September 30, 200818 yr I heard or read somewhere yesterday that National City Bank would be the next major bank to bite the dust. I can't find the story today, though. Has anyone else heard anything like this?
September 30, 200818 yr It seems like a possibility. http://money.cnn.com/2008/09/29/news/national.city_deposits.fortune/?postversion=2008092915
September 30, 200818 yr Author A friend of mine has some accounts there and was wondering if she should pull her money out and run.
September 30, 200818 yr A friend of mine has some accounts there and was wondering if she should pull her money out and run. No! That is the worst thing that could happen. National City is FDIC ensured.
September 30, 200818 yr I'm in Banking and like to feel I know a little about what's going around. It's no secret that Nat City is in trouble. I do know of a couple of different organizations that have pulled their money out and it totalled millions. (all within the last few days.) Currently their stock is at 1.85 or up around $.49 today.
September 30, 200818 yr No! That is the worst thing that could happen. National City is FDIC ensured. Up to $100,000 per account, right?
September 30, 200818 yr National City Bank is in trouble trust me. Their HQ is in Cuyahoga County and there were 72,000 foreclosures in that county alone last year. I would have to think they have a bunch of those on their books. There will be only 4 big banks to survive this mess. Wells Fargo, Citibank, US Bank and PNC. JMO
September 30, 200818 yr National City Bank is in trouble trust me. Their HQ is in Cuyahoga County and there were 72,000 foreclosures in that county alone last year. I would have to think they have a bunch of those on their books. There will be only 4 big banks to survive this mess. Wells Fargo, Citibank, US Bank and PNC. JMO Well then, good thing that I am with 5th/3rd.
September 30, 200818 yr I'm with Community Trust Bank...but even if they took all my money it wouldn't mean much... I don't have a lot. :lol:
September 30, 200818 yr National City Bank is in trouble trust me. Their HQ is in Cuyahoga County and there were 72,000 foreclosures in that county alone last year. I would have to think they have a bunch of those on their books. There will be only 4 big banks to survive this mess. Wells Fargo, Citibank, US Bank and PNC. JMO Whitfield issued a statement that contained the following... 1. The Federal Deposit Insurance Corporation (FDIC) in its most recent quarterly report indicates that there were 8,451 banks in America and 98.4 percent are well capitalized. In other words, only 1.6 percent of our nation's banks have a financial problem. Now how is it only 4 banks will survive this?
September 30, 200818 yr Well then, good thing that I am with 5th/3rd. 5/3 is in a very bad footprint themselves. They have to deal with OH, MI, Fla, TN and Ky and I have friends that work for them in their mortgage origination division. Dont think they are not still injecting poison into the economy and will soon be reporting more defaults on mortgages. They have automatic underwriting systems that give them the green light to not check income, assets or get an appraisal. I dont know what the percentage of their deals are that get approved under this but its still going on. The good news is they are a conservative bank and they will most likely get consumed by another bank here shortly.
September 30, 200818 yr Whitfield issued a statement that contained the following... Now how is it only 4 banks will survive this? You took my posts literally. There will be many regional banks left who still make loans the old school way and are conservative but as far as the BIG Banks there will basically be 4 left standing when the smoke clears.
September 30, 200818 yr You took my posts literally. There will be many regional banks left who still make loans the old school way and are conservative but as far as the BIG Banks there will basically be 4 left standing when the smoke clears. So you think Bank of America is done?
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