National City Completes Acquisition of MAF Bancorp, Inc.
September 04 2007 - 8:00AM
PR Newswire (US)
CLEVELAND, Sept. 4 /PRNewswire-FirstCall/ -- National City
Corporation (NYSE:NCC) today announced the completion of its
acquisition of MAF Bancorp (NASDAQ:MAFB), effective September 1,
2007. MAF Bancorp is the holding company for MidAmerica Bank, which
operates 82 branch offices throughout Chicago and Milwaukee and
surrounding areas. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030428/NATIONALCITYLOGO )
"We're excited to partner with MidAmerica. With a shared passion
for doing what's right for our customers and communities, we look
forward to bringing National City's broader mix of products and
services and delivery channels to our expanded Chicagoland network
and new Milwaukee market," said Peter E. Raskind, president and
chief executive officer of National City. "The acquisition of
MidAmerica Bank aligns perfectly with the strategy we have
articulated over the last several years. It accelerates our
expansion in the attractive growth market of Chicago and marks our
retail entry into Milwaukee." With completion of the transaction,
MidAmerica customers will have access to a far more extensive
banking network, including nearly 1,400 branches and 2,200 ATMs in
Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri,
Pennsylvania and Wisconsin. In Chicago and Milwaukee, that includes
123 and 24 branches, respectively, and 191 ATMs. Conversion of
MidAmerica business systems to National City's platform will be
completed in the first quarter of 2008, at which time the company
will begin offering National City's full suite of products and
services and operating under the National City name. 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 http://www.nationalcity.com/.
http://www.newscom.com/cgi-bin/prnh/20030428/NATIONALCITYLOGO
http://photoarchive.ap.org/ DATASOURCE: National City Corporation
CONTACT: Jill Hennessey, +1-216-222-9253, , or Kristen Baird Adams,
+1-216-222-8202, , both of National City Corporation Web site:
http://www.nationalcity.com/
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