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 2005 FOURTH QUARTER AND FULL YEAR
RESULTS

CLEVELAND—January 17, 2006— National City Corporation (NYSE: NCC) today reported fourth quarter 2005 net income of $398 million, or $.64 per diluted share, and full year 2005 net income of $2.0 billion, or $3.09 per diluted share. Fourth quarter net income included pretax charges aggregating $115 million, equal to $75 million after-tax or $.12 per diluted share, pertaining to the Corporation’s Best In Class program and other initiatives.

Fourth quarter 2004 net income was $960 million, or $1.46 per diluted share. Full year 2004 net income was $2.8 billion, or $4.31 per diluted share. These results include an after-tax gain of $477 million on the sale of a former subsidiary, National Processing, Inc., net of sale expenses. Exclusive of that gain, fourth quarter 2004 net income would have been $483 million, or $.72 per diluted share, and full year net income would have been $2.3 billion, or $3.57 per diluted share.

Results for both 2005 and 2004 include other unusual or infrequently occurring items as described later in this release.

Chairman’s Comments

Chairman and CEO David A. Daberko commented, “Our 2005 results were positive despite a challenging environment in certain businesses. Loan growth was quite good in commercial, residential real estate and home equity. Net interest margin held up reasonably well, despite narrow loan spreads and a flat yield curve. Our retail bank delivered significant growth in deposit fee income and continued growth in households. As expected, mortgage

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banking earnings fell sharply in 2005 due to cyclically lower volumes and gains on sale of mortgages, as well as lower hedging gains. We believe that we are now at the low point of the mortgage cycle.”

“Consumer charge-offs increased in the fourth quarter as a result of a spike in consumer bankruptcy filings associated with the change in bankruptcy laws in October. Beyond this one-time event, we do not see any adverse trends in consumer charge-offs going forward. Commercial credit quality remains sound.”

Mr. Daberko concluded, “For 2006, we expect continued growth in revenue and lower expenses, aided by our Best In Class initiative which is now fully under way. We also will be open to targeted acquisitions to enhance our presence in certain markets, such as our recently announced plans to acquire Forbes First Financial Corporation, an eight branch bank in St. Louis.”

Fourth Quarter Charges

As noted, fourth quarter 2005 results included pretax charges aggregating $115 million, or $75 million after-tax ($.12 per diluted share), as follows: $56 million ($.06 per share) of severance and other costs associated with Best In Class implementation, a $29 million loss ($.03 per share) on the securitization of indirect auto loans pursuant to the discontinuance of this business, and $30 million ($.03 per share) of contributions expense related to securities donated to the Corporation’s charitable foundation.

In addition, the fourth quarter included other income and expense items as described later in this release.

Net Interest Income and Margin

Tax-equivalent net interest income was $1.2 billion for the fourth quarter of 2005, consistent with the preceding and year earlier periods. Net interest margin was 3.74% compared with 3.72% for the third quarter of 2005 and 4.01% for the fourth quarter of 2004. The lower margin reflects a flatter yield curve, a lower spread on mortgages held for sale, and the effects of narrower commercial and consumer loan spreads.

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For the full year, tax-equivalent net interest income was $4.7 billion, up 6% from 2004. Net interest margin was 3.74% in 2005 versus 4.02% in 2004. Higher levels of earning assets more than offset the effects of a lower net interest margin in 2005.

During the fourth quarter of 2005, the Corporation reclassified the amortization of certain deferred loan origination costs from noninterest income to net interest income which had the effect of reducing reported net interest margin, with no effect on net income. Results for prior periods have been reclassified to conform with the current presentation.

Loans and Deposits

Average portfolio loans for the fourth quarter of 2005 increased 7% compared with the same period in 2004 due to strong commercial, residential real estate and home equity lending. Compared with the third quarter of 2005, average portfolio loans decreased, reflecting the sale or securitization of $3.6 billion of consumer home equity and auto loans during the fourth quarter. Management expects to sell or securitize more of its National Home Equity and First Franklin loan production in future periods.

Average core deposits, excluding mortgage-banking escrow balances, were $64 billion for the fourth quarter, up slightly from the preceding quarter and the fourth quarter of 2004. Retail deposits continued to grow, while corporate balances declined somewhat due to higher interest rates.

