EXHIBIT 99.1

City National Corp. Grows Second-Quarter 2011 Net Income To $47.5 Million, Up 15 Percent From Second-Quarter 2010

Credit quality improves for seventh consecutive quarter

Loans and deposits grow from first-quarter 2011

Total assets exceed $22 billion for the first time

LOS ANGELES, July 21, 2011 (GLOBE NEWSWIRE) -- City National Corporation (NYSE:CYN), the parent company of wholly owned City National Bank, today reported second-quarter 2011 net income of $47.5 million, up 15 percent from $41.3 million in the second quarter of 2010. Earnings per share amounted to $0.88, up 13 percent from $0.78 in the second quarter of last year.

Year to date, City National's net income totaled $87.2 million, up 53 percent from $57.0 million in the first half of 2010. Earnings per share were $1.62, up 67 percent from $0.97 in the first half of last year.

City National also announced today that its Board of Directors has maintained and approved a quarterly common stock cash dividend of $0.20 per share. The company's dividend will be payable on August 17, 2011 to stockholders of record on August 3, 2011.

SECOND-QUARTER AND FIRST-HALF 2011 HIGHLIGHTS

• Fully taxable-equivalent net interest income amounted to $195.1 million, up 5 percent from both the first quarter of 2011 and the same period last year. Fully taxable-equivalent net interest income for the first six months of 2011 amounted to $380.6 million, up 5 percent from the same period last year.
• Average deposit balances grew to a record $18.8 billion in the second quarter of 2011, up 3 percent from $18.2 billion in the first quarter of this year and 7 percent from $17.6 billion in the second quarter of 2010. Average core deposits, which now equal 96 percent of total balances, were $18.0 billion, up 3 percent from the first quarter of 2011 and 9 percent from the second quarter of last year. Average deposits for the first six months amounted to $18.5 billion, up 7 percent from the same period of 2010.
• Average second-quarter loan balances, excluding loans covered by City National's acquisition-related loss-sharing agreements with the Federal Deposit Insurance Corporation (FDIC), were $11.5 billion, up 2 percent from the first quarter of 2011, but down 1 percent from the same period last year. Average commercial loan balances grew 6 percent from the first quarter of this year. Average loans in the first half of 2011 were down 3 percent from a year ago.
• The company recorded no provision for loan losses, excluding loans covered by FDIC loss-sharing agreements, in the first two quarters of 2011. City National recorded a $32.0 million provision in the second quarter of 2010, which brought its total in the first half of last year to $87.0 million. The company remains adequately reserved at 2.28 percent of total loans, excluding FDIC-covered loans.
• Second-quarter noninterest income included a pretax gain of $8.2 million, or $0.09 per share after tax, from the April 8, 2011 acquisition of Nevada Commerce Bank.  City National acquired the Las Vegas-based institution in a purchase and assumption agreement with the FDIC.

"City National just completed its best quarter in more than three years with improvements across the board in loans, deposits and credit quality," said President and Chief Executive Officer Russell Goldsmith. "Our capital levels are strong and growing even as we continue to invest in the future with new colleagues and offices, including our first office in Nashville, Tennessee. City National continues to benefit from having avoided virtually all of the pitfalls that continue to visibly challenge some other financial institutions. Within the context of a challenging and slow-growing economy, the company's outlook for the rest of this year remains positive."

ASSETS

Total assets at June 30, 2011 were $22.5 billion, up 4 percent from the first quarter of this year and 6 percent from the second quarter of 2010.

REVENUE

Revenue for the second quarter of 2011 was $282.8 million, up 3 percent from the first quarter of 2011, but down 7 percent from the second quarter of 2010. Revenue for the first six months of this year was $557.9 million, virtually unchanged from the first half of 2010.

NET INTEREST INCOME

Fully taxable-equivalent net interest income was $195.1 million in the second quarter of 2011, up 5 percent from both the first quarter of 2011 and the same period last year. Fully taxable-equivalent net interest income for the first half of 2011 was $380.6 million, up 5 percent from $364.1 million in the year-ago period.

