Fee income from foreign exchange services and letters of credit totaled $11.3 million in the fourth quarter of 2012, up 29 percent from the fourth quarter of 2011 and 16 percent higher than the third quarter of 2012. Full-year 2012 foreign exchange services and letters of credit fee income totaled $40.0 million, up 10 percent from 2011. The increases largely reflect increased client activity and the addition of new relationships.Other income was $24.2 million in the fourth quarter of 2012, up 39 percent from the fourth quarter of 2011 but down 13 percent from the third quarter of 2012. The increase from the year-ago period was due largely to the First American acquisition, as well as growth of income from client swap transactions and higher distribution income from investments. The increase was partly offset by lower gains on transfers of covered loans to OREO. Other income for the full-year 2012 was $82.9 million, up 9 percent from 2011.
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
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