City National Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported return on average assets of 0.75% against 0.79% a year ago. Return on average common equity was 8.43% against 8.58% a year ago. Return on average tangible common equity was 12.17% against 11.57% a year ago. Book value was $44.50 against $41.77 a year ago. Net interest income was $201,073,000 against $200,713,000 a year ago. Income before taxes was $73,369,000 against $68,227,000 a year ago. Net income available to common shareholders was $49,117,000 or $0.90 per basic and diluted share against $46,265,000 or $0.86 per basic and diluted share a year ago. The company announced that its Board of Directors has maintained and approved a quarterly common stock cash dividend of $0.25 per share, payable on May 15, 2013 to stockholders of record on May 1, 2013. The Board has also authorized a quarterly cash dividend of $13.75 per share on the 5.50% Non-Cumulative Perpetual Preferred Stock, Series C (equivalent to $0.34375 per related depositary share), payable on May 13, 2013 to shareholders of record on April 29, 2013. Management continues to expect net income growth in 2013 to be modest. Nonetheless, loan and deposit balances are expected to increase, and credit quality should remain strong, though rising loan balances may require a slightly higher loan-loss provision. Low interest rates and a very flat yield curve will continue to put pressure on the company's net interest margin. This outlook reflects management's expectations for moderate economic growth throughout 2013.

City National Corp., Q1 2013 Earnings Call, Apr 18, 2013

City National Corp. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on Apr 18, 2013