumgarner
|
|
Senior
Vice President and Chief Financial Officer
|
|
(Principal
Financial Officer)
|
|
/s/ Charles R. Hageboeck | |
Charles R. Hageboeck | President & CEO |
(b) |
4,682,695
(70.30%) of the outstanding shares of City Holding Common Stock were
voted
for the Plan of Merger, which was sufficient for approval, 28,097 (.43%)
shares were voted against
and
32,921 (.49%) shares abstained.
|
KEN
HECHLER
|
STATE
SEAL OF WEST VIRGINIA
|
FILE
IN DUPLICATE ORIGINALS
|
|
Secretary
of State
|
[Graphic
Omitted]
|
FEE:
$ 5.00
|
|
State
Capitol, W 139
|
|||
Charleston,
WV 25305
|
|||
(304)
342-8000
|
FILED
|
February
20, 1997
|
IN
THE OFFICE OF
|
SECRETARY
OF STATE
|
WEST
VIRGINIA
|
January
17, 1997
|
|
Date
|
City
Holding Company
|
True
name of corporation, association or limited partnership
|
3601
MacCorkle Avenue, S.E.
|
Address
of principal office
|
Charleston
|
West
Virginia
|
25304
|
City
|
State
|
Zip
|
City
Mortgage Services
|
Assumed
Name
|
3601
MacCorkle Avenue, S.E.
|
Address
|
Charleston
|
West
Virginia
|
25304
|
|
City
|
County
|
State
|
Zip
|
/s/
Matthew B. Call
|
/s/
F. Eric Nelson, Jr.
|
|
Vice
President
|
Treasurer
|
VI. |
The
company shall have the authority to issue 500,000 shares of preferred
stock of a par value of $25 per share and 20,000,000 shares of common
stock of a par value of $2.50 per share.
|
1. |
These
Articles of Merger are submitted pursuant to Section 31-1-119 of the
West
Virginia Code.
|
(e) |
Liquidation,
Dissolution or Winding Up.
|
KEN
HECHLER
|
STATE
SEAL OF WEST VIRGINIA
|
FILE
IN DUPLICATE ORIGINALS
|
|
Secretary
of State
|
|
FEE:
$ 5.00
|
|
State
Capitol, W 139
|
|||
Charleston,
WV 25305
|
|||
(304)
342-8000
|
FILED
|
[illegible]
|
IN
THE OFFICE OF
|
SECRETARY
OF STATE
|
WEST
VIRGINIA
|
CLASS
|
Number
of Shares
|
CLASS
|
Number
of Shares Voted
|
|
For
|
Against
|
|
City Holding Company | |
Corporate
Name
|
||
By:
|
/s/
James L. Burns
|
|
Its
President
|
||
and
|
/s/
Otis L. O’Connor
|
|
Its Secretary
|
/s/
Brenda Sutphin
|
|
Notary
Public
|
My
Commission Expires:
|
August
16, 1993
|
|
(NOTARIAL
SEAL)
|
[Graphic
Omitted]
|
Notes
|
1.
|
Change
to “board of directors” if no shares have been issued.
|
Name
|
Otis
L. O’Connor,
Attorney
at Law
|
Address
|
P.O.
Box 1588
|
Charleston,
WV 25326
|
[illegible]
|
[illegible]
|
|
Articles
filed in Duplicate Originals
|
[illegible]
|
|
Certificate
Fee: $5.00
|
[illegible]
|
|
License
Tax:_____
|
CLASS
|
Number
of Shares
|
CLASS
|
Number
of Shares Voted
|
|
For
|
Against
|
|
City Holding Company (Note 4) | |
By:
|
/s/
James L. Burns
|
|
Its
President
|
||
and
|
/s/
Otis L. O'Connor
|
|
Its
Secretary
|
/s/
Brenda Sutphin
|
|
Notary
Public
|
Commission
Expires:
|
August
16, 1993
|
|
(NOTARIAL
SEAL)
|
[Graphic
Omitted]
|
Notes
|
1.
|
Change
to “board of directors” if no shares have been issued.
|
2.
|
If
inapplicable omit.
|
3.
|
This
article may be omitted if the subject matter is set forth in the
amendment
or if it is inapplicable.
|
4.
|
Exact
corporate name of corporation adopting the Articles of
Amendment
|
5.
|
Signatures
and titles of officers signing for the corporation
|
6.
|
This
articles of amendment to the articles of incorporation must be
filed in
duplicate.
|
Name
|
Otis
L. O’Connor, Attorney at Law
|
Address
|
P.O.
