The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago.
By midyear, another 3.1 million customers and 710 branches are expected to be switched over ahead of schedule, said Thomas
K. Whitford, PNC vice chairman and co-leader of the National City integration.
PNC in Pittsburgh was the first bank to use money obtained under the government's $700 billion bailout program to make
a bank acquisition, spending $5.6 billion in October 2008 for National City of Cleveland.
The banks had been hit mortgage costs following the housing bust and National City has been weighed down even further by
Ohio's struggling economy.
The final phase of converting National City banks to PNC will involving 1.6 million customers and 390 branches in Indiana,
Illinois, Missouri and Wisconsin is scheduled for June.