EXHIBIT 99.1

City National Corporation Grows Second-Quarter 2012 Net Income to $54.8 Million, or $1.01 Per Share, up 15 Percent From Second-Quarter 2011

Period-end loans and deposits grow to record levels

Total assets reach new high of $24.8 billion

LOS ANGELES, July 19, 2012 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported second-quarter 2012 net income of $54.8 million, or $1.01 per share, up 15 percent from $47.5 million, or $0.88 per share, in the second quarter of 2011.

Year to date, City National's net income totaled $101.0 million, up 16 percent from $87.2 million in the first half of 2011. Earnings per share were $1.87, up 15 percent from $1.62 in the first half of last year.

City National also announced today that its Board of Directors has maintained and approved a quarterly common stock cash dividend of $0.25 per share. The company's dividend is payable on August 15, 2012 to stockholders of record on August 1, 2012.

SECOND-QUARTER 2012 HIGHLIGHTS

• Average second-quarter loan balances, excluding loans covered by City National's acquisition-related loss‑sharing agreements with the Federal Deposit Insurance Corporation (FDIC), were $13.1 billion, up 14 percent from the second quarter of last year and 6 percent higher than the first quarter of 2012. 
• Fully taxable-equivalent net interest income amounted to $221.4 million, up 13 percent from the year-earlier period and up 8 percent from the first quarter of 2012. 
• Second-quarter deposit balances averaged $20.9 billion, up 12 percent from the second quarter of 2011 and up 4 percent from the first quarter of 2012. Average core deposits, which equal 97 percent of total balances, were up 13 percent from the second quarter of 2011 and up 4 percent from the first quarter of 2012.
• Excluding FDIC-covered loans, second-quarter 2012 results included a $1 million provision for loan and lease losses. The company recorded no provision, excluding FDIC-covered loans, in the first quarter of 2012.
• On April 30, 2012, City National Bank completed the acquisition of First American Equipment Finance, a privately owned, full-service mid-ticket equipment leasing company with $340 million in assets, which added $306 million to the company's second-quarter period-end loan balances. During the second quarter, the bank also announced the acquisition of Rochdale Investment Management, a New York City-based investment firm that manages $4.9 billion of assets for affluent and high-net-worth clients and their financial advisors across the nation. This transaction closed on July 2, 2012.
• Second-quarter 2012 earnings included income of $5.9 million from the recovery of a previously charged-off loan and $2.8 million of transaction costs related to the acquisitions of Rochdale Investment Management and First American Equipment Finance. Income, net of expense, from FDIC-covered assets, excluding the base yield, totaled $7.3 million in the second quarter, up from $0.9 million in the first quarter of 2012. (The base yield is the yield on covered assets, excluding income related to covered loans that are repaid or charged off.) The aggregate impact of these three items was after-tax income of $6.0 million, or $0.11 per share.
• On June 20, 2012, City National Bank completed a successful offering of $150 million of 10‑year subordinated debt securities with a fixed interest rate of 5.375 percent. The company will use the proceeds for general corporate purposes.

"City National's results for the first half of the year reflect another very solid performance with double-digit growth in income, assets, loans and deposits, as the company continued to add new clients and expand its products, services and technology for all of our clients," said President and CEO Russell Goldsmith. "For the second quarter in a row, loan originations reached a record level.  As City National extended its 19 consecutive years of profitability, we also continued to make new investments that will enhance the company's capabilities and contribute to its growth, including two important acquisitions in this quarter:  First American Equipment Finance and Rochdale Investment Management. Both Rochdale and First American have national businesses that complement City National's existing businesses.  Their talented teams increase our quality assets and interest and noninterest income and provide their considerable capabilities, expertise and experience to enhance both our organization's future and what we can do together for our clients. 

"In this quarter, City National also further bolstered the bank's strong capital position with the successful offering of $150 million in subordinated debt, restoring and expanding an element in our capital structure that we've had for many years."

ASSETS

Total assets at June 30, 2012 grew to a record $24.8 billion, up 10 percent from the second quarter of 2011 and 3 percent from the first quarter of this year.

REVENUE

Revenue for the second quarter of 2012 was $291.2 million, up 3 percent from the year-ago period and up 5 percent from the first quarter of 2012. Revenue for the first six months of this year was $567.7 million, up 2 percent from the first half of 2011.

NET INTEREST INCOME

Fully taxable-equivalent net interest income was $221.4 million in the second quarter of 2012, up 13 percent from the second quarter of 2011 and up 8 percent from the first quarter of this year. Fully taxable-equivalent net interest income for the first half of 2012 was $426.8 million, up 12 percent from $380.6 million in the year-ago period.

