EXHIBIT 99.1

City National Corporation's 2013 Net Income Grows to $230.0 Million, Up 11 Percent from 2012; Fourth-Quarter 2013 Net Income Totals $55.1 Million, up 17 Percent

Loan balances exceed $17 billion for the first time

Deposits grow to all-time high of $25.7 billion

Total assets reach a record $29.7 billion

LOS ANGELES, Jan. 23, 2014 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported full-year 2013 net income of $230.0 million, up 11 percent from $208.0 million in 2012. Earnings per share were $3.99, compared with $3.83 per share in 2012.

Fourth-quarter 2013 net income totaled $55.1 million, up 17 percent from $47.2 million in the fourth quarter of 2012. Earnings per share were $0.95, up 9 percent from $0.87 per share in the year-ago period. Fourth-quarter results included net securities losses of $2.7 million after tax, or $0.05 per share.

City National also announced today that its Board of Directors has increased the company's quarterly common stock cash dividend from $0.25 per share to $0.33 per share, payable on February 19, 2014 to stockholders of record on February 5, 2014.

FOURTH-QUARTER 2013 HIGHLIGHTS

• Average fourth-quarter loans and leases, excluding those covered by City National's acquisition-related loss-sharing agreements with the Federal Deposit Insurance Corporation (FDIC), grew to $16.8 billion, up 20 percent from the fourth quarter of 2012. Average commercial loans were up 24 percent from the year-ago period. Period-end loan balances grew to a new record of $17.2 billion at December 31, 2013.
   
• Fourth-quarter deposit balances averaged $25.9 billion, up 11 percent from the fourth quarter of 2012. Average core deposits, which equal 98 percent of total balances, were up 12 percent from the fourth quarter of 2012. Period-end deposit balances grew to a new record of $25.7 billion at December 31, 2013.
   
• Trust and investment fee income grew to $50.6 million, up 15 percent from the fourth quarter of 2012.  For the full year, it was up 27 percent, to $196.5 million. City National's assets under management or administration grew to $64.7 billion, up 13 percent from December 31, 2012.
   
• Net loan recoveries in the fourth quarter of 2013 totaled $14.7 million, compared to net recoveries of $6.8 million in the third quarter of 2013. Excluding FDIC-covered loans, fourth-quarter 2013 results included no provision for loan and lease losses. City National recorded a $7.0 million provision in the fourth quarter of 2012. The company remains appropriately reserved at 1.76 percent of total loans, excluding FDIC-covered loans.
   
• On November 7, 2013, City National issued $100 million of 6.75 percent fixed-to-floating rate non-cumulative preferred stock, Series D, which qualifies as Tier 1 capital.

"2013 was another very good year of robust growth across the company for City National, which has now been profitable for 83 consecutive quarters – almost 21 years," said Chairman and CEO Russell Goldsmith. "Since this month marks the 60^th anniversary of City National Bank, it is fitting that it also marks new record levels of assets, loans, deposits, and investment assets under management as well as a market value in excess of $4 billion for the first time. The company also increased its dividend and maintained its long-standing guideline of paying between 30 percent and 35 percent of prior-year earnings.

"In spite of continuing margin pressure, as expected, from the runoff of covered assets, competitive pressures and the low-rate environment, the strong increase in net income reflects, in part, City National's continuing addition of new clients, a modest increase in loan demand across all sectors of the bank, and very sound and improving credit quality. This income growth occurred even as the company continued to invest significantly in the addition of people, products, technology and new bank branches in New York City and the San Francisco Bay Area, while still keeping expense levels well contained for the year. The successful integration of City National Rochdale also contributed to the growth and the strong investment performance of City National's expanding wealth management business. 

"With its asset-sensitive loan portfolio, low-cost deposit base, shorter-duration securities portfolio, strong growth in its client base, and continuing investments in the company's future, City National continued to improve its strong position as the economy improves, loan demand increases and interest rates rise," Goldsmith concluded.

ASSETS

Total assets reached a record $29.7 billion at December 31, 2013, up 4 percent from the fourth quarter of 2012 and 2 percent higher than the third quarter of 2013. The increases primarily reflect higher loan balances.

