LAS VEGAS, Feb. 9 /PRNewswire-FirstCall/ -- Business Bank Corporation, parent company of Business Bank of Nevada (BULLETIN BOARD: BBNV) , and City National Corporation , parent company of City National Bank, today announced that Business Bank's shareholders overwhelmingly approved the merger with City National Corporation. At a special meeting of shareholders held today at Business Bank's corporate headquarters in Las Vegas, over 80% of Business Bank's stockholders voted in favor of the merger.
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On October 31, 2006, Business Bank Corporation entered into an agreement to merge with City National Corporation, with City National as the surviving corporation in the merger. The deal is expected to close by the end of February. Business Bank shareholders will be notified shortly after the closing date as to their election considerations.
About Business Bank
Business Bank is a half billion-dollar asset size bank that is in its twelfth year of operation and is one of the best performing independent banks in Nevada and throughout the country. The Bank has seven branch offices in the state, with three in Las Vegas, one in North Las Vegas, one in Reno, one in Carson City, and one in Minden. The Bank also has Loan Production Offices at Stateline in South Lake Tahoe and in Scottsdale, Arizona. For more information about Business Bank, go to http://www.bbnv.com/.
About City National Bank
Backed by $14.9 billion in total assets, City National Corporation is the parent company of City National Bank, which provides banking, investment and trust services through 54 offices, including 12 full-service regional centers, in Southern California, the San Francisco Bay Area and New York City.
City National is ranked among America's top companies in Forbes magazine's "Super 500" list. It also is one of the nation's top wealth managers, according to Barron's magazine. The company and its affiliates manage or administer more than $48 billion in client trust and investment assets, including more than $27 billion under direct management. For more information about City National Bank, go to http://www.cnb.com/.
Contact: Paul C. Stowell Cary Walker
Business Bank Corporation City National Corporation
702.952.4415 213.673.7615
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