City National Bank of New Jersey in Newark has completed a $20 million recapitalization. The $257 million-asset bank raised capital from several investors including Skopos Impact Fund, Prudential Insurance Co. of America and Industrial Bank of Washington, D.C. The recapitalization will allow City National to continue as a certified CDFI. “For more than four decades, City National Bank has worked to revitalize urban areas. We are excited that a number of top-tier impact investors have deemed our efforts worthy of support,” said City National Bank President and CEO Preston Pinkett. City National Bank continues to operate under a December 2010 consent order from the OCC.