EXHIBIT 99.1

City National Corp. Reports 2010 Fourth-Quarter Net Income of $39.7 Million, Up 37 Percent From Fourth Quarter of 2009; Full-Year Net Income Totals $131.2 Million

Fourth-quarter EPS up 95 percent

Full-year revenue grows 19 percent, exceeds $1 billion for the first time

Credit quality improves for fifth consecutive quarter

Company doubles quarterly dividend to $0.20 per share

LOS ANGELES, Jan. 20, 2011 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported fourth-quarter 2010 net income and net income available to common shareholders of $39.7 million, or $0.74 per share. In the fourth quarter of 2009, net income was $29.1 million, while net income available to common shareholders was $19.7 million, or $0.38 per share.

Full-year 2010 net income totaled $131.2 million, up 156 percent from 2009. Net income available to common shareholders amounted to $125.5 million, or $2.36 per share. In 2009, the company earned net income of $51.3 million, while net income available to common shareholders amounted to $25.4 million, or $0.50 per share.

Fourth-quarter 2010 net income included an after-tax charge of $3.9 million for the redemption of trust preferred securities and a $3.4 million non-cash charge related to one of the company's affiliated investment advisors. Excluding these items, fourth-quarter net income totaled $47.1 million, or $0.88 per share.¹

City National also announced today that its Board of Directors has increased the company's quarterly common stock cash dividend to $0.20 per share. The dividend will be payable on February 16, 2011 to stockholders of record on February 2, 2011.

FOURTH-QUARTER AND YEAR-END 2010 HIGHLIGHTS

• Fourth-quarter revenue totaled $280.2 million, up 2 percent from the fourth quarter of 2009. Revenue for the full year reached $1.1 billion, up 19 percent from 2009. 
   
• Fully taxable-equivalent net interest income amounted to $188.3 million, up 14 percent from the fourth quarter of 2009, but down 1 percent from the third quarter of 2010. Fully taxable-equivalent net interest income for the full-year 2010 was $743.5 million, up 17 percent from 2009.
   
• Average fourth-quarter deposits grew to $18.7 billion, up 19 percent from the same period of 2009 and 2 percent from the third quarter of 2010. Average core deposits were $17.7 billion, up 22 percent from the fourth quarter of 2009 and 3 percent from the third quarter of 2010. Year-end deposits grew to $18.2 billion, up 5 percent from December 31, 2009.
   
• Average fourth-quarter loan balances, excluding loans covered by City National's acquisition-related loss-sharing agreements with the FDIC, totaled $11.4 billion, down 6 percent from the same period of 2009 but virtually unchanged from the third quarter of 2010. Average commercial loan balances grew for the second consecutive quarter, up 3 percent from the third quarter of 2010. Year-end loans totaled $11.4 billion, down 6 percent from 2009. 
   
• Fourth-quarter 2010 net income includes a $3.0 million provision for credit losses on non-FDIC covered loans, 77 percent lower than it was in the third quarter of 2010. Net charge-offs declined 33 percent from the third quarter of 2010, while nonperforming assets, excluding FDIC-covered assets, decreased 17 percent.
   
• On October 16, 2010, the company completed the redemption of $250 million of 9.625 percent cumulative trust preferred securities, using most of the net proceeds from a third-quarter 2010 issue of $300 million of 10-year 5.25 percent senior notes.
   
• On November 15, 2010, City National completed the relatively small, but strategically important acquisition of a Los Angeles-based accounting software firm, Datafaction, which will complement the bank's proprietary cash management solutions available to its business clients.

"City National's dramatically increasing profitability in 2010 reflects significant improvement in credit quality and double-digit increases in revenue, net interest income and deposits," said President and Chief Executive Officer Russell Goldsmith.

"City National has emerged from the recession larger, financially stronger and better able to serve its growing client base. In 2010, the company continued to invest significantly in its capabilities by hiring talented colleagues, upgrading technology, introducing new products and expanding its presence in California and Nevada. The completion of three FDIC-assisted acquisitions in 2009 and 2010 has given us 10 additional branches. In 2011, we will continue City National's growth investments and expansion with a second office in New York and the addition of three more offices in Southern California and San Jose. City National's core earnings power and its capital base are strong, as evidenced by today's dividend increase, and the company is well-positioned for the continuing but moderate economic recovery and the opportunities it presents."

ASSETS

Total assets at December 31, 2010 were $21.4 billion, up 1 percent from year-end 2009.

