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City National Bank history
City National Bank company history timeline
In 1954, City National Bank breaks ground on its first permanent office at 400 North Roxbury Drive in Beverly Hills.
The bank was founded in 1954 by Alfred S. Hart.
In 1955, Alfred “Al” Hart becomes the first president of City National Bank.
In 1959, City National opens its Sunset Doheny office on Sunset Boulevard.
In 1962, a small blue ladder is installed at the head office to help children accompanying their parents reach the teller window.
President Al Hart (left) hosts a star-studded grand opening including guests Rita Moreno (center) and Leslie Parrish (right). In 1962, City National reports that of its 342 employees, 208 are women.
In 1963, when Frank Sinatra’s son was kidnapped, the bank put up the $240,000 demanded as ransom money.
City National Bank was formerly known as City National Bank of Beverly Hills and changed its name to City National Bank in February 1964.
In 1967, the bank officially opens a newly constructed 26-story tower at Pershing Square in Los Angeles, built by Bram Goldsmith and the Buckeye Construction Company.
The company was founded in 1968 and is headquartered in Los Angeles, CA.“
In 1970, City National stock is traded over-the-counter for the first time at $19.25 per share.
In 1970 its stock began trading over the counter.
In 1974, Curtis Palmer succeeds Al Hart as chairman of City National Bank and president of City National Corporation.
In 1975, Bram Goldsmith (seated, left) is named chairman of the board and CEO of City National Bank.
In 1978, the bank’s total assets exceed $1 billion for the first time and commercial loans represent more than 60 percent of all lending activity.
In 1980, the bank champions corporate philanthropy by giving $10 million in funding and loans to the City of Los Angeles’ Neighborhood Business Revitalization Program.
In 1989, City National joins forces with 45 other banks to develop a $100 million loan pool for financing low and moderate income family housing—creating the California Community Reinvestment Corporation.
In 1990, City National bank offers advertisements in Korean, an acknowledgement of California’s growing Korean population.
In 1995, Russell Goldsmith succeeds his father as company chairman and CEO.
In 1998, the bank’s trust and investment assets under administration surpass $10 billion for the first time.
In 2002, in support of the communities it serves, City National launches its Reading is The way up® literacy program.
In 2002, City National opened an office in New York City to serve its California-based clientele who do business on both coasts, as well as prospective clients in Manhattan.
Its offices were in Beverly Hills at 400 North Roxbury Drive until 2004 when its headquarters were relocated to Arco Plaza (later City National Plaza) in Los Angeles.
Since he joined the bank in 2009, Mr.
In 2010, Caja Madrid merged with several other Spanish savings banks to form Bankia.
It then acquired two more banks in 2010: 1st Pacific Bank and Sun West Bank.
In 2011, the bank broadens its entertainment banking presence with offices in Nashville and Atlanta.
In mid-2011, the bank opened a branch in Nashville, Tennessee.
Due to hardships experienced in Spain, Bankia was forced to sell off its assets in 2012, which included City National Bank.
In 2012, it acquired Rochdale Investment Management and First American Equipment Finance.
On April 11, 2017, City National opened its first full-service branch at RBC Plaza in Minneapolis, in conjunction with RBC Wealth Management.
In 2017, CNB launched a subsidiary offering expertise for equipment finance and leasing.
In March 2020, City National launches a redesigned mobile app, one of the bank’s most notable capital projects to date.
In August 2020, City National expands its nationwide footprint with locations in Tysons, VA and Buckhead, GA.
Gonzalez’s leadership, the bank has grown from $3.5 billion in tangible assets to $19.4 billion in 2020, and from 20 banking locations to 32.
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City National Bank competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Citi | 1812 | $74.3B | 210,000 | 2,810 |
| Wintrust Financial | 1991 | $29.9M | 5,057 | 217 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 836 |
| Legg Mason | 1899 | $2.9B | 3,059 | - |
| Ally Financial | 1919 | $6.4B | 8,700 | 5 |
| Bank of the West | 1874 | $2.8B | 9,261 | - |
| City Bank & Trust | 1933 | $13.3M | 75 | - |
| Commercial Bank | 1976 | $13.0M | 52 | 26 |
| Bank of America | 1998 | $85.5B | 200,000 | 6,228 |
| M&T Bank | 1856 | $499.3M | 16,840 | 1,223 |
City National Bank history FAQs
Zippia gives an in-depth look into the details of City National Bank, including salaries, political affiliations, employee data, and more, in order to inform job seekers about City National Bank. The employee data is based on information from people who have self-reported their past or current employments at City National Bank. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by City National Bank. The data presented on this page does not represent the view of City National Bank and its employees or that of Zippia.
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