City Holding Company (CHCO): Business Model Canvas [Dec-2025 Updated]

You're looking for the real mechanics behind City Holding Company's (CHCO) performance as we head into late 2025, and honestly, it's a solid regional play built on capital strength and local expertise. We've mapped out exactly how they create value, from their 97 physical branches across West Virginia, Kentucky, Virginia, and Ohio to their rock-solid financial footing-think a Common Equity Tier I ratio of 15.8% as of Q3 2025. This isn't just about deposits; it's about how they manage $641 million in tangible equity while keeping costs tight with a 46% efficiency ratio, all while serving everyone from small businesses to high-net-worth clients. Dive into the full Business Model Canvas below to see the precise partnerships and activities driving their $81.26 million total revenue for the quarter.

City Holding Company (CHCO) - Canvas Business Model: Key Partnerships

You're looking at the external relationships City Holding Company (CHCO) relies on to run its operations as of late 2025. These aren't just casual contacts; they are critical dependencies for technology, funding, and transaction processing.

Technology vendors for digital banking platforms and security

City Holding Company explicitly states its business is highly dependent on third-party vendors for core functions. This includes systems for information technology, telecommunication, payment processing, and mobile/online banking. The failure of any critical vendor providing core banking or information services could materially affect operations.

• Reliance on vendors for secure processing, storage, and transmission of transactions.
• Difficulty in timely replacement of critical third-party vendors.

The scale of the operation supported by these vendors is significant; as of June 30, 2025, City Holding Company reported total assets of approximately $6.6 billion.

Correspondent banks for interbank services and liquidity

Interbank relationships are vital for managing liquidity and executing transactions outside City National Bank's immediate footprint. These partners support the bank's ability to meet funding needs and manage its balance sheet effectively.

City Holding Company maintained strong capital buffers as of March 31, 2025, which underpins its standing with correspondent partners. For instance, its Leverage Ratio stood at 9.2%, and its Total Risk-Based Capital ratio was 14.9%, both significantly above the levels required to be designated "well capitalized."

Third-party vendors for merchant and consumer credit card processing

City Holding Company offers both consumer credit cards and treasury management services that include merchant services for business clients. These offerings require deep integration with external payment processors and acquirers to handle transaction authorization, clearing, and settlement.

The company's Q3 CY2025 revenue was reported at $81.26 million, a figure that includes fee income derived from these payment-related services.

Independent Registered Public Accounting Firm (Crowe LLP for 2025)

The ratification of the external auditor is a formal, required partnership that ensures independent oversight of financial reporting. Shareholders ratified the appointment of Crowe LLP as the independent registered public accounting firm for City Holding Company for the 2025 fiscal year at the April 30, 2025, Annual Meeting.

Secondary market partners for mortgage loan sales

To manage its loan portfolio and maintain liquidity, City Holding Company partners in the secondary market for the sale of originated loans. The loan portfolio is a major asset, totaling $4.34 billion at June 30, 2025. Residential real estate loans form a key component of this book.

For the quarter ended June 30, 2025, residential real estate loans increased by $42.6 million (a 2.3% increase from March 31, 2025), representing new production that often feeds into the secondary market.

Here's a quick look at the financial context these partnerships support, based on mid-2025 reporting:

Metric	Value (Date/Period)
Total Assets	$6.6 billion (Q2 2025)
Total Loans	$4.34 billion (June 30, 2025)
Net Interest Margin	3.95% (Q2 2025)
Nonperforming Assets to Total Loans	0.33% (June 30, 2025)
Q3 CY2025 Revenue	$81.26 million
Tangible Book Value per Share	$44.19 (Q3 CY2025)

The effectiveness of these external relationships directly impacts the reported Net Interest Income, which reached $58.9 million in Q2 2025, up 5.6% from the prior quarter.

Finance: draft a risk matrix for Tier 1 technology vendors by next Tuesday.

