Company History

More Than 50 Years of Service and Success

2007

• City National opens a new banking office at Hughes Center in Las Vegas (giving the company eight locations in Nevada and 62 overall) on the same day Business Bank of Nevada unveils its new City National signage.
• City National acquires Nevada-based Business Bank Corporation, which has seven offices in Las Vegas, North Las Vegas, Reno, Carson City and Minden, and moves past $15 billion in total assets.
• City National acquires Lydian Wealth Management, which changed its name to Convergent Wealth Advisors and became an affiliate of Convergent Capital Management LLC. The firm is headquartered in Washington, D.C. and has offices in New York, Philadelphia, Chicago, Atlanta, Los Angeles, Seattle and Portland, Ore. It offers wealth management consulting services to individuals and families with account minimums of $10 million.
• Barron’s magazine recognizes City National as one of America’s top wealth managers for the seventh consecutive year.
• 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 Bank forms a joint business alliance with The Bank of East Asia Ltd., the largest independent bank in Hong Kong, to benefit clients who invest or do business in China, as well as those seeking Chinese distributors for American-made goods.
• City National acquires Independence Investment LLC, 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. This brings its total number of locations serving the county to seven.

• The bank begins its move into the newly renamed City National Tower in downtown Los Angeles; more than 800 colleagues will occupy 12 of the tower’s 52 stories.
• City National marks its 50th anniversary in business, serving California entrepreneurs, their businesses and their families.
• Total assets exceed $14 billion for the first time.

• 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 with majority interests in eight asset management firms and minority interests in two more.
• 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.
• Total assets hit $11.9 billion, and assets under management or administration top $19 billion.

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.
• The company purchases Reed, Conner & Birdwell, a Los Angeles-based investment management firm specializing in asset management for high-net-worth clients and institutions.
• City National’s total assets reach $9.0 billion.

1999

• City National purchases American Pacific State Bank, doubling its presence in the San Fernando Valley.
• City National launches Online Banking.
• The company's total assets are $7.2 billion.

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. The company's headquarters remain there to this day.
• 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.