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Segment Results (Tables)
9 Months Ended
Sep. 30, 2014
Segment Results  
Schedule of segment results

 

 

 

For the three months ended September 30, 2014

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

204,965

 

$

452

 

$

10,359

 

$

215,776

 

(Reversal of) provision for credit losses on loans and leases, excluding covered loans

 

(8,000

)

 

 

(8,000

)

Provision for losses on covered loans

 

589

 

 

 

589

 

Noninterest income

 

53,391

 

69,974

 

(15,448

)

107,917

 

Depreciation and amortization

 

2,786

 

1,797

 

5,119

 

9,702

 

Noninterest expense

 

181,632

 

57,726

 

(21,858

)

217,500

 

Income before income taxes

 

81,349

 

10,903

 

11,650

 

103,902

 

Provision for income taxes

 

27,158

 

3,357

 

3,889

 

34,404

 

Net income

 

54,191

 

7,546

 

7,761

 

69,498

 

Less: Net income attributable to noncontrolling interest

 

 

847

 

 

847

 

Net income attributable to City National Corporation

 

$

54,191

 

$

6,699

 

$

7,761

 

$

68,651

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

18,777,758

 

$

 

$

60,002

 

$

18,837,760

 

Covered loans

 

580,200

 

 

 

580,200

 

Total assets

 

19,482,692

 

738,013

 

10,689,909

 

30,910,614

 

Deposits

 

26,481,108

 

71,595

 

277,930

 

26,830,633

 

Goodwill

 

393,176

 

249,079

 

 

642,255

 

Customer-relationship intangibles, net

 

2,335

 

34,689

 

 

37,024

 

 

 

 

For the three months ended September 30, 2013

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

195,112

 

$

242

 

$

18,917

 

$

214,271

 

Provision for losses on covered loans

 

2,496

 

 

 

2,496

 

Noninterest income

 

38,602

 

57,535

 

(7,254

)

88,883

 

Depreciation and amortization

 

3,263

 

1,878

 

4,618

 

9,759

 

Noninterest expense

 

169,862

 

48,341

 

(18,598

)

199,605

 

Income before income taxes

 

58,093

 

7,558

 

25,643

 

91,294

 

Provision for income taxes

 

17,329

 

2,073

 

7,650

 

27,052

 

Net income

 

40,764

 

5,485

 

17,993

 

64,242

 

Less: Net income attributable to noncontrolling interest

 

 

609

 

 

609

 

Net income attributable to City National Corporation

 

$

40,764

 

$

4,876

 

$

17,993

 

$

63,633

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

15,989,181

 

$

 

$

50,572

 

$

16,039,753

 

Covered loans

 

818,928

 

 

 

818,928

 

Total assets

 

17,011,547

 

644,677

 

10,404,910

 

28,061,134

 

Deposits

 

23,817,083

 

76,052

 

408,512

 

24,301,647

 

Goodwill

 

393,176

 

249,446

 

 

642,622

 

Customer-relationship intangibles, net

 

4,445

 

39,024

 

 

43,469

 

 

 

 

For the nine months ended September 30, 2014

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

603,170

 

$

1,253

 

$

30,253

 

$

634,676

 

(Reversal of) provision for credit losses on loans and leases, excluding covered loans

 

(9,000

)

 

 

(9,000

)

Provision for losses on covered loans

 

3,783

 

 

 

3,783

 

Noninterest income

 

142,536

 

203,538

 

(35,810

)

310,264

 

Depreciation and amortization

 

8,381

 

5,310

 

14,665

 

28,356

 

Noninterest expense

 

533,442

 

167,858

 

(61,939

)

639,361

 

Income before income taxes

 

209,100

 

31,623

 

41,717

 

282,440

 

Provision for income taxes

 

67,507

 

9,546

 

13,468

 

90,521

 

Net income

 

141,593

 

22,077

 

28,249

 

191,919

 

Less: Net income attributable to noncontrolling interest

 

 

2,056

 

 

2,056

 

Net income attributable to City National Corporation

 

$

141,593

 

$

20,021

 

$

28,249

 

$

189,863

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

17,993,033

 

$

 

$

57,583

 

$

18,050,616

 

Covered loans

 

639,592

 

 

 

639,592

 

Total assets

 

18,814,042

 

696,527

 

10,600,175

 

30,110,744

 

Deposits

 

25,710,863

 

77,657

 

254,929

 

26,043,449

 

Goodwill

 

393,176

 

249,322

 

 

642,498

 

Customer-relationship intangibles, net

 

2,717

 

35,788

 

 

38,505

 

 

 

 

For the nine months ended September 30, 2013

 

 

 

Commercial and

 

Wealth

 

 

 

Consolidated

 

(in thousands)

 

Private Banking

 

Management

 

Other

 

Company

 

 

 

 

 

 

 

 

 

 

 

Earnings Summary:

 

 

 

 

 

 

 

 

 

Net interest income

 

$

564,132

 

$

803

 

$

53,328

 

$

618,263

 

Provision for losses on covered loans

 

461

 

 

 

461

 

Noninterest income

 

119,418

 

171,461

 

(26,259

)

264,620

 

Depreciation and amortization

 

10,505

 

5,654

 

13,884

 

30,043

 

Noninterest expense

 

511,703

 

144,480

 

(54,093

)

602,090

 

Income before income taxes

 

160,881

 

22,130

 

67,278

 

250,289

 

Provision for income taxes

 

47,712

 

6,071

 

19,952

 

73,735

 

Net income

 

113,169

 

16,059

 

47,326

 

176,554

 

Less: Net income attributable to noncontrolling interest

 

 

1,657

 

 

1,657

 

Net income attributable to City National Corporation

 

$

113,169

 

$

14,402

 

$

47,326

 

$

174,897

 

 

 

 

 

 

 

 

 

 

 

Selected Average Balances:

 

 

 

 

 

 

 

 

 

Loans and leases, excluding covered loans

 

$

15,378,936

 

$

 

$

53,303

 

$

15,432,239

 

Covered loans

 

905,411

 

 

 

905,411

 

Total assets

 

16,502,985

 

647,273

 

10,597,656

 

27,747,914

 

Deposits

 

22,696,050

 

100,922

 

487,093

 

23,284,065

 

Goodwill

 

393,176

 

249,446

 

 

642,622

 

Customer-relationship intangibles, net

 

5,174

 

40,197

 

 

45,371