City National Bank
A Los Angeles-based commercial bank known for serving businesses, affluent individuals, wealth-management clients, and the entertainment industry.
Last updated August 22, 2026
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Overview
City National Bank is a commercial bank headquartered at City National Plaza in Los Angeles, California. Founded by Alfred S. Hart as City National Bank of Beverly Hills, the institution developed around relationship-based banking for entrepreneurs, privately held companies, professionals, affluent households, and clients in the entertainment and media industries. Its early Beverly Hills identity helped establish a long-standing connection with Hollywood, and the bank has subsequently been nicknamed the “Bank to the Stars” because of its relationships with clients in film, television, theater, music, and the arts. The bank began expanding beyond its original Beverly Hills base during the late twentieth century. It removed “of Beverly Hills” from its name in 1964 and later built a broader Southern California franchise through a series of bank acquisitions. During the 1990s and early 2000s, it purchased institutions including First Los Angeles Bank, Ventura County National Bank, Frontier Bank, Riverside National Bank, Harbor Bank, North American Trust Company, American Pacific State Bank, The Pacific Bank, Civic BanCorp, and People’s Bank of California. These transactions expanded its branch network and strengthened its commercial-banking presence across California. City National also broadened its activities beyond traditional deposits and lending. It acquired or developed businesses in investment management, wealth advisory, trust services, equipment finance, and bank-processing operations. The institution provides back-office processing, including checking-account processing and check-clearing services, for smaller banks that do not maintain all of those capabilities internally. Its service portfolio includes personal banking, business banking, commercial and specialized lending, treasury management, trust and investment services, wealth management, and entertainment banking. The bank’s geographic strategy has included serving clients whose activities cross regional boundaries. It opened a New York office in 2002 to support California-based clients with business on the East Coast and to develop Manhattan relationships. It later expanded through acquisitions in Nevada and investment management, opened a Nashville branch in 2011, and established a full-service Minneapolis presence in 2017 alongside RBC Wealth Management. Its operating footprint also includes offices and regional centers in several major U.S. markets. In 2015, Royal Bank of Canada agreed to acquire City National. The transaction made City National a wholly owned RBC subsidiary and connected the California-rooted bank with RBC’s broader financial-services platform, including wealth management. City National continues to operate under its own brand and is regulated as a national bank by the Office of the Comptroller of the Currency. It remains particularly associated with high-net-worth customers, commercial enterprises, professional services, and the entertainment sector, while also maintaining a full-service retail and business-banking offering. City National’s public profile includes sponsorships and community initiatives. It holds naming rights for City National Arena, the Vegas Golden Knights’ headquarters and practice facility, sponsors the Tony Awards, and became a sleeve sponsor of LA Galaxy alongside RBC in 2025. In January 2023, it agreed to pay $31 million to resolve U.S. Department of Justice allegations concerning redlining practices. The bank later expanded a mortgage-grant program and announced additional investment connected with the entertainment industry. In January 2025, City National and RBC announced wildfire-relief donations supporting Southern California organizations after devastating regional fires.
History
City National Bank traces its origins to Beverly Hills, where Alfred S. Hart established City National Bank of Beverly Hills in the mid-1950s and recruited Benjamin N. Maltz as the first board chairman. The institution initially operated from 400 North Roxbury Drive and built its identity around personalized service to affluent households, business owners, professionals, and entertainment clients. A notable early episode occurred in 1963, when the bank provided the ransom money demanded during the kidnapping of Frank Sinatra’s son. In February 1964, the institution simplified its name to City National Bank, dropping the geographic suffix. The bank’s shares began trading over the counter in 1970. It subsequently pursued a sustained acquisition strategy, particularly in California. During the 1990s it acquired First Los Angeles Bank, Ventura County National Bank, Frontier Bank, Riverside National Bank, Harbor Bank, North American Trust Company, and American Pacific State Bank. In 2000 it purchased The Pacific Bank and expanded into Northern California; in 2001 it acquired Reed, Conner & Birdwell and People’s Bank of California; and in 2002 it acquired Oakland-based Civic BanCorp. The expansion helped transform City National from a Beverly Hills institution into a larger California commercial bank. During the 2000s, City National added capabilities in investment management, wealth advisory, commercial banking, and out-of-state client service. It opened a New York City office in 2002 to support California clients conducting business on both coasts and to pursue relationships in Manhattan. Subsequent acquisitions included Convergent Capital Management in 2003, Business Bank of Nevada in 2006, Convergent Wealth Advisors in 2007, Lee Munder Capital Group and Imperial Capital Bank in 2009, and 1st Pacific Bank and Sun West Bank in 2010. The bank opened a Nashville branch in 2011, then acquired Rochdale Investment Management and First American Equipment Finance in 2012. City National relocated its headquarters from Beverly Hills to Arco Plaza, later renamed City National Plaza, in Los Angeles in 2004. This move reflected the bank’s broader metropolitan identity and its position as one of the largest banks headquartered in the Greater Los Angeles area. Alongside branch banking, it developed processing services for smaller financial institutions, including checking-account processing and check clearance. In January 2015, Royal Bank of Canada announced a definitive agreement to acquire City National. Following completion of the transaction, City National became a wholly owned RBC subsidiary. The combination gave City National access to a global financial-services parent while preserving its U.S. brand and operating focus. In April 2017, it opened a full-service branch at RBC Plaza in Minneapolis in conjunction with RBC Wealth Management. In October 2018, the bank announced that Kelly Coffey would become chief executive officer in February 2019; she was described as the bank’s first female CEO and its fourth CEO overall. By the 2020s, City National operated a multi-state network of offices and regional centers and offered banking, trust, investment, wealth-management, mortgage, equipment-finance, and entertainment-focused services. The bank also maintained a high-profile sponsorship portfolio, including the Tony Awards and the Vegas Golden Knights, whose headquarters and practice facility is named City National Arena. Its later history has included regulatory and community issues. In January 2023, it agreed to pay $31 million to resolve Department of Justice redlining allegations covering conduct from 2017 through at least 2020. In 2024 it opened a Whittier, California, branch and expanded housing-grant and entertainment initiatives. In 2025, City National and RBC announced contributions to Southern California wildfire relief, while City National also became an LA Galaxy sleeve sponsor.
