{"id":31035,"date":"2012-07-20T12:02:00","date_gmt":"2012-07-20T12:02:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/city-national-corporation-cyn-quarterly-common-stock-cash-dividend-of-0-25-per-share\/31035\/"},"modified":"2012-07-20T12:02:00","modified_gmt":"2012-07-20T12:02:00","slug":"city-national-corporation-cyn-quarterly-common-stock-cash-dividend-of-0-25-per-share","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/city-national-corporation-cyn-quarterly-common-stock-cash-dividend-of-0-25-per-share\/31035\/","title":{"rendered":"City National Corporation &#8211; CYN &#8211; Quarterly common stock cash dividend of $0.25 per share"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>City National Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=CYN\">NYSE:CYN<\/a>)<\/strong>, the parent company of wholly owned City National Bank, today reported second-quarter 2012 net income of $54.8 million, or $1.01 per share, up 15 percent from $47.5 million, or $0.88 per share, in the second quarter of 2011.<\/p>\n<p>Year to date, City National&#8217;s net income totaled $101.0 million, up 16 percent from $87.2 million in the first half of 2011. Earnings per share were $1.87, up 15 percent from $1.62 in the first half of last year.<\/p>\n<p>CYN also announced that its Board of Directors has maintained and approved a quarterly common stock cash dividend of $0.25 per share. The company&#8217;s dividend is payable on August 15, 2012 to stockholders of record on August 1, 2012.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><strong>CYN Second-Quarter 2012 Highlights<\/strong><strong><\/strong><\/p>\n<ul>\n<li>Average second-quarter loan balances, excluding loans covered by City National&#8217;s acquisition-related loss\u2011sharing agreements with the Federal Deposit Insurance Corporation (FDIC), were $13.1 billion, up 14 percent from the second quarter of last year and 6 percent higher than the first quarter of 2012.<\/li>\n<li>Fully taxable-equivalent net interest income amounted to $221.4 million, up 13 percent from the year-earlier period and up 8 percent from the first quarter of 2012.<\/li>\n<li>Second-quarter deposit balances averaged $20.9 billion, up 12 percent from the second quarter of 2011 and up 4 percent from the first quarter of 2012.\u00a0Average core deposits, which equal 97 percent of total balances, were up 13 percent from the second quarter of 2011 and up 4 percent from the first quarter of 2012.<\/li>\n<li>Excluding FDIC-covered loans, second-quarter 2012 results included a $1 million provision for loan and lease losses.\u00a0The company recorded no provision, excluding FDIC-covered loans, in the first quarter of 2012.<\/li>\n<li>On April 30, 2012, City National Bank completed the acquisition of First American Equipment Finance, a privately owned, full-service mid-ticket equipment leasing company with $340\u00a0million in assets, which added $306 million to the company&#8217;s second-quarter period-end loan balances.\u00a0During the second quarter, the bank also announced the acquisition of Rochdale Investment Management, a New York City-based investment firm that manages $4.9 billion of assets for affluent and high-net-worth clients and their financial advisors across the nation. This transaction closed on July 2, 2012.<\/li>\n<li>Second-quarter 2012 earnings included income of $5.9 million from the recovery of a previously charged-off loan and $2.8 million of transaction costs related to the acquisitions of Rochdale Investment Management and First American Equipment Finance.\u00a0Income, net of expense, from FDIC-covered assets, excluding the base yield, totaled $7.3 million in the second quarter, up from $0.9 million in the first quarter of 2012.\u00a0(The base yield is the yield on covered assets, excluding income related to covered loans that are repaid or charged off.)\u00a0The aggregate impact of these three items was after-tax income of $6.0 million, or $0.11 per share.<\/li>\n<li>On June 20, 2012, City National Bank completed a successful offering of $150 million of 10\u2011year subordinated debt securities with a fixed interest rate of 5.375 percent.\u00a0The company will use the proceeds for general corporate purposes.<\/li>\n<\/ul>\n<p><strong>About City National<em> &#8211; <\/em>CYN<\/strong><strong><\/strong><\/p>\n<p>City National Corporation&#8217;s (CYN ) wholly owned subsidiary, City National Bank, provides <a href=\"http:\/\/www.knowfinance.com\/category\/banking\/\" target=\"_blank\" rel=\"noopener\">banking<\/a>, investment and trust services through 78\u00a0offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta.\u00a0The corporation and its investment affiliates manage or administer $58.0\u00a0billion in client investment assets, including $32.1 billion under direct management.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120722051811\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fthestockmarketwatch.com%2Fstock-market-news%2Fcity-national-corporation-cyn-quarterly-common-stock-cash-dividend-of-0-25-per-share%2F31035&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/ge-reports-quarterly-results-ge\/31077\">\nGE Reports Quarterly Results (GE)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-inches-up-boosted-by-russian-central-bank-buying\/31076\">\nGold Inches Up, Boosted by Russian Central Bank Buying<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-end-lower-on-renewed-worries-over-euro-zone-debt-crisis\/31057\">\nStocks End Lower on Renewed Worries over Euro Zone Debt Crisis<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-also-gain-2\/31056\">\nGold Prices Edge Higher; Silver Prices also Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-extend-losses-in-late-trading-3\/31054\">\nStocks Extend Losses in Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/badger-meter-bmi-donates-to-water-buffalos-in-support-of-safe-reliable-water-systems\/31037\">\nBadger Meter &#8211; BMI &#8211;  Donates to Water Buffalos In Support Of Safe, Reliable Water Systems<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/ncr-corporation-ncr-solid-financial-results-in-the-second-quarter\/31036\">\nNCR Corporation &#8211; NCR &#8211; Solid financial results in the second quarter<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported second-quarter 2012 net income of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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