City National Corp. reports 12 increase in net income
One of Southern Nevada’s largest regional banks on Thursday announced second-quarter earnings, reporting a 12 increase in net income.
City National Corp., the parent company of City National Bank, pulled in a record-setting $66.7 million in the last quarter, up from $59.7 million reported a year ago.
Those results follow a slight boost in earnings per share, which hit $1.11, compared to $1.04 per share reported in the second quarter of last year.
For the first half of the year, City National’s net income topped $121.2 million, up 9 percent from $111.3 million reported in the first half of 2013. Regarding earnings for the first half of the year, the bank hit $2.01 per share, up 4 percent from $1.94 from the previous year.
“City National continued its strong momentum with second-quarter net income and assets reaching record levels and across-the-board growth in loans, deposits and wealth management,” said Russell Goldsmith, the company’s chairman and CEO, in a statement. “Credit quality remained quite sound and actually improved.”
Contact reporter Ed Komenda at ekomenda@reviewjournal.com or 702-383-0270. Follow him on Twitter @ejkomenda.
