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THE CITY NATIONAL BANK OF CHARLESTON BECOMES A STOCKHOLDER OF THE FEDERAL HOME LOAN BANK OF PITTSBURGH

 PITTSBURGH, Oct. 5 /PRNewswire/ -- James D. Roy, president of the Federal Home Loan Bank of Pittsburgh, announced that The City National Bank of Charleston has become a stockholder of the bank.
 The commercial bank is a subsidiary of City Holding Company (NASDAQ-NMS: CHCO), headquartered in Charleston, W.Va.
 "We are very pleased with City National's decision to become a stockholder in our bank," said Roy. "As a solid and competitive financial institution, they are a welcome addition to our continually increasing member base." Roy continued, "We have been successful in attracting 165 commercial banks as members since 1991, bringing our total membership to 340."
 Commenting on the benefits institutions receive as a result of their membership, Roy said, "Access to long-term funding and assistance with community development are among the top competitive advantages the bank offers to its stockholders."
 City National is a commercial bank located in Charleston. It has six branch offices. As of June 30, 1993, City had assets of $175 million. Its real estate loans and securities amounted to $93 million or 53 percent of total assets. Total deposits were $144 million. City National Bank is the largest subsidiary of City Holding Company, a $554 million holding company located in Charleston. Besides City National Bank, City Holding Company has seven other banking subsidiaries throughout West Virginia.
 Steven J. Day, president and chief executive officer of City, said, "We were attracted by the Federal Home Loan Bank for a number of reasons. We were impressed with the many competitive advantages that membership offered. Coupled with a solid dividend rate, we have access to the bank's low-cost funding which will expand our mortgage lending operations, and enhance our customer service."
 The Federal Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The bank's economical funding, operating and advisory services are available to commercial banks, savings institutions, insurance companies and credit unions. The Pittsburgh bank serves financial institution customers in Delaware, Pennsylvania and West Virginia. The bank had assets of more than $10 billion at June 30, 1993.
 -0- 10/5/93
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank of Pittsburgh, 412-288-2860/
 (CHCO)


CO: Federal Home Loan Bank of Pittsburgh; The City National Bank
 of Charleston; City Holding Company ST: West Virginia, Pennsylvania IN: FIN SU:


KC-DM -- PG004 -- 8758 10/05/93 09:54 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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