REVENUE

Fourth-quarter revenue was $280.2 million, up 2 percent from the fourth quarter of 2009 and 10 percent from the third quarter of 2010.  Full-year 2010 revenue was $1.1 billion, up 19 percent from the previous year. Fourth-quarter 2009 results included a $38.2 million gain on an FDIC acquisition.

NET INTEREST INCOME AND DEPOSITS

Fully taxable-equivalent net interest income totaled $188.3 million in the fourth quarter of 2010, up 14 percent from the same period in 2009 but down 1 percent from the third quarter of 2010. Fully taxable-equivalent net interest income for the full-year 2010 was $743.5 million, compared with $637.9 million for the previous year.

Fourth-quarter average deposits grew to $18.7 billion, up 19 percent from the same period of 2009 and 2 percent from the third quarter of 2010. Average deposits for the full-year 2010 totaled $17.9 billion, up 25 percent from 2009. Period-end deposits grew to $18.2 billion, up 5 percent from December 31, 2009.

Average core deposits were $17.7 billion in the fourth quarter of 2010, up 22 percent from the same period of 2009 and 3 percent from the third quarter of 2010.  Full-year 2010 average core deposits grew 28 percent from the prior year to $16.8 billion.  Core deposits now represent 94 percent of the company's average deposit balances.

Fourth-quarter average noninterest-bearing deposits were up 11 percent from the same period of 2009 and 6 percent from the third quarter of 2010. Average noninterest-bearing balances in 2010 were up 17 percent from 2009.

Treasury Services deposit balances, which consist primarily of title, escrow, community association and property management deposits, averaged $1.5 billion in the fourth quarter of 2010, up 44 percent from the same period of 2009 and 1 percent from the third quarter of 2010. For the full-year 2010, Treasury Services deposit balances averaged $1.4 billion, up 47 percent from 2009. 

Fourth-quarter average loans, excluding FDIC-covered loans, totaled $11.4 billion, down 6 percent from the same period of 2009 but virtually unchanged from the third quarter of 2010. For the full-year 2010, City National's average loans, excluding FDIC-covered loans, were $11.6 billion, down 6 percent from 2009. The declines reflect relatively weak loan demand due to challenging business and economic conditions, along with the company's continued progress in reducing the number of problem loans.

Fourth-quarter average balances for commercial loans were down 5 percent from the fourth quarter of 2009 but up 3 percent from the third quarter of 2010. Average balances for commercial real estate and construction loans together were down 19 percent from the year-ago period and 5 percent from the third quarter of 2010. Average balances for single-family residential mortgage loans, nearly all of which are made to City National's private banking clients, were up 1 percent from the fourth quarter of 2009 but virtually unchanged from the third quarter of 2010.

Average securities for the fourth quarter of 2010 totaled $5.4 billion, up 40 percent from the same period of 2009 and 9 percent from the third quarter of 2010. The increases reflect the company's strong deposit growth and relatively weak loan demand due to economic conditions. The average duration of total available-for-sale securities at December 31, 2010 was 2.8 years, compared with 2.9 years at the end of 2009 and 2.1 years at September 30, 2010.

City National's net interest margin in the fourth quarter of 2010 averaged 3.71 percent, compared with 3.74 percent in the fourth quarter of 2009 and 3.84 percent in the third quarter of 2010.  For the full-year 2010, City National's net interest margin averaged 3.86 percent, compared with 3.91 percent in the previous year.  The declines were due primarily to strong growth in deposits, which were invested in securities available-for-sale and other liquid assets, as well as lower loan balances.

Fourth-quarter net interest income included $7.0 million from the acceleration of a discount recognized for covered loans that were repaid or charged off during the quarter.  This compares with $9.2 million of additional net interest income in the third quarter of 2010.

At December 31, 2010, City National's prime lending rate was 3.25 percent, unchanged from both December 31, 2009 and September 30, 2010.

COVERED ASSETS

Loans and OREO assets acquired in City National's three FDIC-assisted bank acquisitions totaled $1.9 billion at the end of the fourth quarter of 2010.

In the fourth quarter, the company recorded a $1.9 million non-cash net gain to reflect results of the quarterly update of cash-flow projections for FDIC-covered loans. The gain reflected a provision for loan losses of $21.5 million for covered loans offset by $23.4 million of other income from City National's loss-sharing agreements with the FDIC. City National will continue to update the cash-flow projections for covered loans on a quarterly basis. Due to the uncertainty in the future performance of the covered loans, additional impairments or gains may be recognized in the future.

