Core Viewpoint - City Office REIT has entered into a Merger Agreement with MCME, which will suspend dividends to common shareholders after the second quarter, while maintaining dividends on Series A Cumulative Preferred shares [1] Group 1 - The Merger Agreement was announced on July 24 [1] - Common shareholders will not receive dividends after the second quarter due to the merger [1] - Dividends on Series A Cumulative Preferred shares will continue despite the suspension for common shareholders [1]

Executive Summary [Record Quarterly Results](index=1&type=section&id=Record%20Quarterly%20Results) City Holding Company reported record Q3 2025 net income of $35.2 million and diluted EPS of $2.41, driven by strong loan growth and higher net interest income Q3 2025 Key Financial Metrics | Metric | Value | | :-------------------------- | :---------- | | Net Income | $35.2 million | | Diluted EPS | $2.41 | | Return on Assets (ROA) | 2.11% | | Return on Tangible Equity | 22.5% | Financial Performance Analysis (Quarterly) [Net Interest Income](index=1&type=section&id=Net%20Interest%20Income) Net interest income increased by $2.2 million (3.7%) to $61.1 million in Q3 2025, driven by higher loan yields, increased average loans, and reduced liability costs Net Interest Income & Margin Trends (QoQ) | Metric | Q3 2025 | Q2 2025 | Change (QoQ) | | :-------------------------- | :---------- | :---------- | :----------- | | Net Interest Income | $61.1 million | $58.9 million | +$2.2 million (3.7%) | | Tax Equivalent Net Interest Income | $61.3 million | $59.1 million | +$2.2 million (3.7%) | | Net Interest Margin | 4.04% | 3.95% | +0.09% | - Increase in yield on loans (**8 basis points**) and average loans outstanding (**$68.1 million**) contributed **$1.0 million** each to net interest income. A decrease in the cost of interest-bearing liabilities (**3 basis points**) added **$0.3 million**[3](index=3&type=chunk) [Credit Quality](index=1&type=section&id=Credit%20Quality) Credit quality remained stable in Q3 2025, with nonperforming assets at 0.32% of total loans and a $0.5 million recovery of credit losses Credit Quality Metrics | Metric | Sep 30, 2025 | Jun 30, 2025 | | :---------------------------------------- | :----------- | :----------- | | Nonperforming Assets to Total Loans & OREO | 0.32% | 0.33% | | Total Nonperforming Assets | $14.3 million | $14.2 million | | Total Past Due Loans | $8.3 million | $8.0 million | | Past Due Loans as % of Total Loans | 0.19% | 0.18% | Credit Loss (Recovery)/Provision | Period | Amount |\n| :----------------- | :----------- | | Q3 2025 | $(0.5) million (Recovery) | | Q2 2025 | $(2.0) million (Recovery) | | Q3 2024 | $1.2 million (Provision) | [Non-Interest Income](index=2&type=section&id=Non-Interest%20Income) Non-interest income for Q3 2025 was $20.2 million, consistent year-over-year, with service fee and wealth management increases offsetting lower bank-owned life insurance income Non-Interest Income (YoY) | Metric | Q3 2025 | Q3 2024 | Change (YoY) | | :---------------------------------------- | :---------- | :---------- | :----------- | | Total Non-Interest Income | $20.2 million | $20.3 million | -$0.1 million | | Unrealized Fair Value Gains (Equity Securities) | $0.1 million | $0.4 million | -$0.3 million | | Non-Interest Income (exclusive of gains) | $20.0 million | $20.0 million | Consistent | - Service fees increased by **$0.3 million (4.3%)** and wealth and investment management fee income increased by **$0.2 million (5.2%)**. These were offset by a **$0.5 million** decrease in bank-owned life insurance due to death benefit proceeds in Q3 2024[7](index=7&type=chunk) [Non-Interest Expenses](index=2&type=section&id=Non-Interest%20Expenses) Non-interest expenses increased slightly by $0.3 million (0.7%) year-over-year, driven by higher salaries and tax-related matters, partially offset by reduced advertising Non-Interest Expenses (YoY) | Metric | Q3 2025 | Q3 2024 | Change (YoY) | | :-------------------------- | :---------- | :---------- | :----------- | | Total Non-Interest Expenses | $37.9 million | $37.6 million | +$0.3 million (0.7%) | - Increases in salaries and employee benefits (**$0.5 million**) and other tax-related matters (**$0.3 million**) were partially