SOURCE: City National Bank of Florida

City National Bank of Florida

December 10, 2014 12:09 ET

City National Bank of Florida Sweeps 'Best Of' Awards From the Daily Business Review

CNB Voted Best Community Bank, Best Business Bank, Best Bank for Commercial Real Estate Lending, Best Bank for Jumbo Loans and Best Private Bank

MIAMI, FL--(Marketwired - December 10, 2014) - City National Bank of Florida has done it again! The bank is pleased to announce that it has once again received numerous honors from the Daily Business Review's annual "Best Of" Awards. Readers of the Daily Business Review voted CNB number one in all five banking categories in the 2014 survey. City National Bank was named:

  • Best Community Bank
  • Best Business Bank
  • Best Bank for Jumbo Loans
  • Best Private Bank
  • Best Bank for Commercial Real Estate Lending

This is the third year in a row that CNB has received numerous accolades in the DBR survey of readers. 

The Daily Business Review launched the awards during the summer of 2014, encouraging readers to cast votes for their favorite companies in more than 57 categories of businesses supporting the legal, real estate and business communities. More than 9,500 votes were cast during a six-week period. The results were highlighted in the "Best of 2014" magazine published in November of 2014.

"We are grateful to the community for this endorsement of our bank. The readers of the Daily Business Review are the leaders of business in South Florida, making this a particularly special recognition," City National Bank President & CEO Jorge Gonzalez said. "These awards are driven by the unique value proposition we offer based on personal relationships, local decision-making and a best-in-class experience. These accolades belong to our people and our clients, without whom none of this would even be possible."

City National Bank has garnered a host of recognitions from analysts, media and the community. In 2011 and again in 2013, CNB was honored as Community Bank of the Year by the South Florida Business Journal. In 2012, the same publication bestowed its Outstanding Community Service Award upon City National Bank. In 2013, the Journal also named CNB as Business of the Year.

The company and its employees have also been honored for their passionate commitment to the community. City National Bank has received an "Outstanding" Community Reinvestment Act (CRA) rating for 12 consecutive years from regulators. In addition, City National Bank received the coveted five-star "Superior" rating -- the highest possible -- from BauerFinancial, the leading bank ratings firm, for 10 consecutive quarters. BauerFinancial has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.

City National Bank is one of the top lenders in Florida, and has consistently ranked in the top 50 of all large U.S. banks in terms of profitability, efficiency and asset quality. The bank has already made more than $1 billion in new loans during the first nine months of 2014, up more than $450 million from the same period last year. Loans totaled $3.3 billion at the end of the third quarter of 2014, growing by $611 million, or 22.94 percent, in the prior 12 months.

The bank's core earnings for the first nine months of 2014 were $54.4 million compared to $42.1 million in 2013, more than a 29 percent increase. In addition, net income for the first nine months of 2014 was $32.9 million, compared to $29.7 million during the same period last year, for an increase of 11 percent. Deposits increased by $490 million during the previous 12 months, a 14.9 percent increase. Deposits totaled more than $4 billion at the end of the third quarter, compared to $3.5 billion at the end of the third quarter last year.

"This recognition underscores how the marketplace has received our brand of banking and financial services," Gonzalez added. "We focus on people -- our clients and our employees -- and everything we do is driven from that perspective."

About City National Bank of Florida

Headquartered in Miami, City National Bank (CNB) is the financial institution to which Floridians have turned for more than 65 years. With more than $5.1 billion in assets, CNB is one of the largest financial institutions based in the state. City National Bank is one of the most liquid and best capitalized banks in Florida and is rated 5 stars "Superior" by BauerFinancial. CNB was voted Best Community Bank, Best Business Bank, Best Bank for Commercial Real Estate, Best Bank for Jumbo Loans and a top private bank by the readers of the Daily Business Review. The South Florida Business Journal named it Business of the Year in 2013 and Community Bank of the Year in 2013 and 2011. CNB offers a diversified portfolio of financial products and services at 26 convenient banking centers from Miami-Dade County to the greater Orlando area.

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