“During 2012, our bankcard interchange fee income increased $1.3 million, or about 11%, due to increased transaction volumes. Trust and investment management fee income increased $0.7 million, or 21.5%, from 2011 due to assets under management increasing from $580 million at December 31, 2011 to $750 million at December 31, 2012. This increase was the result of core growth, as Virginia Savings Bancorp did not offer these services. In addition, an increase in mortgage-related lending activity led to an increase of $0.6 million in other income.”“In summary, 2012 was another successful year for City both from a financial performance perspective and from a growth perspective. We expanded our footprint into Virginia while maintaining solid financial results. We look forward to 2013 and the opportunities to continue meeting the expectations of our shareholders and customers.”
City Holding Company Announces 2012 Earnings
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