CITY HOLDING CO (NASDAQ:CHCO) announced that John A. DeRito will retire from his position as Executive Vice President of Commercial Banking, effective December 31, 2025. Timothy J. Whittaker, currently the company's Senior Vice President and Chief Credit Officer, will succeed Mr. DeRito.
Mr. DeRito, who is 75, joined City Holding in June 2004 and has served as Executive Vice President of Commercial Banking for 21 years. During his tenure, the commercial loan portfolio at City National Bank of West Virginia, the company's bank subsidiary, grew from $450 million to over $2.2 billion. Skip Hageboeck, President and Chief Executive Officer, credited Mr. DeRito with expanding the bank's market footprint and maintaining strong asset quality, stating he leaves behind 'a record of growth, integrity, and sound credit practices'.
Mr. Whittaker, 52, has been with City Holding and City National Bank since September 1998, serving as Senior Vice President and Chief Credit Officer for more than two decades. He has been a key partner in the bank's commercial lending strategy. Mr. Whittaker will receive a base salary consistent with the company's executive compensation practices and benefits similar to those disclosed in the company's definitive proxy statement filed on March 28, 2025.
