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City National Corporation Grows First-Quarter 2013 Net Income To $51.5 Million, Up 11 Percent From First-Quarter 2012

"City National has now been profitable in every quarter for 20 consecutive years, and the company has more capital, capabilities, talent, resources and opportunities than ever before.  All in all, it was a good quarter."

  For the three months ended   For the three  
Dollars in millions, March 31, % months ended %
except per share data 2013 2012 Change December 31, 2012 Change
Earnings Per Common Share  $ 0.90  $ 0.86 5  $ 0.87 3
Net Income Attributable to CNC  51.5  46.3 11  47.2 9
Net Income Available to Common          
Shareholders  49.1  46.3 6  47.2 4
Average Assets  $ 27,709.2  $ 23,644.9 17  $ 27,255.9 2
Return on Average Assets 0.75% 0.79% (5) 0.69% 9
Return on Average Common Equity 8.43% 8.58% (2) 8.03% 5
Return on Average Tangible          
Common Equity 1  12.17% 11.57% 5 11.66% 4


Total assets at March 31, 2013 were $27.4 billion, up 14 percent from the first quarter of 2012, but down 4 percent from the fourth quarter of last year. The change from the fourth quarter reflects a seasonal decline in deposits, which led to lower levels of securities. 

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