National City Corp.

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National City Corporation

Type	Public (NYSE: NCC)
Founded	1845
Headquarters	Cleveland, Ohio, USA
Key people	David A. Daberko, Chairman and CEO
Industry	Finance
Products	commercial and retail banking, mortgage financing and servicing, consumer finance and asset management
Revenue	$8.653b (7.7%) FY 2006
Net income	$2.3b (15.9%) FY 2006
Employees	31,270 (2006) Full-Time
Slogan	"We make banking simple."
Website	www.nationalcity.com

National City Corporation (NYSE: NCC), based in Cleveland, Ohio, is one of the ten largest banks in America in terms of deposits. The company operates through an extensive banking network primarily in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Florida, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management.

1 History
2 Recent Transactions
3 Marketing
4 External links

[edit] History

National City Bank was founded in 1845 in Cleveland, Ohio.

[edit] Recent Transactions

National City has been on an acquisition spree of late, including its $2.1 billion purchase of Cincinnati-based Provident Financial Group in 2004. In addition, in 2005, National City acquired Allegiant Bancorp to secure a presence in the St. Louis, MO market. In 2006 they acquired Fidelity Bankshares Inc. for an estimated $1 billion dollar deal that is half cash, half stock. Also acquiring Harbor Florida Bancshares Inc. through a $1.1 billion stock deal, both banks are located in Florida. Combined it gives National City 7.4 billion of assets in Florida. It also gives National City 94 branches in a market that is growing quickly. On the other side of the ledger, National City sold to Bank of America its 83% stake in National Processing Company, which earns fees from processing merchant credit card transactions. The sale of San Jose, Calif. based First Franklin origination franchise and related servicing platform to Merrill Lynch & Co. was completed on Dec. 30th, 2006 for $1.3 billion.

[edit] Marketing

In 1998, they had a commercial with their old theme song "Life Is a Highway" by Tom Cochrane.
In early 2007, National City introduced their "Best in Class" programs, which include:
- National City Points, where customers earn points for everyday transactions on certain accounts, including check writing, online bill payments, and signed card transactions. Similar to credit card rewards programs, customers can use these points to redeem items that range from gift cards to vacation packages.
- Free checking accounts without ATM fees for transactions at non-National City ATMs. In addition to not charging the fee themselves, any usage fees charged by the ATM owner are reimbursed.