City National repays $200 million of TARP funds

12/31/2009 | Los Angeles Times (tiered subscription model)

City National accepted $400 million through the Troubled Asset Relief Program during the global financial crisis, but the regional bank said the investment was unnecessary as it was well-capitalized. The company then raised $550 million through sales of stocks and bonds. CEO Russell Goldsmith voiced his eagerness to repay the funds the bank received through TARP. Regulators allowed City National to repay half of the funds, and the bank said it expected to repay the other half next year.

View Full Article in:

Los Angeles Times (tiered subscription model)

Published in Brief: