City National Bank (CNB), Florida’s premier private and commercial bank, continued its streak of strong financial performance in the second quarter of 2017, posting significant gains in income, lending, deposits and assets. The community bank dedicated to delivering an exceptional client experience is also poised to exceed the $9 billion asset mark for the first time in its long and storied history. The bank has grown by $1.6 billion since the second quarter of last year to $8.9 billion in assets, a 23 percent increase. “The strength of CNB underscores the dedication of our team, the loyalty of our clients and the success of our long-term strategy as the big bank alternative in Florida,” CNB President and CEO Jorge Gonzalez said. “Fueled by continued growth in our core business and our diversification efforts, City National Bank is on track to realize another great year.”
City National Bank (CNB) is the financial institution to which Floridians have turned for 70 years and is one of the largest financial institutions based in the state. Founded on Miami Beach in 1946, the bank remains the leading bank on Miami Beach for business and entrepreneurs. “Putting our clients at the center of every decision we make and building long lasting personal relationships with them has been at the core of our philosophy since the bank was founded,” Gonzalez said. “This focus is even stronger today and as we grow we are keen to make sure that we do this to be even better positioned to serve our clients’ needs.”
At the end of the second quarter, deposits totaled $6.7 billion, up 38 percent from $4.85 billion in the second quarter of 2016. CNB recently launched its Government, Institutional & Non-Profit Banking unit to expand its services to this segment. The formation of this group comes after the bank launched its Orlando-based specialty finance company, City National Capital Finance (CNCF) to serve the financing needs of large and mid-sized companies and provide financing solutions for air, rail, marine vessel and other heavy equipment. The bank also expanded its Tampa team, further enhancing its Central Florida footprint. City National Bank’s expansion in services, products and geography has played a significant role in its steady growth.
“The early results of the government and institutional banking unit have been extremely impressive, providing evidence that that government entities and non-profits can benefit from the same kind of relationship-based banking and superior service experience that has been so well received by our business clients,” Gonzalez noted.
City National Bank has received numerous accolades, and the streak has continued into 2017, with CNB receiving the coveted five-star “Superior” rating – the highest possible – from BauerFinancial, the leading bank ratings firm, for the 20th consecutive quarter. BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.
