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City Holding (CHCO) Q4 Net Income Rises 13 Pct

 January 29, 2013 02:25 PM
 


(By Balachander) City Holding Co. (NASDAQ: CHCO), the parent company of City National Bank of West Virginia, posted a 13 percent rise in quarterly earnings, helped by double-digit growth in net interest and non-interest income.

Earnings available to common shareholders increased to $10.89 million or 73 cents a share from $9.65 million or 65 cents per share in the fourth quarter of last year.

Net interest income rose 10 percent to $25.52 million and total non-interest income also grew 17 percent to $14.27 million.

Wall Street analysts, on average, expected CHCO to earn 68 cents per share on revenue of $38.30 million.

[Related -It's CEO-Letter Time]

Net interest margin increased to 3.99 percent from 3.95 percent in the previous quarter and 3.90 percent for the fourth quarter of last year.

The company achieved a return on assets of 1.49 percent, a return on tangible equity of 16.2 percent and an efficiency ratio of 53.1 percent in the fourth quarter.

The stock, which has been trading in the 52-week range of $30.69 to $37.50, traded 0.68 percent higher at $36.84 on Tuesday.

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