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Summary: City National Corp. May 11 Product Image

Summary: City National Corp. May 11

  • Published: May 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services' ratings on City National Corp. (CNC; NYSE:CYN) reflect its excellent core deposit funding and liquidity, its consistently solid pretax preprovision operating margin, and the exceptional performance of its residential mortgage portfolio. Geographic concentration in southern California and weak revenue diversification compared with peers' offset the rating strengths. The company's funding remains very strong due to the high level of core deposits funding the loan portfolio--a key rating strength. Core deposits continue to grow through new relationships in small business and wealth management. Core deposits fund the entire loan book, and total deposits exceed loans by more than 10%, as deposits have continued to grow while loan demand remains sluggish during current weak economic conditions. This...

Companies mentioned in this report are: City National Corp.
Action: Review

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City National Corp.

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