Posted: Tue Jul 15, 2008 1:38 am Post subject: National City preparing for bank run?
National City Bank trading halted
Quote:
National City Corp. said on Monday that it's experiencing no unusual activity by depositors or creditors as the regional bank tried to calm investors. At the end of last week, the bank said it had more than $12 billion of excess short-term liquidity. After raising $7 billion in new capital earlier this year, National City has one of the highest Tier 1 regulatory capital ratios among large banks, the company added. National City shares fell 28% to $3.20 on Monday before being halted. Shares of Washington Mutual Inc, another large bank, dropped 26% to $3.66
National City, the nation's 10th largest bank, reported a loss of $333 million in the fourth quarter. It slashed its dividend and reported a $171 million loss in the first quarter
Posted: Tue Jul 15, 2008 7:36 am Post subject: Re: National City preparing for bank run?
My dad banks with them, and I've tried to talk him into switching banks, but he expects either another bank to buy them or FDIC to step in. He's probably right, but to me, its better to go ahead and put my money somewhere less risky.
Posted: Wed Jul 16, 2008 12:06 pm Post subject: Re: National City preparing for bank run?
z28colt wrote:
My dad banks with them, and I've tried to talk him into switching banks, but he expects either another bank to buy them or FDIC to step in. He's probably right, but to me, its better to go ahead and put my money somewhere less risky.
In a coffee can in the ground _________________ Tired of high gas prices? Then stop driving to work, duh..... Learn to Work from home
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Then stop driving to work, duh..... 
