October 26, 2021
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City National Bank Launches Law Firm Banking Group | Daily Business Review - Law.com

(L-R)City National Bank executive for private banking and wealth management Steven Hayworth and Law Firm Group banker Jason Timmons. Courtesy photos

What You Need to Know

  • The 75-year-old bank launched its first law firm-specific group this month.
  • Its goal is to help law firms and attorneys finance things quickly, including law firm mergers, office openings, and individual purchases.
  • The group will also target young attorneys who have yet to accumulate substantial wealth.

City National Bank of Florida has opened a law firm-specific banking group tailored to the needs of law firms and attorneys who are either expanding in the Sunshine State or planting roots there for the first time, the bank announced last week.

The Miami-based bank, which controls $21 billion in assets, has dedicated four bankers and a team of support staff to its new Law Firm Group, which provides law firm-specific services such as credit lines, debtor-in-possession accounts, receivership accounts, escrow services, plaintiffs’ firm financing, and corporate trustee services.

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source: https://www.law.com/dailybusinessreview/2021/10/26/city-national-bank-launches-law-firm-banking-group/

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