National City Mortgage Laying Off 74 in Ohio

Miami Township, Ohio’s National City Mortgage in Miami Township is laying off 74 employees, after merging with PNC Financial Services.

The layoffs begin in September and will be complete by year’s end. Those targeted include systems analysts and mortgage operations managers.

The firm says that the merger will lead to a net gain in Miami Township jobs, which is no doubt a comfort to those let go.

Founded in 1845, National City Corporation is based in Cleveland, Ohio. It was once one of the ten largest banks in America, in terms of deposits, mortgages and home equity lines of credit. It is currently in the process of a financial merger with PNC Financial Services. Subsidiary National City Mortgage is credited for doing the first mortgage in America.