EXHIBIT 13.1

                          REPORT OF PRICE WATERHOUSE,
                             DATED JANUARY 13, 1993

 
[PRICE WATERHOUSE LETTERHEAD]



                       REPORT OF INDEPENDENT ACCOUNTANTS
                       ---------------------------------


January 13, 1993


To the Board of Directors
and Shareholders of
City National Corporation


In our opinion, the consolidated statements of operations, of cash flows and of
changes in shareholders' equity for the year ended December 31, 1992 (appearing
on pages 43 through 45 of City National Corporation's 1994 Annual Report to
Shareholders which has been incorporated by reference in this Form 
10-K Annual Report) present fairly, in all material respects, the results of
operations and cash flows of City National Corporation and its subsidiaries
for the year ended December 31, 1992, in conformity with generally accepted
accounting principles. These financial statements are the responsibility of the
Company's management; our responsibility is to express an opinion on these
financial statements based on our audit. We conducted our audit of these
statements in accordance with generally accepted auditing standards which
require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for the opinion expressed above. We have not audited the
consolidated financial statements of City National Corporation for any period
subsequent to December 31, 1992.



/s/  Price Waterhouse LLP