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National City branch in Springboro, Ohio.. National City Bank was founded on May 17, 1845, when a group of Cleveland, Ohio businessmen pooled $50,000 to organize the City Bank of Cleveland, the first bank opened under the Ohio Bank Act of 1845 in a small town with no gas, electricity, public waterworks, or railroad. [8]
National City Bank can refer to several entities: Companies. National City Corp., based in Cleveland, Ohio; National City Bank of New York, now Citibank; Buildings
The transitional logo used by PNC Financial Services after it finalized the purchase of National City Corp., January 2009 –June 2010.. The National City acquisition by PNC was the deal by PNC Financial Services to acquire National City Corp. on October 24, 2008 following National City's untenable loan losses during the subprime mortgage crisis.
In 1916, he became vice-president of National City Company, which he reorganized into a private investment banking firm. Shortly after, he relocated to Tuxedo Park, New York. [citation needed] Nicknamed "Sunshine Charley", Mitchell was elected president of National City Bank (now Citibank) in 1921 and, in 1929, was appointed chairman. Also in ...
The structure was renamed the National City Bank Building after the renovation was complete in 1921. [15] National City Corp. suffered extremely heavy financial losses on mortgages during the 2007-2009 Great Recession. Despite a $7 billion infusion of capital, the bank was sold at below-market-value in October 2008. [16]
Frank Arthur Vanderlip Sr. (November 17, 1864 – June 30, 1937) was an American banker and journalist.He was president of the National City Bank of New York (now Citibank) from 1909 to 1919, and Assistant Secretary of the Treasury from 1897 to 1901.
In 1963, the company merged into the First National City Bank (which itself was a result of the 1955 merger of the National City Bank and the First National Bank into The First National City Bank of New York; [7] which was shortened to First National City Bank in 1962). [8] In 1976, the First National City Bank's name was changed to Citibank, N.A.
In 1921, following a collapse of sugar prices in Cuba, he acted on behalf of National City in dealing with the problem (his family interests had been in providing machines for the industry). In 1923 he was offered a directorship at the company at the age of 38—the youngest director in the bank's history at the time.