City Bank Announces Special Cash Dividend and Regular Quarterly Dividend

On December 12, 2007 - The Board of Directors of City Bank (NASDAQ:CTBK) declared a special cash dividend of $1.00 per share payable to shareholders of record as of December 21, 2007, and payable on January 11, 2008. In addition to the special cash dividend, City Bank’s Board of Directors declared a regular quarterly cash dividend of $.15 per share also payable to shareholders of record as of December 21, 2007, and payable on January 11, 2008. This cash dividend, the 95th paid in the Bank’s 33-year history, is the 77th consecutive quarterly dividend. City Bank is a state-chartered commercial bank founded in 1974 and headquartered in Lynnwood, Washington. Eight banking offices and two mortgage loan production offices serve Snohomish, North King and Pierce counties. City Bank provides a wide range of banking services for business and individuals, including loans for residential construction, land development, mortgage, commercial, Small Business Administration, consumer, and all types of deposits as well as other general banking services. City Bank has been consistently recognized as one of the top performing banks in Washington State as well as nationally.