Entries tagged "PNC Bank"
Five more bank were shut down this weekend by the Federal Deposit Insurance Corp., bringing the number of bank failures this year to 77.
Pittsburgh-based regional bank PNC Financial Services Group Inc. is bulking up with the $5.2 billion all-stock acquisition of troubled peer National City Corp. Shareholders in both banks initially were none too pleased with the deal, as PNC fell 0.1% to $55.75 in early trading (by 10 a.m. it rebounded and became the only financial stock on Dealscape's Bank Watch list in positive territory), while the bottom fell out from National City, which plummeted 28.7% to $1.96....
