City National Posts a Rise in Profit for 2005

City National Corp. of Beverly Hills, parent of City National Bank, reported 2005 net income of $235 million, or $4.60 a share, compared with $206 million, or $4.04 a share, for 2004. Revenue rose 12%, to $821 million.

For the fourth quarter, net income was $61.8 million, or $1.21 a share, up from $49.7 million, or 97 cents a share, for the same period in 2004. City National also said its board raised its annual cash dividend to $1.64 a share, up from $1.44.

City National reported earnings after the close of regular trading, when its shares fell $1.36 to $72.60.

UnionBanCal Corp. reported 2005 net income of $862.9 million, or $5.84 a share, compared with $732.5 million, or $4.87 a share, a year earlier. The San Francisco bank reported earnings after the market close. During regular trading, shares fell 22 cents to $68.03.