XML 44 R28.htm IDEA: XBRL DOCUMENT
v3.8.0.1

City Holding Company (Parent Company Only) Financial Information | 12 Months Ended
--- | ---
Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
City Holding Company (Parent Company Only) Financial Information | CITY HOLDING COMPANY (PARENT COMPANY ONLY) FINANCIAL INFORMATION Condensed Balance Sheets The following table presents the condensed balance sheets of City Holding Company, parent company only (in thousands):
| December 31
| 2017 | 2016
Assets |  |
Cash | $ | 59,031 |  | $ | 26,520 |
Securities available-for-sale | 5,699 |  | 4,231 |
Investment in subsidiaries | 459,150 |  | 430,769 |
Deferred tax assets, net | — |  | 1,459 |
Fixed assets | 6 |  | 7 |
Other assets | 2,989 |  | 2,584 |
Total Assets | $ | 526,875 |  | $ | 465,570 |
Liabilities |  |
Junior subordinated debentures | $ | 16,495 |  | $ | 16,495 |
Dividends payable | 7,184 |  | 6,459 |
Deferred tax liability | 436 |  | — |
Accrued interest payable | 45 |  | 36 |
Other liabilities | 208 |  | 142 |
Total Liabilities | 24,368 |  | 23,132 |
Total Shareholders’ Equity | 502,507 |  | 442,438 |
Total Liabilities and Shareholders’ Equity | $ | 526,875 |  | $ | 465,570 |
Junior subordinated debentures represent the Parent Company’s amounts owed to City Holding Capital Trust III. On December 19, 2016, the Company announced that it had filed a prospectus supplement to its existing shelf registration statement on Form S-3 for the sale of its common stock having an aggregate value of up to $55 million through an “at-the-market” equity offering program. Through the year ended December 31, 2017, the Company has sold approximately 548,000 common shares at a weighted average price of $64.82, net of broker fees. The Company has sold no shares since the first quarter of 2017. To date the Company has received $36.4 million in gross proceeds. Under the program, the Company has the ability to receive an additional $18.6 million in gross proceeds from the sale of common shares. Condensed Statements of Comprehensive Income The following table presents the condensed statements of comprehensive income of City Holding Company, parent company only (in thousands):
| Year Ended December 31
| 2017 | 2016 | 2015
Income |  |  |
Dividends from subsidiaries | $ | 30,000 |  | $ | 8,600 |  | $ | 48,950 |
Investment securities gains | 200 |  | — |  | — |
Other income | 115 |  | 320 |  | 22 |
| 30,315 |  | 8,920 |  | 48,972 |
Expenses |  |  |
Interest expense | 765 |  | 683 |  | 618 |
Other expenses | 1,636 |  | 1,957 |  | 1,170 |
| 2,401 |  | 2,640 |  | 1,788 |
Income Before Income Tax Benefit and Equity in Undistributed Net Income of Subsidiaries | 27,914 |  | 6,280 |  | 47,184 |
Income tax benefit | (1,197 | ) | (1,096 | ) | (795 | )
Income Before Equity in Undistributed Net Income of Subsidiaries | 29,111 |  | 7,376 |  | 47,979 |
Equity in undistributed net income of subsidiaries | 25,199 |  | 44,752 |  | 6,118 |
Net Income | $ | 54,310 |  | $ | 52,128 |  | $ | 54,097 |
Total Comprehensive Income | $ | 56,677 |  | $ | 48,948 |  | $ | 54,424 |
Condensed Statements of Cash Flows The following table presents the condensed statements of cash flows of City Holding Company, parent company only (in thousands):
| Year Ended December 31
| 2017 | 2016 | 2015
Operating Activities |  |  |
Net income | $ | 54,310 |  | $ | 52,128 |  | $ | 54,097 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
Realized investment securities gains | (200 | ) | — |  | — |
Provision for deferred income taxes | 1,347 |  | (241 | ) | (148 | )
Amortization and accretion | — |  | (5 | ) | — |
Stock based compensation | 2,097 |  | 2,018 |  | 3 |
Depreciation | 1 |  | 1 |  | 1 |
Asset write down | — |  | 444 |  | — |
Change in other assets | (405 | ) | 260 |  | 13,338 |
Change in other liabilities | (1,660 | ) | (2,288 | ) | 462 |
Equity in undistributed net income | (25,199 | ) | (44,752 | ) | (6,118 | )
Net Cash Provided by Operating Activities | 30,291 |  | 7,565 |  | 61,635 |
Investing Activities |  |  |
Proceeds from sales of available for sale securities | 200 |  | — |  | — |
Net Cash Provided by Investing Activities | 200 |  | — |  | — |
Financing Activities |  |  |
Dividends paid | (27,120 | ) | (25,718 | ) | (25,304 | )
Issuance of common stock | 28,408 |  | 6,864 |  | — |
Purchases of treasury stock | — |  | (10,018 | ) | (7,055 | )
Exercise of stock options | 732 |  | 1,155 |  | 2,979 |
Exercise of warrants | — |  | — |  | 1,896 |
Net Cash Provided by (Used in) Financing Activities | 2,020 |  | (27,717 | ) | (27,484 | )
Increase (decrease) in Cash and Cash Equivalents | 32,511 |  | (20,152 | ) | 34,151 |
Cash and cash equivalents at beginning of year | 26,520 |  | 46,672 |  | 12,521 |
Cash and Cash Equivalents at End of Year | $ | 59,031 |  | $ | 26,520 |  | $ | 46,672 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration