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City National Bank
Type
Subsidiary
Founded (1954; 63 years ago (1954)) in Beverly Hills, California
Founder Alfred S. Hart
Headquarters 555 South Flower Street
Los Angeles, California 90071
Key people
Alfred S. Hart (founder)
Benjamin N. Maltz (first Chairman)
Russell Goldsmith (Chairman and CEO)
Bram Goldsmith (Chairman Emeritus)
Total assets $35.6 billion
Parent Royal Bank of Canada
Website cnb.com

City National Bank (CNB) is an American financial institution headquartered in the City National Plaza in Los Angeles, California. It has been a wholly owned subsidiary of the Royal Bank of Canada since 2015.

The bank has total assets of $35.6 billion (as of September 30, 2014). It offers a full complement of banking, trust and investment services through 75 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Minneapolis, Nashville and Atlanta. After the closure or merger of many Los Angeles banks, it has become the largest bank headquartered in the Greater Los Angeles Area. It also acts as a processing bank, providing back office services such as checking account processing and check clearance services for smaller local banks that do not do their own processing.

It has an established relationship with many entertainment industry clients, and deals with many exclusive and premier clients from various media, including television, film, theater and the arts. Because of this, media reports have claimed that the bank is nicknamed "bank to the stars".

It is a national bank, regulated by the Office of the Comptroller of the Currency of the United States Department of the Treasury. City National Bank should not be confused with the former Cleveland-based National City Bank, or First National City Bank, the former name of Citibank or City National Bank of Florida, a bank headquartered in Miami, FL.

The bank was founded in 1954 by Alfred S. Hart. He hired Benjamin N. Maltz as the first Chairman of the Board. Its offices were in Beverly Hills at 400 North Roxbury Drive until 2004 when its headquarters were relocated to Arco Plaza (later City National Plaza) in Los Angeles.

In 1963, when Frank Sinatra's son was kidnapped, the bank put up the $240,000 demanded as ransom money. In 1970, its stock began trading over the counter.

In the 1990s, it acquired seven banks: First Los Angeles Bank (1995), Ventura County National Bank (1997), Frontier Bank (1997), Riverside National Bank (1997), Harbor Bank (1998), North American Trust Company (1998), and American Pacific State Bank (1999). In 2000, the bank expanded into Northern California in with the purchase of The Pacific Bank, followed by the acquisition of the Oakland-based Civic BanCorp in 2002. It had also acquired The Pacific Bank in 2000 as well as Reed, Conner & Birdwell and the People's Bank of California in 2001.

In 2002, City National opened an office in New York City to serve its California-based clientele who do business on both coasts, as well as prospective clients in Manhattan. In that decade, it continued to acquire more banks: Convergent Capital Management, LLC (2003), Business Bank of Nevada (2006), Convergent Wealth Advisors (2007), Lee Munder Capital Group (2009), Imperial Capital Bank (2009).

It then acquired two more banks in 2010: 1st Pacific Bank and Sun West Bank. In mid-2011, the bank opened a branch in Nashville, Tennessee. In 2012, it acquired Rochdale Investment Management and First American Equipment Finance.

City National Bank was formerly known as City National Bank of Beverly Hills and changed its name to City National Bank in February 1964.

On January 22, 2015, City National announced a "definitive agreement" to be acquired by the Royal Bank of Canada.

On April 11, 2017, City National opened its first full-service branch at RBC Plaza in Minneapolis, in conjunction with RBC Wealth Management.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2016 2016-04-22 Future report Set alerts
Q4 2015 2016-01-21 Future report Set alerts
Q3 2015 2015-10-22 1.18 1.18
Q2 2015 2015-07-23 1.13 1.13
Q1 2015 2015-04-23 1.01 1.01
Q4 2014 2015-01-22 1.10 1.10
Q3 2014 2014-10-23 1.15 1.15
Q2 2014 2014-07-24 1.11 1.09
Q1 2014 2014-04-24 0.90 0.89
Q4 2013 2014-01-23 0.95 0.95

