National City Corporation
Stock Symbol: NCC
1900 East Ninth Street
National City Corporation Industry:
National City Corporation Description:
National City Corporation is a $106 billion financial holding company headquartered in Cleveland, Ohio. Through its subsidiaries, the company provides a full range of financial services including investment banking and traditional banking services to individuals and businesses, including commercial and retail banking, consumer finance, asset management, mortgage financing and servicing and item processing. National City has offices in Ohio, Pennsylvania, Indiana, Kentucky, Illinois and Michigan.
National City Corporation Financial Summary:
For the nine months ended 30 September 2005, National City Corporation's total interest income rose 31% to $5.73B. Net interest income after loan loss provision rose 14% to $3.46B. Net income fell 13% to $1.59B. Net interest income reflects higher interest earning assets, partially offset by an increase in interest expense. Net income also reflects an increase in personnel expenses.
National City Corporation Business Summary:
National City Corporation (NCC) is a financial holding company. Its core businesses include commercial and retail banking; mortgage financing and servicing; consumer finance, and asset management. At December 31, 2004, National City was organized and managed along five major business lines, consumer and small business financial services; wholesale banking; National City Mortgage Co; national consumer finance (NCF); asset management, and Parent and other. During the fiscal year ended December 31, 2004, the Company completed the acquisition of three financial institutions: Allegiant Bancorp (Allegiant), located in St. Louis, Missouri; Provident Financial Group (Provident), based in Cincinnati, Ohio, and Wayne Bancorp (Wayne), in northeastern Ohio. In addition, the Company sold its payment processing business, National Processing, Inc., in 2004, and its bond administration business in the second quarter of 2004.