NET INTEREST INCOME

Fully taxable-equivalent net interest income was $211.2 million in the fourth quarter of 2013, up 1 percent from the same period of 2012, but down 4 percent from the third quarter of 2013. Fully taxable-equivalent net interest income for the full-year 2013 was $845.9 million, down 1 percent from $850.7 million in 2012.

Deposits

Average fourth-quarter deposits were $25.9 billion, up 11 percent from the year-ago period and 7 percent higher than the third quarter of 2013. Average deposits for the full-year 2013 totaled $24.0 billion, up 11 percent from 2012. Period-end deposits totaled $25.7 billion, up 9 percent from December 31, 2012 and up 2 percent from September 30, 2013.

Average core deposits were $25.4 billion in the fourth quarter of 2013, up 12 percent from the same period of 2012 and up 7 percent from the third quarter of 2013. Full-year 2013 average core deposits grew 12 percent from 2012 to $23.4 billion.

Fourth-quarter 2013 average noninterest-bearing deposits were up 13 percent from the same period of 2012 and 10 percent higher than the third quarter of 2013. Average noninterest-bearing balances for the full-year 2013 were up 16 percent from 2012.

Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $2.6 billion in the fourth quarter of 2013, up 7 percent from the same period of 2012 but 1 percent lower than the third quarter of 2013. Treasury Services deposit balances averaged $2.5 billion for the full-year 2013, up 14 percent from 2012. The year-over-year increases were due primarily to an increase in residential refinance activity, as well as existing home sales.

Loans

Fourth-quarter average loan balances, excluding FDIC-covered loans, were $16.8 billion, up 20 percent from the fourth quarter of 2012 and up 5 percent from the third quarter of 2013. Full-year 2013 average loans, excluding FDIC-covered loans, were $15.8 billion, up 19 percent from the prior year.

Fourth-quarter average commercial loans were up 24 percent from the same period of 2012 and 5 percent higher than the third quarter of 2013.

Average balances for commercial real estate mortgages were up 26 percent from the fourth quarter of 2012, and they increased 4 percent from the third quarter of 2013. Average balances for commercial real estate construction loans were up 34 percent from the fourth quarter of 2012 and up 12 percent from the third quarter of 2013.

Average balances for single-family residential mortgage loans were up 14 percent from the year-ago period and 5 percent higher than the third quarter of 2013.

Securities

Average securities for the fourth quarter of 2013 totaled $9.3 billion, down 4 percent from the fourth quarter of 2012 but 9 percent higher than the third quarter of 2013. Total available-for-sale securities amounted to $6.2 billion at December 31, 2013, down from $9.2 billion at the end of the fourth quarter of 2012 and $6.9 billion at September 30, 2013.

On November 5, 2013, City National transferred approximately $1.0 billion of debt securities from the available-for-sale category to the held-to-maturity category.

The average duration of available-for-sale securities at December 31, 2013 was 2.4 years, up from 2.3 years at December 31, 2012 but down from 2.9 years at the end of the third quarter of 2013. The decrease from the third quarter of 2013 reflects both the $1 billion transfer and a rotation from longer-duration to shorter-duration securities in the available-for-sale portfolio.

Net Interest Margin

City National's net interest margin in the fourth quarter of 2013 averaged 2.97 percent, compared with 3.30 percent in the third quarter of 2013. FDIC-covered loan prepayments and portfolio run-off accounted for 25 basis points of the 33-basis-point decline from September 30, 2013. Also contributing to the lower fourth-quarter margin were lower loan yields and an increase in the company's securities portfolio due to strong deposit growth. For the full-year 2013, City National's net interest margin averaged 3.18 percent, down from 3.61 percent in the previous year.

Fourth-quarter net interest income included $13.7 million from FDIC-covered loans that were repaid or charged off. This compares with $17.5 million in the fourth quarter of 2012 and $25.8 million in the third quarter of 2013.

At December 31, 2013, City National's prime lending rate was 3.25 percent, unchanged from both December 31, 2012 and September 30, 2013.

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC‑assisted bank acquisitions totaled $726.5 million at the end of the fourth quarter of 2013, compared to $1.0 billion at December 31, 2012 and $784.0 million at September 30, 2013.

