Interesting article that may affect many here in Northwestern Ohio about National City Bank:
National City (NCC, Fortune 500) shares plunged as much as 67% Monday, falling as low as $1.25 each, as investors bet the Cleveland-based lender will be the next financial firm to fail.
Yet it seems that the bank is on stronger ground that Washington Mutual for a variety of reasons:
Wagner Amen adds that National City's capital, funding and liquidity "remain ample," and that the bank is operating "from a position of strength." She says National City has a large core deposit base of 4 million household customers, and that base gives the bank the strength to say that it has "no plan, intention or need to raise new capital" or otherwise take unusual action.
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