Second-quarter 2011 average deposits grew to a record $18.8 billion, up 3 percent from the first quarter of this year and 7 percent from the same period of 2010. Average deposits for the first half of 2011 totaled $18.5 billion, up 7 percent from the first half of 2010. Period-end deposits grew to $19.3 billion, up 7 percent from June 30, 2010.

Average core deposits were $18.0 billion in the second quarter of 2011, up 3 percent from the first quarter of 2011 and 9 percent from the same period of 2010. First-half 2011 average core deposits grew 10 percent from the year-ago period to $17.7 billion. Core deposits now represent 96 percent of the company's average balances.

Second-quarter 2011 average noninterest-bearing deposits were up 5 percent from the first quarter of 2011 and 12 percent from the same period of 2010. Average noninterest-bearing balances in the first half of 2011 were up 12 percent from the same period last year.

Treasury Services deposit balances, which consist primarily of title, escrow and property management deposits, averaged $1.7 billion in the second quarter of 2011, up 10 percent from the first quarter of 2011 and 18 percent from the same period of 2010. For the first six months of 2011, Treasury Services deposit balances averaged $1.6 billion, up 27 percent from the first half of 2010. The increases reflect the addition of new clients and an increase in residential and commercial real estate activity by the company's title and escrow clients.

Second-quarter average loan balances, excluding FDIC-covered loans, were $11.5 billion, up 2 percent from the first quarter of this year, but down 1 percent from the second quarter of 2010. For the first six months of 2011, City National's average loans, excluding FDIC-covered loans, were $11.4 billion, down 3 percent from the year-ago period.

Second-quarter average balances for commercial loans were up 6 percent from the first quarter of 2011 and 8 percent from the same period last year. The increases were due to both organic loan growth and the company's purchase of a $170.4 million portfolio of asset-based lending facilities in the second quarter of 2011. This asset-based portfolio added $105 million to second-quarter average loan balances.

Average balances for commercial real estate mortgages were down 1 percent from the first quarter of 2011 and 9 percent from the year-ago period. Real estate construction loan balances declined 12 percent from the first quarter of this year and 43 percent from the second quarter of last year.

Average balances for single-family residential mortgage loans, nearly all of which are made to City National's private banking clients, were up 3 percent from both the first quarter of 2011 and the year-ago period.

Average securities for the second quarter of 2011 totaled $6.2 billion, up 9 percent from the first quarter of 2011 and 47 percent from the same period last year. The year-over-year increase reflects the company's strong deposit growth and relatively low loan growth. The average duration of total available-for-sale securities at June 30, 2011 was 2.3 years, down from 2.7 years at March 31, 2011, but unchanged from the end of the second quarter of 2010.

City National's net interest margin in the second quarter of 2011 averaged 3.85 percent, compared to 3.84 percent in the first quarter of this year and 3.93 percent in the second quarter of 2010. For the first six months of 2011, City National's net interest margin averaged 3.84 percent, compared with 3.95 percent in the previous year.

Second-quarter 2011 net interest income included $11.1 million from FDIC-covered loans that were repaid or charged off during the quarter. This compares with $7.4 million in the first quarter of this year and $4.3 million in the second quarter of 2010.

At June 30, 2011, City National's prime lending rate was 3.25 percent, unchanged from both March 31, 2011 and June 30, 2010.

COVERED ASSETS

Loans and other real estate owned (OREO) assets acquired in City National's FDIC-assisted acquisitions totaled $1.8 billion at the end of the second quarter of 2011, unchanged from March 31, 2011, but down from $2.1 billion at June 30, 2010.

In the second quarter of 2011, the company recorded a $0.5 million non-cash net loss to reflect results of the quarterly update of cash-flow projections for FDIC-covered loans. The loss reflected a provision for loan losses of $1.7 million for covered loans and a corresponding $1.2 million of other income from City National's loss-sharing agreements with the FDIC. City National will continue to update the cash flow projections for covered loans on a quarterly basis.  Due to the uncertainty in the future performance of the covered loans, additional impairments or gains may be recognized in the future.

