NCC trading halted [Update: It has resumed]

Bloomberg:

National City Corp., whose trading was halted in New York after the stock fell as much as 31 percent, said there was ``no unusual depositor or creditor activity'' at the Ohio bank.

The bank also has enough capital, according to a statement today on PR Newswire. The stock dropped $1.22 to $3.20 a share at 11:50 a.m. in New York Stock Exchange composite trading, and fell as low as $3.04. The last time shares of the Cleveland- based bank sold for less was June 1984.

(Source: National City Reports No `Unusual' Activity After Stock Plunges.)

Update: Today's press releases from National City:

1. National City Sets Date for Special Meeting of Stockholders
2. National City Issues Statement in Response to Market Rumors

I'll look at that first one a little closer later on.

Second update, this from the same Bloomberg article:

The company has enough capital and access to cash, according to a statement today from Cleveland-based National City. The stock was down $1.33, or 30 percent, to $3.09 a share at 12:32 p.m. on the New York Stock Exchange after composite trading resumed, and fell as low as $3.04 earlier in the day. The last time the stock sold for less was June 1984.

As of 1:00 p.m. Eastern, the stock price is up to $3.34.