Articles

PNC-National City conversion ahead of schedule

The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago. Branches in Indiana are set to switch over in June.

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PNC to pay back bailout money, sell division

PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.

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Local SBA lending dropped 17 percent in 2009

Local loans issued through the Small Business Administration’s popular 7(a) guarantee program plunged by an astonishing 64
percent for three of the city’s four largest banks during 2009, while overall lending in the program slipped 17 percent in
the metro area.

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Turmoil forces National City sale

After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based
PNC Financial.

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Bailout helping PNC take over NatCity

After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based PNC Financial. The $5.6 billion deal raises questions about the government’s growing involvement in banking.

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