RankingBanking Web Pageturn - Flipbook - Page 24
22
City Holding Co.
Finds Strength in
Community
By Laura Alix
R
ich in resources and culture,
— or maybe because of — its location in slow-
traditionally rural Central Appa-
er growth markets. But a steady focus on retail
lachia has historically lagged the
banking and asset quality, coupled with the occa-
rest of the nation in economic
sional strategic acquisition, has delivered strong
growth. The area is seldom in play
performance for City, which placed third among
when money center banks talk up
the 300 public banks in this year’s RankingBank-
branch expansion plans, but City
ing study. Contributing to its performance in 2022
Holding Co., based in Charleston,
were strong profitability metrics that were reward-
West Virginia, has stayed loyal, achieving superior
ed by the market — a return on average assets of
profitability in a region often neglected by much
1.74% and a 16.76% return on average equity.
larger institutions.
The bank’s executives attribute its success to
The holding company for City National Bank,
doubling down on their community, providing re-
with $5.9 billion in assets at the end of 2022, has
tail banking and other services. It doesn’t spend
achieved consistent growth over the years despite
much time pruning expenses, pursuing new niches