In the fourth quarter of 2013, City National recorded a $0.2 million non-cash net expense to reflect results of the quarterly update of cash-flow projections for the FDIC-covered loans, compared to a $0.5 million expense recorded in the third quarter of 2013. The fourth-quarter expense reflects a $0.2 million provision for losses on covered loans. In addition to the $0.2 million non-cash net expense for the quarter, the company recognized $0.1 million of other covered assets expense.

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 its FDIC-assisted bank acquisitions and subject to loss-sharing agreements totaled $25.5 million at December 31, 2013, compared to $58.3 million at the end of the fourth quarter of 2012 and $29.8 million at September 30, 2013.

NONINTEREST INCOME

Noninterest income was $90.5 million in the fourth quarter of 2013, down 9 percent from the fourth quarter of 2012 but up 2 percent from the third quarter of 2013. City National's noninterest income totaled $355.2 million for the full year of 2013, down 1 percent from 2012.

The decrease in noninterest income from the fourth quarter of 2012 was due largely to higher FDIC loss-sharing expense, which was partly offset by higher wealth management fee income. The increase from the third quarter of 2013 largely reflects lower FDIC loss-sharing expense and higher wealth management fee income. Results for the fourth quarter of 2013 also included a $4.6 million net loss on securities, compared with a small net gain in the fourth quarter of 2012 and a net gain of $5.6 million in the third quarter of 2013.

In the fourth quarter of 2013, noninterest income accounted for 31 percent of City National's total revenue, compared to 33 percent in the fourth quarter of 2012 and 29 percent in the third quarter of 2013.

Wealth Management

City National's assets under management or administration grew to $64.7 billion as of December 31, 2013, up 13 percent from December 31, 2012 and 5 percent higher than the third quarter of 2013.

Trust and investment fees were $50.6 million in the fourth quarter of 2013, up 15 percent from the fourth quarter of 2012 and 2 percent higher than the third quarter of 2013. The increase from the year-ago period was due primarily to the growth in assets from sales and market appreciation.

Fourth-quarter 2013 brokerage and mutual fund fees totaled $10.6 million, up 26 percent from the year-earlier period and 45 percent higher than the third quarter of 2013, due to increased fund assets from sales and market appreciation, and the recognition of annual performance fees.

Full-year trust and investment fee income was $196.5 million, up 27 percent from 2012.  Brokerage and mutual fund fee income was $34.1 million for the full-year 2013, up 23 percent from 2012. These increases reflect not only the company's July 2012 acquisition of Rochdale Investment Management, but also the addition of client assets and market appreciation across all of City National's wealth management companies.

Other Noninterest Income

Fourth-quarter income from cash management and deposit transaction fees was $12.3 million, up 8 percent from the fourth quarter of 2012 and up 1 percent from the third quarter of 2013. Full-year 2013 cash management and deposit transaction fee income was $50.5 million, up 11 percent from 2012. The year-over-year increases were due largely to higher sales volume and growth in transaction volumes among existing clients.

Fee income from foreign exchange services and letters of credit totaled $10.6 million in the fourth quarter of 2013, down 7 percent from the fourth quarter of 2012 and 3 percent lower than the third quarter of 2013.  Full-year 2013 foreign exchange services and letters of credit fee income totaled $42.0 million, up 5 percent from 2012.

Other income was $20.2 million in the fourth quarter of 2013, down 17 percent from the fourth quarter of 2012 and 5 percent lower than the third quarter of 2013.  The decrease from the fourth quarter of 2012 was due primarily to lower income from client swap transactions. Other income for the full-year 2013 was $80.2 million, down 3 percent from 2012.

NONINTEREST EXPENSE

City National's fourth-quarter 2013 noninterest expense amounted to $219.0 million, down 1 percent from the fourth quarter of 2012 but up 5 percent from the third quarter of 2013. The increase from the third quarter was due largely to higher legal and professional fees from collection and defense matters that came to a conclusion in the fourth quarter as well as additional compensation expense for the accrual of performance incentives. Fourth-quarter expenses also included a number of other seasonal year-end accruals.

