Wow, I just got a letter from National City Bank saying....

[PassingFair]

that they are NOW a PART of "PNC Financial Services".

Doesn't even tell me what the "PNC" stands for...

:eyes:

Anyone else bank at the bank formerly known
as NATIONAL CITY?

WTF? Is it even a bank?

http://www.ffiec.gov/nicpubweb/nicweb/InstitutionHistory.aspx?parID_RSSD=1069778&parDT_END=99991231

[Oceansaway]

1. all the National City Banks here

were taken over by Wells Fargo....

[Veritas_et_Aequitas]

2. Pittsburgh National Corporation.

[PassingFair]

3. Here's what they've got on their website...

http://www.welcometopnc.com/docs/CorpProfile_FactSheet_1208.pdf

Did you know about this take-over/merger/WTF?

[Veritas_et_Aequitas]

5. No, but they tend to gobble up little banks.

And now's the time when lots of little banks are getting gobbled up. The small chain of banks I worked for in college was recently bought out by a larger competitor.

[PassingFair]

6. I idiotically thought that National City was a BIG bank.

Guess it's considered small potatoes.

[Veritas_et_Aequitas]

13. Meh. A few towns over from me lies Foxboro Federal Bank.

I think they have three branches at most.

[AndyA]

4. I used to have a mortgage through PNC, and I liked them pretty well.

Then they sold it to Washington Mutual, which I didn't like, so I refinanced and moved it elsewhere.

But I had no problems with PNC, and found their customer service to be pretty good, although it's been a few years back.

[slipslidingaway]

7. Where Did The Bailout Billions Really Go?

http://www.cbsnews.com/stories/2009/01/12/eveningnews/main4717298.shtml?source=mostpop_story

"...But once the bill became law on October 3, Henry Paulson's Treasury Department moved quickly on an entirely different front: Give bailout money to select banks to help them buy competitors. It was largely under the public radar, with only anonymous government officials acknowledging the strategy, CBS News investigative correspondent Sharyl Attkisson reports...


...Take PNC Bank and National City. Both wanted bailout money but only PNC got it: Then, it bought National City. Rep. Kucinich is from Cleveland, where National City was based. He grilled the Treasury official in charge of the bailout, Neel Kashkari, saying in the Nov. 14 hearing: "You picked a winner, PNC, and you picked a loser, National City Bank."


..."Well, with deep respect, you know, you put 4,000 people out of work in the city of Cleveland," Kucinich said. "You're, you know … are you taking a Fifth Amendment here?"

"No, sir," Kashkari said. "I don't think it's a good use of taxpayer money to put taxpayer capital into a financial institution that's going to fail."

"Boy, you know that statement that you just made you will hear about for the rest of your career," Kucinich said..."

[PassingFair]

11. Thank you for that excellent link!

I feel like all of our money is in "play".

[slipslidingaway]

12. You're welcome and nice visual :) Senator Cantwell said

something similar about picking winners and losers when she voted against the original bailout bill. This was before the TARP money was available, but the practice of picking who lives and who dies preceded the vote. Guess we'll look back on this period when most of the money is consolidated into fewer hands and ask why more was not done to prevent this from happening.

:(

http://cantwell.senate.gov/news/record.cfm?id=303998

"...But I am very concerned about the "pick here, pick there" approach that has transpired in the last several weeks.

“I ask you to just think of one institution, in my State, Washington Mutual -- which I would not necessarily applaud for its subprime lending rates or for its use and backing of credit default swaps, but I would ask you to consider the fact that as that institution was forced into sale by this Government,


“Who were the winners and losers in that?


“J.P. Morgan got the assets of that institution and benefited from that. In fact, J.P. Morgan predicted to me on a conference call the night they acquired Washington Mutual that after one year with their investment, they would have an over $500 million on that investment. That is a 27 percent returned in one year..."

[woodsprite]

8. We have dealt with PNC since 1981 and have always liked them.

They seem to put alot of effort into improving customer service. PNC bought Bank of Delaware out YEARS ago, which is actually how we ended up as their customers.

[shirlden]

14. I had PNC for years

They were a great bank to do business with and were very customer friendly. I had loans..personal and business and checking and MM accounts. I only changed when I moved and wanted a bank closer to home.
However, now that they are getting bigger, they may change and likely will. Seems like the bigger the bank, the less customer friendly.

[Plausible]

9. PNC and National City

National City was taken over by PNC a couple months ago. Apparently National City was having some financial problems.

http://www.bankrate.com/brm/safesound/commmm.asp?fedid=817824

[PassingFair]

10. I knew that their ratings were in the sewer, but I didn't know they'd been taken over...

wheeeeee!