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"The best way to fight an enemy is head on- and out in the open."
City National Bank
An ongoing success story
Early days and expansion
City National Bank was born out of a handshake in 1926. Harvard trained entrepreneur Baron de Hirsch Meyer met Leonard Abess, an accountant from Providence, Rhode Island who had come to Miami. From the moment they met, their partnership focused on helping small businesses thrive by making loans to companies that otherwise would not have access to credit.
Nearly a decade after their first encounter, the partners opened the pre-cursor to City National Bank, North Shore Bank in 1946. The bank was located on 71st Street in North Miami Beach.
City National Bank established various banks under the CNB name. When federal regulations allowed, the locations were all merged into one City National Bank of Florida name.
Throughout the next 70 years, City National Bank expanded into Broward, and Palm Beach counties as well as the Orlando and Winter Park communities, building a business and a reputation for practical, prudent banking and a best-in-class client experience. City National Bank continues to grow and evolve, but its foundation remains the same.
Building on stability and service
Under the leadership of Leonard Abess, Jr., City National Bank (CNB) became one of the largest community banks in the nation. CNB grew to more than 20 locations throughout Florida.
As the bank grew, little changed in the way CNB does business. City National Bank continues to focus on the same brand of personal service and relationship banking to which it has always been deeply committed. The bank also remains a strong and stable bank that its clients and the communities it serves can rely on.
Jorge Gonzalez, president and CEO, continues the legacy of leadership and strength for which CNB has always been known. Since he joined the bank in 2009, Mr. Gonzalez has overseen the diversification and expansion of the more than 70-year-old institution to include four main lines of business: Business and Personal Banking, Corporate Banking, Private Client Group and Commercial Real Estate. This business model is client-centered and community driven, with a particular focus on delivering a best-in-class client experience. Under Mr. Gonzalez’s leadership, the bank has grown from $3.5 billion in tangible assets to $8.2 billion in 2016.
Mr. Gonzalez's experience, focus and passion continue to revolve around keeping clients as a top priority and building on the infrastructures, like investing in people and technology, that prepare the bank for continued success.
A partner in prudence, persistence and compassion
In 2008, Caja Madrid was in search of a partner with similar banking practices and values that would serve as their platform for introducing their presence in the U.S.
Caja Madrid approached CNB and after spending time getting to know each other, CNB was sold to Caja Madrid. Little changed at City National Bank after the acquisition.
Caja Madrid strengthened and complemented CNB with greater reach, and additional resources. In 2010, Caja Madrid merged with several other Spanish savings banks to form Bankia.
Due to hardships experienced in Spain, in 2012 Bankia was forced to sell off its assets which included City National Bank.
A winning partnership for you
After a long and thorough vetting process, City National Bank was acquired by Banco de Crédito e Inversiones of Chile in late 2015. The acquisition was the first time a Chilean bank purchased a U.S. domestic financial institution and represented the largest single investment ever by a Chilean company in the United States.
CNB remains a South Florida-based community bank with the same focus on personal relationships and local decision-making. CNB will continue to operate with the well-established and trusted City National Bank name.
This partnership with Bci makes CNB a global community bank backed by one of the strongest banks in Latin America. The acquisition is also good news for the community, as it maintains the more than 70-year-old bank as a Florida headquartered company and preserves a major employer and economic driver in the region.
Bci and CNB have similar cultures and a profound understanding that the client experience is the key to success in banking.
Shortly after the acquisition, CNB launched a new brand image, incorporating a Joan Miro-inspired hour glass with the name of the bank in bold black lettering. The hourglass is representative of the precision with which City National Bank strives to serve its clients, the value it places on their time and the personal relationships it seeks to establish with them that endure time.
City National bank will continue to be the consistent partner clients have come to rely on. It will continue to deliver the best-in-class experience clients have come to expect.
Continued Commitment to the Community
The partnership with Bci puts CNB in a unique and enviable position, making it a community bank with global reach backed by one of the strongest and most respected banks in Latin America. The bank has leveraged this partnership to take the client experience at City National Bank to even higher levels and provide a wider array of products and services for businesses and individuals.
The acquisition is also good news for the community, as it maintains the more than 70-year-old City National Bank as a Florida headquartered company and preserves a major employer and economic driver in the region.
The Office of the Comptroller (OCC) awarded City National Bank with an “outstanding” rating, the highest possible rating, for the bank’s Community Reinvestment Act (CRA) performance. Not only was City National Bank the only bank in Florida to receive this rating in 2015, but it is the only bank in Florida that has received this award for 15 consecutive years.
The bank’s commitment to the community will remain as strong as ever, as it firmly believes that it is only as strong as the communities it serves.
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Registered Agent Name & Address
MARTIN, S. MARSHALL
Officer/Director Detail NONE