Company History

More Than 50 Years of Service and Success

2011

• City National opens its first offices in Nashville, Tenn., and Atlanta, principally to better serve the music industry.
• The company acquires substantially all of the deposits and assets of Las Vegas-based Nevada Commerce Bank in its fourth FDIC-assisted transaction.
• City National opens its second office in New York City – this one in the heart of Times Square – and an office in the western Los Angeles communities of Brentwood and Pacific Palisades.

2010

• The company marks its 18th consecutive year of profitability; revenue exceeds $1 billion for the first time.
• City National acquires one of its long-time business partners, Datafaction, a leading provider of accounting and imaging software for business managers, production companies and professional services firms.
• City National acquires its second branch in San Jose, giving the bank a prime downtown location in the nation’s 10th largest city.
• City National acquires the banking operations of Las Vegas-based Sun West Bank and San Diego-Based 1st Pacific Bank of California in FDIC-assisted transactions.
• City National wins 10 Excellence Awards for business banking from Greenwich Associates, a leading global financial services research and consulting firm.
• Barron’s magazine recognizes City National as one of America’s top wealth managers for the 10th consecutive year.

2009

• City National acquires the banking operations of La Jolla, Calif.-based Imperial Capital Bank in an FDIC-assisted transaction.
• The bank establishes a banking office in San Jose – its first in this attractive market – and opens its second branch in downtown San Francisco.
• The company acquires Lee Munder Capital Group, a Boston-based investment firm that manages assets for corporations, pensions, endowments and affluent households, and merges it with Independence Investments.
• The company designates City National Plaza in downtown Los Angeles as the headquarters for both the corporation and its wholly owned subsidiary, City National Bank.

2008

• The bank forms a new commercial banking team at its New York Regional Center.
• City National and the United States Department of Commerce's U.S. Commercial Service announce a partnership to boost exports from U.S. businesses and help simplify international trade, particularly for small- and medium-size businesses.
• The bank opens its Manhattan Beach banking office to better serve the Manhattan Beach-El Segundo business corridor.
• City National's first solar power system – a 48-kilowatt rooftop solar array – goes online at its Inland Empire Regional Center in Riverside. During its lifespan, the system will eliminate the release of more than 1,660 tons of carbon dioxide emissions – the environmental equivalent of more than 5.4 million vehicle miles not driven.

2007

• City National opens a new banking office at Hughes Center in Las Vegas on the same day Business Bank of Nevada unveils its new City National signage.
• City National acquires Business Bank of Nevada with seven offices in Las Vegas, North Las Vegas, Reno, Carson City and Minden, and moves past $15 billion in total assets.
• City National acquires Convergent Wealth Advisors, which provides wealth management consulting services to ultra-high-net-worth individuals and families.
• Bank Director magazine ranks City National No. 10 on its annual Bank Performance Scorecard, which lists the top 150 performing banks in the nation. It is City National’s third consecutive year in the top 10.

2006

• City National acquires Independence Investments, a 24-year-old investment firm that manages assets for foundations, endowments and pension plans.
• City National introduces City National E-Deposit, allowing business clients to scan checks and electronically transmit the images to City National for deposit directly from their office.

2005

• Christopher J. Warmuth is named president of City National Bank, succeeding George H. Benter, Jr., who stepped down after 13 years of service. Mr. Warmuth is only the sixth president in the bank's 52-year history.
• The bank opens a new banking office in the Bunker Hill section of downtown Los Angeles; City National now has four banking offices from which to serve its downtown clients.
• City National marks its 30th anniversary in Orange County, Calif., opening three new banking offices in Anaheim, Irvine and Newport Beach.

• The bank begins its move into the newly renamed City National Plaza in downtown Los Angeles; more than 800 colleagues will occupy 12 of the south tower's 52 stories.
• City National marks its 50th anniversary in business, serving California entrepreneurs, their businesses and their families.

• The bank leases more than 300,000 square feet of office space in a landmark downtown Los Angeles property known for more than 30 years as ARCO Plaza; the property and its south tower will be renamed for City National.
• City National climbs 40 positions in the "Forbes Super 500" to rank No. 460.
• The company acquires Convergent Capital Management LLC, an asset management holding company.
• City National's Walnut Creek and Palo Alto regional centers open.
• City National Corp.'s total assets hit $13 billion and market capitalization tops $3 billion for the first time.

• City National opens an office in New York – its first outside California.
• City National cracks the "Forbes Super 500" list for the first time ever.
• Reading Is The Way Up, City National's statewide literacy program, is launched with a $100,000 grant to support California public school libraries.
• City National acquires Oakland-based Civic BanCorp, nearly doubling its assets in Northern California.

2001

• City National launches new products including Online Cash Management, Online Foreign Exchange and Online Letters of Credit.
• The company updates its brand identity with a new logo as the bank moves into a new century.
• The company's total assets reach $10 billion; assets under management or administration exceed $18 billion.

2000

• City National expands into Northern California with the purchase of The Pacific Bank. Banking offices are located in eight California counties, from San Diego to San Francisco.

1999

• City National purchases American Pacific State Bank, doubling its presence in the San Fernando Valley.
• City National launches Online Banking.

1998

• City National acquires Harbor Bank of Long Beach and adds a 401(k) retirement services capability with the acquisition of San Diego's North American Trust Company.

1997

• City National acquires Riverside National Bank, La Palma-based Frontier Bank and Ventura County National Bancorp.

1996

• City National becomes the largest independent bank headquartered in Southern California.

1995

• Russell Goldsmith is named Chairman and Chief Executive Officer.
• The company makes its first major acquisition, the purchase of First Los Angeles Bank.
• City National has 16 branches and $3.3 billion in total assets.

1990

• City National begins trading on the New York Stock Exchange.

1981

• The Trust Department manages almost $1 billion of trust assets for clients.

1979

• The bank expands to San Diego County with the opening of its La Jolla office.

1978

• City National's total assets top $1 billion for the first time.

1975

• Bram Goldsmith is named Chairman of the Board and Chief Executive Officer.
• City National expands into Orange County, Calif., with the opening of its Newport Beach office. New offices also are opened in Torrance and Encino.

1970

• City National trades for the first time over-the-counter at $19.25 per share.

1967

• City National opens its 24-story Pershing Square office - at the time, one of the tallest buildings in downtown Los Angeles.
• The bank's offerings range from international, trust and investment services to the new all-purpose Master Charge.

1958

• With assets of $66 million, City National ranks 409th among 14,000 U.S. banks.

1955

• City National moves into its corporate headquarters at 400 North Roxbury Drive in Beverly Hills. In 2009, the company shifted its headquarters to City National Plaza in downtown Los Angeles.
• Al Hart is appointed as President of the bank. Later, he would serve as Chairman of the Board and Chief Executive Officer.

1954

• City National Bank opens for business on January 4. The new bank is committed to serving entrepreneurs, professionals and the entertainment and real estate industries.