City National, the parent company of wholly owned City National Bank reported Q2/13 net income of $59.7 million was up 9% from $54.8 million in the same year-ago period. Earnings per share were $1.04, which exceeded estimates of analysts polled by Thomson Financial who had expected $0.96 EPS.

City National’s net income in the first half of this year totaled $111.3 million, up 10% from $101.0 million in the first half of 2012.

The following highlights were excerpted from the news release:

. Period-end loans and leases, excluding loans covered by City National’s acquisition-related loss-sharing agreements with the FDIC, reached a record

$15.8 billion, up 17% from June 30, 2012.

. Average second-quarter loan and lease balances, excluding FDIC-covered loans, grew to $15.4 billion, up 18% from the second quarter of last year. Average commercial loans were up 25% from the same period in 2012.

. Excluding FDIC-covered loans, second-quarter 2013 results included no provision for loan and lease losses. City National recorded a $1.0 million provision in the second quarter of 2012 and no provision in the first quarter of 2013. The company remains appropriately reserved at 1.83 percent of total loans, excluding FDIC-covered loans.

“City National delivered another solid performance in the second quarter – its 81st consecutive profitable quarter – achieving double-digit growth in assets, loans, deposits, and wealth management fee income, while strategically investing in, expanding, and benefiting from new talent, offices, products and technologies to better serve our clients and grow our business,” said president and CEO Russell Goldsmith. “Our strong credit quality improved further. The company continued to add both new clients and more assets and income from existing clients.”

To read the City National news release click here.