I'm happy to say that loans increased for the fourth consecutive quarter and period end balances grew $439 million from year-end 2011. That’s a quarterly increase of 4%. In part it reflected kind of an order of importance for stronger gains in C&I lending. Second, a modest pick up in commercial real estate lending and third, new and refinanced home loans to private client borrowers. So I think there are some positive trends in those numbers in where we’re seeing the growth.Loan production actually reached a new record for City National in the first quarter. At $741 million, it was up 15% from the fourth quarter and 51% from a year ago. Line utilization actually ticked up slightly, but at the same time, it’s still well below our historical levels. We have seen a steady rise in both loan outstandings and loan commitments through last year and now into the first quarter of 2012. And I’m happy to say that our loan pipeline, looking forward, remains healthy.
City National's CEO Discusses Q1 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.