City Holding Company (CHCO) - Canvas Business Model: Key Activities

You're looking at the core engine of City Holding Company (CHCO), the activities that actually generate that record net income of $35.2 million in the third quarter of 2025. Honestly, for a regional bank, it all boils down to managing the balance sheet and the customer relationship across a specific footprint.

Commercial and consumer loan origination and servicing

This is the primary financial engine, as Net Interest Income (NII) made up about 72.7% of total revenue over the last five years, and it grew to $61.11 million in Q3 2025. Origination activity was strong, pushing gross loans up by $73.6 million, or 1.7%, from June 30, 2025, to reach $4.41 billion as of September 30, 2025. Servicing involves managing the quality of that portfolio, which is reflected in the stable credit quality metrics.

Here's a quick look at the loan growth drivers for the third quarter of 2025:

• Commercial and industrial loans increased by $17.3 million (4.2%).
• Residential real estate loans grew by $25.3 million (1.3%).
• Commercial real estate loans saw an increase of $24.1 million (1.4%).
• Home equity loans rose by $10.8 million (5.2%).

Deposit gathering and liability management

Gathering core deposits is crucial to funding that loan book without relying too heavily on more expensive wholesale funding. City Holding Company (CHCO) maintains a core retail orientation in its deposit base. As of September 30, 2025, the deposit mix showed that checking and saving accounts funded 58.7% of assets, while time deposits funded 19.5% of assets. Total average depository balances remained flat from the second quarter of 2025 to the third quarter of 2025. Effective liability management is seen in the Net Interest Margin (NIM), which improved to 4.04% in Q3 2025 from 3.95% in Q2 2025.

Wealth management, trust, and investment advisory services

While lending is the main driver, fee-based income from these services provides important diversification. City Holding Company (CHCO) offers wealth management, trust, and investment advisory services to both commercial and individual customers. The importance of this segment is visible in the non-interest income figures; for instance, in Q1 2025, non-interest income rose by 3.5%, partly due to higher wealth and investment management fees.

Regulatory compliance and risk management

Maintaining a strong balance sheet and adhering to regulations is a non-negotiable activity. City Holding Company (CHCO) remains strongly capitalized, with a tangible equity ratio of 9.8% at September 30, 2025. Risk management is evidenced by the credit quality metrics. The ratio of nonperforming assets to total loans and other real estate owned was 0.32% at September 30, 2025, which is a slight improvement from 0.33% at June 30, 2025. The total amount of nonperforming assets stood at $14.3 million at the end of Q3 2025.

Managing 96 physical branch locations and digital channels

The company serves its communities through a physical network combined with modern digital access. As of Q3 2025, City Holding Company (CHCO) operates 96 branches across West Virginia, southwestern Pennsylvania, eastern Ohio, and western Maryland. This physical presence is complemented by digital channels, including mobile banking and internet platforms.

You can see the scale of the balance sheet supporting these activities in the table below, based on the Q3 2025 report:

Metric	Value as of September 30, 2025	Comparison Point (June 30, 2025)
Total Assets	$6.7 billion	$6.6 billion
Gross Loans	$4.41 billion	$4.34 billion
Net Interest Margin (NIM)	4.04%	3.95%
Nonperforming Assets Ratio	0.32%	0.33%
Tangible Equity Ratio	9.8%	9.4%
Checking/Savings as % of Assets	58.7%	60.0%

The efficiency ratio was reported at 46% for Q3 2025, beating analyst estimates of 49.3%. That's a clear sign of effective activity management.

City Holding Company (CHCO) - Canvas Business Model: Key Resources

You're looking at the bedrock of City Holding Company's operations, the tangible and intangible assets that let them execute their community banking strategy. These aren't just numbers on a spreadsheet; they represent the stability and reach that defines their value proposition in the markets they serve.

The financial strength underpinning City Holding Company is quite evident in its capital position as of the third quarter of 2025. This is the buffer that allows for lending and weathering any economic bumps. You see this in the regulatory ratios, which are well above the threshold to be deemed "well capitalized."

