Bailout Merger No. 1: PNC and National City

I just received all of these new conditions, privacy statements, and a new banking card from PNC. I am now switching to a local bank and keeping my money there because PNC accepted money from the government. I do not believe in 'hand-outs' and any company that needs one will not survive in the long run.

Plus any bank (especially local) that survived the recession gets an A+ in my book.

Joe of IN 1:15AM June 10, 2010

The trust I manage for my in-laws went from over $100,000 in Nat City stock to a little over $3500.00 this week, and the end is not here.. Regios bank is worse! The trust was at $1,200,000.00 (Regions) at the middle of 2007. It's now under $175,000.00. That means the lifetime savings of two 90 year old nursing home patients are gone. They saved for a lifetime and invested in what they thought was safe, conservative stock.

The financial community should really be held accountable, somehow!

Russ Lay of KY 11:58AM January 19, 2009

I work for Keybank and I been monitoring the rumors and facts of the PNC NCB buyout. From the view point of a rival bank, this sale eliminates competition, but as a resident of Cleveland and customer of NCB, this is heartbreaking.

From what I heard, NCB's was in really bad shape. Something must've been wrong because they just received a 7 billion dollar injection this april. Rumors have been circulating since then about their buyout.

I honestly think this is gonna turn out to be one of the biggest conspiracy's once the dust has cleared.

1. Though in horrible standing, analysts have been saying that they were surprised that NCB sold for as low as it did when it didnt have to. I think NCB was partially pressured into selling after threats to lose its charter

2. PNC could get a tax break for buying NCB for 5 billion dollars. This would make the PNC NCB merger free basically.

3. The man that approved PNC's funds and denied NCB is Scott Talbot. Talbot and PNC share a little history which is partially why the acquisition was investigated.

4. Some of the execs including NCB's current president are going to be migrating into exec positions at PNC and some will receive a nice going away package while tons of others lost their jobs.

5. Currently, many NCB shareholds are suing to stop the sale. Normally major sales like this buyout are for the purpose of at lease satisfying shareholders if not NCB customers. Chances are they werent informed that NCB would sell...most of the time, they have to vote on it. In fact, part of the law suit includes a vote to stop the sale.

Though theres probably no chance of NCB coming back from this now, my hope would have been for NCB to rebound from its horrible morgage lending, bad books, ruined rep, and increase its stock. Losing NCB is going to devastate Cleveland, but we shall see what happens.

Earl W. of Keybank of OH 7:04PM December 11, 2008

I'm a bit of a novice at all this, but on CNBC this morning a senator (I believe) from NCC's home state was grilling Paulson and others about why NCC was not given any monies as part of the TARP program...or something along these lines. What I got out of it was that NCC was not given any funds to stay in business, and that the TARP funds are given out on a very discretionary basis. So essentially the government helped NCC stay in a weakened state. Thus other banks that have access to TARP funds now come in and take over the weaker bank...the bank that would have been much more stable had they been given access to the same funds PNC was.

Joe of OR 1:31PM November 18, 2008