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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Multiemployer Plans [Line Items]  
Summary Of Stock Option Activity
During the year ended December 31, 2023, no stock options were exercised. The Company had 11,586 outstanding and exercisable options issued as of December 31, 2023 at a weighted average exercise price of $62.83 per share. All previously issued stock options granted under the 2013 Plan that was replaced by the 2023 Plan were fully vested prior to December 31, 2022.
Shares issued in connection with stock option exercises are issued from available treasury shares. If no treasury shares are available, new shares would be issued from available authorized shares. During 2022 and 2021, all shares issued in connection with stock option exercises and restricted stock awards were issued from available treasury stock. For the stock options that have performance-based criteria, management has evaluated those criteria and has determined that, as of December 31, 2023, the criteria were probable of being met.
Restricted Shares Activity And Related Information
A summary of the Company’s restricted shares activity and related information is presented below:
 
202320222021
Restricted AwardsAverage Market Price at GrantRestricted AwardsAverage Market Price at GrantRestricted AwardsAverage Market Price at Grant
Outstanding at January 1140,606146,755158,554
     Granted35,358$91.46 33,327$77.21 34,762$76.38 
     Forfeited/Vested
(57,328)(39,476)(46,561)
Outstanding at December 31
118,636140,606146,755

    Information regarding stock-based compensation associated with restricted shares is provided in the following table (in thousands):
For the year ended December 31,
202320222021
Stock-based compensation expense associated with restricted shares, RSUs and
  PSUs		$3,047 $2,817 $2,949 
At period-end:2023
Unrecognized stock-based compensation expense$4,912 
Weighted average period in which the above amount is expected to be recognized3.0years
Summary of 401k Activity [Table Text Block]
401(k) Plan
 
The Company provides retirement benefits to its employees through matching contributions to the City Holding Company 401(k) Plan and Trust (the "401(k) Plan"), which is intended to be compliant with Employee Retirement Income Security Act (ERISA) section 404(c). Information regarding the Company’s 401(k) Plan is provided in the following table (dollars in thousands):
For the year ended December 31,
202320222021
Expense associated with the Company's 401(k) Plan$1,246 $1,138 $1,075 
At period-end:
Number of shares of the Company's common stock held by the 401(k) Plan165,489 168,332 178,936 
Summary Of Activity Within The Defined Benefit Plan The following table summarizes activity within the Company's Defined Benefit Plan (dollars in thousands):
Pension Benefits
20232022
Change in fair value of plan assets:
Fair value at beginning of measurement period$11,460 $14,704 
Actual (loss) gain on plan assets1,839 (2,253)
Benefits paid
(948)(991)
Fair value at end of measurement period12,351 11,460 
Change in benefit obligation:
Benefit obligation at beginning of measurement period(11,229)(14,295)
Interest cost(549)(362)
Actuarial (loss) gain (43)(260)
Assumption changes
(178)2,697 
Benefits paid
948 991 
Benefit obligation at end of measurement period(11,051)(11,229)
Funded status$1,300 $231 
Weighted-average assumptions for benefit obligation:
Discount rate4.93 %5.14 %
Expected long-term rate of return6.75 %6.75 %
Weighted-average assumptions for net periodic pension cost:
Discount rate5.14 %2.63 %
Expected long-term rate of return6.75 %6.75 %
Net Periodic Pension Cost Of The Defined Benefit Plan
The following table presents the components of the net periodic pension cost of the Company's Defined Benefit Plan, which is recognized in Other Expenses in the Consolidated Statements of Income (in thousands). Since the Company's Defined Benefit Plan is frozen, there is no service cost component.
202320222021
Interest cost$549 $362 $331 
Expected return on plan assets(840)(886)(884)
Net amortization and deferral
343 780 1,122 
Net Periodic Pension Cost
$52 $256 $569 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) Amounts related to the Company's Defined Benefit Pension Plan recognized as a component of other comprehensive (loss) income were as follows (in thousands):
202320222021
Net actuarial gain $1,121 $83 $2,848 
Deferred tax expense(280)(20)(672)
   Other comprehensive income, net of tax$841 $63 $2,176 

