City National Bank (California)
| Company type | Subsidiary |
|---|---|
| Industry | Banking and financial services |
| Founded | January 1, 1954 in Beverly Hills, California, United States |
| Founder | Alfred S. Hart |
| Headquarters | Los Angeles, California , United States |
Area served | United States (Southern California, San Francisco Bay Area, Nevada, New York City, Minneapolis, Nashville, Washington, DC, Atlanta) |
Key people | Kelly Coffey (CEO as of 2019) |
| Products | Banking, trust, investment solutions |
| Parent | Royal Bank of Canada |
City National Bank (CNB) is based at City National Plaza in Los Angeles, California. Established in 1957, it has operated as a subsidiary of the Toronto-headquartered Royal Bank of Canada since 2015. CNB is ranked as the 30th largest banking institution within the United States.
Referred to as the "Bank to the Stars," CNB caters primarily to a distinguished clientele in the Hollywood entertainment sector, encompassing television, film, theater, and the arts.
Management
As of June 1, 2022, CNB reported total assets amounting to $91 billion. The bank delivers an extensive range of banking, trust, and investment solutions through 75 branches, including 19 comprehensive regional centers located throughout Southern California, the San Francisco Bay Area, Nevada, New York City, Minneapolis, Nashville, Washington, DC, and Atlanta. Following consolidation activities within Los Angeles banking, CNB has become the largest bank headquartered in the Greater Los Angeles Area. It also provides back-office functions such as check processing services for smaller regional banks. Moreover, CNB oversees $71.7 billion in client investment assets.
Operating as a national bank, City National is regulated by the Office of the Comptroller of the Currency under the jurisdiction of the United States Department of the Treasury. Since 2015, it remains a fully owned subsidiary of the Royal Bank of Canada.
History
City National was established in 1954 by Alfred S. Hart, who appointed Benjamin N. Maltz as its inaugural board chairman. Initially located at 400 North Roxbury Drive in Beverly Hills, the bank moved its headquarters to Arco Plaza (later renamed City National Plaza) in Los Angeles in 2004.
In 1963, during the kidnapping incident involving Frank Sinatra's son, City National provided the ransom payment totaling $240,000. The bank’s stock began trading over-the-counter in 1970.
Throughout the 1990s, City National grew through multiple acquisitions including First Los Angeles Bank (1995), Ventura County National Bank (1997), Frontier Bank (1997), Riverside National Bank (1997), Harbor Bank (1998), North American Trust Company (1998), and American Pacific State Bank (1999). The institution expanded into Northern California by acquiring The Pacific Bank in 2000 and Oakland-based Civic BanCorp in 2002. Additional purchases included Reed, Conner & Birdwell and People's Bank of California in 2001.
In 2002, City National inaugurated an office in New York City to better serve clients on both coasts and continued expanding by acquiring firms such as Convergent Capital Management (2003), Business Bank of Nevada (2006), Convergent Wealth Advisors (2007), Lee Munder Capital Group (2009), and Imperial Capital Bank (2009).
Further acquisitions included 1st Pacific Bank and Sun West Bank in 2010. The bank extended its geographic reach by opening a Nashville branch in 2011. In 2012, it purchased Rochdale Investment Management and First American Equipment Finance.
Originally known as “City National Bank of Beverly Hills,” it shortened its name to “City National Bank” in February 1964.
In January 2015, City National agreed to be acquired by the Royal Bank of Canada for $5.4 billion.
By April 2017, it launched its first full-service branch at RBC Plaza in Minneapolis, integrating with RBC Wealth Management.
Kelly Coffey was appointed as City National’s first female CEO in February 2019, becoming only the fourth individual to hold this position since the bank’s inception.
In January 2023, City National consented to pay $31 million to settle claims brought by the United States Department of Justice alleging lending discrimination between 2017 and 2020.
By September 2024, City National had opened a new branch in Whittier, California, while simultaneously broadening its mortgage grant initiatives and investments within the entertainment sector.
In January 2025, following the Southern California wildfires that month, City National contributed $3 million toward relief efforts. This was done in partnership with its parent company Royal Bank of Canada, which donated $250,000 to support the American Red Cross Disaster Responder Program.
Sponsorships
City National Bank holds a significant sponsorship agreement with the Vegas Golden Knights of the National Hockey League, which includes the naming rights for their training and headquarters facility, known as City National Arena. In 2025, the bank expanded its sports partnerships by becoming the sleeve sponsor for Major League Soccer's LA Galaxy, collaborating alongside its parent company, RBC.
Additionally, the bank serves as the primary sponsor of the Tony Awards, thereby boosting its presence and recognition within the entertainment sector.