CITY HLDG CO. DL 2,50

City Holding Company has named Michael "Tim" T. Quinlan, Jr. (57) president of the City National Bank of West Virginia, effective immediately. Quinlan had been executive vice president for the group's consumer banking business since January 2021. Charles "Skip" R. Hageboeck is relinquishing the president role but will remain chief executive officer of the bank and president and CEO of City Holding Company; his employment agreement was adjusted accordingly. The company also announced a share repurchase program for up to 1,000,000 common shares (about 7% of outstanding shares) and elected B. Scott Raynes as a new director. » Mere på de.investing.com

City Holding elected B. Scott Raynes at its annual meeting as a Class II director for a two-year term, increasing the board from 11 to 12 members. Raynes is president and CEO of Marshall Health Network and brings many years of leadership experience in several hospital systems. City Holding is a bank holding company with total assets of USD 6.8 billion, a market capitalization of USD 1.71 billion, and operates 96 branches through City National Bank of West Virginia. » Mere på de.investing.com

City Holding has approved a new share buyback program for up to 1,000,000 common shares, representing about 7% of outstanding shares and replacing a previous program. Purchases are to be made on the open market, have no time limit and may be suspended depending on market and business conditions. So far, the company repurchased 822,634 shares under the previous plan; City Holding continues to emphasize a strong capital position and the goal of increasing shareholder value. Current metrics: P/E ratio 13.3, return on equity 17%, dividend yield 2.91% with 14.2 million outstanding common shares. » Mere på de.investing.com