City National Bank of Florida was born out of a handshake in 1926. Harvard-trained entrepreneur Baron de Hirsch Meyer met Leonard Abess, an accountant from Providence, Rhode Island, who had come to Miami. From the moment they met, their partnership focused on helping small businesses thrive by making loans to companies that otherwise would not have access to credit.
Nearly a decade after their first encounter, the partners opened the pre-cursor to City National Bank, North Shore Bank, in 1946. The bank was located on 71st Street in North Miami Beach.
City National Bank of Florida established various banks under the City National Bank name. When federal regulations allowed, the locations were all merged into one City National Bank of Florida name.
Throughout the next 75 years, City National Bank of Florida expanded into Broward and Palm Beach counties, as well as the Orlando and Winter Park communities, and Tampa, building a business and a reputation for practical, prudent banking and a best-in-class client experience. City National Bank of Florida continues to grow and evolve, but its foundation remains the same.
Learn More About City National Bank of Florida's History
Attract and develop best-in-class professionals who are motivated to achieve the highest levels of service and performance. Invest in the communities we serve.
At City National Bank of Florida, we understand that to become Florida’s iconic bank, we must be brave, bold, and care enough to set the bar high every day and never give up on achieving our goals.
The London Interbank Offered Rate (LIBOR)—the rate used around the world to price financial products – will be discontinued across all U.S banks by the end of 2021 with limited exceptions. LIBOR will no longer be accepted by Financial Regulators after June 30, 2023.
This change will affect some adjustable or variable rate loans and lines of credit like adjustable-rate mortgages (ARMs), reverse mortgages, home equity lines of credit and personal loans that use LIBOR as the index.
The federal government has recommended using a SOFR based index as the replacement index for loans that use LIBOR.
If you do not have a loan or product linked to LIBOR, then this transition does not impact you.
If you are not certain, check with your banker to make sure.
In line with our Best-In-Cass promise, we have established a LIBOR task force to ensure a seamless transition.
Part of our transition plan includes reviewing each agreement that uses LIBOR and making sure there is language that allows the transition to a new index in the event LIBOR is discontinued. If there is no such language in the agreement, we will be making the necessary amendments to include language that allows the transition to a new index.
We are personally reaching out to each client who has a loan using LIBOR and ensuring clients are informed and prepared for the transition.
We also aim to minimize any possible disruption after the transition to ensure there is no disadvantage to either party.
We appreciate your patience as we follow federal guidance and transition away from LIBOR.
Please do not hesitate to contact your Relationship Manager at any time.
Every business is unique. Let our specialists help you find the solutions that best fit yours.
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