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The Cleveland-based bank said in a mid-quarter financiall update that its provision for loan losse s in the fourth quarter couldapproach $700 million. The companu already has set aside $611.5 million in the firsgt three quarters. Executives said the expectee charge-offs, the exact amount for which won't be determined until after the close of the stem from problems withthe run-off portfolio of mortgag lender , which it sold for $1.3 billioh in January. It said for-sale home equity loanes and lines of credit it removed from the secondary market and transferred to its portfolio during the third quarter also deteriorated beyond previous The bank's unit is based in Miamo Township.
National City (NYSE: NCC) closedd the third quarter with year-to-date earnings down 47 perceng at $772 million, or $1.28 a share, compared with $1.46 billion, or $2.36 a share, in the first nine monthse of 2006. Combined interest and non-interestr income totaled $8.83 billion year-to-date, down 2 percent from $9.01 billiomn in the same periodlast year.
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