The branch sale and consolidation will bring the number of City National Bank'sBay Area branches to eight - five more than the company had prior to themerger. Among them will be three full-service regional centers in San Francisco,Oakland and Palo Alto.
On Tuesday, City National Bank signed an agreement to sell two former CivicBankbranches to the Bank of Agriculture & Commerce, a privately owned bank based inStockton, Calif. These branches are located in Antioch (1411 A Street) andConcord (901 Sunvalley Blvd.). The transaction is subject to regulatory approvaland expected to close on May 31, 2002. Meanwhile, both branches will be operatedunder CivicBank's name by City National Bank. Clients may continue to use all ofCivicBank's products and services, including their checks, credit cards and ATMcards, as they do now.
Former CivicBank branches in Rossmoor and Palo Alto will be consolidated intonearby City National Bank branches on May 31, 2002. Accounts at the Rossmoorbranch will be moved to City National Bank's Contra Costa office at 2999 OakRoad in Walnut Creek. Accounts at CivicBank's Palo Alto branch will be moved toCity National's branch at 525 University Avenue in Palo Alto. The signage andcomputer systems are scheduled to change on April 27-28, 2002.
CivicBank's loan production office in San Francisco also will be consolidatedinto City National's San Francisco office at 150 California Street.
On December 31, 2001, City National Corporation had assets of $10.2 billion. Thecompany is traded on the New York Stock Exchange under the symbol "CYN." Itswholly owned subsidiary, City National Bank, delivers banking, trust andinvestment services through 53 offices in 11 counties throughout SouthernCalifornia and the San Francisco Bay Area.
For more information about City National, visit the company's website atwww.cnb.com.
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