National City Takes $200 Million Charge, Sees Fourth Quarter Earnings Pressure

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National City restated earnings for the last three years as a result of the Securities and Exchange Commission’s enforcing certain technical aspects of its rule fas 133. net income for the first nine months of 2003, previously reported as $1.5 billion, was restated to $1.6 billion, and net income for 2002 was cut by $200 million.

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National City Corp. said Tuesday that its fourth-quarter earnings dropped 58 percent, pulled down by higher loan-loss provisions and restructuring charges. Earnings of $398 million, or 64 cents a share, compared with year-ago earnings of $960 million, or $1.46 a share. Results include a $75 million charge after taxes for severance and other events.

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National City Corp. took a $200 million charge in October and November surrounding its mortgage banking operations, saying its mortgage business "continues to be under stress" in a filing Monday.

At this time, I would like to welcome everyone to the Fourth Quarter 2018 Investor. will exceed $20 million annually, which is approximately $10 million higher than we reported during our Q3.

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National City Sets Aside $700M for Loan Losses, Says Worst May Be Over. National City said Monday it will take a $200 million charge this quarter related to defaults and distressed mortgages. The.