EXHIBIT 1

         CITY NATIONAL EXTENDS GROWTH STRATEGY TO NORTHERN CALIFORNIA

  City National Corporation (NYSE: CYN), parent company of City National Bank,
   and The Pacific Bank (NASDAQ: PBSF) today announced a definitive agreement
           for the acquisition of $728 million-asset The Pacific Bank

NEWS RELEASE

Contacts:
Financial/Investors
Frank Pekny (City National) 310/888-6700
Ian Campbell (Abernathy MacGregor Frank) 213/630-6550
Steve Bruce (Abernathy MacGregor Frank) 212/371-5999
John Halicky (The Pacific Bank) 415/576-2763 (media also)

Media
Jim Dunnigan (City National) 310/888-6636
Denis Wolcott (Stoorza, Ziegaus & Metzger) 213/891-2822


FOR IMMEDIATE RELEASE
CITY NATIONAL TO ACQUIRE
SAN FRANCISCO-HEADQUARTERED THE PACIFIC BANK

City National Extends Growth Strategy

To Northern California

LOS ANGELES, September 22, 1999 -- City National Corporation (NYSE: CYN),
parent company of City National Bank, and The Pacific Bank (NASDAQ: PBSF)
today announced a definitive agreement for the acquisition of $728
million-asset The Pacific Bank by City National in an approximately 50
percent common stock, 50 percent cash transaction valued at $153 million. The
combination of these two private and business banks marks City National's
strategic expansion into Northern California and will bring its total pro
forma assets to $7.5 billion, based on June 30, 1999 totals.

Under the terms of the agreement, City National will acquire The Pacific Bank
for $29.00 for each of the 5.0 million shares of The Pacific Bank common
stock outstanding. This represents a multiple of 19.9 times The Pacific
Bank's adjusted trailing twelve months earnings and 2.2 times The Pacific
Bank's tangible book value at June 30, 1999. The acquisition will be
accounted for as a purchase. Assuming the transaction closes in the first
quarter of 2000, it is expected to be accretive to both GAAP and cash
earnings in the year 2000.

"This combination marks our entry into the robust Bay Area economy, provides
an excellent platform for our future growth in Northern California and is a
logical extension of our proven formula of delivering premier private and
business banking to a very compelling community and customer base," said City
National Chairman and CEO Russell Goldsmith. "This is the right opportunity
in the right place at the right time with the right partner."

Mr. Goldsmith noted that City National and The Pacific Bank share a similar
focus on delivering superior relationship banking to entrepreneurs,
professionals and small- to mid-size businesses, who will benefit from City
National's expertise in key industries that drive economic growth in both
Northern and Southern California. These include international trade,
technology, real estate, media and entertainment. Moreover, the $1.0 billion
in assets under custody or management in The Pacific Bank's trust division
will be an excellent fit with City National's $13 billion trust and
investment management division.

"This acquisition will deliver significant benefits to The Pacific Bank's
shareholders, employees, customers, and the communities we serve," said
Michael Tun Zan, President and Chief Executive Officer of The Pacific



Bank. "City National will provide us with enhanced banking and lending
capabilities, a broader array of financial products and services, and a
long-standing tradition of community involvement - all of which will help our
combined companies realize the full potential of The Pacific Bank."

When the merger occurs, Mr. Tun Zan will join City National as its senior
banking executive for Northern California. He also will chair a San Francisco
Board of Advisors to be formed by City National, which will consist of key
leaders from the Bay Area.

"We're extremely pleased that Michael has committed to help lead our entry
into Northern California, and we fully expect that most of the other key
members of The Pacific Bank team will continue in key roles in the combined
bank," said Mr. Goldsmith.

While City National said it anticipates that it will invest considerable
resources into growth in Northern California, the combination also will
result in significant cost savings as a result of duplicate corporate and
administrative operations, as well as significant branch consolidations in
Southern California.

The transaction is tax deferred to The Pacific Bank shareholders on its
common stock component and is conditioned upon the approval of regulatory
authorities and the shareholders of The Pacific Bank. The Pacific Bank's
shareholders will receive -- at their election -- cash, common stock or a
combination thereof valued at $29.00 per share provided that the 20-day
average closing City National Corporation stock price three days prior to
closing is between $28.05 and $37.95 per share, with a minimum of at least 47
percent and a maximum of 52.5 percent in common stock. City National
Corporation will use previously repurchased shares for most of the stock
portion of the transaction. In addition, City National has received an option
to purchase 19.9 percent of The Pacific Bank's common stock.

The Pacific Bank, founded in 1983, has 292 employees and 12 offices in San
Francisco, Burlingame, Sacramento, Los Angeles, Hong Kong and the Cayman
Islands. It provides full banking services to middle market businesses,
professional service firms and individuals, as well as international banking
services.

City National Corporation is a publicly owned corporation with $6.7 billion
in assets whose stock is traded on the New York Stock Exchange under the
symbol "CYN." The company's wholly owned subsidiary, City National Bank, is
Southern California's premier business and private bank, as well as the
largest independent bank headquartered in Southern California. City National
Bank has 48 offices throughout Los Angeles, Orange, Riverside, San Diego, San
Bernardino and Ventura counties. City National Investments manages or
administers over $13 billion in trust and investment assets.

For more information about City National, call the Fax-On-Demand Information
Service at 1-800-873-5293, or visit City National's Web site at www.cnb.com.

The company wishes to take advantage of the "safe-harbor" provisions of the
Private Securities Litigation Reform Act of 1995 as to "forward-looking"
statements in this release which are not historical facts. The reader's
attention is drawn to City National Corporation's Annual Report on Form 10-K
for the year ended December 31, 1998, particularly the section entitled
"Cautionary Statement for Purposes of the `Safe-Harbor' Provisions of the
Private Securities Litigation Reform Act of 1995" for a discussion of factors
which could affect the Corporation's business and cause actual results to
differ materially from those expressed in any forward looking statement made
in this release.