offset by lower advertising (**$0.4 million**) and other expenses (**$0.3 million**)[8](index=8&type=chunk) [Income Tax Expense](index=2&type=section&id=Income%20Tax%20Expense) The effective income tax rate for Q3 2025 remained consistent at 19.7% compared to the prior year - Effective income tax rate for Q3 2025 was **19.7%**, consistent with Q3 2024[11](index=11&type=chunk) Balance Sheet Overview [Balance Sheet Trends](index=2&type=section&id=Balance%20Sheet%20Trends) Gross loans increased by $73.6 million (1.7%) to $4.41 billion at September 30, 2025, with broad growth, while period-end deposit balances rose slightly by 0.2% Loan Growth (QoQ) | Loan Type | Increase (QoQ) | Percentage Change | | :------------------------ | :------------- | :---------------- | | Gross Loans (Total) | $73.6 million | 1.7% | | Residential Real Estate | $25.3 million | 1.3% | | Commercial Real Estate | $24.1 million | 1.4% | | Commercial and Industrial | $17.3 million | 4.2% | | Home Equity | $10.8 million | 5.2% | - Period-end deposit balances increased **$8.8 million (0.2%)** from June 30, 2025, to September 30, 2025. Total average depository balances remained flat QoQ, with increases in average time deposit and noninterest-bearing demand deposit balances offset by decreases in average interest-bearing demand and savings deposit balances[10](index=10&type=chunk) [Capitalization and Liquidity](index=2&type=section&id=Capitalization%20and%20Liquidity) City Holding Company maintained strong capitalization with a 9.8% tangible equity ratio and $1.7 billion in borrowing capacity, exceeding 'well capitalized' regulatory levels Key Capital & Liquidity Metrics (Sep 30, 2025) | Metric | Value | | :---------------------------------------- | :---------- | | Gross Loan to Deposit Ratio | 83.9% | | Gross Loan to Asset Ratio | 66.2% | | Investment Securities as % of Assets | 23.1% | | Tangible Equity | $641 million | | Tangible Equity Ratio | 9.8% | | City National Bank Leverage Ratio | 10.2% | | City National Bank Common Equity Tier I Ratio | 15.8% | | City National Bank Total Risk-Based Capital Ratio | 16.3% | - City National Bank had the capacity to borrow an additional **$1.7 billion** from existing borrowing facilities and approximately **$815 million** of investment securities were unpledged[13](index=13&type=chunk)[14](index=14&type=chunk) Shareholder Information [Dividends and Share Repurchases](index=3&type=section&id=Dividends%20and%20Share%20Repurchases) The Board approved a quarterly cash dividend of $0.87 per share, a 10.0% increase, with $54 million cash and $100 million in available dividends for repurchases - Quarterly cash dividend of **$0.87 per share** approved, a **10.0% increase** from the prior **$0.79 per share** dividend[16](index=16&type=chunk) Resources for Share Repurchases (Sep 30, 2025) | Resource | Amount | | :---------------------------------------- | :----------- | | Cash Balance | $54 million | | Dividends Available from City National (YTD) | $100 million | Forward-Looking Statements This section outlines forward-looking statements, subject to inherent uncertainties, risks, and changes in circumstances beyond management's control, as detailed in the Form 10-K - Forward-looking statements are subject to inherent uncertainty, risks, and changes in circumstances, many of which are outside of management's control[17](index=17&type=chunk) - Factors that could cause actual results to differ include general economic conditions, credit risk, changes in the real estate market, interest rate environment, operational risk (including cybersecurity), increased competition, and changes in regulations and government policies[17](index=17&type=chunk) - The Company undertakes no obligation to update any forward-looking statement and will evaluate subsequent events through the filing of its September 30, 2025 Form 10-Q[18](index=18&type=chunk) Financial Tables and Supplementary Data [Financial Highlights](index=4&type=section&id=Financial%20Highlights) This section summarizes key financial performance indicators, including earnings, per share data, market information, and critical ratios for various periods Selected Financial Highlights ($ in