Noninterest expense for the full-year 2013 amounted to $851.1 million, up 3 percent from 2012.  Excluding the company's 2012 acquisitions of Rochdale and First American Equipment Finance, noninterest expense was down 1 percent from 2012.¹

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 fourth quarter of 2013 totaled $14.7 million, or 0.35 percent of total loans and leases on an annualized basis. The company realized net recoveries of $2.0 million, or 0.06 percent, in the fourth quarter of 2012 and net recoveries of $6.8 million, or 0.17 percent, in the third quarter of 2013. Net recoveries for the full-year 2013 were $33.8 million, or 0.21 percent of total loans and leases. This compares with net recoveries of $7.1 million, or 0.05 percent, in 2012.

At December 31, 2013, nonperforming assets decreased to $81.3 million, or 0.47 percent of the company's total loans and leases and OREO, compared to $120.8 million, or 0.81 percent, at December 31, 2012 and $88.5 million, or 0.53 percent, at September 30, 2013.

Nonaccrual loans at December 31, 2013 were $68.7 million, compared to $99.8 million at December 31, 2012 and $69.6 million at September 30, 2013. Classified loans declined from the third quarter of 2013, and overall credit trends remained favorable.

In light of strong and improving credit quality, significant recoveries, and a growing loan portfolio, the company did not record any provisions for credit losses or reserve releases in 2013. The company recorded $10.0 million in provisions in 2012, including $7.0 million in the fourth quarter.

At December 31, 2013, City National's allowance for loan and lease losses totaled $302.6 million, or 1.76 percent of total loans and leases. That compares with $277.9 million, or 1.88 percent, at December 31, 2012 and $295.9 million, or 1.79 percent, at the end of the third quarter of 2013. The company also maintains an additional $33.9 million in reserves for off-balance-sheet credit commitments.

Commercial Loans

Commercial loan net recoveries were $9.5 million in the fourth quarter of 2013. This compares to net recoveries of $2.0 million in the year-earlier period and net recoveries of $4.4 million in the third quarter of 2013. Net recoveries in the full year of 2013 amounted to $18.9 million, compared to net recoveries of $10.4 million in 2012.

Commercial loans on nonaccrual totaled $14.3 million in the fourth quarter of 2013, compared to $9.2 million at December 31, 2012 and $10.1 million at September 30, 2013.

Real Estate Construction Loans

City National's $367.0 million commercial real estate construction portfolio includes secured loans to developers of residential and nonresidential properties. This portfolio represents 2 percent of the company's total loans.

Fourth-quarter net recoveries of construction loans were $4.7 million, compared to net recoveries of $0.2 million in the fourth quarter of 2012 and net recoveries of $2.9 million in the third quarter of 2013. Full-year net recoveries amounted to $13.0 million, compared with net charge-offs of $1.5 million in 2012.

At December 31, 2013, construction loans on nonaccrual totaled $19.1 million, compared to $40.9 million at December 31, 2012 and $25.5 million at September 30, 2013.

Commercial Real Estate Mortgage Loans

In the fourth quarter of 2013, the company recorded a small net recovery in its $3.2 billion commercial real estate mortgage portfolio.  This compares with net charge-offs of $0.3 million in the fourth quarter of 2012 and net charge-offs of $0.6 million in the third quarter of 2013. Full-year net recoveries amounted to $0.5 million, compared with net charge-offs of $0.1 million in 2012.

Commercial real estate mortgage loans on nonaccrual totaled $18.4 million, compared to $33.2 million at December 31, 2012 and $19.0 million at September 30, 2013.

Residential Mortgage Loans and Equity Loans and Lines of Credit

City National's period-end $4.6 billion residential mortgage portfolio, which grew 15 percent from the fourth quarter of 2012, and its $0.7 billion home equity portfolio both continued to perform exceptionally well.  Together, they accounted for $0.2 million in net recoveries in the fourth quarter of 2013, compared to net charge-offs of $0.2 million in both the fourth quarter of 2012 and the third quarter of 2013. Full-year 2013 net recoveries amounted to $0.2 million, compared to net charge-offs of $2.7 million in 2012.

Residential mortgage loans and home equity loans and lines of credit on nonaccrual were $16.8 million in the fourth quarter of 2013, compared to $16.0 million in the fourth quarter of 2012 and $15.0 million in the third quarter of 2013.

