EXHIBIT 99.1

City National Corp. Reports 2011 Net Income of $172.4 Million, Up 37 Percent From 2010; Fourth Quarter 2011 Net Income Totals $43.9 Million, or $0.82 Per Share

Loans and deposits grow to record levels

Total assets reach all-time high of $23.7 billion

LOS ANGELES, Jan. 19, 2012 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported fourth-quarter 2011 net income of $43.9 million, or $0.82 per share, up 10 percent from $39.7 million, or $0.74 per share in the fourth quarter of 2010.

Full-year 2011 net income available to common shareholders totaled $172.4 million, or $3.21 per share, up 37 percent from $125.5 million, or $2.36 per share, in 2010.

City National also announced today that its Board of Directors has approved an increase in the quarterly common stock cash dividend to $0.25 per share, up from $0.20 per share. The quarterly dividend is payable on February 15, 2012 to stockholders of record on February 1, 2012.

FOURTH-QUARTER AND YEAR-END 2011 HIGHLIGHTS

• Fully taxable-equivalent net interest income amounted to $206.0 million in the fourth quarter of 2011, up 1 percent from the third quarter of 2011 and 9 percent from the year-earlier period. Fully taxable-equivalent net interest income for the full year amounted to $790.3 million, up 6 percent from 2010.
    
• Average deposit balances grew to a record $20.5 billion in the fourth quarter of 2011, up 4 percent from $19.7 billion in the third quarter of 2011 and 10 percent from $18.7 billion in the fourth quarter of 2010. Average core deposits grew 5 percent from the third quarter of 2011 and 12 percent from the fourth quarter of 2010. They account for 96 percent of average deposit balances. Average deposits for the full year amounted to $19.3 billion, up 8 percent from 2010.
    
• Average fourth-quarter loan balances were $12.2 billion, up 4 percent from the third quarter of 2011 and 7 percent from the fourth quarter of 2010, excluding loans covered by City National's acquisition-related loss‑sharing agreements with the Federal Deposit Insurance Corporation (FDIC). Average fourth-quarter commercial loan balances grew 6 percent from the third quarter of 2011 and 18 percent from the year-earlier period. Average loans for the full year were $11.7 billion, up 1 percent from 2010.
    
• The company recorded a $5.0 million provision for loan and lease losses, excluding FDIC-covered loans, in the fourth quarter of 2011, which brought total provisions for the year to $12.5 million, down from $103.0 million in 2010. The company remains adequately reserved at 2.13 percent of total loans, excluding FDIC-covered loans.

"City National's strong 2011 performance demonstrated the strength, capabilities and momentum that our organization has built over the past three years and the stability and security of 19 consecutive years of profitability," said Chairman and CEO Russell Goldsmith.  "Assets, revenue and deposits all reached record levels, and loans picked up in the second half of the year.  Earnings rose substantially, while credit quality continued to improve and capital ratios remained strong.  We also continued to invest for the future.  City National opened additional offices in New York, Los Angeles and San Jose and expanded into Nashville and Atlanta, two important centers for the entertainment industry.  We added new clients and colleagues and further expanded the company's financial products, technology and capabilities.

"Despite the challenges of low interest rates and a slow-growing economy, City National's outlook for continuing growth is good."

ASSETS

Total assets at December 31, 2011 grew to a record $23.7 billion, up 2 percent from the third quarter of 2011 and 11 percent from the fourth quarter of 2010.

REVENUE

Revenue for the fourth quarter of 2011 was $288.0 million, up 7 percent from the third quarter of 2011 and 3 percent from the fourth quarter of 2010. Revenue for the full-year 2011 totaled $1.1 billion, up 2 percent from 2010.

NET INTEREST INCOME

Fully taxable-equivalent net interest income was $206.0 million in the fourth quarter of 2011, up 1 percent from the third quarter of 2011 and 9 percent from the same period of 2010. Fully taxable-equivalent net interest income for the full-year 2011 was $790.3 million, up 6 percent from $743.5 million in 2010. 

Fourth-quarter average deposits reached a record $20.5 billion, up 4 percent from the third quarter of 2011 and 10 percent from the fourth quarter of 2010. Average deposits for the full-year 2011 totaled $19.3 billion, up 8 percent from 2010. Period-end deposits grew to $20.4 billion, up 2 percent from September 30, 2011 and 12 percent from December 31, 2010.

Average core deposits were $19.8 billion in the fourth quarter of 2011, up 5 percent from the third quarter of 2011 and 12 percent from the same period of 2010. Full-year 2011 average core deposits grew 10 percent from 2010.

Fourth-quarter 2011 average noninterest-bearing deposits were up 12 percent from the third quarter of 2011 and 25 percent from the same period of 2010. Average noninterest-bearing balances for the full-year 2011 were up 17 percent from 2010.

Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $1.7 billion in the fourth quarter of 2011, down 5 percent from the third quarter of 2011, but up 9 percent from the same period of 2010. Treasury Services deposit balances averaged $1.7 billion for the full-year 2011, up 19 percent from 2010. This increase reflects the addition of new title and escrow clients, as well as an increase in commercial real estate activity and residential refinance activity.

Fourth-quarter average loan balances, excluding FDIC-covered loans, were $12.2 billion, up 4 percent from the third quarter of 2011 and 7 percent from the fourth quarter of 2010. Full-year 2011 average loans, excluding FDIC-covered loans, were $11.7 billion, up 1 percent from 2010.

Fourth-quarter average commercial loans were up 6 percent from the third quarter of 2011 and 19 percent from the same period 2010.

Average balances for commercial real estate mortgages were up 7 percent from the third quarter of 2011 and 6 percent from the fourth quarter of 2010. Average balances for commercial real estate construction loans were down 5 percent from the third quarter of 2011 and 39 percent from the fourth quarter of 2010.

Average balances for single-family residential mortgage loans, most of which are made to City National's private banking clients, were up 1 percent from the third quarter of 2011 and 5 percent from the year-ago period.

Average securities for the fourth quarter of 2011 totaled $7.6 billion, up 10 percent from the third quarter of 2011 and 41 percent from the fourth quarter of 2010, as deposit growth continued to outpace loan growth. The average duration of total securities at December 31, 2011 was 2.4 years, compared to 2.1 years at the end of the third quarter of 2011 and 2.8 years at December 31, 2010. 

City National's net interest margin in the fourth quarter of 2011 averaged 3.70 percent, compared with 3.79 percent in the third quarter of 2011 and 3.71 percent in the fourth quarter of 2010. For the full-year 2011, City National's net interest margin averaged 3.79 percent, compared with 3.86 percent in the previous year. The declines were due primarily to strong deposit growth and lower loan yields. The company continued to invest a large share of its growing deposits in securities and other liquid assets.

Fourth-quarter net interest income included $18.9 million from the FDIC-covered loans that were repaid or charged off during the quarter. This compares with $18.3 million in the third quarter of 2011 and $7.0 million in the fourth quarter of 2010.

At December 31, 2011, City National's prime lending rate was 3.25 percent, unchanged from both September 30, 2011 and December 31, 2010.

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.5 billion at the end of the fourth quarter of 2011, down from $1.7 billion at September 30, 2011 and $1.9 billion at December 31, 2010. 

In the fourth quarter of 2011, the company recorded a nominal non-cash net impairment charge to reflect results of the quarterly update of cash-flow projections for the FDIC-covered loans. The loss reflects a provision for loan losses of $17.7 million for covered loans and an offsetting $17.6 million of noninterest income related to City National's loss-sharing agreements with the FDIC.  City National will continue to update cash-flow projections for covered loans on a quarterly basis. Due to the uncertainty in the future performance of the covered loans, additional impairments may be recognized in the future.

OREO assets acquired by City National in four FDIC-assisted bank acquisitions and subject to loss-sharing agreements totaled $98.5 million at December 31, 2011, compared to $102.8 million at the end of the third quarter of 2011 and $120.9 million in the fourth quarter of 2010.

NONINTEREST INCOME

Noninterest income was $86.4 million in the fourth quarter of 2011, up 24 percent from the third quarter of 2011 but down 9 percent from the year-ago quarter. Fourth-quarter 2011 results included net FDIC loss-sharing income of $7.6 million compared to net FDIC loss-sharing expense of $14.2 million in the third quarter of 2011 and net FDIC loss-sharing income of $26.3 million in the fourth quarter of 2010.

City National's noninterest income totaled $341.9 million in the full year of 2011, down 5 percent from 2010. Results for 2011 included a second-quarter gain of $8.2 million on an FDIC-assisted bank acquisition, while 2010 results included acquisition gains totaling $27.3 million.

In the fourth quarter of 2011, noninterest income accounted for 30 percent of City National's total revenue, compared to 26 percent in the third quarter of 2011 and 34 percent in the fourth quarter of 2010.

Wealth Management

City National's assets under management totaled $31.3 billion as of December 31, 2011, down 7 percent from the third quarter of 2011 and 15 percent from the same period of 2010.

Trust and investment fees were $33.0 million, down 7 percent from the third quarter of 2011 and 4 percent from the fourth quarter of 2010. Full-year trust and investment fee income rose 4 percent from 2010.