NONINTEREST INCOME

Noninterest income was $91.9 million in the second quarter of 2011, down 2 percent from the first quarter of 2011 and 25 percent from the year-ago period. Second-quarter 2011 results included a net FDIC loss-sharing expense of $10.7 million, which reflected the improved performance of the company's FDIC-covered asset portfolio. Net FDIC loss-sharing income in the first quarter of 2011 amounted to $8.6 million. In the second quarter of last year, it totaled $28.3 million.

Noninterest income for the second quarter of 2011 also included an $8.2 million gain from the FDIC-assisted acquisition of Nevada Commerce Bank, compared to $25.2 million of acquisition gain in the year-earlier quarter.

City National's noninterest income totaled $185.8 million in the first half of 2011, down 7 percent from the same period of 2010, primarily due to the same factors cited above.

Noninterest income accounted for 33 percent of City National's second-quarter 2011 revenue, compared to 40 percent in the second quarter of 2010.

Wealth Management

City National's assets under management totaled $36.4 billion as of June 30, 2011, down 4 percent from the first quarter of this year, but up 7 percent from the same period of 2010. These changes were caused in large part by fluctuations in equity market values, as well as the deconsolidation of an affiliate during the second quarter of 2011.

Trust and investment fees were $36.7 million, up 3 percent from the first quarter of this year and 8 percent from the second quarter of 2010. First-half 2011 trust and investment fee income rose 7 percent from the same period last year.

Money market mutual fund and brokerage fees totaled $4.9 million, down 14 percent from the first quarter of this year and 11 percent from the year-ago period. Money market mutual fund and brokerage fee income was $10.5 million in the first six months of this year, down 2 percent from the first half of 2010. The declines in money market mutual fund and brokerage fees were due primarily to the impact of low short-term interest rates.

Other Noninterest Income

Second-quarter income from cash management and deposit transaction fees totaled $10.9 million, down 7 percent from the first quarter of 2011 and 9 percent from the same period last year. For the first six months of 2011, cash management and deposit transaction fee income was $22.6 million, down 8 percent from the first half of 2010. The declines were due to higher deposit balances used to offset service charge fees.

Fee income from foreign exchange services and letters of credit totaled $9.0 million in the second quarter, up 8 percent from both the first quarter of this year and the second quarter of 2010, due primarily to higher foreign exchange income. First-half 2011 foreign exchange services and letters of credit fee income totaled $17.3 million, up 16 percent from the same period last year.

Other income was $23.2 million in the second quarter of 2011, up 7 percent from the first quarter of this year and 90 percent from the year-ago period. Other income in the first half of this year was $44.7 million, up 128 percent from the year-ago period. The changes were due primarily to FDIC-assisted acquisition activity.

NONINTEREST EXPENSE

City National's second-quarter 2011 noninterest expense amounted to $211.8 million, up 7 percent from the first quarter of this year and 13 percent from the second quarter of 2010. Noninterest expense for the first six months of 2011 amounted to $409.2 million, up 13 percent from the first half of last year.

Second-quarter expense growth was due largely to increased compensation costs and higher FDIC assessments, OREO expenses, and legal and professional fees. The company continued to invest in its growth by adding a net total of 184 colleagues since the second quarter of last year. A number of these colleagues came to City National from acquisitions and the addition of new offices. Approximately 90 percent of OREO expenses are related to covered assets, and a significant portion of these expenses is reimbursed by the FDIC and reflected in noninterest income.

CREDIT QUALITY

The following credit quality information excludes loans subject to loss-sharing agreements involving City National's FDIC-assisted acquisitions:

Net recoveries in the second quarter of 2011 totaled $4.2 million, or 0.15 percent of average total loans and leases on an annualized basis. The company realized net recoveries of $6.5 million, or 0.24 percent, in the first quarter of this year and net charge-offs of $33.5 million, or 1.16 percent of total loans and leases, in the second quarter of 2010. Net recoveries for the first half of 2011 were $10.7 million, or 0.19 percent of total loans and leases. This compares with net charge-offs of $83.0 million, or 1.42 percent, in the first half of last year.

