City National Bank (New Jersey)
City National Bank was a regional bank headquartered in Newark, New Jersey with four branches in the New York metropolitan area. According to the June, 2011 issue of Black Enterprise magazine, it was the seventh largest African-American owned and operated commercial bank in the United States.
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| Private | |
| Industry | Retail and commercial banking |
| Genre | Banking |
| Fate | Bank failure; assets acquired by Industrial Bank (Washington D.C.) |
| Founded | 1972 |
| Founder | Charles Whigham |
| Defunct | November 1, 2019 |
| Headquarters | 900 Broad Street Newark, New Jersey |
Number of locations | Three in Greater New York |
| ($3,677,000) (As of 12/31/11) | |
| Total assets | $358,442,000 (As of 12/31/11) |
| Owner | City National Bancshares |
Number of employees | 86 (As of 12/31/11) |
| Website | CityNatBank.com |
As of January 2018 the bank had 3 branches, down from a peak of 9 in 2009: 2 in New Jersey and 1 in Harlem.
On Friday, November 1, 2019, City National Bank of New Jersey was closed[1] by the Office of the Comptroller of the Currency. The FDIC was named receiver. Industrial Bank (Washington D.C.) acquired all deposit accounts and essentially all assets.[2]
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