Fresh off a deal that created the third-largest bank in West Virginia, City Holding Co. is selling one of its branches.
City Holding, based in Charleston, has an agreement to sell the Hinton branch of its City National Bank subsidiary to Pocahontas Bankshares, Bluefield, W.Va. Pocahontas, with $295 million of assets, is the parent of two banks in West Virginia and Virginia. The branch will become part of the company's First Century Bank, also based in Bluefield.
On Dec. 31, City Holding closed its $413 million deal for Horizon Bancorp, creating a $2.5 billion-asset company that ranks third in deposits in the state. In the deal, City Holding picked up Horizon's National Bank of Summers subsidiary, which is also based in Hinton.
The branch sale is expected to be completed in the second quarter.