National City - M&A Summary, Ownership, and Business Overview

Financial ServicesCompany

National City M&A Summary

National City has acquired 3 companies of its own. A total of 1 acquisition came from private equity firms. It has also divested 1 asset.

National City’s largest acquisition to date was in 2004, when it acquired Provident Financial Group for $2.1B. It’s largest disclosed sale occurred in 2006, when it sold First Franklin Financial Co to Merrill Lynch Wealth Management for $1.3B. National City has acquired in 3 different US states. The Company’s most targeted sectors include financial services (100%).

National City Ownership

Who owns National City?

National City is owned by The PNC Financial Services Group. It was acquired on December 31, 2008.

National City Business Overview

Where is National City headquartered?

National City is headquartered in Cleveland, Ohio.

How many employees does National City have?

National City has 29,828 employees.

What sector is National City in?

National City is a financial services company.

When was National City founded?

National City was founded in 1845.

M&A Summary

  • M&A Total Activity4
    • M&A Buy Activity3
    • M&A Sell Activity1
  • Total Sectors Invested 1
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 2

National City Corp.

1900 East 9th Street National City Center,
Cleveland, Ohio 44114
United States,
(216) 222-2000
www.nationalcity.com

National City Corp. is a mortgage banking organization with over 300 offices. The Company provides mortgage services and is now a part of PNC.


M&A Summary

Buy vs Sell

Year ≤ '01 '02 '03 '04 '05 '06 T
Buy (0.4/yr) # 1 - - 1 - 1 3
vol $2.1B $1.1B $3.2B
Sell (0.2/yr) # - - - - - 1 1
vol $1.3B $1.3B
  4

Most Recent M&A

Company Date Value Type
First Franklin Financial Co, Inc. 2006-09-05 1.3B USD Divestiture
San Jose, California
Harbor Florida Bancshares Inc. 2006-07-12 1.1B USD Add-on Acquisition
Fort Pierce, Florida
Provident Financial Group Inc. 2004-02-18 2.1B USD Add-on Acquisition
Cincinnati, Ohio · www.providentbank.com
First Franklin Financial Co, Inc. 1999-07-27 - Add-on Acquisition
San Jose, California
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Financial Services 3 (100%) 3.2B (100%) 1 (100%) 1.3B (100%)
Total 3 $3.2B 1 $1.3B

By Geo

State/Country Buy Value Sell Value
United States 3 3.2B 1 1.3B
  California 1 - 1 1.3B
  Ohio 1 2.1B - -
  Florida 1 1.1B - -
Total 3 $3.2B 1 $1.3B

Deal Values

buy # Total
> $1B 2 $3.2B
TOTAL $3.2B
Largest Provident Financial Group Inc.
$2.1B (2004-02-18)
sell # Total
> $1B 1 $1.3B
TOTAL $1.3B
Largest First Franklin Financial Co, Inc.
$1.3B (2006-09-05)

M&A Connections

Deals
Acquired from
Investor(s)
33%
1 (33%)
Divested to
Strategic(s)
100%
1 (100%)

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