thousands) | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :---------------------------------------- | :----------- | :----------- | :----------- | | Net Interest Income (fully taxable equivalent) | $61,294 | $59,116 | $55,823 | | Net Income available to common shareholders | $35,188 | $33,387 | $29,809 | | Diluted Earnings per share | $2.41 | $2.29 | $2.02 | | Cash dividends declared | $0.87 | $0.79 | $0.79 | | Return on average assets | 2.11% | 2.03% | 1.87% | | Net Interest Margin | 4.04% | 3.95% | 3.87% | | Tangible equity to tangible assets | 9.84% | 9.40% | 9.26% | [Consolidated Statements of Income](index=6&type=section&id=Consolidated%20Statements%20of%20Income) This table presents unaudited consolidated statements of income, detailing interest income and expense, net interest income, credit loss provisions, and net income for various periods Consolidated Statements of Income (Selected Data, $ in thousands) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | YTD 2025 | YTD 2024 | | :---------------------------------------- | :----------- | :----------- | :----------- | :----------- | :----------- | | Total Interest Income | $82,090 | $80,291 | $78,051 | $239,769 | $227,609 | | Total Interest Expense | $20,983 | $21,367 | $22,446 | $63,923 | $62,952 | | Net Interest Income | $61,107 | $58,924 | $55,605 | $175,846 | $164,657 | | (Recovery of) Provision for credit losses | $(500) | $(2,000) | $1,200 | $(2,500) | $1,520 | | Total Non-Interest Income | $20,154 | $19,236 | $20,348 | $58,127 | $57,207 | | Total Non-Interest Expense | $37,915 | $38,999 | $37,638 | $114,549 | $110,310 | | Net Income Available to Common Shareholders | $35,188 | $33,387 | $29,809 | $98,917 | $88,447 | [Consolidated Balance Sheets](index=8&type=section&id=Consolidated%20Balance%20Sheets) This table provides unaudited consolidated balance sheets, presenting assets, liabilities, and stockholders' equity at September 30, 2025, and prior period-ends Consolidated Balance Sheets (Selected Data, $ in thousands) | Metric | Sep 30, 2025 | Jun 30, 2025 | Dec 31, 2024 | | :---------------------------------------- | :----------- | :----------- | :----------- | | Total Assets | $6,667,632 | $6,598,137 | $6,459,459 | | Gross loans | $4,412,775 | $4,339,196 | $4,274,776 | | Total deposits | $5,257,592 | $5,248,820 | $5,144,150 | | Total Liabilities | $5,868,689 | $5,833,922 | $5,728,795 | | Total Stockholders' Equity | $798,943 | $764,215 | $730,664 | | Total CET 1 capital | $726,739 | $702,729 | $688,707 | [Loan Portfolio Details](index=10&type=section&id=Loan%20Portfolio) This table details the Company's gross loan portfolio by category at various period-ends, including commercial, residential, home equity, consumer, and DDA overdrafts Gross Loan Portfolio by Type ($ in thousands, Sep 30, 2025) | Loan Type | Amount | | :------------------------ | :----------- | | Commercial and industrial | $426,654 | | Commercial real estate | $1,802,979 | | Residential real estate | $1,909,791 | | Home equity | $218,750 | | Consumer | $50,056 | | DDA overdrafts | $4,545 | | **Gross Loans Total** | **$4,412,775** | [Asset Quality Information](index=11&type=section&id=Asset%20Quality%20Information) This section provides detailed asset quality metrics, including allowance for loan losses, charge-offs, recoveries, nonaccrual loans, past due loans, and total non-performing assets for various periods Asset Quality Metrics (Selected Data, $ in thousands) | Metric | Sep 30, 2025 | Jun 30, 2025 | Sep 30, 2024 | | :---------------------------------------- | :----------- | :----------- | :----------- | | Allowance for Loan Losses (End of Period) | $19,658 | $19,724 | $21,832 | | Net recoveries (charge-offs) | $434 | $55 | $(2,056) | | Total Non-Performing Assets | $14,277 | $14,248 | $16,198 | | Non-performing assets as % of loans and OREO | 0.32% | 0.33% | 0.39% | | Total Past Due Loans | $8,289 | $7,986 | $11,319 | [Average Balance Sheets, Yields, and Rates (Quarterly)](index=13&type=section&id=Consolidated%20Average%20Balance%20Sheets,%20Yields,%20and%20Rates%20%28Three%20Months%20Ended%29) This table presents average balances, interest income/expense, and corresponding yields/rates for interest-earning assets and interest-bearing liabilities for Q3 2025 and comparable periods Average Balance Sheets, Yields, and