National City

Banking company serving the Midwest.

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1900 East Ninth Street
Cleveland, Ohio 44114
Employees: 31,000+
CEO: Peter Raskind
Stock Symbol: NCC


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National City is the eighth largest bank holding company based on assets. It operates an extensive banking network of 1,100+ branches in Ohio, Illinois, Indiana, Kentucky, Michigan, Missouri and Pennsylvania, and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management.

Total assets reported at National City were $140.1 billion. Total deposits were $87.2 billion.

In 2006, the company had revenues of $12.9 billion and net income of $2.29 billion.

National City said it would exit its wholesale mortgage division in January and would cut 900 jobs. The company said it has reduced jobs by 3,400 going into 2008.

The company was founded in 1845.


Health benefits
Several medical and dental plan options are available for employees and their dependents that offer a range of coverage. A portion of the coverage is subsidized by National City.

Reimbursement account plans
Employees may contribute to the Plans on a pre-tax basis and receive reimbursement for medical, dental, and dependent care expenses.

Voluntary eye care coverage
The Eye Care Plan covers periodic eye exams and discounts on prescription eyewear.

Group Life and Accidental Death & Dismemberment (AD&D) insurance Newly hired full-time employees are covered at two times their eligible pay at no cost, to a maximum of $3 million for life insurance and $250,000 for AD&D coverage. Newly hired regular part-time employees are covered at $10,000 (no cost) for both life insurance and AD&D coverage. Employees may also elect to purchase additional life and AD&D insurance coverage.

Voluntary personal accident insurance
Employees can purchase this coverage for themselves and their dependents.

Dependent life insurance
Employees can purchase this coverage for their dependents.

Short-term disability Full-time employees are eligible for salary continuation for short-term disabilities following 90 days of service. Coverage increases as service time increases.

Long-term disability
After one year of employment, full-time employees are covered at 60 percent of eligible pay at no cost. Other options are available during the annual Flex enrollment period.

National City provides a 401(k) plan which allows pre-tax contributions up to 20 percent of combined cash compensation (generally, base pay and up to $75,000 of certain additional pay), subject to IRS limits. Eligible employees also receive matching employer contributions of $1.15 for every $1.00 contributed up to 6 percent of pay. Eligible employees can contribute to National City's plan, on an unmatched basis, effective the first of the month after 30 days of employment and attainment of age 21. National City will begin making matching contributions on the first of the month following one year of service. Employees may also be eligible to rollover funds from a former employer's qualified retirement plan.

To help employees enjoy the years that follow a rewarding career, National City offers a Non-Contributory Retirement Plan. Eligible employees participate in the plan after completing 1000 hours of service in the 12-month period that starts on date of hire (employees must be age 21). Employees are vested after five years of service. This benefit is provided at no cost to employees.

Time away from work
In most locations, National City offers 10 paid holidays in addition to paid vacation days. Employees hired in the first quarter of the year are eligible for one week of vacation with pay after six months of service and two weeks of vacation the following calendar year.

If you are hired after the first quarter of the year, you will be eligible for two weeks of vacation in the next calendar year after nine months of service.

Educational assistance
Full-time and part-time employees may receive assistance to help cover the expense of continuing education (including some graduate school expenses).

Employee stock purchase plan
Employees have an opportunity to purchase shares of National City common stock through the Employee Stock Purchase Plan.

Employee discounts on select products and financial services National City also offers employees service charge-free checking accounts, including personalized checks, automatic payroll deposit, reduced finance charges/no annual fee on National City MasterCard or Visa accounts, free traveler's checks and reduced interest rates on installment loans and fees on installment and mortgage loans.

Updated January 3, 2008