City National Bank to Open New Wal-Mart Supercenter Banking Office in Putnam County

Hurricane, West Virginia location will expand City-Wal-Mart partnership to six branches 


CHARLESTON, W.Va., Sept. 19  /PRNewswire-FirstCall/ -- City Holding Company, "the Company" (NASDAQ:CHCO), a $2.5 billion bank holding company headquartered in Charleston, today announced it has signed an agreement with Wal-Mart to provide banking services in the new Wal-Mart Supercenter planned for Hurricane, West Virginia. The Bank will open the new branch in conjunction with the opening of the new Wal-Mart facility, scheduled for late summer 2007. The new branch is expected to create at least four new jobs within the company.

According to Tim Quinlan, Senior Vice President - Retail, "We are excited about our expanding partnership with Wal-Mart. We have been very pleased with the performance of our first four Wal-Mart branches and now have two under development. While we already have one of the best branch banking networks in West Virginia, City National continues to look for opportunities to optimize customer convenience and accessibility.  The Hurricane location will compliment our delivery system in the fast-growing Putnam County market."

City National Bank currently operates banking centers in Wal-Mart Supercenters in Barboursville, South Charleston, and Sophia, West Virginia, and Ashland, Kentucky.  The Company will open a branch in Wal-Mart's new Ripley, West Virginia Supercenter, which is currently under construction, during the first quarter of 2007.

"Our experience tells us customers appreciate the convenience of the Wal- Mart branches," Quinlan said.  "Wal-Mart has tremendous exposure and high traffic counts, which give us considerable opportunity for new checking and home equity relationships.  The Hurricane location will also help us fill out our delivery channel in the important Putnam County-Charleston MSA market. City will lease 650 square feet in the facility, providing full service banking that includes depository and loan services."

City Holding Company is the parent company of City National Bank of West Virginia.  City National operates 67 branches across West Virginia, Eastern Kentucky and Southern Ohio.

Forward-Looking Information

This news release contains certain forward-looking statements that are included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Such information involves risks and uncertainties that could result in the Company's actual results differing from those projected in the forward-looking statements. Important factors that could cause actual results to differ materially from those discussed in such forward-looking statements include, but are not limited to, (1) the Company may incur additional loan loss provision due to negative credit quality trends in the future that may lead to a deterioration of asset quality; (2) the Company may incur increased charge-offs in the future; (3) the Company may experience increases in the default rates on previously securitized loans that would result in impairment losses or lower the yield on such loans; (4) the Company may continue to benefit from strong recovery efforts on previously securitized loans resulting in improved yields on these assets; (5) the Company could have adverse legal actions of a material nature; (6) the Company may face competitive loss of customers; (7) the Company may be unable to manage its expense levels; (8) the Company may have difficulty retaining key employees; (9) changes in the interest rate environment may have results on the Company's operations materially different from those anticipated by the Company's market risk management functions; (10) changes in general economic conditions and increased competition could adversely affect the Company's operating results; (11) changes in other regulations and government policies affecting bank holding companies and their subsidiaries, including changes in monetary policies, could negatively impact the Company's operating results; and (12) the Company may experience difficulties growing loan and deposit balances.  Forward-looking statements made herein reflect management's expectations as of the date such statements are made. Such information is provided to assist stockholders and potential investors in understanding current and anticipated financial operations of the Company and is included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances that arise after the date such statements are made. 

DATASOURCE: City Holding Company



CONTACT:  Craig Stilwell, Executive Vice President of City Holding

Company, [phone]



Web site:  http://www.cityholding.com/ 

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