Exhibit 99
NEWS RELEASE
--------------------------------------------------------------------------------
For Immediate Release
June 14, 2000
For Further Information Contact:
Robert A. Henson
(304) 769-1108
CITY HOLDING COMPANY AND CITY NATIONAL BANK
ANNOUNCE SENIOR MANAGEMENT CHANGE
Charleston, WV - City Holding Company announced that its Board of
Directors had appointed Robert A. Henson, currently Chief Financial Officer, as
Acting Chief Executive Officer to succeed Steven J. Day, who resigned.
Concurrently, City National Bank's Board appointed Mr. Henson Acting President,
replacing Mr. Day. The appointments of Mr. Henson are effective immediately.
Philip L. McLaughlin, Chairman of the Board, said "Mr. Henson has
extensive experience in a wide range of matters that will help City through this
challenging period. We are delighted he will be leading the Company during this
time. The Board will be appointing a search committee to select a permanent
chief executive officer, and Mr. Henson will be considered for that post."
Mr. Henson has served as the Company's Chief Financial Officer since
1991, and has been an employee of City since 1987.
Mr. Day has been CEO of the Company since 1990 and has more than 23
years of experience in the banking industry. Mr. Day said, "This is the right
time for a change for both City Holding and for me personally. I believe the
Company needs a new leader and I fully support Bob and the Board."
"Steve Day has made significant contributions to City Holding over the
years. We have worked together closely and share the same passion for the
Company's success. Steve has been a key force in leading our efforts to expand
our business in the extremely competitive banking industry. We appreciate his
contributions and wish him the best in his future endeavors," said Mr.
McLaughlin.
City Holding Company is the parent company of City National Bank of
West Virginia, Del Amo Savings Bank, FSB, Frontier State Bank, and City
Financial Corporation. City National Bank, in addition to its banking divisions,
operates: City Mortgage Services, a retail originator, wholesaler and servicer
of mortgage loans; RMI, ltd., an insurance agency offering a full range of
insurance products and services; Jarrett/Aim Communications, a direct mail
service provider; and Citynet, an internet service provider and web-site
development firm.
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 forward-looking statements involve certain
risks and uncertainties, including a variety of factors that may cause the
actual results of City Holding to differ materially from the anticipated results
or other expectations expressed in such forward-looking statements. Factors that
might cause such a difference include, but are not limited to: (1) the
management changes may not have the effect anticipated; (2) competitive
pressures may increase significantly; (3 general economic or business
conditions, either nationally or in the states or regions in which the companies
do business, may be less favorable than expected, resulting in, among other
things, a deterioration in credit quality or a reduced demand for credit; (4)
legislative or regulatory changes may adversely affect the businesses in which
the companies are engaged; and (5) changes may occur in the securities markets.