NONINTEREST INCOME

Fourth-quarter noninterest income totaled $95.1 million, down 15 percent from the same period in 2009. Results for the fourth quarter of 2009 included a $38.2 million gain on an FDIC-assisted acquisition. Fourth-quarter 2010 results included $26.3 million of FDIC loss-sharing income, compared with $0.7 million in the same quarter of 2009. Noninterest income was up 42 percent from the third quarter of 2010, reflecting FDIC loss-sharing income and an increase in wealth management revenue.

City National's noninterest income totaled $361.4 million in 2010, up 24 percent from 2009, due to the same factors cited above. In 2010, noninterest income accounted for 33 percent of City National's total revenue.

Wealth Management

City National's assets under management totaled $36.8 billion as of December 31, 2010, up 4 percent from the end of 2009 and 3 percent from September 30, 2010. These changes were primarily attributable to increases in equity market values.

Trust and investment fees grew to $34.5 million in the fourth quarter of 2010, up 2 percent from the same period of 2009 and 6 percent from the third quarter of 2010. Full-year 2010 trust and investment fee income rose 15 percent from 2009.

Money market mutual fund and brokerage fees totaled $6.5 million, up 19 percent from the fourth quarter of 2009 but virtually unchanged from the third quarter of 2010. Full-year 2010 money market mutual fund and brokerage fee income was $23.7 million, down 15 percent from the previous year due largely to low interest rates.

Other Noninterest Income

Fourth-quarter income from cash management and deposit transaction fees totaled $11.4 million, down 9 percent from the fourth quarter of 2009 and 2 percent from the third quarter of 2010. For the full-year 2010, cash management and deposit transaction fee income was $47.6 million, down 8 percent from 2009. The decreases were due to higher deposit balances used to offset service charge fees.

Fee income from foreign exchange services and letters of credit totaled $8.5 million in the fourth quarter, down 1 percent from the year-earlier period but up 8 percent from the third quarter of 2010. For full-year 2010, international fee income amounted to $31.3 million, up 1 percent from 2009.

Other income was $8.4 million in the fourth quarter, up 308 percent from the year-earlier period and 209 percent from the third quarter of 2010, due primarily to FDIC-acquired bank activity. Other income in the fourth quarter included pre-tax charges of $6.8 million for the redemption of trust preferred securities and $5.9 million related to one of the company's affiliated investment advisors. In 2010, other income was $29.4 million, up 26 percent from 2009 due primarily to the same acquired bank activity mentioned above.

NONINTEREST EXPENSE

Fourth-quarter noninterest expense amounted to $204.0 million, up 27 percent from the same period of 2009 and 10 percent from the third quarter of 2010. Noninterest expense for the year amounted to $751.3 million, up 29 percent from 2009.

Contributing to the year-over-year increases were the company's three FDIC-assisted bank acquisitions and higher compensation costs, legal and professional fees, and expenses related to covered assets, including other real estate owned properties. Many of the qualified covered asset-related expenses are reimbursed by the FDIC and reflected in noninterest income.

CREDIT QUALITY

The following credit quality information excludes loans that are subject to loss-sharing agreements involving City National's FDIC-assisted transactions:

Net charge-offs in the fourth quarter of 2010 totaled $19.0 million, or 0.66 percent of total loans and leases on an annualized basis. Net charge-offs were $58.7 million, or 1.93 percent of total loans and leases, in the fourth quarter of 2009 and $28.2 million, or 0.98 percent, in the third quarter of 2010. Net charge-offs for the full-year 2010 were $130.3 million, or 1.13 percent of total loans and leases. This compares with $225.9 million, or 1.84 percent, in 2009.

At December 31, 2010, nonperforming assets amounted to $248.2 million, or 2.17 percent of the company's total loans and leases and OREO. They were down from $442.0 million, or 3.62 percent, at the end of 2009 and $297.6 million, or 2.59 percent, at September 30, 2010. Nonaccrual loans at year-end 2010 were $190.9 million, down from $388.7 million at the end of 2009 and $239.1 million at September 30, 2010.

City National's fourth-quarter provision for credit losses of $3.0 million brought total provisions for the year to $103.0 million, down from $285.0 million in 2009.  City National recorded provisions of $80.0 million in the fourth quarter of 2009 and $13.0 million in the third quarter of 2010.

At December 31, 2010, City National's allowance for loan and lease losses totaled $257.0 million, or 2.26 percent of total loans and leases. That compares with $288.5 million, or 2.38 percent, at the end of 2009 and $274.2 million, or 2.40 percent, at September 30, 2010. The company also maintains an additional $21.5 million in reserves for off-balance-sheet credit commitments.

