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BRIEFLY

City National is selling its Instant Teller unit.

June 17, 1987

The Beverly Hills bank said it was selling the automated teller network to Automatic Data Processing Inc. (ADP) of Roseland, N.J., the nation's largest independent computing services firm. Instant Teller is the trade name for a shared network linking 1,300 teller machines operated by 410 banks and savings and loans in the western United States. Terms of the sale were not disclosed. City National President Alex Kyman said that users of the teller machines would not be affected by the deal, although eventually they may be able to use their cards at 8,000 ADP-operated machines on the East Coast.

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