We have long been bullish on City National (NYSE:CYN), one of leading regional private banks in the United States, due to its focus on conservative and quality growth. City National has long eschewed the excesses of Wall Street, which has allowed the company to avoid posting a single quarterly loss during the financial crisis. As we have outlined before, 2013 will be a year of investment in its franchise. However, as City National's Q2 2013 earnings show, the company is making meaningful progress in expanding its franchise, both in California (the bank is based in Los Angeles) and beyond. In our view, City National should be a part of any investor's portfolio if they wish to have...
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