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105-463: The original Illinois National Bank was established in 1886 in Springfield, Illinois. In 1989, the bank was sold to First of America Bank and assumed that name on February 1, 1990. In 1997, First of America was sold to National City Bank , which was in turn sold to PNC Bank in 2008. In 1999, a group of Springfield investors and former employees of the first Illinois National Bank came together to form

210-661: A bridge connecting the two communities. Ohio City remained an independent municipality until its annexation by Cleveland in 1854. A center of abolitionist activity, Cleveland (code-named "Station Hope") was a major stop on the Underground Railroad for escaped African American slaves en route to Canada. The city also served as an important center for the Union during the American Civil War . Decades later, in July 1894,

315-505: A center of finance and business. Cleveland's economic growth and industrial jobs attracted large waves of immigrants from Southern and Eastern Europe as well as Ireland . Urban growth was accompanied by significant strikes and labor unrest, as workers demanded better wages and working conditions . Between 1881 and 1886, 70 to 80% of strikes were successful in improving labor conditions in Cleveland. The Cleveland Streetcar Strike of 1899

420-739: A downtown Heinen's supermarket. Cleveland's historic ecclesiastical architecture includes the Presbyterian Old Stone Church in downtown Cleveland, the onion domed St. Theodosius Russian Orthodox Cathedral in Tremont , and the Catholic Cathedral of St. John the Evangelist along with myriad other ethnically inspired Roman Catholic churches. The Cleveland City Planning Commission has officially designated 34 neighborhoods in Cleveland. Centered on Public Square, Downtown Cleveland

525-562: A gradual economic recovery under Mayor George V. Voinovich in the 1980s. Downtown saw the construction of the Key Tower and 200 Public Square skyscrapers, as well as the development of the Gateway Sports and Entertainment Complex – consisting of Progressive Field and Rocket Mortgage FieldHouse – and North Coast Harbor, including the Rock and Roll Hall of Fame , Cleveland Browns Stadium , and

630-613: A high school diploma or equivalent. The median age was 36.6 years. As of 2020 , the racial and ethnic composition of the city was 47.5% African American, 32.1% non-Hispanic white , 13.1% Hispanic or Latino , 2.8% Asian , 0% Pacific Islander , 0.2% Native American, and 3.8% from two or more races . 85.3% of Clevelanders age five and older spoke only English at home, while 14.7% spoke a language other than English, including Spanish , Arabic , Chinese , Hungarian , Albanian , and various Slavic languages ( Russian , Polish , Serbian , Croatian , and Slovene ). The city's spoken accent

735-798: A homogeneous settlement of New England Protestants , it evolved into a city with a diverse religious composition. The predominant faith among Clevelanders today is Christianity ( Catholic , Protestant, and Eastern and Oriental Orthodox ), with Jewish, Muslim , Hindu , and Buddhist minorities. Within Cleveland, the neighborhoods with the highest foreign-born populations are Asiatown/Goodrich–Kirtland Park (32.7%), Clark–Fulton (26.7%), West Boulevard (18.5%), Brooklyn Centre (17.3%), Downtown (17.2%), University Circle (15.9%, with 20% in Little Italy), and Jefferson (14.3%). Recent waves of immigration have brought new groups to Cleveland, including Ethiopians and South Asians , as well as immigrants from Russia and

840-619: A naturalization ceremony of new immigrants. Cleveland's location on the Cuyahoga River and Lake Erie has been key to its growth as a major commercial center. Steel and many other manufactured goods emerged as leading industries. The city has since diversified its economy in addition to its manufacturing sector. Established in 1914, the Federal Reserve Bank of Cleveland is one of 12 U.S. Federal Reserve Banks . Its downtown building, located on East 6th Street and Superior Avenue ,

945-501: A presence in the St. Louis, Missouri , market. In 2006, they acquired Fidelity Bankshares Inc. for an estimated $ 1 billion deal that was half cash, half stock. The bank also acquired Harbor Florida Bancshares Inc. through a $ 1.1 billion stock deal, with both acquired banks located in Florida; these acquisitions gave National City $ 7.4 billion of assets and 94 branches in Florida. On the other side of

1050-544: A purchase agreement for National City. The acquisition was a stock purchase transaction to be completed before the end of 2008. National City would be merged into PNC, and the National City brand would be dissolved. The deal was approved by shareholders of both banks on December 23, 2008, and the acquisition was completed on December 31. The deal made PNC the largest bank in Pennsylvania , Ohio , and Kentucky , as well as

1155-554: A residential street. In the late 1880s, writer Bayard Taylor described it as "the most beautiful street in the world". Known as Cleveland's "Crystal Palace", the five-story Cleveland Arcade (sometimes called the Old Arcade) was built in 1890 and renovated in 2001 as a Hyatt Regency Hotel. Another major architectural landmark, the Cleveland Trust Company Building , was completed in 1907 and renovated in 2015 as

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1260-528: A strong presence in Kentucky plus a token presence in southern Indiana. In February 1993, First Kentucky National Corp., a wholly owned subsidiary of National City Corp., was renamed National City Bank Kentucky. In January 1995, National City Corp. announced that it was acquiring the Lexington –based United Bancorp of Kentucky Inc. for $ 63 million in stock. In October 1991, National City Corp. announced that it

1365-763: A total of 13 times beginning in 1868. It was the river fire of June 1969 that spurred the city to action under Mayor Carl B. Stokes, and played a key role in the passage of the Clean Water Act in 1972 and the National Environmental Policy Act later that year. Since that time, the Cuyahoga has been extensively cleaned up through the efforts of the city and the Ohio Environmental Protection Agency (OEPA). In addition to continued efforts to improve freshwater and air quality, Cleveland

