XML 92 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Interest Income      
Loans and leases $ 681,900 $ 690,912 $ 582,755
Securities 159,264 136,760 124,572
Due from banks - interest-bearing 1,504 1,890 1,486
Federal funds sold and securities purchased under resale agreements 422 634 264
Total interest income 843,090 830,196 709,077
Interest Expense      
Deposits 33,685 49,030 60,429
Federal funds purchased and securities sold under repurchase agreements 2 5,292 8,292
Subordinated debt 17,778 18,628 9,940
Other long-term debt 18,634 26,912 6,032
Other short-term borrowings 1 9 331
Total interest expense 70,100 99,871 85,024
Net interest income 772,990 730,325 624,053
Provision for credit losses on loans and leases, excluding covered loans 12,500 103,000 285,000
Provision for losses on covered loans 43,646 76,218  
Net interest income after provision 716,844 551,107 339,053
Noninterest Income      
Trust and investment fees 140,732 134,727 117,062
Brokerage and mutual fund fees 20,440 23,742 27,932
Cash management and deposit transaction charges 44,305 47,593 51,669
International services 36,466 31,297 31,007
FDIC loss sharing (expense) income, net (8,637) 63,335 723
Gain on disposal of assets 20,300 2,837 1,276
Gain on sale of securities 5,066 393 14,286
Gain on acquisition 8,164 27,339 38,206
Other 75,682 32,143 26,481
Impairment loss on securities:      
Total other-than-temporary impairment loss on securities (4,849) (9,513) (33,613)
Less: Portion of loss recognized in other comprehensive income 4,198 7,482 17,168
Net impairment loss recognized in earnings (651) (2,031) (16,445)
Total noninterest income 341,867 361,375 292,197
Noninterest Expense      
Salaries and employee benefits 448,702 409,823 320,276
Net occupancy of premises 54,340 55,567 50,423
Legal and professional fees 49,955 47,641 37,010
Information services 32,097 30,824 27,835
Depreciation and amortization 27,596 25,845 26,219
Amortization of intangibles 7,727 9,036 7,357
Marketing and advertising 28,920 23,112 20,126
Office services and equipment 17,968 16,381 14,995
Other real estate owned 65,044 63,111 8,925
FDIC assessments 29,480 29,055 28,053
Other operating 43,266 40,935 39,868
Total noninterest expense 805,095 751,330 581,087
Income before income taxes 253,616 161,152 50,163
Income taxes 77,561 26,055 (1,886)
Net income 176,055 135,097 52,049
Less: Net income attributable to noncontrolling interest 3,634 3,920 710
Net income attributable to City National Corporation 172,421 131,177 51,339
Less: Dividends and accretion on preferred stock   5,702 25,903
Net income available to common shareholders $ 172,421 $ 125,475 $ 25,436
Net income per share, basic (in dollars per share) $ 3.24 $ 2.38 $ 0.50
Net income per share, diluted (in dollars per share) $ 3.21 $ 2.36 $ 0.50
Shares used to compute net income per share, basic (in shares) 52,439 51,992 50,272
Shares used to compute net income per share, diluted (in shares) 52,849 52,455 50,421
Dividends per share (in dollars per share) $ 0.80 $ 0.40 $ 0.55