City National Bank
Encyclopedia
City National Bank is an American financial institution headquartered in Los Angeles, California
, owned by City National Corporation , with total assets of $21.8 billion (as of September 30, 2010). As of 2011, it is the 25th largest bank in USA. It was founded in 1954.
Media reports have claimed the bank is nicknamed "Bank to the stars" due to its connection with Los Angeles.
City National offers a full complement of banking, trust and investment services through 76 offices, including 17 full-service regional centers, in Southern California
, the San Francisco Bay Area
, Nevada
and New York City
. 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.
City National Bank is a national bank, regulated by the Office of the Comptroller of the Currency, 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
.
In mid-2011, the bank opened a branch in Nashville, Tennessee
to maintain "position as the premier bank to America’s entertainment industry.”
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
, owned by City National Corporation , with total assets of $21.8 billion (as of September 30, 2010). As of 2011, it is the 25th largest bank in USA. It was founded in 1954.
Media reports have claimed the bank is nicknamed "Bank to the stars" due to its connection with Los Angeles.
City National offers a full complement of banking, trust and investment services through 76 offices, including 17 full-service regional centers, in Southern California
Southern California
Southern California is a megaregion, or megapolitan area, in the southern area of the U.S. state of California. Large urban areas include Greater Los Angeles and Greater San Diego. The urban area stretches along the coast from Ventura through the Southland and Inland Empire to San Diego...
, the San Francisco Bay Area
San Francisco Bay Area
The San Francisco Bay Area, commonly known as the Bay Area, is a populated region that surrounds the San Francisco and San Pablo estuaries in Northern California. The region encompasses metropolitan areas of San Francisco, Oakland, and San Jose, along with smaller urban and rural areas...
, Nevada
Nevada
Nevada is a state in the western, mountain west, and southwestern regions of the United States. With an area of and a population of about 2.7 million, it is the 7th-largest and 35th-most populous state. Over two-thirds of Nevada's people live in the Las Vegas metropolitan area, which contains its...
and New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. After the closure or merger of many Los Angeles banks, it has become the largest bank headquartered in the Greater Los Angeles Area
Greater Los Angeles Area
The Greater Los Angeles Area, or the Southland, is a term used for the Combined Statistical Area sprawled over five counties in the southern part of California, namely Los Angeles County, Orange County, San Bernardino County, Riverside County and Ventura County...
. It also acts as a processing bank, providing back office
Back office
A back office is a part of most corporations where tasks dedicated to running the company itself takes place. The term "Back office" comes from the building layout of early companies where the front office would contain the sales and other customer-facing staff and the back office would be those...
services such as checking account processing and check clearance services for smaller local banks that do not do their own processing.
City National Bank is a national bank, regulated by the Office of the Comptroller of the Currency, 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
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
.
History
- Founded by a small group of Beverly Hills entrepreneurs in 1954 (one being Irving Klein).
- Expanded to Northern California in 2000 with the purchase of The Pacific Bank, followed by the acquisition of Oakland-based Civic BanCorp in 2002.
- Opened an office in New York City in 2002 to serve California clients who do business on both coasts and prospective clients in Manhattan.
- Ranked among America's top companies by sales, profits, assets and market value in Forbes magazine's "Super 500" list (2002 and 2003).
- Recognized by Barron's as one of America's top wealth managers five years in a row (2001 - 2005).
- Has an established relationship with many entertainment industry clients. Deals with many exclusive and premier clients from various media: television, film, theater, arts.
In mid-2011, the bank opened a branch in Nashville, Tennessee
Nashville, Tennessee
Nashville is the capital of the U.S. state of Tennessee and the county seat of Davidson County. It is located on the Cumberland River in Davidson County, in the north-central part of the state. The city is a center for the health care, publishing, banking and transportation industries, and is home...
to maintain "position as the premier bank to America’s entertainment industry.”
Acquisitions
- Sun West Bank (2010)
- 1st Pacific Bank (2010)
- Imperial Capital Bank (2009)
- Lee Munder Capital Group (2009)
- Convergent Wealth Advisors (2007)
- Business Bank of Nevada (2006)
- Convergent Capital Management, LLC (2003)
- Civic BanCorp (2001)
- People's Bank of California (2001)
- Reed, Conner & Birdwell (2001)
- The Pacific Bank (2000)
- American Pacific State Bank (1999)
- North American Trust Company (1998)
- Harbor Bank (1998)
- Riverside National Bank (1997)
- Frontier Bank (1997)
- Ventura County National Bank (1997)
- First Los Angeles Bank (1995)
Trivia
- In 1963, when Frank Sinatra'sFrank SinatraFrancis Albert "Frank" Sinatra was an American singer and actor.Beginning his musical career in the swing era with Harry James and Tommy Dorsey, Sinatra became an unprecedentedly successful solo artist in the early to mid-1940s, after being signed to Columbia Records in 1943. Being the idol of the...
son was kidnapped, the bank put up the $240,000 in ransom money. A movie called Stealing SinatraStealing SinatraStealing Sinatra is a 2003 film directed by Ron Underwood. It stars David Arquette and William H. Macy. Macy was nominated for an Emmy Award for his performance.-Cast:*David Arquette as Barry Keenan*William H. Macy as John Irwin...
was made about the incident.