City Holding reports record income
CHARLESTON — City Holding Co. has reported record net income for 2013. Charlestonbased City Holding said Tuesday that it earned $48.7 million, or $3.06 per share for the 12 months ending Dec. 31. The parent of City National Bank earned $38.9 million, or $2.61 per share, in 2012.
City Holding completed its acquisition of Virginia Savings Bank in the second quarter of 2012 and Virginia-based Community Financial Corp. in the first quarter of 2013. The company says its 2013 results include $5.5 million in mergerrelated expenses.
City Holding reported net fourth-quarter income of $13.7 million, or 86 cents per share, compared with $10.9 million, or 73 cents per share, for the 2012 period. City Holding, with total assets of $3.4 billion, operates 82 branches in West Virginia, Kentucky, Ohio and Virginia.
Kroger closes Harris Teeter buy
MATTHEWS, N.C. — The country’s largest traditional supermarket operator says it’s completed its purchase of regional grocer Harris Teeter Supermarkets Inc.
Cincinnati-based Kroger Co. said Wednesday the agreement to pay Harris Teeter shareholders $49.38 per share closed Tuesday. Harris Teeter Chairman and CEO Thomas Dickson is retiring. Matthews-based Harris Teeter has more than 200 stores in eight southeastern and mid-Atlantic states, including Delaware, Florida, Maryland and Washington, D.C., where Kroger did not have a presence.
The combined company will operate more than 2,600 supermarkets and employ 370,000 people across 34 states and the District of Columbia.
The Herald-Dispatch welcomes your comments on this article, but please be civil. Avoid profanity, obscenity, personal attacks, accusations of criminal activity, name-calling or insults to the other posters. Herald-dispatch.com does not control or monitor comments as they are posted, but if you find a comment offensive or uncivil, hover your mouse over the comment and click the X that appears in the upper right of the comment. If you do not want your comment to post to your personal Facebook page, uncheck the box below the comment.