CITY NATIONAL BANK Profile
City National Bank is a financial institution that is based out of Los Angeles. The company was first founded in 1954 by Alfred S. Hart with Benjamin N. Maltz serving as the first Chairman. By 1958, the bank would have over $66 million in assets and rank within the top 500 banks in the nation. The bank would begin trading its stocks over the counter in 1970 at $19.25 a share. Bram Goldsmith would then replace Maltz as the chairman and CEO of the bank as the bank expanded into Orange County, Torrance, and Encino in 1975. By 1978, the bank would have over $1 billion in total assets. In the 1990s, the company would begin trading on the New York Stock Exchange under CYN and begin a series of acquisitions including First Los Angeles Bank in 1995, also the same year the Russell D. Goldsmith was named as the new CEO, Ventura County National Bank in 1997, Frontier Bank in 1997, Riverside National Bank in 1997, Harbor Bank in 1998, North American Trust Company in 1998, and American Pacific State Bank in 1999. Right before the turn of the millennia, City National Bank would also launch its online banking system. By 2001, the bank would reach over $10 billion in assets with over $18 billion in assets under management or administration, also updating its branch identity with a new logo this year. Beginning in 2002, the bank would begin to move outside of California, first opening an office in New York and acquiring Civic BanCorp. City National Bank has continued, and will continue to facilitate its growth through acquisitions, expanding towards the east coast beginning in the 2010s. The bank currently has over $32 billion in total assets and provides its services through 75 offices located in California, Nevada, New York City, Nashville, and Atlanta.