LOS ANGELES – City National Bank celebrates its 60th year in business today.
Founded in 1954 by a small group of entrepreneurs to serve entrepreneurs, City National is now the largest bank in Los Angeles and the 25th largest American commercial bank, providing banking, trust and investment services through a network of 77 offices in five states, including California, Nevada, New York, Tennessee and Georgia.
To commemorate its 60th anniversary, City National will donate $1,000 apiece to 60 nonprofit charitable organizations that are nominated by bank colleagues during the year. That’s in addition to the more than $200,000 the bank will award in literacy grants and new books to schools in 2014 through its nonprofit literacy program, “Reading is The way up.®” City National has been profitable in every quarter for the past 21 years – even through the financial crisis that began in 2008. The company now employs 3,500 people, and today it will say “thanks” by buying lunch for all of them.
“The City National story has unfolded in a very dramatic and satisfying way,” said Chairman and CEO Russell Goldsmith. “What sets this company apart is a remarkable team of colleagues and a culture that rests on strong values, great products and services, and exceptional service. We’re grateful to our colleagues and for the opportunity to serve so many remarkable clients.”
About City National
City National Bank is the wholly owned subsidiary of City National Corporation. It is backed by $29.1 billion in total assets, and provides banking, investment and trust services through 77 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The company and its investment affiliates manage or administer $61.5 billion in client investment assets, including $42.8 billion under direct management.
For more information about City National, visit the company’s Website at cnb.com.