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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income        
Loans and leases $ 200,405 $ 181,647 $ 588,962 $ 538,343
Securities 40,601 43,863 123,869 128,910
Due from banks - interest-bearing 931 363 1,500 1,183
Federal funds sold and securities purchased under resale agreements 1,203 1,721 3,578 4,568
Total interest income 243,140 227,594 717,909 673,004
Interest Expense        
Deposits 1,877 2,033 5,676 6,227
Federal funds purchased and securities sold under repurchase agreements     79  
Subordinated debt 3,746 4,722 11,239 16,943
Other long-term debt 5,260 5,063 15,568 15,158
Total interest expense 10,883 11,818 32,562 38,328
Net interest income 232,257 215,776 685,347 634,676
(Reversal of) provision for credit losses on loans and leases, excluding acquired impaired loans (6,000) (8,000) 4,000 (9,000)
Provision for losses on acquired impaired loans 1,148 589 2,736 3,783
Net interest income after provision 237,109 223,187 678,611 639,893
Noninterest Income        
Trust and investment fees 57,978 56,834 171,986 164,739
Brokerage and mutual fund fees 11,735 11,021 33,757 35,303
Cash management and deposit transaction charges 12,783 12,200 38,277 36,361
International services 11,686 12,233 34,128 34,111
FDIC loss sharing expense, net (9,854) (9,606) (27,350) (40,850)
(Loss) gain on disposal of assets (1,264) 2,985 384 12,649
Gain on sale of securities 30 14 5,331 7,503
Other 21,777 22,311 72,674 60,771
Impairment loss on securities:        
Total other-than-temporary impairment loss on securities (325) (318) (662) (566)
Less: Portion of loss recognized in other comprehensive income 325 243 325 243
Net impairment loss recognized in earnings   (75) (337) (323)
Total noninterest income 104,871 107,917 328,850 310,264
Noninterest Expense        
Salaries and employee benefits 148,790 142,210 438,039 417,902
Net occupancy of premises 18,168 15,862 50,420 48,551
Legal and professional fees 18,105 14,350 52,391 45,693
Information services 11,658 10,260 32,166 29,069
Depreciation and amortization 9,478 8,276 33,968 23,989
Amortization of intangibles 1,241 1,426 3,844 4,367
Marketing and advertising 7,718 7,576 25,486 26,333
Office services and equipment 4,922 5,038 15,160 15,235
Other real estate owned 1,321 2,360 5,146 6,165
FDIC assessments 5,442 4,629 15,812 8,785
Other operating 11,200 10,927 31,713 29,259
Total noninterest expense 238,043 222,914 704,145 655,348
Income before income taxes 103,937 108,190 303,316 294,809
Income taxes 32,208 37,452 100,489 103,571
Net income 71,729 70,738 202,827 191,238
Less: Net (loss) income attributable to noncontrolling interest (79) 847 954 2,056
Net income attributable to City National Corporation 71,808 69,891 201,873 189,182
Less: Dividends on preferred stock 4,093 4,093 12,281 12,281
Net income available to common shareholders $ 67,715 $ 65,798 $ 189,592 $ 176,901
Net income per common share, basic (in dollars per share) $ 1.20 $ 1.18 $ 3.38 $ 3.19
Net income per common share, diluted (in dollars per share) $ 1.18 $ 1.17 $ 3.32 $ 3.15
Weighted-average common shares outstanding, basic (in shares) 55,829 55,031 55,668 54,893
Weighted-average common shares outstanding, diluted (in shares) 56,687 55,765 56,552 55,616
Dividends per common share (in dollars per share) $ 0.70 $ 0.33 $ 1.40 $ 0.99