The Board of Directors of CityBank (NASDAQ:CTBK) today declared a special 

cash dividend

 of $1.00 per 

share

, payable to 

shareholder

 of 

record

 as of November 12, 2004, and payable on November 26, 2004.

With the lower 

tax

 rates on dividends, 

cash dividend

 are the most efficient way to return 

capital

 to 

shareholder

. Paying an increased dividend gives 

shareholder

 more 

option

 as to the use of their 

share

 of the Bank's 

profit

.

CityBank 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. CityBank provides a wide 

range

 of 

banking

 services for business and individuals, including 

loan

 for residential construction, commercial, Small Business Administration, 

mortgage

 and 

consumer

, and all 

type

 of deposits as well as other general 

banking

 services. CityBank has been consistently recognized as one of the 

top

 performing banks in Washington State as well as nationally.