PNC Financial Services Group Inc. said today that it has completed its acquisition of National City Corp.
The conversion of branches of National City, which is based in Cleveland, is expected to begin in the second half of 2009, PNC said today.
Pittsburgh-based PNC also concluded its sale of $7.6 billion of preferred stock and warrants to the U.S. Treasury under the TARP Capital Purchase Program.
PNC shares were trading at $48.30, up $2.12 (4.59 percent), on the New York Stock Exchange.
- Roslyn Rudolph