City National Bank has announced the opening of its first office in Georgia, continuing its expansion into the South’s growing music and entertainment industries.
Besides functioning as a full-service commercial bank, new branch will continue to provide film production financing and services for the music and sports industries from its Atlanta office.
City’s David Innes will manage the branch, which marks the bank’s second office in the South. The first, in Tennessee, opened this past summer.
“City National Bank is always focused on the entertainment industry,” said Martha Henderson, exec VP of the bank’s entertainment division. She estimates that about 20% of City’s bottom line comes from entertainment and cites the crossover among music and film clients as one reason for the company’s expansion.
Expansion is notable for City, which has traditionally operated out of just three states: New York, California and Nevada. Company began in Los Angeles in 1954 and has increased its reach, notably in the media and entertainment spaces.
“No one ever has to come into the bank and explain what they do in entertainment,” Innes told Variety. “These guys can take a deep breath, sit down with their banker and get it done.”