Noninterest Income

Fees and other income for the fourth quarter of 2005 were $768 million, compared with $748 million in the third quarter of 2005 and $727 million in the fourth quarter of 2004, excluding the gain on the sale of National Processing described earlier. Mortgage banking revenue increased on both a linked-quarter and year-over-year basis. Net hedging gains on mortgage servicing rights (MSRs) were $15 million and $43 million pretax in the fourth and third quarters of 2005, respectively, versus net hedging losses of $10 million pretax in the fourth quarter of last year.

Deposit service charges for the fourth quarter of 2005 grew 13% compared with the fourth quarter of last year and 2% compared with the preceding quarter, reflecting growth in both the number of accounts and fee-generating transactions. Comparisons of fees and other

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income on both a linked quarter and year-over-year basis are affected by several unusual or nonrecurring items. Fees and other income for the fourth quarter of 2005 included an $18 million gain on the sale of home equity lines and a $29 million loss on the securitization of indirect auto loans. For the fourth quarter of 2004, fees and other income included a $714 million of gain on the sale of National Processing and a $14 million gain on the sale of branches in Michigan’s Upper Peninsula.

For the full year, fees and other income were $3.3 billion in 2005, down from $3.7 billion in 2004, exclusive of the gain on the sale of National Processing. Fees and other income for 2004 contained $409 million of payment processing revenue which was substantially eliminated with the sale of National Processing. Other divestiture activity affecting year-over-year comparisons include a $16 million gain on the sale of Madison Bank & Trust in 2005, versus a $62 million gain on the sale of the Bond Trust Administration business in 2004, and the gain on the sale of Michigan branches described above.

Mortgage banking revenue for 2005 was $1.1 billion compared with $1.2 billion in 2004, inclusive of net MSR pretax hedging gains of $286 million and $388 million, respectively. $88.6 billion of conforming and nonconforming mortgages were originated in 2005, compared to $94.8 billion in the prior year.

Noninterest Expense

Noninterest expense was $1.3 billion for the fourth quarter of 2005, up $113 million from the third quarter of 2005, and $25 million from the year earlier period. The fourth quarter of 2005 included $56 million of severance and other costs related to the Corporation’s Best In Class initiative and a $30 million charitable contribution. The fourth quarter of 2004 contained $17 million of expenses associated with the sale of National Processing and $39 million of acquisition integration expenses.

For the year 2005, noninterest expense was $4.8 billion, compared with $4.5 billion in 2004, including the full year effect of acquisitions completed during 2004, as well as the items described above. In addition, noninterest expense for 2005 included $45 million of acquisition integration costs, a $29 million one-time adjustment for lease accounting, and $19 million of impairment charges on buildings to be sold, partially offset by a $22 million insurance settlement for previously incurred auto lease residual losses. Noninterest expense for 2004

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included $74 million of acquisition integration costs, as well as expenses associated with National Processing, which was sold in October 2004.

Income Tax Expense

The effective tax rate for 2005 was 33% compared with 32% for 2004. The effective tax rate in 2004 reflects a lower rate applied to the gain on the sale of National Processing. In addition, $11 million of net tax benefits were recognized in 2005 ($25 million in the fourth quarter), versus $67 million in 2004 ($44 million in the fourth quarter), based on the regular reassessment of required tax accruals.

Credit Quality

The provision for credit losses for the fourth quarter of 2005 was $132 million compared with $56 million in the preceding quarter and $81 million in the fourth quarter of 2004. The linked quarter and year-over-year increase reflects higher commercial and consumer net charge-offs, as well as a $20 million one-time provision for estimated consumer bankruptcy losses that have not yet been realized. Net charge-offs were $138 million in the fourth quarter of 2005, compared with $83 million and $104 million in the preceding period and the year-earlier periods, respectively.

For the full year, the loan loss provision for 2005 was $284 million, down from $323 million last year, reflecting improvement in commercial credit quality, offset somewhat by a higher level of consumer losses. Net charge-offs were $380 million in 2005 compared with $346 million a year ago. The higher charge-offs in 2005 were due to losses resulting from higher consumer bankruptcies, as noted above.

Nonperforming assets were $596 million at December 31, 2005, up from $563 million at December 31, 2004. The increase in nonperforming loans reflects growth in the loan portfolio and the classification of certain airline related credits to nonperforming status. As a percentage of period-end portfolio loans, nonperforming assets were .56% at both December 31, 2005 and 2004. The allowance for loan losses at December 31, 2005 was $1.1 billion, or 1.03% of portfolio loans compared with $1.2 billion or 1.19% of portfolio loans as of December 31, 2004.

