Subsequent Event

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Event

NOTE TWENTY-SIX – SUBSEQUENT EVENT

On January 22, 2020, the Company announced that City National had entered into an agreement to sell 86,605 shares of Visa Inc. Class B common stock at a pre-tax gain of approximately $17.8 million on January 17, 2020. The carrying value of the Visa Class B shares on City National’s balance sheet was $0, as City National had no historical cost basis in the shares. This transaction settled in January 2020 and will be reported as a gain in the Company’s first quarter 2020 results. The Company has no remaining shares of Visa stock.