Third Largest African American Owned Bank Comes to Philadelphia

The third-largest African American-owned bank in the nation, City National Bank (CNB), recently opened the doors of its newest branch at 17th and Market Streets in Philadelphia. CNB is a full-service commercial bank with ten branch operations serving New York, New Jersey and now Pennsylvania . Although CNB just recently brought its tradition of community-oriented banking to Philadelphia, the financial institution has already provided at least five local organizations with loans of $1 million or more. CNB enters the Philadelphia market with more than $453 million in consolidated assets, $400 million in deposits, $27 million in capital and $226 million in loans. The bank has a long history of providing underserved communities with working capital for businesses and non-profit agencies, church loans, mortgages, branch banking, investment products and other financial services.