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Balance Sheet

At December 31, 2005, total assets were $142.4 billion, and stockholders’ equity was $12.6 billion or 8.86% of assets. Tangible common equity as a percentage of tangible assets was 6.57%, consistent with the preceding quarter and previously stated targets for this ratio, versus 6.83% a year ago. The decrease in the tangible common equity ratio in 2005 was mainly due to share repurchases.

The Corporation repurchased 14.7 million shares of its common stock during the fourth quarter of 2005, bringing the repurchases for the full year to 43.5 million shares. As of December 31, 2005, the Corporation had authorization to repurchase an additional 33.6 million shares. Management intends to continue repurchases in 2006, subject to market conditions and maintenance of targeted capital ratios.

At December 31, 2005, total deposits were $84.0 billion, including core deposits of $68.4 billion.

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, subject to shareholder and regulatory approvals.

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 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

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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, 2004, 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 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.

Conference Call

Mr. Daberko, along with Jeffrey D. Kelly, vice chairman and chief financial officer, will host a conference call on January 17, 2006 at 11:00 a.m. (ET) to discuss the fourth quarter and full year 2005 results. Interested parties may access the conference call by dialing 800-230-1096. The conference call and supplemental materials will also be accessible via the Corporation’s Web site, nationalcity.com. 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 at 2:30 p.m. (ET) on January 17, 2006, until midnight (ET) on January 24, 2006, accessible by dialing 800-475-6701 (international 320-365-3844), passcode 801537 or via the Company’s website.

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

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and asset management. For more information about National City, visit the company’s Web site at nationalcity.com.

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


	2005												2004												2003			For the Year
	*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*2005*			*2004*			*2003*

EARNINGS
Tax-equivalent interest income	$	2,113		$	2,034		$	1,865		$	1,751		$	1,727		$	1,601		$	1,387		$	1,338		$	1,407		$	7,763		$	6,053		$	5,994
Interest expense		921			827			694			594			509			424			335			325			375			3,036			1,593			1,630

Tax-equivalent net interest income		1,192			1,207			1,171			1,157			1,218			1,177			1,052			1,013			1,032			4,727			4,460			4,364
Provision for credit losses		132			56			26			70			81			98			61			83			148			284			323			638

Tax-equivalent NII after provision for credit losses		1,060			1,151			1,145			1,087			1,137			1,079			991			930			884			4,443			4,137			3,726
Fees and other income		768			748			976			785			1,442			1,021			849			1,109			979			3,277			4,421			3,546
Securities gains (losses), net		9			(1	)		5			14			11			3			5			—			10			27			19			47
Noninterest expense		1,271			1,158			1,181			1,145			1,247			1,211			1,049			965			1,034			4,755			4,472			4,053

Income before taxes and tax-equivalent adjustment		566			740			945			741			1,343			892			796			1,074			839			2,992			4,105			3,266
Income taxes		161			254			311			250			376			293			272			357			288			976			1,298			1,120
Tax-equivalent adjustment		7			8			9			7			7			8			5			7			7			31			27			29

Net income	$	398		$	478		$	625		$	484		$	960		$	591		$	519		$	710		$	544		$	1,985		$	2,780		$	2,117

