In recent months, National City Bank has bought banks in St. Louis and Cincinnati, spending about $2.6 billion in the process.
But Cleveland-based National City has saved some cash for plans for Chicago, said David Daberko, the bank’s chairman and chief executive. Banks in the area are among those on his shopping list.
“If one of the smaller banks there really wants to be part of National City, we still have the capital to do that,” Daberko said.
National City already has 34 branches in the Chicago area, as well as branches in northwest Indiana, Kankakee and Rockford. About 18 more branches are planned for Chicago and the surrounding suburbs this year.
“Nothing has changed at all there, nor have our 2005 plans,” Daberko said. He said last year that he hopes to increase the number of Chicago-area branches to 100.
Earlier this month, National City announced it was buying Cincinnati-based Provident Financial Group Inc. for $2.1 billion. Late last year , National City agreed to buy Allegiant Bancorp in St. Louis for $475 million. That deal put National City in Missouri, giving it a presence in seven Midwest states.
Auto rates fall: State Farm is lowering automobile insurance rates in Illinois, beginning next month. The average decrease will be about 5.5 percent, said spokesman Joe Johnson.
State Farm Mutual Automobile Insurance Co., based in Downstate Bloomington, is dropping the base rate on comprehensive and collision coverage 1.8 percent. Changes in discounts, such as those awarded for good driving records, will pull rates down further. “Most customers will see some kind of decrease,” Johnson said.
The actual reduction will depend on factors that include a driver’s record, the type of car, and how much it is driven.
Ads at the ATM: LaSalle Bank is trying a new marketing campaign that delivers messages tailored for customers through some of the bank’s teller machines.
The program is under way at some LaSalle branches in Chicago and select suburbs. Using technology developed by Seattle-based CashPoint Corp., customers will see advertising relevant to their demographic on the screen. Coupons also are printed, such as one that offers a $2 credit for making an electronic deposit, a spokeswoman said.
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The ATMs also will recognize when someone uses a competitor’s coupon, and those customers are shown ads touting LaSalle’s products and services.
In addition to Chicago, LaSalle is trying the technology at some of its Standard Federal locations in Michigan.
Sony Visa debuts: Sony Music lovers might be interested in Bank One Corp.’s newest branded Visa card. Bank One has teamed with Sony Corp. of America on a card that earns points that can be cashed in for discounts on Sony products.
The card is the latest Bank One specialty Visa, branded cards that allow users to rack up points that can be redeemed for discounts and other deals. Others include links with Walt Disney Co., Amazon.com and Starbucks.