Published: May 15, 2008 11:28 pm      

City National gives $75,000 to back nonprofit groups

LEWISBURG — City National Bank officials donated $75,000 to the Greater Greenbrier Valley Community Foundation — the largest single corporate donation in the foundation’s history — during a ceremony Thursday at the bank’s downtown Lewisburg office.

Charles Hageboeck, president and CEO of City Holding Co., the bank’s parent company, said the six banks operated by City National in Greenbrier County date back to 1871, including the former Bank of Lewisburg and the Bank of Alderson. City National also owns the former National Bank of Marlinton.

“So for 137 years, banks now known as City National have been serving Greenbrier and Pocahontas counties,” Hageboeck said. “ ... we are the largest bank in the county as measured by deposits. In recognition of our loyal customers, we are very pleased to make this special donation for the benefit of the citizens of Greenbrier and Pocahontas counties and the surrounding area.”

Income from City National’s charitable contribution will be used to make grants to nonprofit organizations in the Greenbrier Valley, according to Bill Shiffer, the foundation’s board chair. The established donor-advised fund will preserve its principle and only income will be used to make grants, he said.

“City National Bank has played an important role in the development of the Greater Greenbrier Valley Community Foundation. They have supported us from the beginning by donating office space in their downtown Lewisburg office,” Shiffer said.

“By creating this fund, they are showing the true depth of their commitment by holding a permanent endowment for the people of the Greenbrier Valley.”

A matching gift from the Benedum Foundation of $37,500 will also be used for discretionary grants, according to the foundation.

For more information, contact managing director Barbara Elliot at 645-5620.

— E-mail: cgiggenbach@register-herald.com