City Holding announces approval of stock repurchase plan

City Holding Company announced that the board authorized the Company to buy back up to 1,000,000 of its common shares in open market transactions at prices that are accretive to the earnings per share of continuing shareholders. Management may commence or suspend purchases at any time or from time-to-time based on market and business conditions and without prior notice. No time limit has been placed on the duration of the share repurchase program. As part of its authorization, the Company rescinded the previous share repurchase plan approved May 25, 2022. Through January 31, 2024, the Company repurchased 849,681 shares under the May 2022 plan. “As of January 31, 2024, the Company was very well capitalized and capital continues to grow due to our exceptional earnings. As a result, we view this repurchase plan as part of an ongoing strategy to build value for our stockholders while maintaining appropriate capital levels,” stated Charles R. Hageboeck, President & CEO. The Company currently has 14.8 million outstanding common shares. Repurchase of the Company’s stock is subject to availability of the stock and may be discontinued at any time.