Ratings

2015-12-03 Reiterated Rating FBR & Co. Market Perform $80.00 to $91.00
2015-12-03 Reiterated Rating FBR & Co Market Perform $80.00 to $91.00
2015-09-15 Reiterated Rating DA Davidson Hold
2015-09-14 Lower Price Target DA Davidson Neutral $93.80 to $88.00
2015-03-09 Reiterated Rating Keefe, Bruyette & Woods Hold $97.00 to $92.00
2015-02-09 Reiterated Rating Keefe, Bruyette & Woods Hold $75.00 to $97.00
2015-02-02 Reiterated Rating FBR & Co. Hold $80.00 to $91.00
2015-01-26 Downgrade Sandler O'Neill Buy to Hold $87.00 to $94.00
2015-01-23 Downgrade Maxim Group Buy to Hold $88.00
2015-01-23 Downgrade Raymond James Outperform to Market Perform $84.00
2015-01-23 Downgrade Raymond James Financial Inc. Outperform to Market Perform $84.00
2015-01-07 Upgrade JPMorgan Chase & Co. Neutral to Overweight $83.00 to $94.00
2015-01-05 Boost Price Target Barclays Equal Weight $82.00 to $85.00
2015-01-05 Boost Price Target Barclays PLC Equal Weight $82.00 to $85.00
2014-11-20 Initiated Coverage Sterne Agee CRT Neutral
2014-10-24 Reiterated Rating Deutsche Bank Hold $78.00
2014-10-24 Reiterated Rating Deutsche Bank AG Hold $78.00
2014-09-22 Initiated Coverage Wells Fargo & Co. Outperform to Market Perform
2014-09-22 Initiated Coverage Wells Fargo Outperform to Market Perform
2014-07-31 Reiterated Rating SunTrust Neutral $79.00 to $83.00
2014-07-31 Downgrade Bank of America Neutral to Underperform $82.00 to $80.00
2014-07-31 Reiterated Rating SunTrust Banks Inc. Neutral $79.00 to $83.00
2014-07-31 Downgrade Bank of America Corp. Neutral to Underperform $82.00 to $80.00
2014-07-28 Boost Price Target Raymond James Outperform $81.00 to $83.00
2014-07-25 Reiterated Rating Jefferies Group Hold $78.00 to $79.00
2014-04-25 Reiterated Rating Deutsche Bank Hold $78.00
2014-03-27 Boost Price Target Morgan Stanley $74.00 to $78.00
2014-03-21 Upgrade Wells Fargo & Co. Market Perform to Outperform $72.00 to $75.00
2014-03-21 Upgrade Wells Fargo Market Perform to Outperform $72.00 to $75.00
2014-01-24 Lower Price Target Deutsche Bank Hold $79.00 to $77.00
2014-01-24 Boost Price Target FBR & Co. $74.00 to $80.00
2014-01-09 Upgrade Bank of America Underperform to Neutral $52.00 to $80.00
2014-01-06 Downgrade Barclays Overweight to Equal Weight $77.00 to $82.00
2013-11-18 Reiterated Rating Deutsche Bank Hold $75.00 to $77.00
2013-11-11 Boost Price Target Morgan Stanley $69.00 to $74.00
2013-10-29 Boost Price Target SunTrust Neutral $73.00 to $78.00
2013-10-28 Boost Price Target Jefferies Group Hold $68.00 to $69.00
2013-10-25 Boost Price Target Sandler O'Neill Buy $74.00 to $78.00
2013-10-25 Boost Price Target Keefe, Bruyette & Woods Market Perform $65.00 to $68.00
2013-10-25 Boost Price Target FBR & Co. Market Perform $70.00 to $74.00
2013-10-25 Boost Price Target Deutsche Bank Hold $72.00 to $75.00
2013-10-25 Boost Price Target Barclays Overweight $72.00 to $77.00
2013-10-25 Reiterated Rating DA Davidson Neutral $67.00 to $75.00
2015-12-03 Reiterated Rating FBR & Co. Market Perform $80.00 to $91.00
2015-12-03 Reiterated Rating FBR & Co Market Perform $80.00 to $91.00
2015-09-15 Reiterated Rating DA Davidson Hold
2015-09-14 Lower Price Target DA Davidson Neutral $93.80 to $88.00
2015-03-09 Reiterated Rating Keefe, Bruyette & Woods Hold $97.00 to $92.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In CYN 5 funds of 2183 total. Show all

Fund name Ticker shares
MANAGED ACCOUNT ADVISORS LLC 0.22M
CITY NATIONAL BANK 0.12M
Placemark Investments, Inc. 8126
VTL Associates, LLC 2605
SHAPIRO ROBERT N 1925

Major Shareholders

Name Relationship Total Shares Holding stocks
OLSON RONALD L 0.04%  (19500) CYN / EIX / GHC /

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