Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings per Common Share

Schedule of basic and diluted EPS

	For the three months ended September 30,				For the nine months ended September 30,
(in thousands, except per share amounts)	2013		2012		2013		2012
Basic EPS:
Net income attributable to City National Corporation	$	63,633	$	59,780	$	174,897	$	160,803
Less: Dividends on preferred stock	2,407		—		7,219		—
Net income available to common shareholders	$	61,226	$	59,780	$	167,678	$	160,803
Less: Earnings allocated to participating securities	688		842		1,975		2,380
Earnings allocated to common shareholders	$	60,538	$	58,938	$	165,703	$	158,423
Weighted average common shares outstanding	54,274		53,425		54,039		53,092
Basic earnings per common share	$	1.12	$	1.10	$	3.07	$	2.98
Diluted EPS:
Earnings allocated to common shareholders (1)	$	60,543	$	58,941	$	165,716	$	158,432
Weighted average common shares outstanding	54,274		53,425		54,039		53,092
Dilutive effect of equity awards	546		286		425		284
Weighted average diluted common shares outstanding	54,820		53,711		54,464		53,376
Diluted earnings per common share	$	1.10	$	1.10	$	3.04	$	2.97

(1) Earnings allocated to common shareholders for basic and diluted EPS may differ under the two-class method as a result of adding common stock equivalents for options to dilutive shares outstanding, which alters the ratio used to allocate earnings to common shareholders and participating securities for the purposes of calculating diluted EPS.