PNC » Topics » National City Acquisition-Summary Purchase Price Allocation

This excerpt taken from the PNC 10-Q filed May 11, 2009.

National City Acquisition—Summary Purchase Price Allocation

 

In billions        

Excess of fair value of adjusted net assets acquired over purchase price – December 31, 2008

   $ (1.3 )

Additional fair value marks on acquired impaired loans – December 31, 2008

     1.2  

Additional mortgage recourse, insurance and legal reserves

     0.3  

Other adjustments, net

     (0.2 )

Excess of fair value of adjusted net assets acquired over purchase price – March 31, 2009

   $ 0.0  

 

Further modifications to the purchase price allocation may occur, resulting in the recognition of goodwill and liabilities in future periods.

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