Banking & Finance

City Holding Company Files To Raise Cash (CHCO)

Money_stack_pic_2City Holding Company (NASDAQ: CHCO) has filed to raise up to $100 million.  The company will be able to issue any combination of common stock, preferred stock, warrants to purchase common stock, warrants to purchase preferred stock, and units in its fund raising.

City Holding operates as a bank holding company headquartered inCharleston, West Virginia, through its wholly-owned subsidiary, CityNational Bank of West Virginia.  It has a network of 69 banking officesin 59 locations in West Virginia, 8 in Kentucky, and 3 in Ohio.

No underwriter was named in the filing.  This stock is still up 4%at$37.80 on about 1.5-times average volume (189K so far today).  Its52-week trading range is $31.00 to $54.25.

Jon C. Ogg
November 13, 2008