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City National Corporation Grows 2012 Net Income To $208.0 Million, Up 21 Percent From 2011; Fourth Quarter 2012 Net Income Totals $47.2 Million, Or $0.87 Per Share

Fourth-quarter net interest income included $17.5 million from the FDIC-covered loans that were repaid or charged off during the quarter. This compares with $18.9 million in the fourth quarter of 2011 and $22.2 million in the third quarter of 2012.

At December 31, 2012, City National's prime lending rate was 3.25 percent, unchanged from both December 31, 2011 and September 30, 2012.

  For the three months ended   For the three  
  December 31, % months ended %
Dollars in millions 2012 2011 Change September 30, 2012 Change
Average Loans and Leases,          
excluding Covered Loans  $ 13,984.2  $ 12,213.4 14  $ 13,587.5 3
Average Covered Loans  1,089.9  1,554.2 (30)  1,207.0 (10)
Average Total Securities   9,652.7  7,641.5 26  8,631.4 12
Average Earning Assets  25,468.0  22,083.9 15  23,892.0 7
Average Deposits  23,386.3  20,500.1 14  21,940.8 7
Average Core Deposits  22,781.3  19,781.8 15  21,208.5 7
Fully Taxable-Equivalent          
Net Interest Income  209.1  206.0 1  214.8 (3)
Net Interest Margin  3.27%  3.70% (12)  3.58% (9)

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.0 billion at the end of the fourth quarter of 2012, compared to $1.5 billion at December 31, 2011 and $1.2 billion at September 30, 2012.

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