Rates (Q3 2025, $ in thousands) | Metric | Average Balance | Interest | Yield/Rate | | :---------------------------------------- | :-------------- | :------- | :--------- | | Total loans | $4,378,342 | $64,606 | 5.85% | | Total interest-earning assets | $6,016,678 | $82,277 | 5.43% | | Total interest-bearing liabilities | $4,360,055 | $20,983 | 1.91% | | Net Interest Income | | $61,294 | | | Net Yield on Earning Assets | | | 4.04% | - Yield on interest earning assets was **5.43%** in Q3 2025, up from **5.38%** in Q2 2025. Cost of interest bearing liabilities decreased to **1.91%** in Q3 2025 from **1.95%** in Q2 2025[29](index=29&type=chunk) [Average Balance Sheets, Yields, and Rates (Nine Months)](index=15&type=section&id=Consolidated%20Average%20Balance%20Sheets,%20Yields,%20and%20Rates%20%28Nine%20Months%20Ended%29) This table presents average balances, interest income/expense, and corresponding yields/rates for interest-earning assets and interest-bearing liabilities for the nine months ended September 30, 2025, and 2024 Average Balance Sheets, Yields, and Rates (YTD Q3 2025, $ in thousands) | Metric | Average Balance | Interest | Yield/Rate | | :---------------------------------------- | :-------------- | :------- | :--------- | | Total loans | $4,327,432 | $188,111 | 5.81% | | Total interest-earning assets | $5,976,923 | $240,339 | 5.38% | | Total interest-bearing liabilities | $4,355,580 | $63,923 | 1.96% | | Net Interest Income | | $176,416 | | | Net Yield on Earning Assets | | | 3.95% | - For the nine months ended September 30, 2025, the yield on interest earning assets was **5.38%**, consistent with the prior year, while the cost of interest bearing liabilities decreased to **1.96%** from **2.03%**[32](index=32&type=chunk) [Non-GAAP Reconciliations](index=17&type=section&id=Non-GAAP%20Reconciliations) This section provides reconciliations for non-GAAP financial measures, including net interest income (fully taxable equivalent) and the tangible common equity to tangible assets ratio Tangible Equity Ratio Reconciliation (Sep 30, 2025) | Metric | Value | | :---------------------------------------- | :------ | | Equity to assets ("GAAP") | 11.98% | | Effect of goodwill and other intangibles, net | (2.14%) | | Tangible common equity to tangible assets | 9.84% | [Commercial Loan Information](index=17&type=section&id=Commercial%20Loan%20Information) This table details the commercial loan portfolio by sector, including total outstanding amount, percentage of total loans, average Debt Service Coverage (DSC), and average Loan-to-Value (LTV) ratios Commercial Loan Information (Sep 30, 2025, $ in thousands) | Commercial Sector | Total | % of Total Loans | Average DSC | Average LTV | | :-------------------------------------- | :------- | :--------------- | :---------- | :---------- | | Lessors of Residential Buildings & Dwellings | $495,937 | 11.27% | 1.64 | 67% | | Lessors of Nonresidential Buildings | $606,257 | 13.78% | 1.42 | 65% | | Hotels & Motels | $397,755 | 9.04% | 1.77 | 67% | [Estimated Uninsured Deposits](index=18&type=section&id=Estimated%20Uninsured%20Deposits%20by%20Deposit%20Type) This table presents management's estimate of uninsured deposits by type (noninterest-bearing, interest-bearing demand, savings, and time deposits) for September 30, 2025, and June 30, 2025 Estimated Uninsured Deposits by Deposit Type | Deposit Type | Sep 30, 2025 | Jun 30, 2025 | | :-------------------------------- | :----------- | :----------- | | Noninterest-Bearing Demand Deposits | 17% | 16% | | Interest-Bearing Demand Deposits | 15% | 14% | | Savings Deposits | 13% | 12% | | Time Deposits | 17% | 17% | | **Total Deposits** | **15%** | **15%** | [Net Growth in DDA Accounts](index=18&type=section&id=Net%20Growth%20in%20DDA%20Accounts) This table illustrates the net growth in DDA (Demand Deposit Account) accounts annually from 2018 to 2025, showing new accounts, net new accounts, and percentage growth Net Growth in DDA Accounts | Year | New DDA Accounts | Net Number of New Accounts | Percentage | | :--- | :--------------- | :------------------------- | :--------- | | 2025 | 24,379 | 3,763 | 1.4% | | 2024 | 32,238 | 4,497 | 1.8% | | 2023*| 31,745 | 4,768 | 1.9% |

