City National Bank of Florida

City National Bank (CNB) is based in Miami, Florida and was founded in Miami Beach, Florida in 1946. As of July 2013, CNB is the fifth-largest financial institution in the state and fourth-largest financial institution in Miami-Dade County. As of June 2013[1] City National Bank has more than $4.9 billion in assets, 450 employees and 26 locations from Miami-Dade County to the greater Orlando area. City National Bank earned a 5-star "Superior" rating by BauerFinancial,[2][3] the leading bank rating firm. City National Bank is insured by the Federal Deposit Insurance Corporation.[4] In 2013, Chilean bank Banco de Crédito e Inversiones (BCI) subscribed a Share Purchase Agreement to acquire City National Bank for $882 million from Spanish lender Bankia.

History

City National Bank of Florida was established in 1946 when Leonard L. Abess, Sr., Max Orovitz, and Baron de Hirsch Meyer founded the North Shore Bank on 71st Street in Miami Beach. In the 1950s, Industrial National Bank at 46 West Flagler Street was added and the bank moved into new headquarters at 25 West Flagler Street. City National Bank’s corporate offices are located in Miami'a financial district at 1450 Brickell Avenue. City National Bank has branches in Broward and Palm Beach counties as well as the Orlando and Winter Park, Florida communities.

Caja Madrid, based in Spain, approached CNB in early 2008 and purchased the bank. In 2009, Jorge Gonzalez, a 20-year veteran banker with Wachovia, became the president and CEO of City National Bank. In May 2013, Bankia, formerly Caja Madrid, announced that it had signed an agreement to sell City National Bank to Banco de Credito e Inversiones (BCI), based in Chile.[5]

Awards and recognitions

The company features four lines of business – Personal and Business Banking, Corporate Banking, Real Estate Banking and Private Client Banking. It was the first community bank in Florida to offer an iPad banking app for its clients.

CNB was the only retail bank in Florida that had no customer complaints[6] filed against it with state regulators in 2011. The bank posted record earnings in 2012.[7] These benchmarks have earned City National Bank recognition by the community, media and analysts:

City National Bank’s six Board of Directors are Chairman Luis Gabarda Duran, Neisin Kasdin, Daniel Garcia-Pita, Jorge Gonzalez, Rafael Miyar and Mark B. Rosenberg. City National Bank has been recognized for its community involvement and has held an “Outstanding” community reinvestment rating from the Office of the Comptroller of the Currency (OCC) for the past 12 years.

References

  1. ↑ City National Bank financials on the website. http://www.citynationalcm.com/home/about/financial
  2. ↑ [Banking on U.S. Growth]; Chile's Bci makes a big push into Florida August 2013 Florida Trend
  3. ↑ BauerFinancial rates banks four times a year. http://www.bauerfinancial.com/btc_ratings.asp
  4. ↑ http://www.fdic.gov/
  5. ↑ Chile’s BCI to buy City National Bank http://www.bizjournals.com/southflorida/news/2013/05/24/chiles-bci-has-deal-for-city-national.html?page=all
  6. ↑ City National Bank says service is key to having no complaints. http://articles.sun-sentinel.com/2012-03-29/business/fl-city-national-bank-20120329_1_independent-banking-analyst-customer-care-small-bank
  7. ↑ City National Bank Q4 earnings soar to $158M http://www.bizjournals.com/southflorida/news/2013/01/24/city-national-bank-q4-earnings-soar.html?page=all
  8. ↑ The Daily Business Review. http://www.dailybusinessreview.com/index.jsp
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