City Holding completes Va. acquisition - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

City Holding completes Va. acquisition

Posted: Updated:
  • BusinessBusinessMore>>

  • Founder of Brazil's top building firm, Norberto Odebrecht, dies at 93

    Founder of Brazil's top building firm, Norberto Odebrecht, dies at 93

    Monday, July 21 2014 6:38 AM EDT2014-07-21 10:38:43 GMT
    The conglomerate that carries his name went on to lead ambitious projects such as paving a highway across the Andes mountains and through the Amazon rainforest into Peru, and linking Miami's Metrorail to the city's airport. It also formed a consortium with other firms and was awarded contracts for four of the 12 stadiums that hosted games for the World Cup that ended this month.
    The conglomerate that carries his name went on to lead ambitious projects such as paving a highway across the Andes mountains and through the Amazon rainforest into Peru, and linking Miami's Metrorail to the city's airport. It also formed a consortium with other firms and was awarded contracts for four of the 12 stadiums that hosted games for the World Cup that ended this month.
  • Multiple crews fight Glade Springs fire overnight

    Multiple crews fight Glade Springs fire overnight

    Monday, July 21 2014 6:22 AM EDT2014-07-21 10:22:55 GMT
    Fire at Glade SpringsFire at Glade Springs
    No injuries were reported, and there has been no word yet on the cause of the fire.
    No injuries were reported, and there has been no word yet on the cause of the fire.
  • Bankruptcy Judge Clears Sale of Ormet Plant to Niagra Worldwide

    Bankruptcy Judge Clears Sale of Ormet Plant to Niagra Worldwide

    Monday, July 21 2014 6:17 AM EDT2014-07-21 10:17:46 GMT
    A Wisconsin firm has been cleared by a bankruptcy judge to buy the Ormet Corp. plant in Hannibal, Ohio.
    A Wisconsin firm has been cleared by a bankruptcy judge to buy the Ormet Corp. plant in Hannibal, Ohio.

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.