City National Corp. reports rise in net income

City National Corp., parent company of wholly owned City National Bank, on Thursday reported third-quarter 2015 net income of $71.8 million, compared to $69.9 million for the same three-month period in 2014.

Earnings per share were $1.18 for the third quarter compared with $1.17 per share for the third quarter of 2014.

Net income for City National for the nine-month period that ended Sept. 30, 2015 totaled $201.9 million, which is up 7 percent from the $189.2 million for the same nine-month period in 2014.

Earnings per share were $3.32 for the first nine months of 2015, up 5 percent from $3.15 for the first nine months of last year.

On Sept. 28, City National also announced that its board of directors had approved a regular quarterly common stock cash dividend of 35 cents per share. The dividend was paid on Oct. 20 to City National common stockholders of record on Oct. 13.

The company's wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 75 offices, including 16 full-service regional centers, in Nevada, Southern California and other U.S. locations.