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City National Bank of Florida

Lender or loan platform

PPP · Other programs
Type
Company or group
Role
Lender or loan platform
Programs
PPP, Other programs
Updated

The profile

Miami bank that made 371 of the Federal Reserve's 1,830 Main Street loans, $2.0 billion of the $17.5 billion lent, more than any other lender, and 14,140 PPP loans.

  • Type: Bank; the largest Main Street Lending Program lender and a PPP lender.
  • Legal entity: City National Bank of Florida, Miami (FDIC Cert. 20234), a national bank supervised by the OCC. FDIC records list its holding company as Empresas Juan Yarur SpA of Santiago, Chile.1
  • Pandemic-relief role: Originating lender on Main Street loans whose participations a Boston Fed special-purpose vehicle bought (2020); PPP lender in both rounds.
  • Not to be confused with: City National Bank of Los Angeles or City National Bank of West Virginia.

City National Bank of Florida made 371 loans under the Federal Reserve's Main Street Lending Program for $2.01 billion: 20.3 percent of the program's loans and 11.5 percent of its dollars, according to the Congressional Oversight Commission. The next-largest lender, Vista Bank, made 80.2

Main Street

The Main Street Lending Program was the Fed's pandemic lending program for small and mid-sized businesses and nonprofits: banks made the loans and a Boston Fed special-purpose vehicle bought 95 percent of each.3 Most banks stayed small in it. Of the 317 lenders, the top ten accounted for 33 percent of the dollars, and more than 200 made three or fewer loans.2

City National went the other way. The Oversight Commission's sixth report, of October 29, 2020, said that as of September 30 "nearly two-fifths of the loans were issued by one bank, City National Bank of Florida, representing nearly a quarter of total loan proceeds." It quoted the Wall Street Journal: the bank "made an early decision to sign up for the program, translating the Fed's lengthy details into easy guides for customers."4 The commission's staff then interviewed the bank. According to the seventh report, City National said its "early investment in understanding the MSLP, training its staff on the program's requirements, and establishing processes to support the program was fundamental to its ability to extend loans to a large number of regional borrowers."5

The Fed's final loan-level disclosure lists the bank's 371 loans at $2,007,515,883, with the special-purpose vehicle's 95 percent share at $1,907,140,088.85.6

PPP

SBA's loan-level file lists 14,140 PPP loans from City National Bank of Florida for $2.66 billion, 12,381 of them to Florida borrowers. It made 9,438 loans for $1.86 billion in 2020, then 422 first-draw loans ($64.5 million) and 4,280 second-draw loans ($728.0 million) in 2021. The file marks 515 of its loans, $45.1 million, as charged off.7 Our lender page carries the loan-level detail.

Sources

  1. FDIC BankFind Suite, institution record for City National Bank of Florida (FDIC Cert. 20234), retrieved Sept. 29, 2026. Original: https://api.fdic.gov/banks/institutions?filters=CERT%3A20234&fields=NAME%2CCERT%2CCITY%2CSTALP%2CADDRESS%2CACTIVE%2CESTYMD%2CENDEFYMD%2CNAMEHCR%2CCITYHCR%2CSTALPHCR%2CASSET%2CREPDTE%2CCHARTER%2CREGAGNT%2CCHANGEC1&format=json ↩
  2. Congressional Oversight Commission, The Tenth Report, Feb. 26, 2021. Original: https://fraser.stlouisfed.org/title/congressional-oversight-commission-reports-6372/tenth-report-congressional-oversight-commission-615289 ↩
  3. Special Inspector General for Pandemic Recovery, Alert Memorandum SIGPR-A-23-002-1, "Closure of Participating Main Street Lending Program Bank," Apr. 11, 2023. Original: Report Sigpr Alert Closure Signature Bank A 23 002 1 2023 04 11 Text (original: oversight.gov) ↩
  4. Congressional Oversight Commission, The Sixth Report, Oct. 29, 2020. ↩
  5. Congressional Oversight Commission, The Seventh Report, Nov. 30, 2020. ↩
  6. Federal Reserve Board, Main Street Lending Program transaction-specific disclosures (data as of Jan. 31, 2021; released Apr. 12, 2021). Original: Federal Reserve, Main Street Lending Program transaction-specific disclosures (Apr. 12, 2021) (original: federalreserve.gov) ↩
  7. U.S. Small Business Administration, PPP FOIA loan-level data (release of Sept. 30, 2024). Original: https://data.sba.gov/dataset/ppp-foia SBA PPP FOIA loan-level data (stored capture) ↩
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