Here are the core financial and physical assets that make up the Key Resources:

• Strong capital base with a Common Equity Tier I ratio of 15.8% (Q3 2025)
• Tangible equity of $641 million as of September 30, 2025
• Network of 97 branches across four states (WV, KY, VA, OH)
• Core deposit base, with checking/savings funding 58.7% of assets
• 941 full-time equivalent associates providing local expertise

The quality of the balance sheet as of September 30, 2025, shows management's focus on stable funding and profitability. For instance, the return on tangible equity hit 22.5% for the quarter, which is a solid indicator of how effectively they are deploying that tangible equity base. Also, the company reported record quarterly net income of $35.2 million for the same period.

The deposit structure is a critical resource, showing a deep connection to the local retail customer base. This low-cost funding source is what keeps the Net Interest Margin healthy. Here's a look at how the funding stack looked at the end of Q3 2025:

Funding Source Metric	Value as of September 30, 2025
Checking/Savings Funding of Assets	58.7%
Time Deposits Funding of Assets	19.5%
Gross Loan to Deposit Ratio	83.9%
Investment Securities as % of Assets	23.1%

The physical footprint and the human capital are inseparable resources for a community bank. The physical network provides the access points, while the associates deliver the relationship banking that drives customer loyalty. The geographic spread across West Virginia, Kentucky, Virginia, and Ohio supports their regional focus.

Consider the scale of the human capital supporting these operations:

• Total full-time equivalent associates: 941
• Reported net income for Q3 2025: $35.2 million
• Return on Assets (ROA) for Q3 2025: 2.11%
• Reported diluted earnings per share (EPS) for Q3 2025: $2.41

The physical presence is substantial, though the exact branch count has seen minor fluctuations; the figure of 97 branches represents the intended scale of their physical touchpoints across the four states.

Finance: review the Q4 2025 budget allocation for associate training by end of day Tuesday.

City Holding Company (CHCO) - Canvas Business Model: Value Propositions

You're looking at City Holding Company (CHCO) as of late 2025, and the value proposition is clearly rooted in stability and superior execution within its regional footprint. This isn't a high-growth story in the tech sense, but a story of consistent, high-quality banking performance that the market seems to recognize by assigning it a premium valuation.

Comprehensive financial solutions for individuals and businesses is the core offering, spanning Commercial Banking, Consumer Banking, Mortgage Banking, and Wealth Management and Trust Services. The balance sheet as of September 30, 2025, reflected a bank holding company with total assets of approximately $6.7 billion. The funding base is heavily weighted toward core deposits, with checking and saving accounts funding 58.7% of assets as of the third quarter of 2025. This deposit base, totaling about $5.26 billion in the third quarter, supports a robust loan portfolio. The gross loan to deposit ratio stood at 83.9%, indicating active deployment of core funding into earning assets.

The status as a high-quality, stable regional bank is backed by impressive profitability and credit metrics. For the quarter ended September 30, 2025, City Holding Company reported record quarterly net income of $35.2 million, translating to diluted earnings per share of $2.41. The Return on Assets (ROA) for that quarter hit 2.11%, and the Return on Tangible Equity (ROTE) was an exceptional 22.5%. Superior asset quality is evident in the nonperforming assets ratio, which stood at just 0.32% of total loans and other real estate owned as of September 30, 2025. That's an improvement from 0.35% at the end of the prior year. Low risk is the name of the game here.

The localized service model with deep regional market presence is the engine for this stability. Headquartered in Charleston, West Virginia, the bank's strategy relies on cultivating strong customer relationships to ensure that steady inflow of deposits. The loan to asset ratio was 66.2%, and investment securities made up 23.1% of total assets as of September 30, 2025. This balance between lending and holding high-quality securities is a hallmark of a prudent regional player.

