The combined company had assets of $74.4 billion, deposits of $48.4 billion and stockholders' equity of $6.1 billion. 1997: National City purchases certain assets of the mortgage loan origination businesses owned by First National Mortgage Corporation and Eastern Mortgage Services, Inc, and American Mortgage Source, Inc. 1998: National City acquires Fort Wayne National Corporation with assets of $3.3 billion. 1999: National City closes on acquisition of First Franklin Financial Companies. 2004: National City completes $2.1 billion purchase of Cincinnati-based Provident Financial Group. 2004: National City acquired Wayne Bancorp, a bank holding company headquartered in Wooster, Ohio, which operated 26 branches and had $825 million in assets. Also acquired Allegiant Bancorp to enter the St. Louis market, adding 36 branch locations to National City's network of 1,100 retail offices located throughout the Midwest. 2006: National City sold First Franklin group to Merrill Lynch for $1.3 billion. 2006: National City acquires Fidelity Bankshares. Headquartered in West Palm Beach, Fidelity had $4.2 billion in total assets and operated 52 branches. 2006: National City acquires Harbor Florida Bancshares, the holding company for Harbor Federal Savings Bank. Harbor Florida is the fifth-largest publicly traded banking institution based in Florida. Headquartered in Fort Pierce, Harbor Florida has total assets of $3.2 billion and 40 branches. 2007: National City acquires MAF Bancorp, Inc., the holding company for MidAmerica Bank, which operated 82 branches throughout Chicago and Milwaukee and surrounding areas. MidAmerica was the 11th largest banking institution in the Chicago market with $5.7 billion in deposits and 58 branches and the fifth largest in Milwaukee with $1.3 billion in deposits and 24 branches. 2007: Peter Raskind succeeds David A. Daberko as President and CEO of the company, after Daberko was criticized for his expansion into subprime mortgages, bank acquisitions and share buybacks. Merger with PNC and last actions as independent bank 2007: National City announces that their Wholesale Mortgage Division will cease operations effective December 31, 2007, in the face of record foreclosures. Employees were notified via email and conference call from Buck Bibb, head of National City Mortgage. 2008: National City Corp. disclosed in a regulatory filing that it is the subject of an "informal" Securities and Exchange Commission investigation related to matters including loan underwriting, bank regulatory matters, and the sale of a subprime subsidiary, First Franklin Financial Corporation, to Merrill Lynch for $1.3 Billion in 2006. 2008: On October 24, 2008 PNC Bank announced