This excerpt taken from the PNC 10-K filed Mar 2, 2009.
Our regional concentration makes us particularly at risk for economic conditions in our primary retail banking footprint.
Although many of our businesses are national and some are international in scope, our retail banking business is concentrated within our retail branch network footprint (for the past several years, Delaware, Indiana, Kentucky, Maryland, New Jersey, Ohio, Pennsylvania, Virginia and Washington, D.C., and, with our recent acquisition of National City, now including Florida, Illinois, Michigan, Missouri and Wisconsin). Thus, we are particularly vulnerable to adverse changes in economic conditions in these states or the Mid-Atlantic and Midwest regions more generally.
Our business and performance are vulnerable to the impact of continued volatility in debt and equity markets.
As most of our assets and liabilities are financial in nature, we tend to be particularly sensitive to the performance of the