Average second-quarter deposits were $20.9 billion, up 12 percent from the year-ago period and up 4 percent from the first quarter of 2012. Average deposits for the first half of 2012 totaled $20.6 billion, up 11 percent from the first half of 2011. Period-end deposits grew to a record $21.1 billion, up 10 percent from June 30, 2011 and up 2 percent from March 31, 2012.

Average core deposits were $20.2 billion in the second quarter of 2012, up 13 percent from the same period of 2011 and up 4 percent from the first quarter of this year. First-half 2012 average core deposits grew 13 percent from the year-ago period to $19.9 billion.

Second-quarter 2012 average noninterest-bearing deposits were up 33 percent from the same period of 2011 and up 9 percent from the first quarter of 2012. Average noninterest-bearing balances in the first half of 2012 were up 31 percent from the same period last year.

Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $2.1 billion in the second quarter of 2012, up 21 percent from the same period of last year and up 8 percent from the first quarter of 2012. For the first six months of 2012, Treasury Services deposit balances averaged $2.1 billion, up 23 percent from the first half of 2011.  The increases were due primarily to the addition of new escrow and property management clients, as well as continued growth in deposit balances by existing clients.

Second-quarter average loan balances, excluding FDIC-covered loans, were $13.1 billion, up 14 percent from the second quarter of 2011 and up 6 percent from the first quarter of this year. Excluding loans acquired from First American Equipment Finance during the quarter, second-quarter average loan balances increased 12 percent from the year-ago period and 4 percent from the first quarter of 2012.

For the first six months of 2012, City National's average loans, excluding FDIC-covered loans, were $12.8 billion, up 12 percent from the year-ago period.

Second-quarter average commercial loans were up 25 percent from the year-ago period and 10 percent higher than the first quarter of 2012, due to organic loan growth and the acquisition of First American. Average balances for commercial real estate mortgages were up 21 percent from the second quarter of 2011, and they increased 6 percent from the first quarter of this year. Average balances for commercial real estate construction loans were down 21 percent from the second quarter of last year, and they declined 1 percent from the first quarter of 2012.

Average balances for single-family residential mortgage loans, nearly all of which are made to City National's private banking and entertainment industry clients, were up 4 percent from the year-ago period and 1 percent higher than the first quarter of 2012.

Average securities for the second quarter of 2012 totaled $7.8 billion, up 25 percent from the second quarter of 2011, as deposit growth outpaced loan growth. Average securities were down 2 percent from the first quarter of this year, reflecting stronger loan growth in the second quarter 2012. The average duration of total securities at June 30, 2012 was 3.0 compared to 2.3 at June 30, 2011 and 3.1 at the end of the first quarter of 2012.

City National's net interest margin in the second quarter of 2012 averaged 3.91 percent, up from 3.74 percent in the first quarter of this year and up from 3.85 percent in the second quarter of 2011. The increases were due primarily to higher interest income related to covered loans that were repaid or charged off in the second quarter of 2012. The higher margin also reflected second-quarter 2012 interest income of $2.3 million from the recovery of a previously charged off loan. For the first six months of 2012, City National's net interest margin averaged 3.83 percent, down slightly from 3.84 percent in the previous year.

Second-quarter net interest income included $27.4 million from FDIC-covered loans that were repaid or charged off during the quarter. This compares with $11.1 million in the second quarter of 2011 and $15.7 million in the first quarter of this year.

At June 30, 2012, City National's prime lending rate was 3.25 percent, unchanged from both June 30, 2011 and March 31, 2012.

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $1.3 billion at the end of the second quarter of 2012 compared to $1.8 billion at June 30, 2011 and $1.4 billion at March 31, 2012.

In the second quarter of 2012, the company recorded a $3.9 million non-cash net gain to reflect results of the quarterly update of cash-flow projections for the FDIC-covered loans. The gain reflects a $13.3 million provision for losses on covered loans and an offsetting $17.2 million of noninterest income related to City National's loss-sharing agreements with the FDIC.  In addition to the $3.9 million non-cash gain for the quarter, the company recognized $3.4 million of other covered assets income. Income, net of expense, from FDIC-covered assets, excluding the base yield, totaled $7.3 million in the second quarter of 2012, up from $0.9 million in the first quarter of this year. The increase from $0.9 million in the first quarter was due primarily to higher income from loans that were repaid or charged off.

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 $82.8 million at June 30, 2012, compared to $114.9 million in the second quarter of 2011 and $78.5 million at the end of the first quarter of this year.

