City National Corp.: The Beverly Hills-based banking...
From Times Staff and Wire Reports
City National Corp.: The Beverly Hills-based banking company said its annual income fell 27% to $44 million, largely because it added $28 million to its reserve against future loan losses. Assets rose 4% to a record $5 billion. The company said its fourth-quarter profit tumbled to $1.5 million from $15.5 million in the same quarter of 1989. Its bad loans nearly doubled during the quarter to $68.4 million, it said.
