City National Matches ’02 4th-Quarter Results

City National Corp. reported fourth-quarter earnings of $44.4 million, or 87 cents a share, matching its results for the fourth quarter of 2002.

The parent of City National Bank said revenue rose 6% for the quarter to $178.5 million, and nonaccrual loans fell to $42.3 million, down 41% from a year earlier. However, its income tax rate rose 3 percentage points because of an adverse ruling by state tax officials, and lending income fell 1% on lower interest rates and commercial loans.

The Beverly Hills-based bank earned $186.7 million, or $3.72 a share, in 2003, up from $183.1 million, or $3.56, for 2002.

-- E. Scott Reckard