While specific Assets Under Management (AUM) for the full suite of wealth management and trust services aren't explicitly detailed in the latest reports, the service line is a stated component of City National's offerings, complementing the core lending and deposit-taking business. This diversification provides non-interest income streams that offer financial buoyancy.

The strong regulatory capital position, exceeding well-capitalized requirements, provides a significant buffer. As of September 30, 2025, the company reported tangible equity of $641 million, pushing the Tangible Equity Ratio to 9.8%, up from 9.1% at the end of 2024. You can see the strength clearly in the regulatory ratios, which are all well above the threshold for the highest regulatory designation. Here's the quick math on those capital levels:

Capital Metric (as of 9/30/2025)	Ratio	Status
Leverage Ratio	10.2%	Significantly above well-capitalized minimums
Common Equity Tier I Ratio	15.8%	Significantly above well-capitalized minimums
Tier I Capital Ratio	15.8%	Significantly above well-capitalized minimums
Total Risk-Based Capital Ratio	16.3%	Significantly above well-capitalized minimums

This robust capital structure, combined with premium profitability metrics like a TTM P/E of around 14x, suggests investors are paying up for this quality, as it trades above the peer average P/E of 12.9x. Still, the low credit risk supports that premium.

• Tangible Equity Ratio (9/30/2025): 9.8%
• Return on Assets (Q3 2025): 2.11%
• Nonperforming Assets to Loans (9/30/2025): 0.32%
• Total Assets (9/30/2025): $6.7 billion

What this estimate hides is the potential impact of any near-term regional economic slowdown on loan growth, but for now, the capital position is defintely a key value driver.

City Holding Company (CHCO) - Canvas Business Model: Customer Relationships

You're looking at how City Holding Company keeps its clients engaged, balancing the personal touch with digital efficiency across its footprint in West Virginia, Kentucky, Virginia, and Ohio.

Dedicated relationship managers for commercial and wealth clients

The focus on higher-value client segments is evident in the growth within fee-based services. Wealth and investment management fee income increased by $0.3 million, representing a 10.6% increase for the quarter ended March 31, 2025, compared to the first quarter of 2024. City Holding Company provides specialized services including investment advisory through its trust and investment management divisions. The company's total assets stood at approximately $6.6 billion as of Q1 2025, supporting a client base that requires dedicated attention for commercial banking and wealth management solutions.

The structure of client interaction can be mapped against the scale of its physical presence:

Metric	Value as of Late 2025 Data
Number of Branches Operated	97
Total Assets (Q1 2025)	$6.6 billion
Wealth/Investment Fee Income Growth (YoY Q1 2025)	10.6%

Assisted self-service via interactive-teller machines (ITMs)

While specific ITM transaction volumes for City Holding Company aren't public, the broader industry trend shows a shift toward advanced self-service. The company maintains a network of 97 branches, which typically house these advanced machines to offer extended service hours beyond standard teller windows. The reliance on physical infrastructure suggests ITMs serve as a critical bridge between full-service staff and purely digital channels for routine transactions.

Personalized service model through local branch staff

The personalized service model is supported by the company's deep regional focus, which underpins its reputation, evidenced by its ranking as #5 on Forbes' America's Best Banks list as of February 2025. The branch network of 97 locations across its operating states is the primary delivery mechanism for this localized, relationship-driven banking. The company's Cash Interest Paid as of September 30, 2025, was 88m USD, reflecting the core lending activity managed through these local relationships.

Automated digital support via mobile and internet banking platforms

City Holding Company operates within a market where digital adoption is high, driving the need for robust automated support. Industry data for 2025 shows that over 83% of U.S. adults use digital banking services. Furthermore, digital banking transactions across the industry rose by 21.5% year-over-year (YoY) in 2025. The preference for mobile is strong, with 72% of global banking customers favoring mobile apps for core services. This environment necessitates that City Holding Company's mobile and internet platforms handle the bulk of daily customer interactions, supported by AI-driven interfaces, as 71% of U.S. consumers aged 18-34 primarily manage finances digitally.

