City Holding seeks approval for stock issue - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

City Holding seeks approval for stock issue

Posted: Updated:
  • BusinessBusiness

  • Tuesday, May 21 2013 2:20 PM EDT2013-05-21 18:20:05 GMT
    Single tickets for all Clay Center Presents fall 2013 performances go on sale at 10 a.m. July 1.
    Single tickets for all Clay Center Presents fall 2013 performances go on sale at 10 a.m. July 1.
  • Tuesday, May 21 2013 1:54 PM EDT2013-05-21 17:54:26 GMT
    The West Virginia EDA adopted a resolution to allow $150 million in 20-year bonds for new equipment at Gestamp. The state will own the equipment at first, and Gestamp will pay off the bonds on it.
    The West Virginia Economic Development Authority adopted a resolution to allow $150 million in 20-year bonds for new equipment at Gestamp. The state will own the equipment at first, and Gestamp will pay off the bonds on it.
  • Tuesday, May 21 2013 1:49 PM EDT2013-05-21 17:49:56 GMT
    Entsorga will take waste and separate steel, aluminum and glass, recycle certain types of biodegradable waste and convert it to an end product that can be used to make cement.
    The business, which WVEDA Executive Director David Warner explained was a European technology that takes waste and separates steel, aluminum and glass, recycles certain types of biodegradable waste and converts it to an end product that can be used to make cement.

City Holding Co. has filed papers with the Securities and Exchange Commission for authorization to issue up to $100 million in common stock.

The documents were filed Jan. 2.

City Holding CEO Charles "Skip" Hageboeck said the authorization would replace one that has expired. City Holding Co. wants the authority to issue and sell stock in a matter if days if it needs to raise cash quickly for an acquisition. Otherwise, filing the paperwork with the SEC and receiving approval could take up to four months, he said.

Having such authority in hand is common in the banking industry, Hageboeck said.

City Holding Co. is the parent company of City National Bank.