Get Banking - Newsroom - City National Bank

Our company has assets of more than $93 billion and is an FDIC member bank. City National is a subsidiary of Royal Bank of Canada (RBC), one of North America's leading diversified financial services companies.

RBC made a $2 billion capital infusion into City National in the third quarter, atop a $950 million contribution in the first quarter, the call report showed. RBC acquired City National in 2015 for $5 billion in cash and shares to fortify its U.S. retail and wealth management business.

TORONTO, Nov. 2, 2015 - Royal Bank of Canada (RY on TSX and NYSE) today announced it has completed the acquisition of City National Corporation ("City National").

Your balance in the program will also be eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage up to applicable limits—currently $250,000 for individual accounts and $500,000 for joint accounts—taking into consideration other accounts you have with City National Bank (City National) in the same ...

About City National * In addition, the company and its investment affiliates manage or administer $98 billion in client investment assets. City National is a subsidiary of Royal Bank of Canada (RBC). For more information about City National, visit the company's website at cnb.com.

City National Bank was formerly known as City National Bank of Beverly Hills and changed its name to City National Bank in February 1964. On January 22, 2015, City National announced a "definitive agreement" to be acquired by the Royal Bank of Canada.

In a report filed with regulators last month, City National said RBC had injected about $2.95 billion into the bank this year. RBC reported adjusted earnings of C$2.78 per share, comfortably beating expectations of C$2.62, ing to LSEG data.

RBC, which bought City National in 2015 for $5.4 billion, said the move is part of management actions to improve profitability at City National.