Core Insights - City Holding (CHCO) reported quarterly earnings of $2.41 per share, exceeding the Zacks Consensus Estimate of $2.15 per share, and up from $2.02 per share a year ago [1][2] - The company achieved a revenue of $81.26 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.34% and increasing from $76.17 million year-over-year [3] Earnings Performance - The earnings surprise for the recent quarter was +12.09%, following a previous quarter surprise of +16.24% where earnings were $2.29 per share against an expectation of $1.97 [2] - City Holding has consistently surpassed consensus EPS estimates over the last four quarters [2] Revenue Insights - The company has also exceeded consensus revenue estimates three times in the last four quarters [3] - Current consensus EPS estimate for the upcoming quarter is $2.15 on revenues of $79.6 million, and for the current fiscal year, it is $8.63 on revenues of $311.9 million [8] Market Performance - City Holding shares have increased approximately 1.6% since the beginning of the year, in contrast to the S&P 500's gain of 14.5% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Context - The Banks - Southeast industry, to which City Holding belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [9]

Core Points - Rain City Resources Inc. has been named the Main Sponsor of the Third Lithium & Energy Summit 2025 in Santiago, Chile, scheduled for October 23, 2025 [1][2] - The Summit will focus on the theme "Regeneration" and will gather global mining leaders, academic institutions, authorities, and Indigenous communities [2] - Rain's CEO, Benjamin Hill, emphasized that the sponsorship places the company at the center of Latin America's lithium innovation ecosystem [2] - Rain is advancing partnerships with universities and research centers in Chile and Argentina, with announcements expected soon [3][4] Company Overview - Rain City Resources Inc. is an integrated critical mineral technology and project development company focused on addressing environmental, social, and economic challenges in lithium extraction [4] - The company is committed to developing scalable, water-conscious direct lithium extraction (DLE) solutions to support the transition to a clean energy future [4] Event Details - Sebastián Quiñones, Rain's Director for Latin America, will present the Lithium Roadmap 2025-2030 and moderate a panel on investments in DLE and clean energy [2] - The panel will include representatives from leading mining companies, research institutions, and technology centers [2][3]

Core Insights - Safe and Green Development Corporation has announced the delivery and deployment of new industrial processing equipment to enhance its operations in Southwest Florida, specifically targeting engineered soils, composting, and green-waste recycling [1][3][4] Equipment Details - The new equipment includes the Komptech Crambo Mobile shredder, which is designed for processing large volumes of organic and woody materials, and the Diamond Z DZH6000 Series grinder, which enhances grinding capacity for wood waste and green debris [2][3] Operational Impact - The newly deployed equipment is expected to improve production capacity, reduce processing times, and enhance overall site efficiency, thereby meeting the growing demand for the company's engineered soil and compost products [3][4] Strategic Alignment - The expansion of processing capabilities aligns with the company's focus on scalable, revenue-generating infrastructure, allowing for greater material processing efficiency and broader product distribution across its composting and recycling network [4] Company Overview - Safe and Green Development Corporation, formed in 2021, focuses on real estate development and environmental solutions, including the operation of an 80+ acre organics processing facility in Florida, which processes source-separated green waste and is expanding into sustainable potting media production [5]

