CITY HOLDING CO (CHCO): M&A transaction — City Holding completes $62.1M stock acquisition of Citizens Commerce Bancshares

CITY HOLDING CO

Each Citizens share exchanged for 0.1666 City shares; deal valued at $15.37/share.
Combined company has $6.2B assets, $5.2B deposits, $3.9B loans as of Dec 31, 2022.
Deal strengthens City's presence in Lexington, Kentucky MSA; Citizens merged into City National Bank.
City retained more employees than anticipated; one dozen admin/operational staff filled open positions.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CITY HOLDING CO completed an acquisition involving Citizens Commerce Bancshares, Inc. for approximately $62.1 million, or $15.37 per share of Citizens common stock (closed 2023-03-10).

Action: acquisition
Counterparty: Citizens Commerce Bancshares, Inc.
Consideration: approximately $62.1 million, or $15.37 per share of Citizens common stock
Closing: 2023-03-10

Exact text from the filing

The acquisition became effective as of the close of business on March 10, 2023. The acquisition of Citizens was structured as a stock transaction valued at approximately $62.1 million, or $15.37 per share of Citizens common stock, with each share of Citizens common stock being exchanged for 0.1666 shares of City common stock. City and Citizens first announced

View on SEC.gov

15 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CITY HOLDING CO filing history →

Source: SEC EDGAR

accession 0000726854-23-000087

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.