At June 30, 2011, nonperforming assets amounted to $180.4 million, or 1.54 percent of the company's total loans and leases and OREO, down from $213.7 million, or 1.89 percent, at March 31, 2011 and $314.6 million, or 2.73 percent, at June 30, 2010. Nonaccrual loans at June 30, 2011 were $132.8 million, down from $157.4 million at March 31, 2011 and $260.1 million at June 30, 2010.

City National recorded no provision for credit losses in the first two quarters of 2011. The company recorded a $32.0 million provision in the second quarter of 2010, which brought its total for the first half of 2010 to $87.0 million.

At June 30, 2011, City National's allowance for loan and lease losses amounted to $265.9 million, or 2.28 percent of total loans and leases. That compares with $263.4 million, or 2.34 percent, at the end of the first quarter of 2011 and $290.5 million, or 2.53 percent, at June 30, 2010. The company also maintains an additional $23.3 million in reserves for off-balance-sheet credit commitments.

Commercial Loans

Commercial loan net recoveries were $2.6 million in the second quarter of 2011. This compares to net charge-offs of $1.9 million in the first quarter of this year and $21.3 million in the year-earlier period. Net recoveries in the first half of 2011 amounted to $0.7 million, compared to net charge-offs of $38.9 million in the first half of last year.

Commercial loans on nonaccrual totaled $23.6 million, up from $18.2 million at March 31, 2011, but down from $46.5 million at June 30, 2010.

Construction Loans

City National's $355 million commercial real estate construction portfolio includes secured loans to developers of residential and nonresidential properties. This portfolio has been reduced 44 percent since June 30, 2010, and construction loans now account for 3 percent of the company's total loans.

Second-quarter net recoveries of construction loans were $0.6 million, compared to net recoveries of $3.8 million in the first quarter of 2011 and net charge-offs of $10.9 million in the second quarter of 2010. Net recoveries amounted to $4.4 million in the first half of 2011, compared with net charge-offs of $25.1 million in the first half of last year.

At June 30, 2011, construction loans on nonaccrual totaled $60.5 million, down from $81.4 million at March 31 of this year and $138.9 million at June 30, 2010.

Commercial Real Estate Mortgage Loans

Second-quarter net recoveries in the company's $1.9 billion commercial real estate mortgage portfolio were $1.3 million, compared to net recoveries of $6.2 million in the first quarter of 2011 and net charge-offs of $0.4 million in the second quarter of 2010. Net recoveries amounted to $7.5 million in the first-half of 2011, compared with net charge-offs of $15.4 million in the first half of last year.

Commercial real estate mortgage loans on nonaccrual totaled $26.7 million at June 30, 2011, down from $28.0 million at March 31, 2011 and $57.2 million at June 30, 2010.

Residential Mortgage Loans and Equity Lines of Credit

City National's $3.7 billion residential mortgage portfolio and $736 million home-equity portfolio continued to perform well. Together, they accounted for $0.4 million in net charge-offs, down from $1.4 million in the first quarter of this year and $0.9 million at June 30, 2010.  Net charge-offs amounted to $1.7 million in the first half of 2011, compared with $2.5 million in the same period of last year.

Residential mortgage loans and lines of credit on nonaccrual were $20.9 million in the second quarter of 2011, down from $21.2 million in the first quarter of this year, but up from $15.4 million in the second quarter of 2010.

INCOME TAXES

City National's effective tax rate for the second quarter of 2011 was 29.8 percent. In the year-ago period, the company realized a net tax benefit of $2.9 million. For the first half of 2011, City National's effective tax rate was 30.1 percent, compared to 2.6 percent in the prior-year period. The increases largely reflect a tax litigation settlement and revisions to certain deferred tax accounts in the second quarter of 2010, as well as higher pretax income in the first half of this year.

CAPITAL LEVELS

City National remains well-capitalized, ending the second quarter of 2011 with a Tier 1 common shareholders' equity ratio of 10.5 percent, compared to 10.7 percent at March 31, 2011 and 9.7 percent at June 30, 2010.¹

Total risk-based capital and Tier 1 risk-based capital ratios at June 30, 2011 were 13.3 percent and 10.7 percent, respectively.  City National's Tier 1 leverage ratio at June 30, 2011 was 7.1 percent. All of City National's capital ratios are above minimum regulatory standards for "well-capitalized" institutions.

