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City National Corporation Grows Third-Quarter 2012 Net Income To $59.8 Million, Or $1.10 Per Share, Up 44 Percent From Third-Quarter 2011

Nonaccrual loans at September 30, 2012 were $103.5 million compared to $146.1 million at September 30, 2011 and $98.7 million at June 30, 2012.

  As of September 30, 2012 As of June 30, 2012 As of September 30, 2011
Period-end Loans (in millions) Total Nonaccrual Total Nonaccrual Total Nonaccrual
Commercial $ 6,264.6 $ 18.8 $ 6,087.0 $ 19.0 $ 5,166.8 $ 34.9
Commercial Real Estate Mortgages  2,463.7  36.6  2,424.3  28.8  2,059.1  20.8
Residential Mortgages  3,897.7  11.7  3,822.6  14.1  3,742.8  10.5
Real Estate Construction  242.1  29.0  301.8  29.7  335.7  70.8
Equity Lines of Credit  719.0  6.9  741.3  6.5  728.9  8.4
Other Loans  137.6  0.5  130.2  0.6  130.9  0.7
Total Loans (1) $ 13,724.7 $ 103.5 $ 13,507.2 $ 98.7 $ 12,164.2 $ 146.1
             
Other Real Estate Owned (1)    27.0    34.6    44.5
             
 Total Nonperforming Assets, excluding Covered Assets $ 130.5   $ 133.3   $ 190.6
             
(1) Excludes covered loans, net of allowance, of $1.1 billion, $1.2 billion and $1.6 billion at September 30, 2012, June 30, 2012 and September 30, 2011, respectively, and covered other real estate owned of $83.6 million, $82.8 million and $102.8 million at September 30, 2012, June 30, 2012 and September 30, 2011, respectively.

City National recorded a $2.0 million provision for credit losses in the third quarter of 2012, bringing the total for the year to $3.0 million. The company recorded a $7.5 million provision in the third quarter of 2011.

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