City National's provision reflects management's continuing assessment of the loan portfolio's credit quality and economic conditions. This assessment also takes into account a broad range of economic factors, including net loan charge-offs, nonaccrual loans, specific reserves, risk-rating migration and changes in the portfolio size and composition.

Commercial Loans

Commercial loans accounted for $6.5 million of City National's net charge-offs in the fourth quarter of 2010, down from $23.1 million in the year-earlier period and $17.9 million in the third quarter of 2010. Full-year net charge-offs of commercial loans amounted to $63.3 million, down from $87.7 million in 2009.

Commercial loans on nonaccrual totaled $20.6 million at December 31, 2010, compared to $82.0 million at the end of 2009, and $28.9 million at September 30, 2010.

Construction Loans

City National's $467.8 million commercial real estate construction portfolio includes secured loans to developers of residential and nonresidential properties. This portfolio has been reduced 44 percent since December 31, 2009, and construction loans now account for just 4 percent of the company's total loans.

Fourth-quarter net charge-offs of construction loans were $5.5 million, down from $27.6 million in the fourth quarter of 2009. There were virtually no construction net charge-offs in the third quarter of 2010. Full-year 2010 net charge-offs of construction loans were $30.6 million, down from $120.5 million in 2009. At year-end 2010, construction loans on nonaccrual totaled $98.2 million, down from $202.6 million at the end of 2009 and $135.8 million at September 30, 2010.

The company's portfolio of loans to residential developers totaled $101.3 million at December 31, 2010 – less than 1 percent of City National's total loan portfolio. Loans to residential developers accounted for 37 percent of all construction loans on nonaccrual at December 31, 2010.

The remainder of City National's construction portfolio consists of loans to developers of nonresidential projects. Nonresidential construction loans amounted to $366.5 million at December 31, 2010, down from $645.4 million at the end of 2009 and $460.2 million at September 30, 2010. Nonresidential construction loans on nonaccrual were $61.9 million, down from $148.1 million at the end of 2009 and $90.5 million at September 30, 2010.

Commercial Real Estate Mortgages

Fourth-quarter net charge-offs in the company's $2.0 billion commercial real estate mortgage portfolio were $5.3 million, unchanged from the fourth quarter of 2009 but down from $9.0 million in the third quarter of 2010. Full-year 2010 net charge-offs were $29.6 million, compared to $8.7 million in 2009. Commercial real estate mortgage loans on nonaccrual totaled $44.9 million at the end of 2010, down from $76.0 million at the end of 2009 and $50.4 million at September 30, 2010.

Residential Mortgage and Equity Lines of Credit

City National's $3.6 billion residential mortgage portfolio and $733.7 million home-equity portfolio both continued to perform well.  Together, they accounted for $1.3 million in fourth-quarter net charge-offs, compared to $1.2 million in the fourth quarter of 2009 and $1.4 million the third quarter of 2010. Full-year net charge-offs were $5.2 million, compared to $4.4 million in 2009. Nonaccrual loans totaled $25.5 million at the end of 2010, compared to $18.9 million at year-end 2009 and $21.8 million in the third quarter of 2010. The company recorded a total of only six foreclosures last year.

INCOME TAXES

City National's fourth-quarter 2010 effective tax rate was 21.4 percent, compared to 13.1 percent in the year-ago period. For the full-year 2010, City National's effective tax rate was 16.2 percent, while the company's 2009 results reflected a tax benefit of $1.9 million for the year. The higher tax rates are attributable to higher pretax income.

CAPITAL LEVELS

City National continued to optimize its balance sheet in 2010, replacing higher cost financing with more attractive alternatives. In the first quarter of the year, the company repurchased its remaining $200 million of TARP preferred stock. In September 2010, City National issued $300 million of 10-year 5.25 percent senior notes. The company used most of the net proceeds to redeem $250 million of 9.625 percent cumulative trust preferred securities, which qualified as Tier 1 capital.

The company remains well-capitalized, ending the year with a Tier 1 common shareholders' equity ratio of 10.3 percent, compared to 8.9 percent at December 31, 2009, and 10.0 percent at September 30, 2010.

Total risk-based capital and Tier 1 risk-based capital ratios at December 31, 2010 were 13.3 percent and 10.5 percent, respectively. City National's Tier 1 leverage ratio at December 31, 2010 was 6.7 percent. All of City National's capital ratios are above minimum regulatory standards for "well-capitalized" institutions.

