MIAMI, FL--(Marketwired - April 17, 2013) - City National Bank of Florida (CNB) is pleased to announce that it has been named a finalist by the South Florida Business Journal for the publication's annual Business of the Year Award. This award recognizes companies for outstanding performance in the South Florida business community.
Winners will be announced at an event on April 25 at the IFGA Fishing Hall of Fame & Museum. The Business Journal, attendees and sponsors will honor a select few businesses for their achievements, including excellence in revenue growth, commitment to employees and meaningful community involvement. CNB is one of three finalists in the 400+ employee category.
With more than $4.8 billion in assets, City National Bank is the fifth-largest financial institution in the state. The quarter ending December 31, 2012 completed a record year for CNB. In 2012, City National Bank had pre-tax, pre-amortization income of $69.9 million, compared to $50 million for 2011, capping a banner year for 2012 -- the strongest in the bank's history.
Loan production continued to grow in 2012, with more than $1 billion in new loan commitments. CNB's loan portfolio grew by $488 million in 2012, marking 20 consecutive months of loan growth. Deposits grew by more than $613 million to $3.53 billion at the end of 2012.
CNB's strength and stability are consistently recognized by BauerFinancial, the leading bank ratings firm. Last month, City National Bank received the five-star "Superior" rating, the highest rating possible from BauerFinancial. This was the fifth consecutive quarter that the bank has earned this impressive distinction. The bank has received a number of honors in the past two years, including Best Business Bank in a survey of Daily Business Review readers and Community Bank of the Year from the South Florida Business Journal.
"We are pleased to be named a Business of the Year finalist by the South Florida Business Journal," CNB President and Chief Executive Officer Jorge Gonzalez said. "It is a testament to our exceptional employees, dedication to the community and unwavering commitment to providing our clients the best-in-class banking experience they deserve."
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. The fifth-largest financial institution 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 the Best Business Bank by the readers of the Daily Business Review. The bank was also named the South Florida Business Journal's Local/Community Bank of the Year in 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.