National City bank review

 

National City bank corporation officially joined PNC Financial Services Group, Inc. PNC Business Credit has ranked in the top 5 for the past 5 years for senior secured lending transactions among banks in the United States.

 

The bank helps business organizations to develop secure and effective international finance and banking strategy. National City brings global solutions to it clients and customers.

 

The banking service for business clients of National City bank included:

 

Reducing the payment costs and collection risks of international trade.

 

Foreign receivables, up-to-date payment information.

 

Assistance with pre-export financing, supplier and buyer financing and export-assistance program.

Multiple foreign exchange transactions. Loans, lines of credit and loan syndications in freely traded currencies.

Sends any amounts of money abroad when speed is important.

 

The National city bank also offers a comprehensive solutions for asset management and investments, including shareholder services, industry financial services and public funds.

 

National City has available resources to provide financial solutions for many business companies to succeed.

 

Available 24 hours a day, seven days a week, bank's revolving lines of credit offer its clients the convenience of committed credit that they may borrow, repay, then borrow again.

 

National City Commercial Real Estate also can provide the capital services to build and finance projects. The bank offers financial products and services required to operate business efficiently.

 

Some of financial and banking glossary:

Abandoned Property

Shares of stock, dividends, and other cash payments that are issued or paid by a company and remains unclaimed by the owner over a specified period of time, usually a few years. The unclaimed asset is held by the issuer or its agent until it is either claimed by the owner returned to the issuing company, or delivered to the state of the owner’s last known address according to the applicable abandoned property laws (escheatment).

Acquisition

Gaining control of a company through a purchase or exchange of a majority interest in the acquired company’s stock.

Administrator

An individual appointed by a probate court to settle the estate of a person who died. They have the same duties as an executor.

Affidavit

A statement written and sworn to in the presence of a person authorized to administer an oath, e.g. a notary public.

Affidavit of Domicile or Residence

An affidavit that is used to verify the legal residence of a deceased person. The form is required when a deceased shareholder was residing in a state that is not the same as the address maintained on the account. The affidavit serves as verification that no liens exist in the home state of the decedent.

Affidavit of Loss

An affidavit that is completed by a shareholder to declare and verify the circumstances regarding a lost or missing security. National City provides the affidavit when the shareholder notifies us that a certificate is lost or destroyed.

Affidavit of Non-Receipt

An affidavit that is completed by a shareholder to declare and verify the circumstances regarding non-receipt of security that was sent by National City to the shareholder.

Age of Majority

The age of majority is the age when a minor is legally considered an adult. The age of majority differs from state to state.

Agent

An individual or firm authorized to act on the behalf of another in transactions involving a third party. Entities that act in an agent’s capacity include Transfer Agent, Dividend Disbursing Agent, brokers and depositories.

American Stock Exchange (AMEX)

The second-largest stock exchange in the U.S. (the NYSE is the largest). Generally, the listing rules are not as strict as those of the NYSE. Therefore, the AMEX has a greater representation of stocks and bonds issued by smaller companies. AMEX originated when brokers began meeting at the curb outside the NYSE in order to trade stocks that did not meet the NYSE listing requirements. In 1998 the parent company of the NASDAQ purchased the AMEX and combined their respective markets. However, the two exchanges continue to operate separately.

Annual Meeting

A meeting organized and convened by a company, typically held at the end of a company’s fiscal year, for shareholders to elect directors and address other business concerns. The company’s performance and future outlook are often discussed at the annual meeting.

Annual Report

An audited document that is required by the SEC. The annual report is sent to a public company’s shareholders at the end of each fiscal year and reports the financial results of the company. Annual reports often provide a future outlook of the company’s operations.

Assignment

A document used to transfer ownership of a security from one person to another. Often referred to as a stock power assignment.

Attorney-in-Fact

An individual who has power of attorney, and therefore has the authority to transact business on the behalf of a shareholder.

Authorized Shares

The maximum number of shares of any class of stock that a company may issue. The number of authorized shares is established under the terms of a company’s articles of incorporation.

B Notice

A notice sent by the IRS identifying shareholders that have a Social Security Number or Taxpayer Identification Number that does not match the records of the transfer agent. IRS regulations require the transfer agent to send the shareholder a W-9 Form and a letter of explanation regarding the mismatch. If the shareholder does not return the W-9 Form within 30 days, the transfer agent is required to begin withholding tax.

Backup Withholding

A percentage of dividend payments and sale proceeds that is withheld from any shareholder that fails to comply with specific IRS regulations regarding acceptable certification of the shareholder’s taxpayer identification number. An IRS Form W-9 must be on file with National City for each account that is established. The withholding will take place at the time of any general distribution.

Ballot

A document used by shareholders to vote shares in person at shareholder meetings.

Beneficial Owner

The entity that receives the benefits of ownership of a security, regardless of the registration of the security. Securities are often registered in a name other than that of the beneficial owner for the convenience of transfer or for safety reasons.

Beneficiary

An entity, such as an individual, institution, trustee, or estate, that receives or may become eligible to receive benefits under a will, retirement plan, trust or other contract.

Board of Directors

The individuals elected by the shareholders of a corporation to oversee the management of the corporation. The Board is empowered to carry out certain tasks as spelled out in the corporation’s charter.

Bond of Indemnity

A document that enables a shareholder to transfer ownership of stock without presenting certificate. A bond of indemnity is issued when the original certificate is lost, stolen, or destroyed.

Book-Entry

A medium where a security is issued as an entry in an account rather than in the form of a physical certificate. Shares held in book-entry have all the traditional rights and privileges as shares held in certificate form.

Broker/Dealer

Any individual of firm that is in the business of buying and selling securities for itself and others. Brokers/dealers must register with the SEC as well as with the states in which they conduct business. Brokers execute trades on the behalf of clients. Dealers execute trades on behalf of their own firms for further sale to clients or other firms.

 

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