Total risk-based capital, Tier 1 risk-based capital and Tier 1 leverage ratios at September 30, 2010 were 14.7 percent, 12.0 percent and 7.8 percent, respectively. Excluding the trust preferred securities, City National's pro-forma Tier 1 risk-based capital and Tier 1 leverage ratios at September 30, 2010 were 10.1 percent and 6.6 percent, respectively.¹

Due to strong growth in assets, the period-end ratio of shareholders' equity to total assets at December 31, 2010 was 9.3 percent, compared to 9.6 percent at December 31, 2009 and 9.1 percent at September 30, 2010.

2011 OUTLOOK

City National's management anticipates increased profitability in 2011, as asset quality continues to improve and annual credit costs move lower than the $103 million recorded in 2010 (excluding provisions related to FDIC-covered loans). However, it is likely that slow economic growth, limited loan demand, conditions in the commercial real estate market, and the continuing decline of covered assets will moderate overall average loan growth. Low interest rates will continue to place pressure on the company's net interest margin and revenue growth. Management expects to increase the company's already-strong capital ratios in 2011.

CONFERENCE CALL

City National Corporation will host a conference call this afternoon to discuss 2010 financial results. The call will begin at 2:00 p.m. PST. Analysts and investors may dial in and participate in the question/answer session. To access the call, please dial (866) 393-6804 and enter Conference ID 25044743.  A listen-only live broadcast of the call also will be available on the investor relations page of the company's Website at www.cnb.com.  There, it will be archived and available for 12 months.

ABOUT CITY NATIONAL

City National Corporation's wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 75 offices, including 17 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. City National and its seven consolidated investment affiliates manage or administer $58.5 billion in client assets, including nearly $37 billion under direct management.

For more information about City National, visit the company's Website at www.cnb.com.

The City National Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3142

SAFE-HARBOR LANGUAGE

This news release contains forward-looking statements about the Company, for which the Company claims the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

A number of factors, many of which are beyond the Company's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) changes in general economic, political or industry conditions and the related credit and market conditions, (2) changes in the pace of economic recovery and related changes in employment levels, (3) the effect of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the new rules and regulations to be promulgated by supervisory and oversight agencies implementing the new legislation, taking into account that the precise timing, extent and nature of such rules and regulations and the impact on the Company is uncertain, (4) significant changes in applicable laws and regulations, including those concerning taxes, banking and securities, (5) increases and required prepayments in Federal Deposit Insurance Corporation ("FDIC") premiums and special federal assessments on financial institutions due to market developments and regulatory changes, (6) changes in the level of nonperforming assets, charge-offs, other real estate owned and provision expense, (7) incorrect assumptions in the value of the loans acquired in FDIC-assisted acquisitions resulting in greater than anticipated losses in the acquired loan portfolios exceeding the losses covered by the loss-sharing agreements with the FDIC, (8) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board, (9) changes in inflation, interest rates, and market liquidity which may impact interest margins and impact funding sources, (10) adequacy of the Company's enterprise risk management framework, (11) the Company's ability to increase market share and control expenses, (12) the Company's ability to attract new employees and retain and motivate existing employees, (13) increased competition in the Company's markets, (14) changes in the financial performance and/or condition of the Company's borrowers, including adverse impact on loan utilization rates, delinquencies, defaults and customers' ability to meet certain credit obligations, changes in customers' suppliers, and other counterparties' performance and creditworthiness, (15) a substantial and permanent loss of either client accounts and/or assets under management at the Company's investment advisory affiliates or its wealth management division, (16) changes in consumer spending, borrowing and savings habits, (17) soundness of other financial institutions which could adversely affect the Company, (18) protracted labor disputes in the Company's markets, (19) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (20) the effect of acquisitions and integration of acquired businesses and de novo branching efforts, (21) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (22) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (23) the success of the Company at managing the risks involved in the foregoing.

Forward-looking statements speak only as of the date they are made, and the Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made, or to update earnings guidance, including the factors that influence earnings.

For a more complete discussion of these risks and uncertainties, see the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and particularly Part I, Item 1A, titled "Risk Factors."

¹ For notes on non-GAAP measures, see pages 13 and 14 of the Selected Financial Information.

CONTACT: Financial/Investors
         Christopher J. Carey, City National, 310.888.6777
         Chris.Carey@cnb.com

         Media
         Cary Walker, City National, 213.673.7615
         Cary.Walker@cnb.com

         Conference Call:
         Today 2:00 p.m. PST
         (866) 393-6804
         Conference ID: 25044743