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Report: National City Seeking Buyer

National City Corporation is reportedly in talks with several potential buyers.A report in the Wall Street Journal today Thursday said the suitors may include Pittsburgh-based PNC Financial Services Group and Bank of Nova Scotia, based in Toronto.Cleveland-based National City is the largest bank in Kentucky when measured by deposits.Indiana University Southeast business professor Uric Dufrene says National City has been hit hard by high-risk mortgage loans but would still be an attractive buy."Along with it would come a very strong deposit base and there is right now I think certainly we're going to see a trend where banks in general are going to rely more on deposits than on other means of financing," Dufrene said.National City officials declined to comment on the Wall Street Journal report.   

Rick Howlett was midday host and the host of LPM's weekly talk show, "In Conversation." He was with LPM from 2001-2023 and held many different titles, including Morning Edition host, Assignment Editor and Interim News Director. He died in August 2023. Read a remembrance of Rick here.

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