Key digital adoption indicators influencing this relationship segment include:

• U.S. Adult Digital Banking Usage (2025): Over 83%
• Digital Transaction Growth YoY (2025): 21.5%
• Global Mobile App Preference for Core Banking: 72%
• U.S. Mobile Check Deposit Usage (2025): Over 63.8% of consumers

The bank's commitment to shareholders, reflected in the increased quarterly dividend to $0.87 (annualized $3.48), is communicated through these digital channels, alongside financial performance like the Q3 2025 revenue of $81.26 million.

Finance: draft 13-week cash view by Friday.

City Holding Company (CHCO) - Canvas Business Model: Channels

You're looking at how City Holding Company (CHCO), through its subsidiary City National Bank, gets its value proposition to its customer segments. The channel strategy here is definitely a blend of traditional community banking presence and necessary digital modernization. Honestly, for a regional player, the physical footprint remains a core asset, but the digital layer is what keeps them competitive against larger institutions.

The physical network is anchored by a significant number of brick-and-mortar locations. As of the first quarter of 2025, City National operated 97 branches across West Virginia, Kentucky, Virginia, and Ohio. This physical presence is crucial for their core retail orientation and community-banking focus. To give you a sense of that physical reach, based on prior reporting, the distribution across those states looked like this, illustrating the established network City Holding Company is leveraging:

Channel Component	Metric Type	Data Point (Latest Available Context)	States of Operation
Full-Service Physical Bank Branches	Count (Q1 2025)	97	West Virginia, Kentucky, Virginia, Ohio
Total Assets (Q3 2025)	Financial Amount	Approximately $6.7 billion	N/A
Net Interest Income (Q3 2025)	Financial Amount	$61.11 million	N/A
ATM/ITM Network	Count	Data Not Explicitly Stated for 2025	Implied across operating states

The digital channels are the necessary complement to the physical locations. City Holding Company ensures customers can interact outside of branch hours through their digital offerings. This includes their mobile banking application and their internet platforms for daily transactions and account management. You can see the commitment to digital access through the readily available online banking login and enrollment features provided to customers.

For transactional access, the company deploys a network of Automated-Teller-Machines (ATMs) and Interactive-Teller Machines (ITMs). These machines extend the reach of the physical network, allowing for cash access and basic transactions beyond lobby hours. While the exact 2025 network size isn't explicitly detailed in the latest earnings releases, these devices are listed as key components of their delivery channels alongside mobile and internet banking.

For more complex, revenue-generating activities, City Holding Company relies on its specialized personnel. The direct sales force is the primary channel for originating commercial and mortgage lending business. This team interfaces directly with consumers and local businesses to structure credit products, which is a vital part of their Net Interest Income generation, which hit $61.11 million in Q3 2025.

Finally, for the investment community, the Investor Relations portal serves as the dedicated channel for communication. This portal is where stakeholders access official disclosures and updates. As of late 2025, this channel was actively used to disseminate information, including the announcement of record quarterly results in October 2025 and dividend updates in September 2025. You can find:

• Investor FAQs and Information Request Forms.
• Links to Quarterly Results and SEC Filings.
• Corporate Governance details.
• Investor Email Alerts subscription options.

Finance: draft Q4 2025 cash flow projection by next Tuesday.

City Holding Company (CHCO) - Canvas Business Model: Customer Segments

You're looking at the customer base for City Holding Company (CHCO) as of late 2025. Honestly, the numbers tell a clear story about where their focus lies, heavily weighted toward the community and local businesses across their operating footprint in West Virginia, Kentucky, Virginia, and southeastern Ohio, where City National Bank operates approximately 96 banking offices.

Core retail consumers (checking, savings, consumer loans)

This group forms the bedrock of City Holding Company's funding. Their deposit mix shows a clear preference for transactional accounts, which is a great sign of deep community ties. As of June 30, 2025, checking and saving accounts funded 60.0% of the company's total assets. Also, the retail orientation is confirmed by the fact that only 14.9% of their total time deposits were over the $250,000 threshold as of the same date. Total assets for City Holding Company stood at $6.66 Billion USD as of September 2025.

