City National Corp. says full-year net income up 11 percent in ‘14

City National Corp., parent company of wholly owned City National Bank, on Thursday reported record full-year net income of $255.8 million in 2014, up 11 percent from $230 million in 2013.

Earnings per share were $4.26, compared with $3.99 per share in 2013.

Fourth-quarter 2014 net income totaled $66 million, up 20 percent from $55.1 million in the year-ago period. Earnings per share were $1.10, up 16 percent from $0.95 per share in the fourth quarter of 2013.

City National also announced that its board of directors has increased the company’s quarterly common stock cash dividend from 33 cents per share to 35 cents per share payable Feb. 18 to stockholders of record on Feb. 4.

According to the company’s website, City National Bank operates five branches in the Las Vegas Valley.