Huntington National Bank and PNC Bank claim they are owed roughly $25 million on loans related to Broadbent Co.’s purchase and renovation of a building on East Washington Street downtown.
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City
As PNC digests its acquisition of National City Corp., it probably is pulling out the stops to protect the lucrative customers
from being lured away by competitors.
PNC Financial is still digesting its $5.6 billion acquisition of National City Corp., but a quiet fight almost certainly
is under way over its lucrative private banking clients.
Local loans issued through the Small Business Administration’s popular 7(a) guarantee program plunged by an astonishing 64
percent for three of the city’s four largest banks during 2009, while overall lending in the program slipped 17 percent in
the metro area.
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger between PNC
Financial Services Group Inc. and National City Corp., as well as the recession and PNC’s strategy.
“I have no intention of retiring Ã¢?? now or ever,” said Steve Stitle, CEO of National City Bank in Indiana, after the bank
was purchased by PNC Financial.