EX-99.1

Exhibit 99.1


		National City Corporation 1900 E. 9^th St. Cleveland, OH 44114-3484

NEWS RELEASE
For Immediate Release


Investor Contact:		Media Contact:
Jennifer Hammarlund		Kristen Baird Adams
216-222-9849		216-222-8202
jennifer.hammarlund@nationalcity.com		kristen.bairdadams@nationalcity.com

NATIONAL CITY REPORTS FIRST QUARTER 2006 EARNINGS

CLEVELAND—April 18, 2006— National City Corporation (NYSE: NCC) today reported first quarter 2006 net income of $459 million, or $.74 per diluted share, compared to $484 million, or $.74 per diluted share for the first quarter of 2005, and $398 million, or $.64 per diluted share for the fourth quarter of 2005.

Chairman’s Comments

Chairman and CEO David A. Daberko commented, “First quarter results were solid across the board. As expected, the contribution from mortgage activities has declined, while core banking results continued to grow both in absolute terms and as a percentage of overall earnings. While direct comparisons between periods are hindered by unusual items and our strategic move to an originate-and-sell model for certain assets, the quarters nonetheless showed favorable underlying trends in revenue and household growth. Credit quality was also a plus, and remains strong.”

Net Interest Income and Margin

Tax-equivalent net interest income was $1.2 billion for the first quarter of 2006, approximately equal to the preceding quarter, and up 2% from the first quarter a year ago. Net interest margin was 3.81% for the first quarter of 2006, up from 3.74% in the fourth quarter of 2005 and 3.78% in the first quarter of last year. The linked-quarter comparison of tax-equivalent net interest income is stable, despite a higher net interest margin, which reflects a

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decrease in earning assets due to the sale or securitization of $1.5 billion of home equity lines of credit and credit card balances during the first quarter of 2006. The year-over-year increase in tax-equivalent net interest income reflects growth in earning assets and a higher net interest margin.

Loans and Deposits

Average portfolio loans were $105 billion for the first quarter of 2006, a 4% increase from a year ago, which reflects growth in commercial loans, particularly in commercial leases, as well as mortgage loans. On a linked-quarter basis, average portfolio loans were down slightly due to the reclassification of home equity lines and loans from portfolio into held for sale pursuant to the implementation of the Corporation’s previously announced originate-and-sell strategy for these assets. Average core deposits, excluding mortgage banking escrow balances, were $64.5 billion, up slightly from the preceding quarter and the first quarter a year ago. Average Consumer & Small Business core deposits were up 5% from a year earlier.

Fees and Other Income

Fees and other income for the first quarter of 2006 were $644 million, down $124 million from the preceding quarter and $141 million from the first quarter a year ago, primarily due to lower gains on sale of mortgage loans and unfavorable net hedging results.

Mortgage loan production and sales revenue was $119 million for the first quarter of 2006, down $65 million compared to the preceding quarter, and $72 million from the first quarter a year ago. The linked-quarter decrease reflects lower gains on sale of mortgage loans, while the year-over-year decrease is primarily due to lower gains on hedging mortgage loans held for sale. Net hedging losses on mortgage servicing rights (MSR), included within loan servicing income, were $(101) million for the first quarter of 2006, versus net MSR hedging gains of $15 million and $70 million in the fourth and first quarter of 2005, respectively.

Deposit and other banking service fees, trust fees, and card-related fees were $323 million in the first quarter of 2006, down seasonally from $333 million in the fourth quarter, but up 13% from $286 million a year ago. Fees and other income for the first quarter of 2006 also included $31 million related to the partial release of a $36 million chargeback guarantee liability associated with a now-terminated credit card processing agreement for a major airline.

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Noninterest Expense

Noninterest expense was $1.1 billion, down $129 million from the immediately preceding quarter and about equal to the first quarter a year ago. On a linked-quarter basis, noninterest expense decreased mainly due to unusual and infrequently occurring expenses incurred in the fourth quarter of 2005, including $56 million of severance and other costs related to the Corporation’s Best In Class initiative and a $30 million contribution to the Corporation’s charitable foundation. In comparison, the first quarter of 2006 included only $4 million of severance and other costs related to the Best In Class initiative, and no comparable charitable contributions. On a year-over-year basis, noninterest expense was relatively unchanged. The first quarter of 2006 contained no significant unusual or infrequently occurring items, while the first quarter of 2005 contained $19 million of acquisition integration costs and a $29 million one-time adjustment related to lease accounting.

