SAN DIEGO--(BUSINESS WIRE)--Feb. 4, 2000--City National Bank (NYSE:CYN) announced today that Jeff Stites has been named senior vice president and manager of the San Diego real estate loan center, based in La Jolla, Calif.
A 15-year veteran of San Diego real estate banking, Stites brings extensive lending experience and a firsthand knowledge of the dynamics of San Diego's construction environment. As senior vice president, Stites' responsibilities include managing City National's construction lending group in San Diego, generating construction loan clients and assisting with client service for the corporate and private banking divisions.
"Jeff has a phenomenal track record and vast experience in the San Diego real estate market," stated Fred Baranowski, senior vice president and San Diego regional manager for City National. "Clients appreciate Jeff tremendously, not only for his expertise in San Diego real estate, but because he enjoys helping his clients succeed, which is essential for building long-term business relationships."
Prior to joining City National, Stites served as senior vice president for San Diego National Bank, managing the construction loan department. He also served as vice president and real estate team leader at Wells Fargo Bank, vice president and manager of the construction loan department at San Diego Trust & Savings and as assistant vice president of the construction industries group at First National Bank. Stites began his banking career at First Interstate Bank of California as a real estate loan officer.
"I am honored to work with the seasoned team of professionals at City National," stated Stites. "After experiencing the ups and downs of San Diego's economy in the last few years, I am more excited than ever to help City National's clients prosper during this dynamic new period of growth in Southern California."
Stites is a member of the Building Industry Association, National Association of Industrial and Office Properties and the Urban Land Institute.
The largest independent bank headquartered in Southern California, City National Bank is a federally chartered, $7.2 billion commercial bank. City National now has 46 banking offices throughout Los Angeles, Orange, San Diego, Riverside, San Bernardino and Ventura counties. City National Corp. recently announced plans to acquire The Pacific Bank, headquartered in San Francisco. That transaction is expected to close in early 2000.
City National Corp. is a publicly owned corporation whose stock is traded on the New York Stock Exchange under the symbol CYN.
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Audrey Doherty, 619/236-1332, Fax 619/236-0683