This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

City National Corporation Grows Second-Quarter 2013 Net Income To $59.7 Million, Up 9 Percent From Second-Quarter 2012; First-Half 2013 Net Income Totals $111.3 Million, Up 10 Percent

Stocks in this article: CYN

NET INTEREST INCOME

Fully taxable-equivalent net interest income was $208.4 million in the second quarter of 2013, down 6 percent from the same period of 2012 but up 1 percent from the first quarter of this year. Fully taxable-equivalent net interest income for the first half of 2013 was $414.7 million, down 3 percent from $426.8 million in the year-ago period.

Average second-quarter deposits were $23.1 billion, up 10 percent from the year-ago period and 3 percent higher than the first quarter of 2013. Average deposits for the first half of 2013 totaled $22.8 billion, up 11 percent from the first half of 2012. Period-end deposits totaled $23.7 billion, up 12 percent from June 30, 2012 and up 3 percent from March 31, 2013.

Average core deposits were $22.4 billion in the second quarter of 2013, up 11 percent from the same period of 2012 and up 3 percent from the first quarter of this year. First-half 2013 average core deposits grew 11 percent from the year-ago period to $22.1 billion.

Second-quarter 2013 average noninterest-bearing deposits were up 17 percent from the same period of 2012 and 4 percent higher than the first quarter of 2013. Average noninterest-bearing balances in the first half of 2013 were up 19 percent from the same period last year.

Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $2.6 billion in the second quarter of 2013, up 21 percent from the same period of last year and up 14 percent from the first quarter of 2013. For the first six months of 2013, Treasury Services deposit balances averaged $2.4 billion, up 18 percent from the first half of 2012. The increases were due primarily to a continued increase in residential refinance activity, as well as existing home sales.

Second-quarter average loan balances, excluding FDIC-covered loans, were $15.4 billion, up 18 percent from the second quarter of 2012 and up 4 percent from the first quarter of 2013. For the first six months of 2013, City National's average loans, excluding FDIC-covered loans, were $15.1 billion, up 18 percent from the year-ago period.

2 of 13

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs