City National Bank on Monday said it has entered into a definitive agreement to acquire First American Equipment Finance for an undisclosed amount.

First American Equipment of Rochester, N.Y. is a private company that leases technology and office equipment to educational and nonprofit organizations. Leases typically range between $250,000 and $43 million, said the Los Angeles bank.

The all-cash deal, terms of which were not disclosed, will be modestly accretive to earnings this year, City National said. First American’s existing managers will continue to lead the company as wholly owned subsidiary of City National Bank. The deal is expected to close in the second quarter.

“In order to expand its long-standing leasing business, City National identified First American Equipment Finance as the best company to add to its organization,” said City National’s chief executive, Russell Goldsmith, in a statement.

Shares were up 1 cent, or less than 1 percent, to $51.61 in midday trading in the New York Stock Exchange.