Chase stays atop ranking of biggest banks in Indy
As of June 30, New York-based Chase held $8.6 billion in deposits within Marion County, which represents a local market share of 30.1 percent.
As of June 30, New York-based Chase held $8.6 billion in deposits within Marion County, which represents a local market share of 30.1 percent.
Huntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.’s purchase and renovation of a building on East Washington Street downtown.
Pittsburgh-based bank starts converting former National City operations in central Indiana to its brand this weekend. But
any snags could create
opportunities for competitors to pounce on customers.
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
name.
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.
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.
The bank’s $1.01 billion in profit and its $5.08 billion in revenue were better than analysts expected.
As PNC digests its acquisition of National City Corp., it probably is pulling out the stops to protect the lucrative customers
from being lured away by competitors.
PNC Financial is still digesting its $5.6 billion acquisition of National City Corp., but a quiet fight almost certainly
is under way over its lucrative private banking clients.
The housing meltdown and recession gave banks in Indiana and across the nation their biggest test in decades.
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.
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger between PNC
Financial Services Group Inc. and National City Corp., as well as the recession and PNC’s strategy.
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.
“I have no intention of retiring â?? now or ever,” said Steve Stitle, CEO of National City Bank in Indiana, after the bank
was purchased by PNC Financial.
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.