City National Bank Lowers Its Prime Interest Rate to 4.00 Percent.Business Editors LOS ANGELES--(BUSINESS WIRE)--June 27, 2003 City National Bank today announced that it will lower its prime lending rate The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans. The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest from 4.25 percent to 4.00 percent effective immediately. About City National City National Corporation (NYSE NYSE See: New York Stock Exchange :CYN) is a financial services company with $12 billion in total assets. Its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , City National Bank, is the second largest independent bank headquartered in California. As California's Premier Private and Business Bank(R), City National provides banking, investment and trust services through 54 offices, including 12 full-service regional centers, in Southern California, the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay and New York City. At March 31, 2003, the company had $19.8 billion in investment and trust assets under management or administration. For more information about City National, visit the company's Web site at www.cnb.com. |
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