Parent Company Only Condensed Financial Statements (Tables) (City National Corporation)

12 Months Ended

Dec. 31, 2014

City National Corporation

Condensed Financial Statements

Schedule of condensed balance sheets of parent company

	December 31,
(in thousands)	2014		2013
Assets
Cash	$	218,896	$	147,439
Securities		39,482		49,213
Other assets		72,289		87,621
Investment in City National Bank		2,755,833		2,583,000
Investment in non-bank subsidiaries		204,383		202,841
Total assets	$	3,290,883	$	3,070,114
Liabilities and shareholders' equity
Long-term debt	$	304,695	$	304,618
Other liabilities		30,356		24,510
Total liabilities		335,051		329,128
Total shareholders' equity		2,955,832		2,740,986
Total liabilities and shareholders' equity	$	3,290,883	$	3,070,114

Schedule of condensed statements of income of parent company

	For the year ended December 31,
(in thousands)	2014			2013		2012
Income
Dividends from Bank and non-bank subsidiaries	$	88,920		$	50,220	$	89,000
Interest and dividend income and other income		24,034			19,644		20,308
(Loss) gain on sale of securities		(82	)		160		930
Impairment loss on securities		(97	)		—		—
Total income		112,775			70,024		110,238
Expense
Interest on other borrowings		16,171			16,437		18,779
Other expenses		9,588			5,922		10,631
Total expenses		25,759			22,359		29,410
Income before taxes and equity in undistributed income of Bank and non-bank subsidiaries		87,016			47,665		80,828
Income taxes (benefits)		1,945			1,775		(3,424	)
Income before equity in undistributed income of Bank and non-bank subsidiaries		85,071			45,890		84,252
Equity in undistributed income of Bank and non-bank subsidiaries		170,748			184,119		123,797
Net income	$	255,819		$	230,009	$	208,049
Less: Dividends on preferred stock		16,375			9,625		—
Net income available to common shareholders	$	239,444		$	220,384	$	208,049

Schedule of condensed statements of comprehensive income of parent company

	For the year ended December 31,
(in thousands)	2014			2013			2012
Net income	$	255,819		$	230,009		$	208,049
Other comprehensive (loss) income, net of tax:
Securities available-for-sale:
Net unrealized (losses) gains arising during the period		(5	)		(1,116	)		111
Reclassification adjustment for net losses included in net income		—			584			—
Total other comprehensive (loss) income		(5	)		(532	)		111
Comprehensive income	$	255,814		$	229,477		$	208,160

Schedule of condensed statements of cash flow of parent company

	For the year ended December 31,
(in thousands)	2014			2013			2012
Cash Flows From Operating Activities
Net income	$	255,819		$	230,009		$	208,049
Adjustments to net income:
Equity in undistributed income of Bank and non-bank subsidiaries		(170,748	)		(184,119	)		(123,797	)
Other, net		15,413			13,287			13,199
Net cash provided by operating activities		100,484			59,177			97,451
Cash Flows From Investing Activities
Purchase of securities available-for-sale		(450	)		(29,942	)		—
Sales and paydowns of securities available-for-sale		11,229			33,806			16,516
Net advances to subsidiaries		—			(100,000	)		(1,335	)
Other, net		17,037			2,275			11,641
Net cash provided by (used in) investing activities		27,816			(93,861	)		26,822
Cash Flows For Financing Activities
Net decrease in other borrowings		—			(205,535	)		(1,875	)
Proceeds from exercise of stock options		27,782			40,466			22,428
Issuance of preferred stock		—			97,536			169,108
Cash dividends paid		(88,908	)		(50,375	)		(80,380	)
Other, net		4,283			4,717			3,089
Net cash (used in) provided by financing activities		(56,843	)		(113,191	)		112,370
Net increase (decrease) in cash and cash equivalents		71,457			(147,875	)		236,643
Cash and cash equivalents at beginning of year		147,439			295,314			58,671
Cash and cash equivalents at end of year	$	218,896		$	147,439		$	295,314