NATIONAL CITY CORPORATION PRINCIPAL BANKING SUBSIDIARIES CHANGE NAME TO "NATIONAL CITY"
CLEVELAND, March 26 /PRNewswire/ -- National City Corporation (NYSE: NCC) today announced that on Monday, March 29, its principal banking subsidiaries in Columbus and Louisville as well as the majority of its member banks will be operating under the "National City" name. National City announced the move to a common identity in February 1992 to strengthen the name association between National City Corporation and its member units and to capitalize on related cost savings. Significant savings will be realized in marketing and purchasing as a result of the common name. For example, the corporation estimates that it will save up to $1 million from standardization of forms as a result of its single identity and consolidating its purchase power. The transition to the common name is running more than one year ahead of schedule, allowing savings to be realized sooner than anticipated. This decision has no effect on National City's commitment to autonomy on lending and deposit practices, local management or boards of directors. National City's two principal banking subsidiaries outside of Cleveland, BancOhio National Bank and First National Bank of Louisville, will be known as National City Bank, Columbus and National City Bank, Kentucky, respectively. Member banks in Dayton (Ohio), Lexington (Kentucky), New Albany (Indiana) and Ashland (Ohio) will begin using the "National City" name on Monday. Community banks throughout Ohio, Kentucky and Indiana will move to the common name over the next 12 months. Member banks in Cleveland, Akron and Indianapolis already operate under the "National City" name. Profile of National City Corporation National City Corporation is a $29 billion diversified financial services company headquartered in Cleveland. National City operates banks and other financial service subsidiaries primarily in Ohio, Kentucky and Indiana. -0- 3/26/93 /CONTACT: Margaret P. Flynn, vice president, National City Communications, 216-575-2440/ (NCC)
CO: National City Corporation ST: Ohio IN: FIN SU:
BM -- CL008 -- 9996 03/26/93 10:20 EST
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|Date:||Mar 26, 1993|
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