Effective tax rate		28.6	%		34.8	%		33.2	%		34.1	%		28.1	%		33.2	%		34.4	%		33.5	%		34.6	%		33.0	%		31.8	%		34.6	%
PER COMMON SHARE
Net income:
Basic	$	.65		$	.75		$	.98		$	.75		$	1.48		$	.88		$	.84		$	1.17		$	.89		$	3.13		$	4.37		$	3.46
Diluted		.64			.74			.97			.74			1.46			.86			.83			1.16			.88			3.09			4.31			3.43
Dividends paid		.37			.37			.35			.35			.35			.35			.32			.32			.32			1.44			1.34			1.25
Book value		20.51			20.54			20.42			19.82			19.80			18.98			16.86			16.25			15.39
Market value (close)		33.57			33.44			34.12			33.50			37.55			38.62			35.01			35.58			33.94
Average shares:
Basic		618.2			635.9			636.9			643.0			652.9			663.3			619.1			605.9			607.6			633.4			635.5			611.2
Diluted		625.4			644.7			644.1			652.5			666.3			677.1			625.5			612.6			612.7			641.6			645.5			616.4
PERFORMANCE RATIOS
Return on average common equity		12.57	%		14.59	%		19.65	%		15.35	%		29.71	%		19.00	%		20.13	%		29.58	%		22.99	%		15.54	%		24.56	%		23.60	%
Return on average total equity		12.59			14.61			19.66			15.37			29.72			19.01			20.13			29.58			22.99			15.55			24.57			23.60
Return on average assets		1.10			1.31			1.80			1.42			2.77			1.76			1.80			2.61			1.88			1.40			2.23			1.79
Net interest margin		3.74			3.72			3.76			3.78			4.01			3.97			4.03			4.11			3.99			3.74			4.02			4.08
Efficiency ratio		64.85			59.25			55.03			58.94			46.85			55.11			55.15			45.50			51.42			59.41			50.35			51.24
LINE OF BUSINESS (LOB) RESULTS
Net Income:
National City Mortgage	$	20		$	26		$	153		$	85		$	13		$	139		$	17		$	273		$	263		$	284		$	442		$	939
Rest of National City (RONC):
Consumer and Small Business Financial Services		157			201			182			159			181			177			166			153			143			699			677			615
Wholesale Banking		193			204			191			182			192			166			164			140			81			770			662			329
National Consumer Finance		129			126			146			158			131			166			178			164			91			559			639			419
Asset Management		14			19			26			21			18			26			64			25			23			80			133			93
National Processing		—			—			—			—			(9	)		17			14			12			15			—			34			49
Parent and Other		(115	)		(98	)		(73	)		(121	)		434			(100	)		(84	)		(57	)		(72	)		(407	)		193			(327	)

Total RONC		378			452			472			399			947			452			502			437			281			1,701			2,338			1,178

Total Consolidated National City Corporation	$	398		$	478		$	625		$	484		$	960		$	591		$	519		$	710		$	544		$	1,985		$	2,780		$	2,117

LOB Contribution to Diluted Earnings Per Share:
National City Mortgage	$	.03		$	.04		$	.24		$	.13		$	.01		$	.20		$	.02		$	.45		$	.42		$	.44		$	.68		$	1.52
Rest of National City (RONC):
Consumer and Small Business Financial Services		.26			.31			.28			.24			.27			.26			.27			.25			.23			1.09			1.05			1.00
Wholesale Banking		.30			.32			.30			.28			.29			.25			.26			.23			.13			1.20			1.03			.53
National Consumer Finance		.20			.20			.23			.24			.20			.24			.28			.27			.15			.87			.99			.68
Asset Management		.02			.03			.04			.03			.03			.04			.10			.04			.04			.12			.21			.15
National Processing		—			—			—			—			(.01	)		.02			.02			.02			.03			—			.05			.08
Parent and Other		(.17	)		(.16	)		(.12	)		(.18	)		.67			(.15	)		(.12	)		(.10	)		(.12	)		(.63	)		.30			(.53	)

Total RONC		.61			.70			.73			.61			1.45			.66			.81			.71			.46			2.65			3.63			1.91

Total Consolidated National City Corporation	$	.64		$	.74		$	.97		$	.74		$	1.46		$	.86		$	.83		$	1.16		$	.88		$	3.09		$	4.31		$	3.43

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


	2005												2004												2003			For the Year
	*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*2005*			*2004*			*2003*