Income Taxes

The effective tax rate for the first quarter of 2006 was 31%, down from 34% in the year-earlier period. The lower rate in 2006 reflects higher tax credits, lower state and local taxes, as well as some favorable adjustments to tax reserves.

Credit Quality

The provision for credit losses for the first quarter of 2006 was $27 million, down from $132 million in the preceding quarter and $70 million in the first quarter a year ago. The decrease in the provision reflects a lower required allowance for loan losses due largely to continued improvement in credit quality and lower portfolio levels of certain consumer loans. In addition, the higher provision for credit losses in the fourth quarter of 2005 considered probable losses arising from the large number of consumer bankruptcy filings which occurred in late 2005 associated with a change in bankruptcy laws. First quarter 2006 net charge-offs were $121 million, compared to $138 million in the preceding quarter and $87 million in the first quarter a year ago. First quarter 2006 charge-offs included $24 million of passenger airline lease losses, and $20 million of consumer bankruptcy losses, both reserved for in prior periods. Nonperforming assets were $647 million at March 31, 2006, up from $596 million at December 31, 2005, with substantially all of the net increase due to the reclassification of $51

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million of insured loans in foreclosure to other real estate owned pursuant to recent regulatory guidance. The allowance for loan losses was $1.0 billion, or .98% of portfolio loans, at March 31, 2006 compared to $1.1 billion, or 1.03% of portfolio loans, as of December 31, 2005. Credit quality continues to be good.

Balance Sheet

At March 31, 2006, total assets were $140.2 billion, and stockholders’ equity was $12.6 billion, or 9.0% of total assets. Tangible common equity as a percentage of tangible assets was 6.70% at March 31, 2006, up from 6.57% at December 31, 2005 and 6.65% at March 31, 2005. At March 31, 2006, total deposits were $81.4 billion, including core deposits of $69.9 billion. The Corporation repurchased 7.5 million shares of its common stock during the first quarter of 2006 and has authorization to repurchase another 26 million shares. The Corporation intends to continue share repurchases over the rest of the year, subject to market conditions and applicable regulatory constraints.

In December 2005, the Corporation signed a definitive agreement to purchase privately-held Forbes First Financial Corporation, a bank holding company with approximately $500 million of assets, operating eight branches and three limited service locations in the St. Louis, Missouri market. Completion of this transaction is expected to occur in the second quarter of 2006.

Forward-Looking Statements

This document contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation’s

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ability to effectively execute its business plans; changes in general economic and financial market conditions; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Additional information concerning factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements is available in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2005, and subsequent filings with the United States Securities and Exchange Commission (SEC). Copies of these filings are available at no cost on the SEC’s Web site at www.sec.gov or on the Corporation’s Web site at nationalcity.com. Management may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.

Mr. Daberko, along with Jeffrey D. Kelly, vice chairman and chief financial officer, will host a conference call Tuesday, April 18th at 11:00 a.m. (ET) to discuss the first quarter 2006 results. Interested parties may access the conference call by dialing 1-877-777-1967. The conference call and supplemental materials will also be accessible via the Corporation’s Web site, nationalcity.com/investorrelations. The call will be open to the public in a listen-only mode, with participants encouraged to call in approximately 15 minutes prior to the event. Questions may be submitted by e-mail to investor.relations@nationalcity.com prior to or during the conference.

A replay of the conference call will be available from 2:30 p.m. (ET) on April 18, 2006, until midnight (ET) on April 25, 2006, accessible at nationalcity.com and by telephone at 1-800-475-6701 (international 320-365-3844), passcode 820953 or via the Company’s website.

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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, 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 nationalcity.com.

Unaudited
National City Corporation
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in millions, except per share data)


	2006			2005												2004
	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr

EARNINGS
Tax-equivalent interest income	$	2,153		$	2,113		$	2,034		$	1,865		$	1,751		$	1,727		$	1,601		$	1,387		$	1,338
Interest expense		969			921			827			694			594			509			424			335			325

Tax-equivalent net interest income		1,184			1,192			1,207			1,171			1,157			1,218			1,177			1,052			1,013
Provision for credit losses		27			132			56			26			70			81			98			61			83

Tax-equivalent NII after provision for credit losses		1,157			1,060			1,151			1,145			1,087			1,137			1,079			991			930
Fees and other income		644			768			748			976			785			1,442			1,021			849			1,109
Securities gains (losses), net		12			9			(1	)		5			14			11			3			5			—
Noninterest expense		1,142			1,271			1,158			1,181			1,145			1,247			1,211			1,049			965