Core Insights - Archer has been designated as the exclusive Air Taxi Partner by the Los Angeles Sports & Entertainment Commission (LASEC), enhancing its presence in Los Angeles and aligning with major upcoming events like the FIFA World Cup 2026 and Super Bowl LXI [1][2][5] Company Initiatives - Archer aims to launch an air taxi network in Los Angeles, connecting key transportation corridors with planned vertiports and partnerships with airlines and infrastructure providers [2][5] - The company will engage with local communities and leaders to lay the groundwork for air taxi flights ahead of the LA28 Olympic Games [1][3] Leadership Involvement - Archer's CEO, Adam Goldstein, will join the ChampionLA Core Leadership Group, while CMO Miles Rogers will be part of the LASEC Advisory Board, providing strategic support [3][4] Technological Advancements - Archer's Midnight aircraft is designed to replace long car trips with safe, quiet electric air taxi flights, aiming to transform urban mobility in Los Angeles [5]

Core Insights - Extreme has announced a series of initiatives to advance its AI strategy, including the launch of the AI Service Agent integrated into Extreme Platform ONE™ [1] Group 1 - The introduction of the AI Service Agent is a significant step in enhancing the capabilities of Extreme Platform ONE™ [1]

Core Insights - Broadway Financial Corporation has appointed Justin Jennings as Executive Vice President and Chief Deposit Officer, focusing on treasury management, banking operations, digital banking, and deposit strategy [1][4]. Company Overview - City First Bank, a subsidiary of Broadway Financial Corporation, is dedicated to uplifting underinvested communities through mission-driven initiatives and offers various commercial loan products and services [5]. Leadership Experience - Justin Jennings previously served as Executive Vice President, Operations Officer at Columbia Bank, where he enhanced deposit operations and client engagement [2][3]. - Jennings has a significant background at JPMorgan Chase & Co., where he held multiple leadership roles, including Executive Director, Head of Treasury Services for Community Development Banking [3]. Strategic Goals - Jennings will play a crucial role in advancing City First Bank's strategic objectives, particularly in deposit growth, treasury management optimization, digital banking enhancement, and overall client experience improvement [4].

Core Insights - Enzo Villani, Chief Investment Officer of AlphaTON Capital, will speak at the 10th Anniversary of the IASC World Changers Summit in Vatican City, focusing on ethics, innovation, and digital transformation [1][2][3] Company Overview - AlphaTON Capital is a digital asset treasury company that focuses on building and managing a strategic reserve of TON tokens and developing the Telegram ecosystem [8] - The company implements a comprehensive treasury strategy that includes direct token acquisition, validator operations, and strategic ecosystem investments to generate sustainable returns for shareholders [8] - AlphaTON Capital provides public market investors with institutional-grade exposure to the TON ecosystem and Telegram's billion-user platform while maintaining governance standards and reporting transparency as a Nasdaq-listed company [8] Leadership and Vision - Enzo Villani has a two-decade career leading initiatives at the intersection of finance, blockchain technology, and global impact [2][7] - Villani's work emphasizes responsible innovation and decentralized technologies to drive human progress, social inclusion, and ethical governance on a global scale [5] Event Significance - The World Changers Summit aims to inspire dialogue between science, ethics, technology, spirituality, and humanity, aligning with Villani's work and worldview [4][5] - The summit is organized by the International Academy of Social Sciences and Cooperation (IASC) and has previously included Nobel Laureates and global leaders [3][6]

Core Points - City Office REIT, Inc. announced that its stockholders approved the merger with MCME Carell Holdings, LP and MCME Carell Merger Sub, LLC [1][2] - The merger is expected to close in the fourth quarter of 2025, with shareholders receiving $7.00 per share in cash [2] Company Overview - City Office REIT is an internally-managed real estate company focused on acquiring, owning, and operating office properties primarily in Sun Belt markets [3] - The company currently owns or has a controlling interest in 4.2 million square feet of office properties and has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes [3]