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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest income        
Loans and leases $ 174,059 $ 186,071 $ 344,349 $ 354,173
Securities 41,223 43,549 85,486 88,935
Due from banks - interest-bearing 158 173 270 266
Federal funds sold and securities purchased under resale agreements 1,555 96 2,690 107
Total interest income 216,995 229,889 432,795 443,481
Interest expense        
Deposits 2,990 3,566 5,930 7,599
Federal funds purchased and securities sold under repurchase agreements 123 1 400 32
Subordinated debt 6,117 4,308 12,223 8,369
Other long-term debt 4,722 5,535 9,701 10,289
Other short-term borrowings 124   549  
Total interest expense 14,076 13,410 28,803 26,289
Net interest income 202,919 216,479 403,992 417,192
Provision for credit losses on loans and leases, excluding covered loans   1,000   1,000
Provision for losses on covered loans (11,927) 13,293 (2,035) 20,759
Net interest income after provision 214,846 202,186 406,027 395,433
Noninterest income        
Trust and investment fees 49,830 34,067 96,483 67,721
Brokerage and mutual fund fees 8,107 5,293 16,173 10,321
Cash management and deposit transaction charges 12,880 11,475 25,889 22,643
International services 10,911 10,017 20,530 18,802
FDIC loss sharing expense, net (26,477) (6,026) (30,829) (5,160)
Gain on disposal of assets 949 3,011 2,063 5,202
Gain (loss) on sale of securities 5,790 (279) 6,836 170
Other 20,401 17,388 38,774 30,947
Impairment loss on securities:        
Total other-than-temporary impairment loss on securities (422) (4,129) (422) (4,129)
Less: Portion of loss recognized in other comprehensive income 240 3,951 240 3,951
Net impairment loss recognized in earnings (182) (178) (182) (178)
Total noninterest income 82,209 74,768 175,737 150,468
Noninterest expense        
Salaries and employee benefits 127,168 115,035 255,363 235,280
Net occupancy of premises 16,205 14,056 32,194 27,742
Legal and professional fees 13,163 11,359 24,775 23,239
Information services 9,183 8,539 18,574 16,688
Depreciation and amortization 8,249 8,013 16,421 15,441
Amortization of intangibles 1,931 1,518 3,863 3,404
Marketing and advertising 8,644 7,597 16,960 14,413
Office services and equipment 5,034 4,492 9,980 8,440
Other real estate owned 4,385 7,541 9,635 19,635
FDIC assessments 3,663 4,523 9,144 9,002
Other operating 13,804 11,843 25,860 21,952
Total noninterest expense 211,429 194,516 422,769 395,236
Income before income taxes 85,626 82,438 158,995 150,665
Income taxes 25,422 27,271 46,683 48,990
Net income 60,204 55,167 112,312 101,675
Less: Net income attributable to noncontrolling interest 463 409 1,048 652
Net income attributable to City National Corporation 59,741 54,758 111,264 [1] 101,023 [1]
Less: Dividends on preferred stock 2,406   4,812  
Net income available to common shareholders $ 57,335 $ 54,758 $ 106,452 $ 101,023
Net income per common share, basic (in dollars per share) $ 1.05 $ 1.02 $ 1.95 $ 1.88
Net income per common share, diluted (in dollars per share) $ 1.04 $ 1.01 $ 1.94 $ 1.87
Weighted average common shares outstanding, basic (in shares) 54,105 53,105 53,919 52,923
Weighted average common shares outstanding, diluted (in shares) 54,477 53,373 54,280 53,217
Dividends per common share (in dollars per share) $ 0.25 $ 0.25 $ 0.25 $ 0.50
[1] Net income excludes net income attributable to redeemable noncontrolling interest of $1,048 and $652 for the six month periods ended June 30, 2013 and 2012, respectively. Redeemable noncontrolling interest is reflected in the mezzanine section of the consolidated balance sheets. See Note 18 of the Notes to the Unaudited Consolidated Financial Statements.