City Holding in Charleston, W.Va., is looking to raise up to $55 million in a stock offering. The $3.8 billion-asset parent of City National Bank of West Virginia said in a news release Monday that it is selling shares of common stock at $2.50 each.
The bank plans to use the net proceeds from the offering for general corporate purposes and to support future growth. The additional capital may also be placed in various investment securities, it said.
Keefe, Bruyette & Woods is the sales agent for the offering.