The New National City: Fool by Numbers

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On April 30, Cleveland-based National City Corp. (NYSE: NCC) released earnings for the first quarter ended March 31. Here are the quick and dirty details.

• Total revenue fell 10% to $1.6 billion as National City focuses on core banking and recently sold its non-prime First Franklin business.
• Net interest income fell 5.6% as the net interest margin decreased slightly to 3.69%.
• Diluted earnings fell nearly 31% on continuing First Franklin charges and other subprime and housing challenges.    
• National City carries a lowly one-star rating in Motley Fool CAPS, as does cross-town rival KeyCorp (NYSE: KEY) and regional peers Fifth Third Bancorp (Nasdaq: FITB) and Comerica (NYSE: CMA).  Investors may do better banking on larger rivals such as US Bancorp (NYSE: USB) at four stars and JPMorgan Chase (NYSE: JPM) at three stars. 

(Figures in millions, except per-share data)

Income Statement Highlights

	Q1 2007	Q1 2006	Change
Total Revenue	$1,632	$1,813	(10.0%)
Net Interest Income	$1,118	$1,184	(5.6%)
Net Profit	$319	$459	(30.5%)
EPS	$0.50	$0.74	(32.4%)

Get back to basics with a look at the income statement.

Ratio Checkup

	Q1 2007	Q1 2006	Change*
Net Interest Margin	3.69%	3.81%	(0.12%)
Efficiency Ratio	67.37%	62.45%	4.92%
Nonperforming Assets / Assets	0.58%	0.46%	0.12%
Return on Average Assets	0.94%	1.33%	(0.39%)
Return on Average Equity	8.98%	14.91%	(5.93%)

*Expressed in percentage points

Find out more about bank ratios.

Balance Sheet Highlights

Assets	Q1 2007	Q1 2006	Change
Investments	$7,208	$7,609	(5.3%)
Loans	$110,259	$114,048	(3.3%)

Liabilities	Q1 2007	Q1 2006	Change
Core Deposits	$77,884	$69,884	11.4%

Learn about bank assets and bank liabilities.

Related Foolishness:

• Is It Time to Buy Subprime?
• Calculating Return on Assets
• A Closer Look At Bank Stocks
• National City Primed for Growth?

US Bancorp and JPMorgan are Income Investor recommendations. Analyst James Early and other investors like you can show you how to find stocks that pay big dividends with a free trial to Income Investor.

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.