- 2025
Wildfire relief and LA Galaxy sponsorship announced
[1]City National announced wildfire-relief giving with RBC and became an LA Galaxy sleeve sponsor.
- 2024
Whittier branch opens
[1]The bank opened a new branch in Whittier, California, and expanded its mortgage-grant and entertainment-related initiatives.
- 2023
Redlining allegations resolved
[1]City National agreed to a $31 million resolution with the U.S. Department of Justice concerning alleged redlining.
- 2019
Kelly Coffey becomes CEO
[1]Kelly Coffey took over as chief executive, becoming the bank’s first female CEO.
- 2017
Minneapolis full-service branch opens
[1]City National opened a branch at RBC Plaza in Minneapolis in coordination with RBC Wealth Management.
- 2015
Royal Bank of Canada agrees to acquire City National
[1]RBC announced a definitive agreement to acquire the bank, which subsequently became its wholly owned subsidiary.
- 2011
Nashville branch opens
[1]The bank expanded its physical presence into Nashville, Tennessee.
- 2004
Headquarters move to downtown Los Angeles
[1]City National moved its headquarters from Beverly Hills to Arco Plaza, later known as City National Plaza.
- 2002
New York office opens
[1]The bank established a New York presence to serve California clients operating on both coasts and to develop Manhattan business.
- 1970
Shares begin over-the-counter trading
[1]City National’s stock began trading over the counter.
Products and positioning
A relationship-focused commercial bank serving affluent individuals, privately held businesses, professionals, and entertainment-industry clients, with the resources of Royal Bank of Canada behind a regional U.S. franchise.
Retail banking
Personal Banking
City National provides personal banking services for individuals, including deposit accounts, lending, mortgage-related services, and access to broader financial-planning and wealth capabilities. Its consumer proposition is closely connected to the bank’s relationship model and its focus on affluent customers and professionals.
Business banking
Commercial Banking
Commercial banking is a core City National business, serving privately held companies, entrepreneurs, professional practices, and other operating businesses. Services include deposits, credit facilities, treasury management, cash-management support, and specialized financing tailored to the needs of established businesses.
Specialty banking
Entertainment Banking
Entertainment banking serves participants and companies across film, television, theater, music, and related creative industries. The offering reflects the bank’s long association with Hollywood and is designed around the distinctive cash-flow, production, contract, and wealth needs of entertainment professionals and enterprises.
Wealth management
Wealth Management
City National’s wealth-management platform combines investment, trust, advisory, and planning services for individuals, families, executives, business owners, and institutions. The business was strengthened through acquisitions and operates within a wider relationship that can include banking, lending, custody, and estate-related services.
Specialized lending · 2012
Equipment Finance
Equipment finance provides funding solutions for businesses acquiring or using productive equipment. City National added this capability through its acquisition of First American Equipment Finance and incorporated it into its broader commercial-finance offering.
Financial infrastructure
Bank Processing Services
City National also acts as a processing bank for smaller financial institutions. Its back-office capabilities include checking-account processing and check clearing for banks that do not perform all processing functions internally.
Controversies
Marketing campaigns
- 2025LA Galaxy sleeve sponsorship
Southern California · United States
City National became a sleeve sponsor of Major League Soccer club LA Galaxy in a partnership involving RBC.
Outcome. The arrangement expanded the bank’s sports-marketing presence in its home region.
- 2025Southern California wildfire relief
Southern California · United States
City National announced a $3 million donation supporting nonprofit organizations and other groups assisting communities affected by the 2025 Southern California wildfires, in partnership with RBC.
Outcome. The contribution supported disaster-relief and recovery efforts; RBC separately contributed $250,000 to the American Red Cross Disaster Responder Program.
- Tony Awards sponsorship
United States
City National is the principal sponsor of the Tony Awards, reinforcing its association with theater and the wider entertainment sector.
Outcome. The sponsorship supports brand visibility among theater professionals, audiences, and entertainment-industry stakeholders.
- Vegas Golden Knights partnership
Nevada · United States
City National sponsors the Vegas Golden Knights and holds naming rights to the team’s headquarters and practice facility, City National Arena.
Outcome. The partnership gives the bank a prominent sports and community presence in Nevada.
Brand decisions
2024
Expansion of Whittier and housing initiativesStrategyBackground
City National continued extending its Southern California presence while addressing housing-access priorities.
Action taken
The bank opened a Whittier branch and expanded its mortgage grant program, alongside additional entertainment-industry investment.
Aftermath
The move increased the bank’s local branch presence and broadened its community-oriented housing activity.
2019
Appointment of Kelly Coffey as CEOOtherBackground
The bank announced a planned chief-executive transition in October 2018.
Action taken
Kelly Coffey became chief executive in February 2019.
Aftermath
Coffey became the institution’s first female CEO and its fourth CEO.
2015
Agreement to be acquired by Royal Bank of CanadaM&ABackground
City National had built a multi-state commercial, wealth-management, and specialty-banking franchise and sought a broader financial-services parent.
Action taken
The bank announced a definitive agreement under which Royal Bank of Canada would acquire it.
Aftermath
City National became a wholly owned RBC subsidiary while continuing to operate under the City National brand.
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