INCOME TAXES

City National's effective tax rate for the fourth quarter of 2013 was 27.2 percent, compared to 30.5 percent in the year-earlier period. The company's full-year 2013 effective tax rate was 28.9 percent, compared to 32.1 percent in the prior-year.

CAPITAL LEVELS

City National remains well-capitalized. Under Basel I capital rules, the company's Tier 1 common shareholders' equity ratio was 8.8 percent at December 31, 2013.¹  The company's Tier 1 common shareholders' equity ratio was 8.5 percent at December 31, 2012 and 8.8 percent at September 30, 2013.¹

Under Basel III rules, City National's estimated Tier 1 common equity ratio was 8.5 percent.² All of the company's pro-forma capital ratios are comfortably above the Basel III rules, which were approved by the Federal Reserve on July 2, 2013. The new rules will begin a phase-in period for banks with less than $250 billion in assets, including City National, on January 1, 2015 and are expected to be fully implemented by January 1, 2019.

City National's Basel I total risk-based capital and Tier 1 risk-based capital ratios at December 31, 2013 were 13.0 percent and 10.1 percent, respectively. The company's Tier 1 leverage ratio at December 31, 2013 was 7.2 percent.

Basel I total risk-based capital, Tier 1 risk-based capital and Tier 1 leverage ratios at December 31, 2012 were 12.5 percent, 9.4 percent and 6.6 percent, respectively.

The increase in Total and Tier 1 capital ratios from December 31, 2012, was due primarily to the company's issuance of $100 million of preferred stock on November 7, 2013.

Period-end ratio of equity to total assets at December 31, 2013 was 9.2 percent, compared to 8.8 percent at December 31, 2012 and 8.9 percent at September 30, 2013.

2014 OUTLOOK

Management expects modest net income growth in 2014, even as low short-term interest rates continue to put pressure on the company's net interest margin.  The company anticipates continued solid growth in loans, deposits, and wealth management assets. Rising loan balances are expected to require some loan-loss provisions, but credit quality should remain stable.  This outlook reflects management's expectations for continued moderate U.S. economic growth in 2014. 

CONFERENCE CALL

City National Corporation will host a conference call this afternoon to discuss fourth-quarter and year-end 2013 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 21178194.  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 77 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 $64.7 billion in client investment assets, including $45.0 billion under direct management.

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

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, including changes in consumer spending, borrowing and savings habits; (2) the impact on financial markets and the economy of the level of U.S. and European debt; (3) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Board of Governors of the Federal Reserve System; (4) continued delay in the pace of economic recovery and continued stagnant or decreasing employment levels; (5) the effect of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the 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 are uncertain; (6) the impact of revised capital requirements under Basel III; (7) significant changes in applicable laws and regulations, including those concerning taxes, banking and securities; (8) the impact of cyber security attacks or other disruptions to the company's information systems and any resulting compromise of data or disruptions in service; (9) changes in the level of nonperforming assets, charge-offs, other real estate owned and provision expense; (10) 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; (11) changes in inflation, interest rates, and market liquidity which may impact interest margins and impact funding sources; (12) the company's ability to attract new employees and retain and motivate existing employees; (13) increased competition in the company's markets and our ability to increase market share and control expenses; (14) changes in the financial performance and/or condition of the company's customers, or changes in the performance or creditworthiness of our customers' suppliers or other counterparties, which could lead to decreased loan utilization rates, delinquencies, or defaults and could negatively affect our customers' ability to meet certain credit obligations; (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) soundness of other financial institutions which could adversely affect the company; (17) protracted labor disputes in the company's markets; (18) the impact of natural disasters, terrorist activities or international hostilities on the operations of our business or the value of collateral; (19) the effect of acquisitions and integration of acquired businesses and de novo branching efforts; (20) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies; and (21) 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, please refer to the company's Annual Report on Form 10-K for the year ended December 31, 2012.

¹ For notes on non-GAAP measures, see pages 15 and 16 of the Selected Financial Information.

² Estimated based on management's interpretation of final rules adopted July 2, 2013, by the Federal Reserve Board establishing a new comprehensive capital framework for U.S. banking organizations that would implement the Basel III capital framework and certain provisions of the Dodd-Frank Act. See page 15 of the Selected Financial Information.

Note: Certain prior period balances have been reclassified to conform to current period presentation.