Box 1588
|
Charleston,
WV 25326
|
[illegible]
|
[illegible]
|
|
Articles
filed in Duplicate Originals
|
[illegible]
|
|
Certificate
Fee: $5.00
|
[illegible]
|
|
License
tax:________
|
CLASS
|
Number
of Shares
|
CLASS
|
Number
of Shares Voted
|
|
For
|
Against
|
|
City
Holding Company (Note 4)
|
|
By:
|
/s/
James L. Burns
|
|
Its President
|
||
and
|
/s/
Otis L. O'Connor
|
|
Its
Secretary
|
/s/
Brenda Sutphin
|
|
Notary
Public
|
Commission
Expires:
|
August
16, 1993
|
|
(NOTARIAL
SEAL)
|
[Graphic
Omitted]
|
Notes
|
1.
|
Change
to “board of directors” if no shares have been issued.
|
2.
|
If
inapplicable omit.
|
3.
|
This
article may be omitted if the subject matter is set forth in the
amendment
or if it is inapplicable.
|
4.
|
Exact
corporate name of corporation adopting the Articles of
Amendment
|
5.
|
Signatures
and titles of officers signing for the corporation
|
6.
|
This
articles of amendment to the articles of incorporation must be
filed in
duplicate.
|
RESOLVED,
that Article VI of the Articles of Incorporation of City Holding
Company
shall be amended to state as
follows:
|
This
instrument was presented to the Clerk of the County Commission of
Kanawha
County, West Virginia, on March 9, 1984, and the same is admitted
to
record.
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NAME
|
ADDRESS
|
Paul
R. Anderson, Sr.
|
5214
Virginia Avenue, S.E.
Charleston,
West Virginia
|
G.
V. Brown
|
5314
Kanawha Avenue, S.E.
Charleston,
West Virginia
|
James
L. Burns
|
Imperial
Towers
Charleston,
West Virginia
|
W.
S. Endres
|
919
Ridgeway Road
Charleston,
West Virginia
|
Charles
R. Hooten, Jr.
|
1220
Woodland Drive
Charleston,
West Virginia
|
Richard
T. Hoylman
|
3812
MacCorkle Avenue, S.E.
Charleston,
West Virginia
|
J.
C. Jefferds, III
|
229
Hayes Avenue
Charleston,
West Virginia
|
Dewey
E. S. Kuhns
|
4007
Virginia Avenue, S.E.
Charleston,
West Virginia
|
J.
Richard McCormick
|
735
Chappell Road
Charleston,
West Virginia
|
Thomas
N. McJunkin
|
1855
Louden Heights Road
Charleston,
West Virginia
|
Otis
L. O’Connor
|
890
Chester Road
Charleston.
West Virginia
|
Robert
L. Peden
|
4107
Virginia Avenue
Charleston,
West Virginia
|
Mark
H. Schaul
|
1551
Hampton Road
Charleston,
West Virginia
|
Jon
W. Watkins
|
1400
Viewmont Drive
Charleston,
West Virginia
|
This
instrument was presented to the Clerk of the County Commission of
Kanawha
County, West Virginia, on March 15, 1982, and the same is admitted
to
record.
|
1.
|
I
have reviewed this Quarterly Report on Form 10-Q for the quarter
ended
June 30, 2006 of City Holding Company;
|
3.
|
Based
on my knowledge, the financial statements, and other financial information
included in this report, fairly present in all material respects
the
financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;
|
4.
|
The
registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as
defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal
control over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the registrant and have:
|
/s/
Charles R. Hageboeck
|
|
Charles
R. Hageboeck
|
|
President
and Chief Executive Officer
|
/s/
David L. Bumgarner
|
|
David
L. Bumgarner
|
|
Senior
Vice President and Chief Financial
Officer
|
/s/
Charles R. Hageboeck
|
|
Charles
R. Hageboeck
|
|
President
and Chief Executive Officer
|
/s/
David L. Bumgarner
|
|
David
L. Bumgarner
|
|
Senior
Vice President and Chief Financial
Officer
|