Subsequent Event

6 Months Ended

Jun. 30, 2012

Subsequent Event

Subsequent Event

Note 19. Subsequent Event

On July 2, 2012, the Company acquired Rochdale Investment Management (“Rochdale”), a $4.89 billion New York City-based investment firm that manages assets for affluent and high-net-worth clients and their financial advisors across the nation. Rochdale will combine with City National Asset Management to become City National Rochdale Investments, a registered investment advisor which will operate as a wholly owned subsidiary of the Bank. It will offer a wide array of equity, fixed income and non-traditional investment alternatives. The Company expects the integration of the two firms to be completed early next year. At the issuance date of these financial statements, the Company had not completed its initial accounting for this business combination.