NONINTEREST INCOME

Noninterest income was $74.8 million in the second quarter of 2012, down 19 percent from the year-ago quarter and 1 percent lower than the first quarter of 2012. The year-over-year decrease was due largely to lower net gains on both the sale of covered OREO and transfer of covered loans to OREO. Noninterest income for the second quarter of 2011 also included an $8.2 million gain from an FDIC-assisted acquisition.

City National's noninterest income for the first half of 2012 was down 19 percent from the same period of 2011, primarily due to the same factors cited above, as well as lower wealth management fee income in the first half of this year.

In the second quarter of 2012, noninterest income accounted for 26 percent of City National's total revenue compared to 33 percent in the second quarter of 2011 and 27 percent in the first quarter of 2012.

Wealth Management

City National's assets under management totaled $32.1 billion as of June 30, 2012, down 12 percent from the year-earlier period and down 1 percent from the first quarter of 2012.

Trust and investment fees were $34.1 million, down 7 percent from the second quarter of 2011 but up 1 percent from the first quarter of 2012. First-half 2012 trust and investment fee income was down 6 percent from the same period last year.

The year-over-year declines in assets under management and trust and investment fees were due primarily to the third-quarter 2011 divestiture of certain institutional assets by one of the company's investment affiliates.

Money-market mutual fund and brokerage fees totaled $5.3 million, up 9 percent from the year-earlier period and up 5 percent from the first quarter of 2012. Money-market mutual fund and brokerage fee income was $10.3 million in the first six months of this year, down 2 percent from the first half of 2011.

Other Noninterest Income

Second-quarter income from cash management and deposit transaction fees was $11.5 million, up 5 percent from the second quarter of 2011 and 3 percent higher than the first quarter of this year. For the first six months of 2012, cash management and deposit transaction fee income was $22.6 million, virtually unchanged from the first half of 2011.

Fee income from foreign exchange services and letters of credit totaled $10.0 million in the second quarter of 2012, up 11 percent from the second quarter of 2011 and 14 percent higher than the first quarter of this year. First-half 2012 foreign exchange services and letters of credit fee income totaled $18.8 million, up 8 percent from the same period last year. The increases were due primarily to increased client activity and the addition of new clients.

Other income was $17.4 million in the second quarter of 2012, down 25 percent from the year-earlier period but up 28 percent from the first quarter of 2012. Other income in the first half of this year was $30.9 million, down 31 percent from the year-ago period. The declines from the year-ago periods were due primarily to lower gains on the transfer of covered loans to OREO, which was partially offset by an increase in lease income from the First American acquisition.

NONINTEREST EXPENSE

City National's second-quarter 2012 noninterest expense amounted to $194.5 million, down 8 percent from the second quarter of last year and 3 percent from the first quarter of 2012. The year-over-year decline was due largely to lower OREO expenses and FDIC assessments.  Legal and professional fees also were down due to the reimbursement of $3.6 million in legal expenses related to the recovery of a previously charged-off loan. This decline was partly offset by $2.8 million of transaction costs related to the acquisition of Rochdale Investment Management and First American Equipment Finance. Noninterest expense for the first six months of 2012 amounted to $395.2 million, down 3 percent from the first half of last year.

Approximately 93 percent of second-quarter 2012 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 recoveries in the second quarter of 2012 totaled $2.7 million, or 0.08 percent of total loans and leases on an annualized basis. The company realized net recoveries of $4.2 million, or 0.15 percent, in the second quarter of 2011 and net recoveries of $4.5 million, or 0.15 percent, in the first quarter of 2012. Net recoveries for the first half of 2012 were $7.2 million, or 0.11 percent of total loans and leases. This compares with net recoveries of $10.7 million, or 0.19 percent, in the first half of last year.

At June 30, 2012, nonperforming assets amounted to $133.3 million, or 0.98 percent of the company's total loans and leases and OREO, compared to $180.4 million, or 1.54 percent, at June 30, 2011 and $141.9 million, or 1.11 percent, at March 31, 2012.

Nonaccrual loans at June 30, 2012 were $98.7 million compared to $132.8 million at June 30, 2011 and $112.8 million at March 31, 2012.

City National recorded a $1 million provision for credit losses in the second quarter of 2012 and no provision in the first quarter of this year. The company recorded no provisions in the first two quarters of 2011.