    
Amounts recognized as a component of accumulated other comprehensive (loss) income as of December 31, 2023 and 2022 were as follows (in thousands):
20232022
Net actuarial loss$3,398 $4,519 
Deferred tax benefit(817)(1,097)
   Amounts included in accumulated other comprehensive (loss) income, net of tax$2,581 $3,422 
Summary Of Expected Benefit Payments
The following table summarizes the expected benefits to be paid in each of the next five years and in the aggregate for the five years thereafter (in thousands):
Plan Year Ending December 31,Expected Benefits to be Paid
2024$1,014 
20251,014 
2026998 
2027977 
2028960 
2029 through 20334,344 
Summary Of Assets Segregated By Level Of Valuation Inputs Within The Fair Value Hierarchy
The major categories of assets in the Company’s Defined Benefit Plan as of year-end are presented in the following table (in thousands).  Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value (See Note Eighteen).

TotalLevel 1Level 2Level 3
2023
Cash and cash equivalents$62 $62 $— $— 
Common stocks
9,487 9,487 — — 
Corporate bonds
2,802 — 2,802 — 
Total
$12,351 $9,549 $2,802 $— 
2022
Cash and cash equivalents$15 $15 $— $— 
Common stocks8,751 8,751 — — 
Corporate bonds2,694 — 2,694 — 
Total
$11,460 $8,766 $2,694 $— 
Summary of Pentegra Plans
Pentegra Defined Benefit Plan

The Company and its subsidiary participate in the Pentegra Defined Benefit Plan for Financial Institutions ("The Pentegra DB Plan"), a tax-qualified defined benefit pension plan. The Pentegra DB Plan operates as a multi-employer plan for accounting purposes and as a multiple-employer plan under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. There are no collective bargaining agreements in place that require contributions to the Pentegra DB Plan. The Pentegra DB Plan is a single plan under Internal Revenue Code Section 413(c) and, as a result, all of the assets stand behind all of the liabilities. Accordingly, under the Pentegra DB Plan, contributions made by a participating employer may be used to provide benefits to participants of other participating employers. The funded statuses below are as of July 1, 2023 (the latest available valuation report). It is the policy of the Company to fund the normal cost of the Pentegra DB Plan on an annual basis.  Other than for normal plan expenses, no contributions were required for the years ended December 31, 2023, 2022 and 2021.  The benefits of the original Pentegra Defined Benefit Plan were frozen prior to the acquisition of Classic Bancshares ("Classic") in 2005, and the benefits of the Poage Pentegra Defined Benefit Plan were frozen prior to the acquisition of Poage in 2018. It is the intention of the Company to fund benefit amounts when assets of the plan are not sufficient.
Pentegra DB Plan's Employer Identification Number13-5645888
Plan Number333
Funded status for plan inherited with Classic acquisition88.26%
Funded status for plan inherited with Poage acquisition86.39%
Summary of Other Post-Retirement Benefits
Other Post-Retirement Benefit Plans

Certain entities previously acquired by the Company had entered into individual deferred compensation and supplemental retirement agreements with certain current and former directors and officers. The Company has assumed the liabilities associated with these agreements, the cost of which is being accrued over the period of active service from the date of the respective agreement. To assist in funding these liabilities, the acquired entities had insured the lives of certain current and former directors and officers. The Company is the current owner and beneficiary of those insurance policies. The following table presents a summary of the Company's other post-retirement benefit plans (in thousands).
For the year ended December 31
202320222021
Cost of other post-retirement benefits$231 $251 $277 
At period-end:
Other post-retirement benefit liability (included in Other Liabilities)5,175 5,527 5,995 
Cash surrender value of insurance policies (included in Other Assets)4,841 4,787 5,071