Key Developments: City Holding Co (CHCO.O)
40.40USD
17 May 2013
$0.41 (+1.03%)
$39.99
$39.61
$40.47
$39.42
59,919
39,329
$40.47
$30.69
Latest Key Developments (Source: Significant Developments)
City Holding Co Increases Dividend On Common Shares
City Holding Co announced that it has declared a dividend of 37 cents per common share for shareholders of record as of April 15, 2013. The dividend is payable on April 30, 2013. The dividend represents a 6% increase from the 35 cents per share cash dividend paid in the first quarter of 2013. Full Article
City Holding Co Declares Dividend-Form 8-K
City Holding Co announced in its Form 8-K that it has declared a dividend of $0.35 per common share for shareholders of record as of October 15, 2012, payable on October 31, 2012. Full Article
City Holding Co. And Community Financial Corp. Announce Strategic Merger
City Holding Co. (City) and Community Financial Corp. (Community) announced the execution of a definitive agreement by City to acquire Community and its wholly owned subsidiary, Community Bank (the Merger). Community operates nine branches along the I-81 corridor in western Virginia and two branches in Virginia Beach, Virginia. The Merger will significantly expand City's presence in Virginia. City recently completed the acquisition of Virginia Savings Bank, headquartered in Front Royal, Virginia. Virginia Savings Bank had assets of $130 million while Community has assets of $500 million. City and Community anticipate the transaction will be completed in the first quarter of 2013, pending regulatory approvals, the approval of Community shareholders, and the completion of other customary closing conditions. The directors of Community have agreed to vote their shares in favor of the Merger. Under the terms of the agreement, Community shareholders will receive 0.1753 shares of City common stock for each share of Community common stock. Based upon the closing price of City's common stock on uly 27, 2012, the total value of common shares issued is estimated at $26.1 million, or $6 per share of Community. Keefe, Bruyette & Woods, Inc. served as financial advisor to City. Scott & Stringfellow, LLC served as financial advisor to Community. Jackson Kelly PLLC served as legal advisor to City. Silver, Freedman & Taff served as legal advisor to Community. Full Article
City Holding Co. Increases Dividend on Common Shares
City Holding Co. declared a dividend of $0.35 per common share for shareholders of record as of January 13, 2012. The dividend is payable on January 31, 2012. The dividend represents a 3% increase from the %0.34 per share cash dividend paid in the fourth quarter of 2011. Full Article
City Holding Co. And Virginia Savings Bancorp Announces Merger
City Holding Co. and Virginia Savings Bancorp, Inc. (VSB) announced the execution of a definitive merger agreement for City to acquire VSB and its wholly owned subsidiary, Virginia Savings Bank (Merger). Virginia Savings Bank operates five branches in the northwest portion of Virginia. City and VSB anticipate that the transaction will be completed in the first quarter of 2012, pending regulatory approvals, the approval of VSB shareholders, and completion of other customary closing conditions. Subject to certain parameters and under the terms of the agreement, a shareholder of VSB will receive, at the election of such holder, one of the following forms of consideration: 0.2297 shares of City common stock or $6.75 in cash or 0.1263 shares of City common stock and $3.04 in cash for each share of VSB common stock and each share of Series A Non-Voting preferred stock owned by him or her. All shareholder elections will be subject to allocation and proration procedures set forth in the merger agreement which is intended to ensure that, in the aggregate, 55% of the VSB common shares outstanding will be exchanged for City common stock. The total transaction value is estimated at approximately $13.4 million. Janney Montgomery Scott LLC served as financial advisor to City. Scott & Stringfellow served as financial advisor to VSB. Jackson Kelly PLLC served as legal advisor to City. LeClairRyan served as legal advisor to VSB. Full Article
City Holding Co. Declares Quarterly Cash Dividend
City Holding Co. announced that it has declared a quarterly dividend of $0.34 per share to be paid on October 31, 2011 to shareholders of record as of October 14, 2011. Full Article
City Holding Co. Declares Quarterly Cash Dividend
City Holding Co. announced that the Company has declared a quarterly dividend of $0.34 per share to be paid on July 29, 2011 to shareholders of record as of July 15, 2011. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