Small to mid-size industrial and commercial companies

City Holding Company serves this segment with a full suite of business banking products. They offer business checking and savings accounts, plus various business loans, including those for working capital, equipment financing, and Small Business Administration (SBA) loans. Looking at the loan growth in the first half of 2025, commercial and industrial (C&I) loans saw a decrease of $13.9 million between March 31, 2025, and June 30, 2025, following a small increase of $3.4 million in Q1 2025. The total loan portfolio was $4.34 billion at June 30, 2025.

Commercial real estate investors and developers

This is a significant lending area, focused on non-residential and multi-family properties. Commercial real estate (CRE) loans actually saw positive growth in the second quarter of 2025, increasing by $19.9 million (1.1%) from March 31, 2025, to June 30, 2025. This followed a decrease of $9.6 million in the first quarter of 2025. The company uses a robust internal risk rating system for these commercial loans, categorizing them from Exceptional down to Doubtful.

High-net-worth individuals requiring wealth and trust services

City National offers specialized wealth management, trust, and investment services to both commercial and individual customers. These services cover personal trusts, estate administration, and managing investment accounts for individuals and foundations. While specific Assets Under Management (AUM) aren't explicitly broken out, the overall company performance suggests a stable base, with Diluted EPS for the three months ended September 30, 2025, at $2.41.

Mortgage borrowers (residential and construction financing)

Residential mortgage lending remains a core activity. As of June 30, 2025, residential real estate loans grew by $42.6 million (2.3%) from the prior quarter, reaching a higher percentage of the total loan book. Home equity loans also grew by $4.7 million (2.3%) in that same period. Historically, residential mortgage and home equity loans comprised approximately 47% of the loan portfolio as of December 31, 2021, though the mix shifts annually.

Here's a quick look at the balance sheet context supporting these segments as of mid-to-late 2025:

Metric	Amount/Percentage	Date
Total Assets	$6.66 Billion USD	September 2025
Total Gross Loans	$4.34 Billion USD	June 30, 2025
Loan to Asset Ratio	65.8%	June 30, 2025
Checking/Savings Deposits as % of Assets	60.0%	June 30, 2025
Residential Real Estate Loans Growth (Q2 2025)	$42.6 Million	Q2 2025
Commercial Real Estate Loans Growth (Q2 2025)	$19.9 Million (1.1%)	Q2 2025

The company's loan-to-deposit ratio was 82.7% at the end of Q2 2025, showing they are actively deploying those retail and commercial deposits into lending assets. Also, note that Net Interest Income for the three months ended September 30, 2025, was $61.11 million, which is the primary driver from these lending and deposit relationships.

You should check the Q4 2025 10-K when it drops to see if the C&I loan decline continued or reversed. Finance: draft 13-week cash view by Friday.

City Holding Company (CHCO) - Canvas Business Model: Cost Structure

You're looking at the expense side of City Holding Company's (CHCO) operations as of late 2025. For a bank, the cost structure is dominated by interest paid out versus interest earned, plus the overhead of running a physical and digital network. Honestly, managing that interest spread is the biggest lever, but the non-interest costs show how lean the operation is running.

Interest expense on deposits and borrowed funds is the primary cost driver, though City Holding Company managed to improve its Net Interest Margin (NIM) to 4.04% in the third quarter of 2025, up from 3.95% in the second quarter of 2025. This improvement came partly from a decrease in the cost of interest-bearing liabilities, which added $0.3 million to net interest income for the quarter. The Net Interest Income itself for Q3 2025 was $61.1 million.

Personnel expenses for 941 employees and branch network are a significant fixed cost. While the latest reported employee count was 963 as of December 6, 2025, the structure is based on a headcount around 941 employees as of December 31, 2024. The cost impact is clear: salaries and employee benefits increased by $0.5 million in the third quarter of 2025 compared to the third quarter of 2024.