Income before taxes and tax-equivalent adjustment		671			566			740			945			741			1,343			892			796			1,074
Income taxes		204			161			254			311			250			376			293			272			357
Tax-equivalent adjustment		8			7			8			9			7			7			8			5			7

Net income	$	459		$	398		$	478		$	625		$	484		$	960		$	591		$	519		$	710

Effective tax rate		30.8	%		28.6	%		34.8	%		33.2	%		34.1	%		28.1	%		33.2	%		34.4	%		33.5	%

PER COMMON SHARE
Net income:
Basic	$	.75		$	.65		$	.75		$	.98		$	.75		$	1.48		$	.88		$	.84		$	1.17
Diluted		.74			.64			.74			.97			.74			1.46			.86			.83			1.16
Dividends paid		.37			.37			.37			.35			.35			.35			.35			.32			.32
Book value		20.69			20.51			20.54			20.42			19.82			19.80			18.98			16.86			16.25
Market value (close)		34.90			33.57			33.44			34.12			33.50			37.55			38.62			35.01			35.58
Average shares:
Basic		611.9			618.2			635.9			636.9			643.0			652.9			663.3			619.1			605.9
Diluted		619.7			625.4			644.7			644.1			652.5			666.3			677.1			625.5			612.6

PERFORMANCE RATIOS
Return on average common equity		14.91	%		12.57	%		14.59	%		19.65	%		15.35	%		29.71	%		19.00	%		20.13	%		29.58	%
Return on average total equity		14.92			12.59			14.61			19.66			15.37			29.72			19.01			20.13			29.58
Return on average assets		1.33			1.10			1.31			1.80			1.42			2.77			1.76			1.80			2.61
Net interest margin		3.81			3.74			3.72			3.76			3.78			4.01			3.97			4.03			4.11
Efficiency ratio		62.50			64.85			59.25			55.03			58.94			46.85			55.11			55.15			45.50

LINE OF BUSINESS (LOB) RESULTS
Net Income:
National City Mortgage	($	69	)	$	20		$	26		$	153		$	85		$	13		$	139		$	17		$	273
National Consumer Finance		125			132			131			154			162			137			171			182			169

Total mortgage businesses		56			152			157			307			247			150			310			199			442

Rest of National City (RONC):
Consumer and Small Business Financial Services		178			162			171			153			140			159			151			148			133
Wholesale Banking		205			193			206			194			183			194			168			165			141
Asset Management		23			14			19			26			21			18			26			64			25
National Processing		—			—			—			—			—			(9	)		17			14			12
Parent and Other		(3	)		(123	)		(75	)		(55	)		(107	)		448			(81	)		(71	)		(43	)

Total RONC		403			246			321			318			237			810			281			320			268

Total Consolidated National City Corporation	$	459		$	398		$	478		$	625		$	484		$	960		$	591		$	519		$	710


LOB Contribution to Diluted Earnings Per Share:
National City Mortgage	($	.11	)	$	.03		$	.04		$	.24		$	.13		$	.01		$	.20		$	.02		$	.45
National Consumer Finance		.20			.21			.20			.24			.25			.20			.25			.29			.28

Total mortgage businesses		.09			.24			.24			.48			.38			.21			.45			.31			.73

Rest of National City (RONC):
Consumer and Small Business Financial Services		.29			.26			.27			.23			.22			.24			.22			.24			.22
Wholesale Banking		.33			.31			.32			.30			.28			.29			.25			.26			.23
Asset Management		.04			.02			.03			.04			.03			.03			.04			.10			.04
National Processing		—			—			—			—			—			(.01	)		.02			.02			.02
Parent and Other		(.01	)		(.19	)		(.12	)		(.08	)		(.17	)		.70			(.12	)		(.10	)		(.08	)

Total RONC		.65			.40			.50			.49			.36			1.25			.41			.52			.43

Total Consolidated National City Corporation	$	.74		$	.64		$	.74		$	.97		$	.74		$	1.46		$	.86		$	.83		$	1.16

Unaudited
National City Corporation
CONSOLIDATED FINANCIAL HIGHLIGHTS (continued)
($ in millions)


	2006			2005												2004
	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr

CREDIT QUALITY STATISTICS
Net charge-offs	$	121		$	138		$	83		$	72		$	87		$	104		$	97		$	63		$	82
Provision for credit losses		27			132			56			26			70			81			98			61			83
Loan loss allowance		1,001			1,094			1,108			1,125			1,179			1,188			1,178			1,028			1,011
Lending-related commitment allowance		79			84			88			100			93			100			127			117			115
Nonperforming assets		647			596			585			572			578			563			628			544			606
Annualized net charge-offs to average portfolio loans		.46	%		.52	%		.30	%		.27	%		.35	%		.41	%		.41	%		.30	%		.42	%
Loan loss allowance to period-end portfolio loans		.98			1.03			1.02			1.05			1.15			1.19			1.21			1.21			1.26
Loan loss allowance to nonperforming portfolio loans		207.14			223.11			230.08			238.64			245.11			256.92			234.48			234.09			200.41
Loan loss allowance (period-end) to annualized net charge-offs		204.29			199.42			336.67			391.50			330.46			290.31			302.46			407.33			305.75
Nonperforming assets to period-end portfolio loans and other nonperforming assets		.63			.56			.54			.53			.56			.56			.64			.64			.76

CAPITAL AND LIQUIDITY RATIOS
Tier 1 capital⁽¹⁾		7.43	%		7.43	%		7.68	%		7.96	%		7.91	%		8.25	%		8.23	%		9.02	%		9.36	%
Total risk-based capital⁽¹⁾		10.36			10.54			10.78			11.20			11.25			11.79			11.86			13.07			13.67
Leverage⁽¹⁾		6.94			6.83			7.03			7.36			7.22			7.31			7.35			7.90			8.19
Period-end equity to assets		9.00			8.86			8.80			9.02			8.97			9.18			9.14			8.82			8.83
Period-end tangible common equity to assets ⁽²⁾		6.70			6.57			6.57			6.75			6.65			6.83			6.71			7.64			7.88
Average equity to assets		8.94			8.78			8.95			9.13			9.23			9.31			9.24			8.94			8.81
Average equity to portfolio loans		11.83			11.79			11.98			12.16			12.62			12.96			12.95			12.50			12.20
Average portfolio loans to deposits		127.05			126.68			127.88			130.12			124.24			118.81			115.64			114.14			120.41
Average portfolio loans to core deposits		155.09			156.15			158.32			154.90			150.92			145.55			141.36			132.88			135.63
Average portfolio loans to earning assets		84.71			83.41			83.59			84.13			82.45			81.54			80.57			79.26			80.09
Average securities to earning assets		6.20			6.00			5.75			6.21			6.67			7.44			7.79			6.01			6.27

AVERAGE BALANCES
Assets	$	139,396		$	142,983		$	144,967		$	139,673		$	138,516		$	138,030		$	133,703		$	116,027		$	109,599
Portfolio loans		105,431			106,433			108,386			104,908			101,283			99,127			95,425			82,942			79,154
Loans held for sale or securitization		8,826			11,172			11,570			10,109			11,502			11,503			11,861			13,910			12,323
Securities (at cost)		7,719			7,657			7,450			7,746			8,195			9,044			9,230			6,290			6,197
Earning assets		124,459			127,608			129,659			124,691			122,847			121,574			118,433			104,646			98,828
Core deposits		67,979			68,160			68,462			67,728			67,109			68,105			67,506			62,420			58,360
Purchased deposits and funding		55,105			58,661			59,567			55,859			54,713			53,030			49,907			40,080			38,253
Total equity		12,468			12,549			12,980			12,752			12,779			12,847			12,359			10,370			9,659

PERIOD-END BALANCES
Assets	$	140,231		$	142,397		$	146,750		$	144,143		$	140,982		$	139,414		$	136,615		$	117,180		$	111,544
Portfolio loans		102,269			106,039			108,910			106,808			102,932			100,271			97,554			84,630			80,001
Loans held for sale or securitization		11,779			9,667			11,942			11,539			11,639			12,430			10,745			12,467			12,478
Securities (at fair value)		7,609			7,875			7,568			7,694			8,085			8,765			9,338			6,159			6,540
Core deposits		69,884			68,408			67,738			67,922			68,336			67,297			67,003			61,851			60,030
Purchased deposits and funding		52,879			56,564			61,839			58,639			55,274			55,282			52,535			41,473			37,343
Total equity		12,623			12,613			12,920			13,002			12,643			12,804			12,492			10,335			9,854


⁽¹⁾		First quarter 2006 regulatory capital ratios are based upon preliminary data

⁽²⁾		Excludes goodwill and other intangible assets