City National Bank Set to Expand in Eastern Panhandle
July 19 2005 - 4:52PM
PR Newswire (US)
City National Bank Set to Expand in Eastern Panhandle Will Build
New Office in Potomac Marketplace, Ranson, West Virginia
CHARLESTON, W.Va., July 19 /PRNewswire-FirstCall/ -- City Holding
Company, "the Company" (NASDAQ:CHCO), a $2.5 billion bank holding
company headquartered in Charleston, today announced plans to open
a 3,000 square-foot branch office in the Potomac Marketplace retail
shopping center on West Virginia Highway 9, just south of Ranson,
West Virginia. The shopping center, which is expected to open later
this year, will be anchored by Home Depot and Weis Supermarket. The
City branch is slated to open in the first quarter of 2006 and will
create approximately seven new jobs. "We are very pleased to expand
our presence in the Ranson/Charles Town communities," said Craig
Stilwell, Senior Vice President - Retail. "This office expands our
presence in the important Eastern Panhandle of West Virginia to
seven locations, so it improves convenience for current customers
living in the area, while allowing us to attract new customers in
what will be the area's most popular shopping destination." "We are
delighted to see City National expand in Jefferson County," said
Peggy Smith, Mayor of Charles Town. "They are a good, stable
employer, and a valuable contributor to the economic development of
the area. We appreciate City's confidence in the continued growth
of our communities." West Virginia's Eastern Panhandle counties,
including Jefferson County and Berkeley County, are the state's
fastest growing according to the most recent U.S. Census Bureau
population estimates. They are a part of the multi-state MSA that
includes Washington, DC, Arlington and Alexandria, Virginia, and
Baltimore and Hagerstown, Maryland. "I'm thrilled that we are
expanding our presence in the Panhandle area," said Becky Linton,
retail head of the area for the past 10 years. "This full- service
facility, on one of the most traveled roads, will give City
excellent visibility - and our customers will enjoy increased
access." City Holding Company is the parent company of City
National Bank of West Virginia. In addition to the Bank's 67 branch
locations across West Virginia, Eastern Kentucky and Southern Ohio,
City National Bank operates CityInsurance Professionals, an
insurance agency offering a full range of insurance products and
services. 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 not continue to
experience significant recoveries of previously charged-off loans
and 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, (4) the Company could have adverse legal actions of a
material nature, (5) the Company may face competitive loss of
customers, (6) the Company may be unable to manage its expense
levels, (7) the Company may have difficulty retaining key
employees, (8) 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, (9)
changes in general economic conditions and increased competition
could adversely affect the Company's operating results, (10)
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 (11) 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, +1-304-769-1113 Web site:
http://www.cityholding.com/
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