City Holding completes Va. acquisition - WOWK 13 Charleston, Huntington WV News, Weather, Sports

City Holding completes Va. acquisition

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  • UPDATE: Route 2 now open following tractor trailer accident

    UPDATE: Route 2 now open following tractor trailer accident

    Monday, August 25 2014 4:00 PM EDT2014-08-25 20:00:48 GMT
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.
    A tractor trailer is blocking part of Route 2. The road is closed until further notice. Drivers heading in both direction are being asked to use the Big Ben Bowen Highway connector by Target to get around.

City Holding Co. announced Jan. 11 that it had completed the acquisition of Community Financial Corp. of Staunton, Va., and its wholly owned subsidiary, Community Bank effective Jan. 10.

In connection with the acquisition, City repaid Community's borrowings under the U.S. Troubled Asset Relief Program (TARP) of $12.6 million on Jan. 9. The merger, which was announced in August 2012, received the approval of all required regulatory agencies in December and Community's shareholders on Jan. 8.

With the acquisition of Community Bank, City grows to $3.4 billion in assets and operates 84 banking offices in West Virginia, Virginia, Kentucky, and Ohio.