Erik Weiner, President, Central Florida Market, City National Bank of Florida

In an interview with Invest:, Erik Weiner, Central Florida market president of City National Bank of Florida, talked about the bank’s growth in Central Florida and the advantages of being present in Florida for the past 78 years. He also discussed how the bank is harnessing AI to achieve efficiencies in its back office.

What have been some of the highlights for City National Bank in the Greater Orlando region in the past year?

City National Bank continues to grow in the Central Florida market, and we are expanding our team in the region. We are now approaching 2,000 clients in Central Florida and recently crossed the $2 billion mark in assets, up from approximately $500,000 just five years ago. Additionally, we have added to our local advisory board and continue to expand our relationship as the official bank of the Orlando Magic, which includes many business and community partners. Our people are actively involved with local non-profit organizations and sit on Boards of multiple organizations. I believe we are having a very positive impact on Central Florida’s community and on the clients we serve.

What are the key characteristics that make Greater Orlando an attractive place for businesses to relocate to?

There are a significant number of people moving into this market and there is a fantastic support network with a pro-business local government and an active and engaged Orlando Economic Partnership. This is no longer just a tourism economy. It has diversified to include a strong and diverse industry profile and is energized around supporting continued growth.

Beyond that, Orlando is a great place to live with desirable year-round weather, world-class entertainment, no state taxes, an excellent educational system and Universities, and a true community feel. The population growth will continue to drive opportunities for businesses that relocate here.

What factors differentiate City National Bank from other competitors in the Greater Orlando region?

We are one of the largest banks headquartered in the state and truly understand our markets, thanks to having operated here for the past 78 years. We know the industries that are here and what makes them tick. Additionally, our decision-making takes place in Central Florida, as our leadership sits here in the market. We offer products and services with the technology and sophistication that the largest banks in the country can offer, but we also deliver it with local decision-making and local touch, which provides a strong competitive appeal to our clients.

What is the strategy of City National Bank to leverage technology and innovation?

We aim to lead with proactive advice for our clients. Technology often plays a major role as we use data and insights to help clients become more efficient and reduce fraud. Clients often find themselves just accepting the products and services they have always used. We view our role as educating clients and demonstrating leadership by coming to the table with new ideas to help businesses be more successful and secure while navigating the new technologies that are constantly available to help them succeed.

How do you expect artificial intelligence to impact the banking workforce?

It will definitely have an impact, which will continue to grow over time. At City National Bank, we are already using AI to create efficiencies in the back office so that our people can maximize time in front of our clients and minimize time spent on routine administrative tasks. Additionally, AI helps our bankers do better research when visiting clients, which allows for better industry insight, quicker and more relevant information gathering, and ultimately better conversations and advice. 

What are the overarching challenges that you have identified in the banking and finance sector?

At CNB, we are well-positioned to manage different industry challenges. We have long and stable client relationships, not just transactional business. We work very closely with clients to ensure diversification of revenue streams with multiple products and services and that our clients are very educated on new capabilities so they can be sure they are maximizing efficiencies within their organizations.

What products and services will be the main drivers of growth for City National Bank in the near term?

There is a major need for capital in the marketplace. Many banks have become more conservative with their lending requirements, so businesses in the community are left without a solution for their growth requirements. Because of that, lending for working capital, equipment, and real estate will have significant importance. That must be accompanied by strong and effective fraud protections and a robust treasury management platform.

Companies and individuals are savvier in terms of what is available in the marketplace and look for holistic relationships instead of transactional business. They want a bank that can provide great solutions for their business, the owners and executives of the business, and their employees. They want a full range of products and services from lending, competitive deposit and treasury management products, private banking, and wealth management. City National Bank is all about understanding the holistic approach to a company’s needs and providing full-relationship solutions. That approach will be the main driver of growth in the near term and into the future.

What are the outlook and top priorities for City National Bank in Greater Orlando over the next two to three years?

We have so much potential for growth in Orlando over the coming years. While we have grown significantly, we are just scratching the surface. Our number one priority is to continue to get out into the market and stay engaged with our clients and prospects. As many of our competitors remain internally focused, we continue lending to support our clients’ ambitions. Some requirements and terms may be different because of our disciplined approach to lending, but we remain committed to supporting the market.

There is a huge opportunity for us to continue growing and adding value for our clients. Our differentiated model provides more flexibility, creativity, and client service than most big banks can offer. Moreover, we offer significant capabilities in terms of sophistication, technology, and lending capabilities than most community banks. We aim to capitalize on our differentiation and get it in front of clients as much as we possibly can over the next few years.