CREDIT QUALITY STATISTICS
Net charge-offs	$	138		$	83		$	72		$	87		$	104		$	97		$	63		$	82		$	150		$	380		$	346		$	609
Provision for credit losses		132			56			26			70			81			98			61			83			148			284			323			638
Loan loss allowance		1,094			1,108			1,125			1,179			1,188			1,178			1,028			1,011			1,023
Lending-related commitment allowance		84			88			100			93			100			127			117			115			102
Nonperforming assets		596			585			572			578			563			628			544			606			657
Annualized net charge-offs to average portfolio loans		.52	%		.30	%		.27	%		.35	%		.41	%		.41	%		.30	%		.42	%		.76	%		.36	%		.39	%		.80	%
Loan loss allowance to period-end portfolio loans		1.03			1.02			1.05			1.15			1.19			1.21			1.21			1.26			1.29
Loan loss allowance to nonperforming portfolio loans		223.11			230.08			238.64			245.11			256.92			234.48			234.09			200.41			186.09
Loan loss allowance (period-end) to annualized net charge-offs		199.42			336.67			391.50			330.46			290.31			302.46			407.33			305.75			171.81			287.26			343.81			167.82
Nonperforming assets to period-end portfolio loans and other nonperforming assets		.56			.54			.53			.56			.56			.64			.64			.76			.83
CAPITAL AND LIQUIDITY RATIOS
Tier 1 capital⁽¹⁾		7.44	%		7.68	%		7.96	%		7.91	%		8.25	%		8.23	%		9.02	%		9.36	%		8.79	%
Total risk-based capital⁽¹⁾		10.56			10.78			11.20			11.25			11.79			11.86			13.07			13.67			13.12
Leverage⁽¹⁾		6.83			7.03			7.36			7.22			7.31			7.35			7.90			8.19			7.43
Period-end equity to assets		8.86			8.80			9.02			8.97			9.18			9.14			8.82			8.83			8.18
Period-end tangible common equity to assets ⁽²⁾		6.57			6.57			6.75			6.65			6.83			6.71			7.64			7.88			7.23
Average equity to assets		8.78			8.95			9.13			9.23			9.31			9.24			8.94			8.81			8.19			9.02	%		9.10	%		7.57	%
Average equity to portfolio loans		11.79			11.98			12.16			12.62			12.96			12.95			12.50			12.20			12.04			12.13			12.69			11.83
Average portfolio loans to deposits		126.68			127.88			130.12			124.24			118.81			115.64			114.14			120.41			116.46			127.23			117.18			110.78
Average portfolio loans to core deposits		156.15			158.32			154.90			150.92			145.55			141.36			132.88			135.63			133.32			155.12			139.13			129.18
Average portfolio loans to earning assets		83.41			83.59			84.13			82.45			81.54			80.57			79.26			80.09			75.49			83.40			80.42			70.98
Average securities to earning assets		6.00			5.75			6.21			6.67			7.44			7.79			6.01			6.27			5.99			6.15			6.94			6.42
AVERAGE BALANCES
Assets	$	142,983		$	144,967		$	139,673		$	138,516		$	138,030		$	133,703		$	116,027		$	109,599		$	114,628		$	141,556		$	124,403		$	118,525
Portfolio loans		106,433			108,386			104,908			101,283			99,127			95,425			82,942			79,154			77,963			105,275			89,207			75,871
Loans held for sale or securitization		11,172			11,570			10,109			11,502			11,503			11,861			13,910			12,323			17,680			11,090			12,395			22,837
Securities (at cost)		7,657			7,450			7,746			8,195			9,044			9,230			6,290			6,197			6,187			7,759			7,698			6,864
Earning assets		127,608			129,659			124,691			122,847			121,574			118,433			104,646			98,828			103,280			126,224			110,921			106,898
Core deposits		68,160			68,462			67,728			67,109			68,105			67,506			62,420			58,360			58,479			67,869			64,118			58,733
Purchased deposits and funding		58,661			59,567			55,859			54,713			53,030			49,907			40,080			38,253			43,267			57,217			45,351			47,072
Total equity		12,549			12,980			12,752			12,779			12,847			12,359			10,370			9,659			9,390			12,765			11,316			8,972
PERIOD-END BALANCES
Assets	$	142,397		$	146,750		$	144,143		$	140,982		$	139,414		$	136,615		$	117,180		$	111,544		$	114,102
Portfolio loans		106,039			108,910			106,808			102,932			100,271			97,554			84,630			80,001			79,344
Loans held for sale or securitization		9,667			11,942			11,539			11,639			12,430			10,745			12,467			12,478			15,368
Securities (at fair value)		7,875			7,568			7,694			8,085			8,765			9,338			6,159			6,540			6,525
Core deposits		68,408			67,738			67,922			68,336			67,297			67,003			61,851			60,030			58,922
Purchased deposits and funding		56,564			61,839			58,639			55,274			55,282			52,535			41,473			37,343			41,983
Total equity		12,613			12,920			13,002			12,643			12,804			12,492			10,335			9,854			9,329


⁽¹⁾		Fourth quarter 2005 regulatory capital ratios are based upon preliminary data

⁽²⁾		Excludes goodwill and other intangible assets