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City National Bank (CYN) in Los Angeles has combined two wealth management businesses into an investment advisory firm that manages $20 billion.
September 10 -
City National Corp. (CYN) in Los Angeles boosted its quarterly earnings due to improvements in asset quality and increased lending income.
October 25 -
The chairman of City National Corp. in Los Angeles is passing the role to his son.
September 30
City National Corp. (CYN) in Los Angeles has announced the pricing of a $100 million public offering.
The $29 billion-asset City National plans to offer four million shares of preferred stock at $25 per share, according to the company's Thursday press release. Proceeds from the sale will be used for debt repayment and general corporate purposes.
The offering is expected to close in early November.
"In light of City National's significant and continuing growth over the past few years and its strong performance again in the third quarter, the company is responding to favorable market conditions to issue some additional preferred stock that will further enhance its capital and its capacity for growth," Chairman and Chief Executive Officer Russell Goldsmith said in the press release.
Bank of America Merrill Lynch (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM) and Barclays were joint book-running managers for the transaction. The co-manager was RBC Capital Markets.
In September, City National