At June 30, 2012, City National's allowance for loan and lease losses totaled $269.5 million, or 2.00 percent of total loans and leases. That compares to $265.9 million, or 2.28 percent, at June 30, 2011 and $266.1 million, or 2.09 percent, at the end of the first quarter of 2012. The percentage decline is due to growth in the company's loan portfolio and stable credit quality. The company also maintains an additional $24.4 million in reserves for off-balance-sheet credit commitments.

Commercial Loans

Commercial loan net recoveries were $8.1 million in the second quarter of 2012. This compares to net recoveries of $2.6 million in the year-earlier period and $5.3 million in the first quarter of 2012. Net recoveries in the first half of 2012 amounted to $13.4 million, compared to net recoveries of $0.7 million in the first half of last year.

Commercial loans on nonaccrual totaled $19.1 million in the second quarter of 2012 compared to $24.3 million at June 30, 2011 and $19.6 million at March 31, 2012.

Construction Loans

City National's $301.8 million commercial real estate construction portfolio includes secured loans to developers of residential and nonresidential properties. This portfolio now represents just over 2 percent of the company's total loans.

Second-quarter net charge-offs of construction loans were $4.8 million compared to net recoveries of $0.6 million in the second quarter of 2011 and $0.1 million in the first quarter of 2012. Net charge-offs amounted to $4.7 million in the first half of 2011, compared with net recoveries of $4.4 million in the first half of last year.

At June 30, 2012, construction loans on nonaccrual totaled $29.7 million compared to $60.5 million at June 30, 2011 and $49.0 million at March 31, 2012.

Commercial Real Estate Mortgage Loans

Second-quarter net recoveries in the company's $2.4 billion commercial real estate mortgage portfolio were $1.1 million compared to net recoveries of $1.3 million in the second quarter of 2011 and net charge-offs of $0.7 million in the first quarter of 2012. Net recoveries amounted to $0.4 million in the first-half of 2012, compared with net recoveries of $7.5 million in the first half of last year.

Commercial real estate mortgage loans on nonaccrual totaled $28.8 million compared to $26.7 million at June 30, 2011 and $21.1 million at March 31, 2012.

Residential Mortgage Loans and Equity Lines of Credit

City National's $3.8 billion residential mortgage portfolio and $741.3 million home-equity portfolio continued to perform exceptionally well.  Together, they accounted for $1.4 million in net charge-offs in the second quarter of 2012 compared to net charge-offs of $0.4 million at June 30, 2011 and $0.6 million at March 31, 2012. Net charge-offs amounted to $2.0 million in the first half of 2012, compared with net charge-offs of $1.7 million in the same period of last year.

Residential mortgage loans and lines of credit on nonaccrual were $20.6 million in the second quarter of 2012 compared to $20.9 million in the second quarter of 2011 and $22.5 million in the first quarter of 2012.

INCOME TAXES

City National's effective tax rate for the second quarter of 2012 was 33.1 percent, up from 29.8 percent in the year-earlier period and 31.8 percent in the first quarter of 2012.  For the first half of 2012, City National's effective tax rate was 32.5 percent, compared to 30.1 percent in the prior-year period.

CAPITAL LEVELS

City National remains well-capitalized, ending the second quarter of 2012 with a Tier 1 common shareholders' equity ratio of 9.6 percent compared to 10.5 percent at June 30, 2011 and 10.2 percent at March 31, 2012.¹

Total risk-based capital and Tier 1 risk-based capital ratios at June 30, 2012 were 12.9 percent and 9.6 percent, respectively. City National's Tier 1 leverage ratio at June 30, 2012 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 March 31, 2012 were 12.7 percent, 10.2 percent and 7.0 percent, respectively.

The period-end ratio of equity to total assets at June 30, 2012 was 9.1 percent compared to 9.3 percent at June 30, 2011 and 9.2 percent at March 31, 2012.

2012 OUTLOOK

City National's management continues to anticipate net income growth throughout 2012, as loans and deposits continue to increase and credit quality remains stable. This outlook reflects management's expectations for modest economic growth and low interest rates for the remainder of the year. Management also anticipates modest loan-loss provisions, driven primarily by loan growth.

CONFERENCE CALL

City National Corporation will host a conference call this afternoon (July 19) to discuss second-quarter 2012 financial results. The call will begin at 2:00 p.m. PDT. 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 87526710.  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 78 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville and Atlanta. The corporation and its investment affiliates manage or administer $58.0 billion in client investment assets, including $32.1 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, (24) security breaches and disruptions to the company's information systems, and (25) 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, 2011 and particularly, Item 1A, titled "Risk Factors."

¹For notes on non-GAAP measures, see page 15 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. PDT
         (866) 393-6804
         Conference ID: 87526710