City National Corporation Officers (Left to right) Bram Goldsmith, Chairman; Frank P. Pekny, Executive Vice President and CFO; Russell Goldsmith, Vice Chairman and CEO; George H. Benter, Jr., President; Jan R. Cloyde, Executive Vice President

TO OUR SHAREHOLDERS
We are pleased to report that, for the sixth consecutive year, City National Corporation has generated record earnings and achieved record levels of assets, loans, deposits and assets under management or administration.

In 2001, City National continued to build shareholder value by executing eight long-standing strategies for consistent, quality growth:

Retaining and broadening relationships with our clients;
Increasing the number of our top-tier client relationships;
Growing noninterest income;
Making focused and disciplined acquisitions;
Maintaining good credit quality and risk management;
Enhancing productivity by utilizing technology and controlling costs;
Investing in the talent and leadership capabilities of our colleagues; and
Maintaining a clear commitment to integrity and strong corporate values.

In sum, we continued to build City National's capabilities and opportunities, its reputation and performance as California's Premier Private and Business Bank^®.