City Holding Q1 Profit Rises Above Estimates

(RTTNews) - City Holding Company (CHCO), bank holding company, on Tuesday posted an improvement in net profit for the first-quarter, above analysts' expectations.

For the three-month period, the bank registered a net profit of $29.523 million or $1.97 per share, higher than $24.341 million or $1.63 per share, posted for the same period last year.

On average, six analysts, polled by Thomson Reuters had expected the lender to earn $1.86 per share, for the quarter. Analysts' estimates typically exclude special items.

Pre-tax earnings moved up to $36.655 million from $30.600 million in 2023.

Net interest income for the three-month period edged up to $54.43 million from last year's $53.46 million.

Total non-interest income, however, was slightly down to $17.948 million from $18.682 million a year ago.

Net loans stood at $4.069 billion, compared with last year's $3.871 billion.

Total deposits were $5.055 billion, lesser than $5.136 billion a year ago.