Merger Creates Nevada's Premier Private and Business Bank
New Hughes Center Office Opens,
Giving City National Eight Locations in Nevada
City National Announces Contributions to Support
Teachers and Child Literacy
LAS VEGAS, May 29, 2007 (PRIME NEWSWIRE) -- Business Bank of Nevada today began doing business as City National Bank. Bank executives, clients, government and community leaders and local school district officials marked the occasion by unveiling new City National signs during special events in Las Vegas, Reno and Carson City, and by opening an eighth Nevada office at Hughes Center in Las Vegas.
Among the guests were Carson City Mayor Marv Teixeira, who attended the event in Carson City; Reno Mayor Bob Cashell and Sparks Mayor Gino Martini, both of whom were on hand for the Reno event; and Clark County Commissioner Lawrence Weekly and Las Vegas City Councilman Larry Brown, who participated in the Las Vegas event. Students of several local elementary schools also joined bank executives at today's events.
City National and Business Bank of Nevada announced plans to join forces in November 2006, and completed their merger on February 28 of this year. As of today, all of the bank's clients in Nevada will enjoy full access to an expanded array of financial solutions, including wealth management, private banking, international banking services, entertainment, cash management, and much more, as well as access to City National's 54 banking offices in California and one in New York City.
"We're pleased to announce today that the clients, colleagues and Business Bank of Nevada are now City National Bank in Nevada," said Chairman and Chief Executive Officer Russell Goldsmith. "Our newly combined company blends the best of both banks to bring greater capabilities and complete world-class financial solutions to Nevada's entrepreneurs, professionals, their businesses and their families on The Way Up. All of this will be delivered from eight Nevada offices by John Guedry and his outstanding Nevada team, backed by more than $15 billion in bank assets as well as our wealth management capabilities that manage or administer $55 billion in client investments."
The new City National banking office at Hughes Center in Las Vegas, located at 3883 Howard Hughes Parkway, Suite 100, opened today. It is a full-service office, providing all of the bank's resources, including commercial and private banking, wealth management, business trust and investment services, international banking and cash management.
Guedry, executive vice president and head of City National Bank in Nevada, spoke at the unveiling celebration in Las Vegas.
"It has taken a lot of hard work and long hours on the part of colleagues in both Nevada and California to get us to this point today," he said, "but we are very excited to finally be able to say we're City National Bank when we answer our phones or when we introduce ourselves at community events. We look forward to providing clients with a broad set of products and services that will help them become more successful in their professional and personal lives."
City National Bank today also announced two new educational outreach programs that will recognize outstanding teachers and help improve student literacy. The bank has teamed up with Fox 5 News in Las Vegas for a program called "One Class at a Time" that will recognize and reward teachers throughout the Clark County School District. Each month City National will provide the winning teacher with a $1,000 cash award. Teacher nomination forms are available online at www.fox5vegas.com or at any City National Bank branch in southern Nevada.
Additionally, the bank introduced its Reading Is The Way Up(r) literacy program to educators and students who attended today's events. This program, which was launched five years ago in California, will provide schools in Nevada with book donations, literacy grants, volunteer reading programs and more. At today's ceremonies, City National reaffirmed its commitment to education, including adoption of at-risk elementary schools. The company presented four at-risk elementary schools with $500 apiece and more than 1,000 new books. The schools are Helen Jydstrup Elementary in Las Vegas, Lois Craig Elementary in North Las Vegas, John C. Fremont Elementary in Carson City, and Elmcrest Elementary in Reno.
About City National
City National Bank is the wholly-owned subsidiary of City National Corporation (NYSE:CYN). It is backed by more than $15 billion in assets and provides banking, investment and trust services through 62 offices, including 15 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. The company and its nine majority-owned investment affiliates manage or administer more than $55 billion in client investment assets, including nearly $35 billion under direct management.
City National has eight branch offices in Nevada, including four in Las Vegas and one each in North Las Vegas, Reno, Carson City and Minden. The bank also has loan production offices in Reno and Stateline in South Lake Tahoe.
For more information about City National, visit the company's websites at www.cnb.com.
The City National Bank logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3143