Yes, create Calculated Columns, one for the city and one for the state. There are two approaches, one easy, one trickier.

The easy one - if the format is always City, ST where the state is a two letter abbreviation, then use Right({Address3}, 2) to grab the state and Left({Address3}, length({Address3} - 4)) to grab the city.

If the format is not always City, ST then I will explain the other approach.

Steve