PNC Becomes First Bank To Utilize TARP Funds With Acquisition Of National City
Posted on October 24, 2008 at 10:00 AM EDT
PNC Financial Services Group Inc. (PNC) became the first U.S. bank to make use of the government’s Troubled Assets Relief Program (TARP) with its plans to purchase National City Corp. (NCC). Pennsylvania-based regional bank PNC announced today (Friday) that it would purchase Ohio-based National City in an all-stock transaction that values the ...
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