City National Bank

City National Bank started in 1971 when a group of African American community leaders recognized a tremendous economic void in Newark, the largest urban center in New Jersey. Charles L. Whigham, a prominent local businessman, spearheaded a grassroots effort to raise capital. Walking door-to-door, the founders met with church groups, individuals & various organizations to sell stock in the bank. In less than two years, $1.2 million was raised when nearly 1,800 shareholders purchased 60,000 shares. In 1973, City National Bank of New Jersey was established as a full-service commercial bank. Preston D. Pinkett, III is Chairman & CEO.