This is one way of doing it....[pre]
data input(keep=CharColumn);
input CharColumn $;
datalines;
H090304
C090304
I090306
;
run;
proc format;
value $type
'H' = 'Hold from'
'C' = 'Cancel on'
'I' = 'Issued on';
run;
data _format(keep=fmtname start end label);
retain fmtname '$Display';
set input(rename=(CharColumn=start));
end=start;
label=put(substr(start,1,1),type.)!!' '!!substr(start,6,2)!!'/'!!substr(start,4,2);
run;
proc format cntlin=_format; run;
proc print data=input;
format CharColumn $display.;
run;[/pre]