City Holding Co., the corporate parent of City National Bank, announced it earned $38.9 million or $2.61 a share in 2012, down from $40.7 million or $2.67 a share in 2011.
The company said its 2012 results were affected by $4.7 million in merger-related expenses. City acquired Virginia Savings Bancorp last year. Earlier this month City completed the acquisition of Community Financial Corp.
Charles Hageboeck, City's chief executive officer, called 2012 "an exciting and important year for City." He noted that the acquisition of Virginia Savings Bancorp marked City's first acquisition in seven years.
With the acquisition of Virginia Savings Bancorp and Community Financial Corp., "City now has total assets of $3.4 billion and 15 branch locations in Virginia," he said. "We look forward to continuing the development of our presence in Virginia."
City is headquartered in Cross Lanes. The company operates 83 banking offices in West Virginia, Virginia, Kentucky and Ohio.