City National Bank Offers Two New Checking Options
August 04 2005 - 5:04PM
PR Newswire (US)
Providing services to "community heroes" as well as those who are
underserved CHARLESTON, W.Va., August 4 /PRNewswire-FirstCall/ --
City Holding Company, "the Company" (NASDAQ:CHCO), a $2.5 billion
bank holding company headquartered in Charleston, recently launched
two new checking accounts designed to meet the needs of special
niche markets. Community Hero checking honors all current and
retired military personnel, firefighters, police officers, medical
personnel and teachers by providing special account benefits.
Bounce Back Checking is for individuals who have had past
challenges managing their accounts - and therefore have been denied
the opportunity to open a checking account - and are looking for a
fresh start. "We are excited to expand our checking options and
offer these innovative products," said Craig Stilwell, Executive
Vice President - Retail. "It's important that the bank be in tune
with the needs of the community. Response to these new accounts
tells us we are meeting community needs." Through an
interest-bearing Community Hero checking account, veterans and
others who serve our community benefit from superior account
features. Unlike most interest-bearing accounts, Community Hero has
no minimum balance requirements and no monthly service fee. And
since travel is common for many of these individuals, this account
also offers the valuable benefit of free non-City ATM transactions.
Specially designed checks feature a Community Hero logo to
recognize their standing in our communities. In addition, City
makes a financial contribution to a related nonprofit organization
in each account holder's honor. Bounce Back checking gives
individuals who haven't been able to open a checking account, due
to past checking history, the opportunity to re- establish their
financial status. City works with these customers to help them
demonstrate sound banking practices, with the goal of moving them
to a traditional checking account. "Banks across the country place
people on ChexSystems(TM) if they mismanage their checking account.
Many banks won't allow individuals on the ChexSystems list to open
an account at their institution," said Tim Quinlan, Senior Vice
President - Retail Banking. "Bounce Back checking at City National
Bank gives these individuals a second chance." City Holding Company
is the parent company of City National Bank. The Bank's 67 branch
locations across West Virginia, Eastern Kentucky and Southern Ohio
provide full-service banking to retail and commercial customers.
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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