City National

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“Our long-term goal is to covet the state,” said Steve City National’s regional manager for Central Florida. “There reallh isn’t a Florida-dominant bank today that does City National likely will add locationss through both acquisitions andnew construction, Greehn said. If City National succeeds, it will occupy a niche largelyy left empty since Barnett Bank became part of Nationsbank in the Florida banking today is a mix of communit banks withlimited operations, regional lenders such as SunTrust Bankzs and giant banks, which include Bank of JP Morgan Chase and Wells Fargo.
A well-financedr lender that focuses on the state coul offer customers the personal attention of communituy banks combined with the financial clout to make big said Green. The bank’s new local brancu — its staff of eight occupying the space formerlty usedby Sergio’s Restaurant — faces the towerint Bank of America building on Northu Orange Avenue, a physical reminder of the gianty competitors City National will face as it pursuews its growth strategy. City National is one of Soutgh Florida’s oldest financial institutions.
Until it opened a smallp loan office on the seconcd floor of an Altamonte Springs office building twoyears ago, the 63-year-old bank operated exclusivelh in Miami-Dade, Broward and Palm Beach counties. The opportunity to reach beyond its historiv turf came last fall when Caja a Spanish lender with morethan $300 billionm in assets, bought an 83 percent stake in City National for $927 million. Greenh said Caja Madrid’s ownership and City National’s stron balance sheet gives it the resourced to undertake expansion when othert lenders arecutting staff. “We aren’t focusecd on the issues troubling the rest of the banking Green said.
“We have a partner in Caja that’ds capable of helping us grow inthe ­Florida City National’s most recent quarterly report depictsw a bank with strong capital reserves and a $903,000 J. Clay Singleton, a finance professor at , said a strongh Florida bank with the capital to expand coulcd do well even asthe so-called megabank s expand their reach. “The megabanks have huge footprints, but they’re also sufferinv huge financial problems. If you’re a lender with this is a timeto grow.” Marshall Vermillion, senior vice presidenyt of community lender , said City National has strong leadership and solid footing.
“Positioning yourself to take advantaged of the unrest in the banking businessis wise. Thingx are going to come back, and this is a good time to As a professor of mine in business schoolonce said, the best time to get on a trainn is when it’s stopped.”