Occupancy and equipment costs for 97 branches and technology infrastructure reflect the physical footprint. City Holding Company operated 97 branches across West Virginia, Kentucky, Virginia, and Ohio as of March 31, 2025. Technology and equipment are embedded in non-interest expenses; for instance, equipment and software related expenses increased by $0.5 million in the first quarter of 2025 compared to the first quarter of 2024.

Provisions for credit losses show a positive swing in the third quarter of 2025. Instead of an expense, the Company recorded a recovery of credit losses of $0.5 million in Q3 2025. This compares to a provision of $1.2 million in the third quarter of 2024.

The overall cost control is evident in the efficiency metric. City Holding Company is operating efficiently with a Q3 2025 efficiency ratio of 46%. This means that for every dollar of revenue generated, only 46 cents went to cover non-interest expenses. The total non-interest expenses for Q3 2025 were $37.9 million.

Here's a quick look at the key non-interest expense drivers and efficiency for the third quarter of 2025:

Cost Component Metric	Value (Q3 2025)	Context/Period
Efficiency Ratio	46%	Q3 2025
Total Non-Interest Expenses	$37.9 million	Q3 2025
Salaries & Benefits Increase (YoY)	$0.5 million increase	Q3 2025 vs Q3 2024
Credit Loss Provision/(Recovery)	($0.5 million) recovery	Q3 2025
Branch Network Size	97	As of Q1 2025

You can see the components that make up the non-interest expense base, which the management team is clearly keeping tight:

• Salaries and employee benefits increased by $0.5 million in Q3 2025 versus the prior year period.
• Other expenses, like advertising, were lower by $0.4 million in Q3 2025 versus the prior year period.
• Equipment and software costs saw an increase of $0.5 million in Q1 2025 year-over-year.
• The Company reported 963 employees as of December 6, 2025.
• Net Interest Margin improved to 4.04% in Q3 2025.

City Holding Company (CHCO) - Canvas Business Model: Revenue Streams

You're looking at how City Holding Company (CHCO) converts its activities into cash flow as of late 2025. The core of the revenue picture is built on traditional banking spreads, supplemented by various service charges and wealth management activities.

Net Interest Income (NII) from lending operations remains the primary driver. For the quarter ended September 30, 2025, this stream was reported at \$61.11 million.

The total revenue picture for City Holding Company for the third quarter of 2025 reached \$81.26 million. This total is composed of NII and Non-interest income.

Non-interest income, which is fee-based revenue, was \$20.2 million during the quarter ended September 30, 2025. Exclusive of certain non-recurring items like unrealized fair value gains on equity securities, the consistent non-interest income base was \$20.0 million for the third quarter of 2025.

Here's a breakdown of the components contributing to the fee-based revenue streams:

• Service fees saw an increase of \$0.3 million, representing a 4.3% rise.
• Wealth and investment management fee income increased by \$0.2 million, or 5.2%.
• The TTM (Trailing Twelve Months) figure for Trust Income ending September 2025 was \$11.94 million.

City Holding Company also generates revenue through its insurance and brokerage divisions, which offer property and casualty insurance, life and health coverage, and securities brokerage services to meet broader client needs. Mortgage banking income, covering origination and servicing fees, is embedded within these non-interest income figures.

You can see the key revenue components for Q3 2025 laid out here:

Revenue Component	Amount (Millions USD)
Net Interest Income (NII)	61.11
Total Non-Interest Income	20.2
Total Revenue (Sum of above)	81.31 (Calculated based on provided NII and reported Non-Interest Income)
Reported Total Revenue (Q3 2025)	81.26

The reported total revenue of \$81.26 million for the quarter ended September 2025 surpassed the consensus estimate by 2.34%. The net interest margin for the quarter improved to 4.04% from 3.95% in the second quarter of 2025. Finance: draft 13-week cash view by Friday.