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City National Bank has agreed to commit $11 billion in Community Reinvestment Act spending over the next five years in connection with its proposed sale to Toronto-based Royal Bank of Canada.
April 24 -
Steven Sugarman, chief executive at Banc of California, recently completed a large branch acquisition after a public battle with an advocacy group. In a recent interview, he discussed that process as well as the bank's busy year both the good and the bad.
November 18 -
Amid heartbreaking tales told by distressed homeowners and reverse mortgage holders, many community groups praised OneWest CEO Joseph Otting for spending time speaking to them and hearing their communities' concerns.
February 26 -
Royal Bank of Canada sold its U.S. retail bank a few years ago to PNC. The company is back with a targeted play: City National, a Los Angeles bank that has built its business targeting the rich and working with Hollywood.
January 22
City National Bank in Los Angeles will provide $350 million in loans to minority- and women-owned small businesses as part of a community lending initiative, it announced Monday.
The initiative is meant to help small businesses owned by women, minorities, service-disabled veterans, gays and lesbians who want to establish strong banking relationships but need help solidifying their finances.
The loans will go to qualified suppliers of Southern California Gas Co., Southern California Edison and San Diego Gas & Electric three of California's leading energy utilities. The bank and the utility companies are expected to provide education and information on financial services and business-banking products.
The announcement follows City National's
Over the next five years, the $32 billion-asset City National expects to put $4.2 billion into small-business loans, $4.4 billion into qualified Community Reinvestment Act community-development loans, $1.6 billion into qualified CRA investments, $700 million into minority borrowers' residential mortgage loans and $30 million into charitable contributions.