Total risk-based capital, Tier 1 risk-based capital and the Tier 1 leverage ratios at March 31, 2011 were 13.7 percent, 10.9 percent and 7.1 percent, respectively.

The period-end ratio of equity to total assets at June 30, 2011 was 9.3 percent, unchanged from March 31, 2011, but up from 9.1 percent at June 30, 2010.

2011 OUTLOOK

Management continues to expect significantly increased profitability for 2011 as compared with 2010, and now anticipates credit costs for this year to be quite modest.

CONFERENCE CALL

City National Corporation will host a conference call this afternoon to discuss second-quarter 2011 financial results. The call will begin at 2:00 p.m. PDT. Analysts and investors may dial in and participate in the question/answer session. To access the call, please dial (866) 393-6804 and enter Conference ID 72749146.  A listen-only live broadcast of the call also will be available on the investor relations page of the corporation's Website at cnb.com.  There, it will be archived and available for 12 months.

ABOUT CITY NATIONAL

City National Corporation's wholly owned subsidiary, City National Bank, provides banking, investment and trust services through 79 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City and Nashville, Tenn.  The corporation and its consolidated investment affiliates manage or administer $58.5 billion in client investment assets, including more than $36 billion under direct management.

For more information about City National, visit the corporation's Website at cnb.com.

The City National Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3142

SAFE-HARBOR LANGUAGE

This news release contains forward-looking statements about the Company, for which the Company claims the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

A number of factors, many of which are beyond the Company's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) changes in general economic, political or industry conditions and the related credit and market conditions, (2) changes in the pace of economic recovery and related changes in employment levels, (3) the effect of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and the new rules and regulations to be promulgated by supervisory and oversight agencies implementing the new legislation, taking into account that the precise timing, extent and nature of such rules and regulations and the impact on the Company is uncertain, (4) significant changes in applicable laws and regulations, including those concerning taxes, banking and securities, (5) volatility in the municipal bond market, (6) changes in the level of nonperforming assets, charge-offs, other real estate owned and provision expense, (7) incorrect assumptions in the value of the loans acquired in FDIC-assisted acquisitions resulting in greater than anticipated losses in the acquired loan portfolios exceeding the losses covered by the loss-sharing agreements with the FDIC, (8) the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board, (9) changes in inflation, interest rates, and market liquidity which may impact interest margins and impact funding sources, (10) adequacy of the Company's enterprise risk management framework, (11) the Company's ability to increase market share and control expenses, (12) the Company's ability to attract new employees and retain and motivate existing employees, (13) increased competition in the Company's markets, (14) changes in the financial performance and/or condition of the Company's borrowers, including adverse impact on loan utilization rates, delinquencies, defaults and customers' ability to meet certain credit obligations, changes in customers' suppliers, and other counterparties' performance and creditworthiness, (15) a substantial and permanent loss of either client accounts and/or assets under management at the Company's investment advisory affiliates or its wealth management division, (16) changes in consumer spending, borrowing and savings habits, (17) soundness of other financial institutions which could adversely affect the Company, (18) protracted labor disputes in the Company's markets, (19) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (20) the effect of acquisitions and integration of acquired businesses and de novo branching efforts, (21) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (22) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (23) the success of the Company at managing the risks involved in the foregoing.

Forward-looking statements speak only as of the date they are made, and the company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made, or to update earnings guidance, including the factors that influence earnings.

For a more complete discussion of these risks and uncertainties, see the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and particularly, Item 1A, titled "Risk Factors."

¹For notes on non-GAAP measures, see pages 14 and 15 of the Selected Financial Information.

CONTACT:  Financial/Investors
          Christopher J. Carey, City National, 310.888.6777
          Chris.Carey@cnb.com

          Media
          Cary Walker, City National, 213.673.7615
          Cary.Walker@cnb.com

          Conference Call:
          Today 2:00 p.m. PDT
          (866) 393-6804
          Conference ID: 72749146