CLEVELAND, Jan. 8 /PRNewswire-FirstCall/ -- National City Corporation
(NYSE: NCC) has announced the completion of its acquisition of West Palm
Beach, Florida-based Fidelity Bankshares, Inc., effective Jan. 5, 2007.
Fidelity Bankshares operates Fidelity Federal Bank & Trust, with 52 branch
offices in Palm Beach, Martin, Broward, and St. Lucie counties.
"We're excited to partner with Fidelity Federal. With a shared passion for
doing what's right for our customers and communities, we look forward to
bringing National City's broader menu of products and services and expanded
delivery channels to our new Florida markets," said David A. Daberko, chairman
and chief executive officer of National City. Fidelity Bankshares CEO Vince
Elhilow will remain in his current role, overseeing Fidelity markets for
National City.
With completion of the Fidelity transaction and the close last month of
National City's acquisition of Fort Pierce-based Harbor Florida Bancshares,
National City now has a 94-branch network along Florida's east coast.
Conversion of Harbor and Fidelity business systems to National City's platform
will be completed in March and April, respectively, at which times the
companies will begin offering National City's full suite of products and
services and operating under the National City name.
While these transactions mark National City's first retail banking
presence in Florida, the company has conducted business in the state for many
years, primarily residential and commercial real estate lending, commercial
finance, and personal wealth management.
About National City
National City Corporation (NYSE: NCC), headquartered in Cleveland, Ohio,
is one of the nation's largest financial holding companies. The company
operates through an extensive banking network primarily in Ohio, Florida,
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. For more information about National City, visit
the company's Web site at www.nationalcity.com.
SOURCE National City Corporation
CONTACT: Media Contact, Kristen Baird Adams, +1-216-222-8202, or
kristen.bairdadams@nationalcity.com, or Investor Contact, Jill Hennessey,
+1-216-222-9253, or jill.hennessey@nationalcity.com, both of National City
Corporation
