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Segment Results (Tables)
6 Months Ended
Jun. 30, 2014
Segment Results  
Schedule of segment results

 

 

 

 

For the three months ended June 30, 2014

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

208,413

 

$

474

 

$

10,215

 

$

219,102

 

(Reversal of) provision for credit losses on loans and leases, excluding covered loans

 

(1,000

)

 

 

(1,000

)

(Reversal of) provision for losses on covered loans

 

(1,461

)

 

 

(1,461

)

Noninterest income

 

40,926

 

69,471

 

(9,298

)

101,099

 

Depreciation and amortization

 

2,774

 

1,766

 

4,799

 

9,339

 

Noninterest expense

 

179,904

 

57,159

 

(20,780

)

216,283

 

Income before income taxes

 

69,122

 

11,020

 

16,898

 

97,040

 

Provision for income taxes

 

21,360

 

3,248

 

5,221

 

29,829

 

Net income

 

47,762

 

7,772

 

11,677

 

67,211

 

Less: Net income attributable to noncontrolling interest

 

 

510

 

 

510

 

Net income attributable to City National Corporation

 

$

47,762

 

$

7,262

 

$

11,677

 

$

66,701

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

17,901,508

 

$

 

$

57,683

 

$

17,959,191

 

Covered loans

 

643,690

 

 

 

643,690

 

Total assets

 

18,705,693

 

693,473

 

10,579,781

 

29,978,947

 

Deposits

 

25,584,025

 

73,784

 

254,272

 

25,912,081

 

Goodwill

 

393,177

 

249,445

 

 

642,622

 

Customer-relationship intangibles, net

 

2,692

 

35,778

 

 

38,470

 

 

 

 

For the three months ended June 30, 2013

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

185,040

 

$

247

 

$

17,632

 

$

202,919

 

(Reversal of) provision for losses on covered loans

 

(11,927

)

 

 

(11,927

)

Noninterest income

 

30,555

 

58,472

 

(6,818

)

82,209

 

Depreciation and amortization

 

3,624

 

1,876

 

4,680

 

10,180

 

Noninterest expense

 

171,254

 

48,720

 

(18,725

)

201,249

 

Income before income taxes

 

52,644

 

8,123

 

24,859

 

85,626

 

Provision for income taxes

 

15,715

 

2,287

 

7,420

 

25,422

 

Net income

 

36,929

 

5,836

 

17,439

 

60,204

 

Less: Net income attributable to noncontrolling interest

 

 

463

 

 

463

 

Net income attributable to City National Corporation

 

$

36,929

 

$

5,373

 

$

17,439

 

$

59,741

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

15,379,372

 

$

 

$

54,730

 

$

15,434,102

 

Covered loans

 

909,728

 

 

 

909,728

 

Total assets

 

16,503,312

 

652,737

 

10,313,532

 

27,469,581

 

Deposits

 

22,409,159

 

120,702

 

588,957

 

23,118,818

 

Goodwill

 

393,177

 

249,445

 

 

642,622

 

Customer-relationship intangibles, net

 

5,176

 

40,199

 

 

45,375

 

 

 

 

For the six months ended June 30, 2014

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

398,206

 

$

800

 

$

19,894

 

$

418,900

 

(Reversal of) provision for credit losses on loans and leases, excluding covered loans

 

(1,000

)

 

 

(1,000

)

Provision for losses on covered loans

 

3,194

 

 

 

3,194

 

Noninterest income

 

89,140

 

133,564

 

(20,357

)

202,347

 

Depreciation and amortization

 

5,595

 

3,513

 

9,546

 

18,654

 

Noninterest expense

 

351,972

 

109,892

 

(40,003

)

421,861

 

Income before income taxes

 

127,585

 

20,959

 

29,994

 

178,538

 

Provision for income taxes

 

40,375

 

6,250

 

9,492

 

56,117

 

Net income

 

87,210

 

14,709

 

20,502

 

122,421

 

Less: Net income attributable to noncontrolling interest

 

 

1,209

 

 

1,209

 

Net income attributable to City National Corporation

 

$

87,210

 

$

13,500

 

$

20,502

 

$

121,212

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

17,594,167

 

$

 

$

56,353

 

$

17,650,520

 

Covered loans

 

669,781

 

 

 

669,781

 

Total assets

 

18,473,951

 

675,663

 

10,554,566

 

29,704,180

 

Deposits

 

25,319,356

 

80,738

 

243,238

 

25,643,332

 

Goodwill

 

393,177

 

249,445

 

 

642,622

 

Customer-relationship intangibles, net

 

2,912

 

36,346

 

 

39,258

 

 

 

 

For the six months ended June 30, 2013

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

369,017

 

$

565

 

$

34,410

 

$

403,992

 

(Reversal of) provision for losses on covered loans

 

(2,035

)

 

 

(2,035

)

Noninterest income

 

80,818

 

113,925

 

(19,006

)

175,737

 

Depreciation and amortization

 

7,243

 

3,776

 

9,265

 

20,284

 

Noninterest expense

 

342,201

 

95,749

 

(35,465

)

402,485

 

Income before income taxes

 

102,426

 

14,965

 

41,604

 

158,995

 

Provision for income taxes

 

30,273

 

4,113

 

12,297

 

46,683

 

Net income

 

72,153

 

10,852

 

29,307

 

112,312

 

Less: Net income attributable to noncontrolling interest

 

 

1,048

 

 

1,048

 

Net income attributable to City National Corporation

 

$

72,153

 

$

9,804

 

$

29,307

 

$

111,264

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

15,068,756

 

$

 

$

54,691

 

$

15,123,447

 

Covered loans

 

949,370

 

 

 

949,370

 

Total assets

 

16,244,521

 

648,561

 

10,695,626

 

27,588,708

 

Deposits

 

22,126,242

 

113,563

 

527,035

 

22,766,840

 

Goodwill

 

393,177

 

249,445

 

 

642,622

 

Customer-relationship intangibles, net

 

5,543

 

40,794

 

 

46,337