City National’s earnings jumped 28% to a...

City National’s earnings jumped 28% to a record $35.5 million in 1987. The Beverly Hills-based parent of City National Bank attributed its earnings to record growth in deposits, loans and assets. City National will pay a stock dividend of $1.75 on Friday, compared to $1.37 a year ago. The earnings do not reflect $5.4 million in one-time income from the sale of its automated teller machine business and payroll processing unit. The bank has 24 branches in Southern California and concentrates on serving middle-market businesses and wealthy individuals.