The declines in assets under management and trust and investment fees from the third quarter of 2011 were due to the divestiture of certain institutional assets by one of the company's investment management affiliates.  This was partially offset by higher equity values. The declines from the year-earlier quarter were primarily attributable to the divestiture noted above as well as the deconsolidation of another affiliate in the second quarter of 2011.

Money-market mutual fund and brokerage fees totaled $4.8 million, down 5 percent from the third quarter of 2011 and 26 percent from the year-earlier period. Money-market mutual fund and brokerage fee income was $20.4 million in the full-year 2011, down 14 percent from 2010. The declines in money-market mutual fund and brokerage fees were due primarily to the impact of extraordinarily low short-term interest rates and narrowing spreads.

Other Noninterest Income

Fourth-quarter income from cash management and deposit transaction fees was $10.7 million, down 3 percent from the third quarter of 2011 and 6 percent from the fourth quarter of 2010. Full-year 2011 cash management and deposit transaction fees were $44.3 million, down 7 percent from 2010. The declines were due to higher deposit balances used to offset service charge fees.

Fee income from foreign exchange services and letters of credit totaled $8.8 million in the fourth quarter of 2011, down 15 percent from the third quarter of 2011, but up 3 percent from the fourth quarter of 2010. The decline was due primarily to unusually high foreign exchange volume in the third quarter of 2011. Full-year 2011 foreign exchange services and letters of credit fee income totaled $36.5 million, up 17 percent from 2010, largely reflecting increased client activity and the addition of new clients.

Other income was $17.5 million in the fourth quarter of 2011, up 30 percent from the third quarter of 2011 and 92 percent from the year-ago period. Other income for the full-year 2011 was $75.7 million, up 135 percent from 2010. Results for the full-year 2011 reflect higher gains on the transfer of covered loans to OREO. In addition, 2010 results included pre-tax charges of $6.8 million for the redemption of trust preferred securities, $5.9 million related to one of the company's affiliated investment advisors and $12.3 million for the early retirement of debt.

NONINTEREST EXPENSE

City National's fourth-quarter 2011 noninterest expense amounted to $198.2 million, virtually unchanged from the third quarter of 2011 but down 3 percent from the fourth quarter of 2010.

Noninterest expense for the full-year 2011 amounted to $805.1 million, up 7 percent from 2010.  The increase was due largely to higher compensation costs, as well as increased expenses for OREO, marketing and advertising, and legal and professional services. Approximately 90 percent of 2011 OREO expenses are related to covered assets, and a significant portion of these expenses is reimbursable by the FDIC and reflected in noninterest income.

CREDIT QUALITY 

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

Net charge-offs in the fourth quarter of 2011 totaled $5.5 million, or 0.18 percent of total loans and leases on an annualized basis. The company realized net charge-offs of $10.6 million, or 0.36 percent, in the third quarter of 2011 and $19.0 million, or 0.66 percent, in the fourth quarter of 2010.

At December 31, 2011, nonperforming assets amounted to $142.8 million, or 1.16 percent of the company's total loans and leases and OREO, compared to $190.7 million, or 1.56 percent, at September 30, 2011, and $248.2 million, or 2.17 percent, at December 31, 2010.

Nonaccrual loans at December 31, 2011 were $112.0 million, compared to $146.1 million at September 30, 2011 and $190.9 million at December 31, 2010. Criticized and classified loans declined from the third quarter of 2011, and overall credit trends remain favorable.

City National recorded a provision for credit losses of $5.0 million in the fourth quarter of 2011, bringing its total provisions for the year to $12.5 million. The company recorded total provisions of $103.0 million in 2010, including $3.0 million in the fourth quarter of the year.

At December 31, 2011, City National's allowance for loan and lease losses totaled $262.6 million, or 2.13 percent of total loans and leases. That compares with $263.3 million, or 2.16 percent, at the end of the third quarter of 2011 and $257.0 million, or 2.26 percent, at December 31, 2010. The company also maintains an additional $23.1 million in reserves for off-balance-sheet credit commitments.

Commercial Loans

Commercial loan net charge-offs were $12.5 million in the fourth quarter of 2011. This compares to net charge-offs of $2.9 million in the third quarter of 2011 and $6.5 million in the year-earlier period. Net charge-offs in the full year of 2011 amounted to $14.8 million, compared to net charge-offs of $63.3 million in 2010.

Commercial loans on nonaccrual totaled $19.9 million in the fourth quarter of 2011, compared to $34.9 million at September 30, 2011, and $21.7 million at December 31, 2010.

Construction Loans

City National's $315.6 million commercial real estate construction portfolio includes secured loans to developers of residential and nonresidential properties. This portfolio has been reduced 33 percent since December 31, 2010, and construction loans now account for less than 3 percent of the company's total loans.

Fourth-quarter net recoveries of construction loans were $6.9 million, compared to net charge-offs of $6.2 million in the third quarter of 2011 and $5.5 million in the fourth quarter of 2010. Full-year net recoveries of construction loans were $5.0 million, compared to net charge-offs of $30.6 million in 2010.

At December 31, 2011, construction loans on nonaccrual totaled $50.9 million, compared to $70.8 million at September 30, 2011 and $98.2 million at December 31, 2010.

Commercial Real Estate Mortgage Loans

Fourth-quarter net charge-offs in the company's $2.1 billion commercial real estate mortgage portfolio were $87,000, compared to net charge-offs of $452,000 in the third quarter of 2011 and $5.3 million in the fourth quarter of 2010. Full-year net recoveries were $6.9 million, compared to net charge-offs of $29.6 million in 2010.

Commercial real estate mortgage loans on nonaccrual totaled $21.9 million, compared to $20.7 million at September 30, 2011 and $44.9 million at December 31, 2010.

Residential Mortgage Loans and Equity Lines of Credit

City National's $3.8 billion residential mortgage portfolio and $741.1 million home-equity portfolio continued to perform exceptionally well.  Together, they accounted for $429,000 in net charge-offs in the fourth quarter of 2011 compared to $675,000 at September 30, 2011, and $1.3 million at December 31, 2010.  Full-year 2011 net charge-offs amounted to $2.8 million, compared to $5.2 million in 2010.

Residential mortgage loans and lines of credit on nonaccrual were $18.4 million in the fourth quarter of 2011, compared to $18.9 million in the third quarter of 2011 and $25.5 million in the fourth quarter of 2010. 

INCOME TAXES

City National's effective tax rate for the fourth quarter of 2011 was 33.9 percent, up from 21.4 percent in the year-earlier period, primarily due to higher pretax income. The company's full-year 2011 effective tax rate was 30.6 percent, up from 16.2 percent in the prior year, due in part to higher pretax income. The 2010 tax rate also reflects a favorable tax litigation settlement.

CAPITAL LEVELS

City National remains well-capitalized, ending the fourth quarter of 2011 with a Tier 1 common shareholders' equity ratio of 10.2 percent, compared to 10.2 percent at September 30, 2011 and 10.3 percent at December 31, 2010.[i]

Total risk-based capital and Tier 1 risk-based capital ratios at December 31, 2011 were 12.8 percent and 10.3 percent, respectively. City National's Tier 1 leverage ratio at December 31, 2011 was 6.8 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, 2011 were 12.9 percent, 10.3 percent and 6.8 percent, respectively.

The period-end ratio of equity to total assets at December 31, 2011 was 9.1 percent, compared to 9.2 percent at September 30, 2011 and 9.3 percent at December 31, 2010.

2012 OUTLOOK

Management anticipates continuing net income growth in 2012. Loans, deposits and capital ratios are expected to increase, and credit quality will likely continue to improve, though rising loan balances are expected to require appropriately higher loan-loss provisions. This outlook reflects management's expectations for moderate economic growth in 2012. Interest rates are expected to remain low for the entire year.

CONFERENCE CALL

City National Corporation will host a conference call this afternoon to discuss fourth-quarter 2011 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 36748488.  A listen-only live broadcast of the call also will be available on the investor relations page of the company's Website at 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 79 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Tenn., and Atlanta. The corporation and its investment affiliates manage or administer $54.5 billion in client investment assets, including more than $31.3 billion under direct management.

For more information about City National, visit the company's Website at 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 and the impact they have on the company and its customers, (2) the impact on financial markets and the economy of the level of U.S. and European debt, (3) changes in the pace of economic recovery and related changes in employment levels, (4) 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, (5) significant changes in applicable laws and regulations, including those concerning taxes, banking and securities, (6) volatility in the municipal bond market, (7) changes in the level of nonperforming assets, charge-offs, other real estate owned and provision expense, (8) 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, (9) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board, (10) changes in inflation, interest rates, and market liquidity which may impact interest margins and impact funding sources, (11) adequacy of the company's enterprise risk management framework, (12) the company's ability to increase market share and control expenses, (13) the company's ability to attract new employees and retain and motivate existing employees, (14) increased competition in the company's markets, (15) 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, (16) 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, (17) changes in consumer spending, borrowing and savings habits, (18) soundness of other financial institutions which could adversely affect the company, (19) protracted labor disputes in the company's markets, (20) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (21) the effect of acquisitions and integration of acquired businesses and de novo branching efforts, (22) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (23) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (24) 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, 2010 and particularly, Item 1A, titled "Risk Factors." 

[i] For notes on non-GAAP measures, see page 15 of the Selected Financial Information.