City Holding Company · NASDAQ:CHCO
City — Merger or Acquisition (October 2022)
8 slides from City's merger presentation, Oct 18, 2022
Slide 1: Acquisition of Citizens Commerce Bancshares Investor Presentation
1 Acquisition of Investor Presentation October 18, 2022 Exhibit 99.2
Slide 2: Forward Looking Statements & Additional Information
2 Forward Looking Statements & Additional Information This presentation contains certain forward-looking statements that are included pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements express only management’s beliefs regarding
Slide 3: Additional Information
3 Additional Information This presentation does not constitute an offer to sell or the solicitation of an offer to buy securities of City or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawf
Slide 4: An Attractive Addition to Our Robust Kentucky Franchise
4 Acquisition of Citizens Commerce Bancshares, Inc. Source: St. Louis Fed, US News & World Report, S&P Capital IQ Pro An Attractive Addition to Our Robust Kentucky Franchise Lexington-Fayette MSA Market Highlights 2020 Total GDP: $30B 2022 Median Household Income: $66,061 2010-2012 Population Growth
Slide 5: Transaction Rationale & Highlights
5 Transaction Rationale & Highlights 1) Based on mean consensus analyst estimates for 2023 Franchise Strengthening Strategic Combination Financially Compelling Low Risk Transaction • Strategic acquisition of Kentucky-based community bank • Natural extension of branch network in the Lexington, Kentuc
Slide 6: Overview of Key Transaction Terms
6 Overview of Key Transaction Terms 1) Based on CHCO’s five day average closing price of $92.60 as of October 17, 2022. 2) Based on CCVS’s closing price of $7.85 on October 17, 2022. Target: Citizens Commerce Bancshares, Inc. (OTC:CCVS) Transaction Value¹: $61.0 million, or $15.43 per Citizens Comme
Slide 7: Pro Forma Branch Footprint
7 Pro Forma Branch Footprint Source: S&P Capital IQ Pro CHCO Branches (94) CCVS Branches (5) 1-mile 20% 5-mile 40% 10-mile 80% Proximity of CCVS Branches to CHCO Branches:
Slide 8: A History of Thoughtful and Successful Acquisitions
8 $3.7 $4.0 $4.1 $4.9 $5.0 $5.8 $6.0 $6.2 $0.6 $0.4 2015 2016 2017 2018 2019 2020 2021 Pro Forma Expansion efforts focused profitable growth and successful integration • May 2005: Acquired Classic Bancshares, Inc. in Ashland, KY • May 2012: Acquired Virginia Savings Bancorp, Inc. in Front Royal, VA