1470-559: A veteran of the American Revolutionary War . Cleaveland oversaw the New England –style design of the plan for what would become the modern downtown area, centered on Public Square , before returning to Connecticut, never again to visit Ohio. The town's name was often shortened to "Cleveland", even by Cleaveland's original surveyors. A common myth emerged that the spelling was altered by The Cleveland Advertiser in order to fit

1575-516: Is 569 feet (173 m) above sea level ; however, the city lies on a series of irregular bluffs lying roughly parallel to the lake. In Cleveland these bluffs are cut principally by the Cuyahoga River , Big Creek, and Euclid Creek . The land rises quickly from the lake shore elevation of 569 feet. Public Square, less than one mile (1.6 km) inland, sits at an elevation of 650 feet (198 m), and Hopkins Airport, 5 miles (8 km) inland from

1680-1065: Is a stub . You can help Misplaced Pages by expanding it . National City Corp. National City Corporation was a regional bank holding company based in Cleveland, Ohio , founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National City Mortgage is credited for doing the first mortgage in America. The company operated through an extensive banking network primarily in Ohio , Illinois , Indiana , Kentucky , Michigan , Missouri , Pennsylvania , Florida , and Wisconsin , and also served customers in selected markets nationally. Its core businesses included commercial and retail banking, mortgage financing and servicing, consumer finance, and asset management. The bank reached out to customers primarily through mass advertising and offered comprehensive banking services online. In its last years,

1785-970: Is an advanced form of Inland Northern American English , similar to other Great Lakes cities, but distinctive from the rest of Ohio. In the 19th and early 20th centuries, Cleveland saw a massive influx of immigrants from Ireland, Italy , and the Austro-Hungarian , German , Russian , and Ottoman empires, most of whom were attracted by manufacturing jobs. As a result, Cleveland and Cuyahoga County today have substantial communities of Irish (especially in West Park), Italians (especially in Little Italy), Germans , and several Central -Eastern European ethnicities, including Czechs , Hungarians , Lithuanians , Poles , Romanians , Russians , Rusyns , Slovaks , Ukrainians , and ex- Yugoslav groups, such as Slovenes , Croats and Serbs . The presence of Hungarians within Cleveland proper was, at one time, so great that

1890-745: Is home to several major cultural institutions, including the Cleveland Museum of Art , the Cleveland Museum of Natural History , the Cleveland Orchestra , the Cleveland Public Library , Playhouse Square , and the Rock and Roll Hall of Fame , as well as Case Western Reserve University . Known as " The Forest City " among many other nicknames , Cleveland serves as the center of the Cleveland Metroparks nature reserve system. The city's major league professional sports teams include

1995-544: Is now exploring renewable energy. The city's two main electrical utilities are FirstEnergy and Cleveland Public Power . Its climate action plan , updated in December 2018, has a 2050 target of 100% renewable power , along with reduction of greenhouse gases to 80% below the 2010 level. In recent decades, Cleveland has been working to address the issue of harmful algal blooms on Lake Erie, fed primarily by agricultural runoff, which have presented new environmental challenges for

2100-825: Is the city's central business district, encompassing a wide range of subdistricts, such as the Nine-Twelve District , the Campus District , the Civic Center , East 4th Street , and Playhouse Square . It also historically included the lively Short Vincent entertainment district. Mixed-use areas, such as the Warehouse District and the Superior Arts District , are occupied by industrial and office buildings as well as restaurants, cafes, and bars. The number of condominiums , lofts , and apartments has been on

2205-467: Is the most populous city on Lake Erie, the second-most populous city in Ohio, and the 54th-most populous city in the U.S. with a population of 372,624 in 2020. The city anchors the Cleveland metropolitan area , the 33rd-largest in the U.S. at 2.18 million residents, as well as the larger Cleveland– Akron – Canton combined statistical area with 3.63 million residents. Cleveland was founded in 1796 near

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2310-424: Is the warmest month with a mean temperature of 74.5 °F (23.6 °C), and January, with a mean temperature of 29.1 °F (−1.6 °C), is the coldest. Normal yearly precipitation based on the 30-year average from 1991 to 2020 is 41.03 inches (1,042 mm). The least precipitation occurs on the western side and directly along the lake, and the most occurs in the eastern suburbs. Parts of Geauga County to

2415-449: The Cfa humid subtropical climate . Summers are hot and humid, while winters are cold and snowy. East of the mouth of the Cuyahoga, the land elevation rises rapidly in the south. Together with the prevailing winds off Lake Erie, this feature is the principal contributor to the lake-effect snow that is typical in Cleveland (especially on the city's East Side) from mid-November until the surface of

2520-647: The Clarendon Hills –based MAF Bancorp, with offices in Chicago and Milwaukee, for $ 1.9 billion in stock. The acquisition was completed in September 2007. National City went on an acquisition spree from 2004 through 2008, headed by its $ 2.1 billion purchase of Cincinnati–based Provident Financial Group. Provident Financial Group's banking arm, Provident Bank, specialized in warehouse lending facilities whereby it extended commercial credit lines to mortgage banking firms so that

2625-653: The Cleveland Browns ( football ; NFL ), the Cleveland Cavaliers (basketball; NBA ), and the Cleveland Guardians (baseball; MLB ). Cleveland was established on July 22, 1796, by surveyors of the Connecticut Land Company when they laid out Connecticut 's Western Reserve into townships and a capital city. They named the settlement "Cleaveland" after their leader, General Moses Cleaveland ,

2730-552: The Glenn Research Center in Cleveland. Jones Day , one of the largest law firms in the U.S., was founded in Cleveland in 1893. Healthcare plays a major role in Cleveland's economy. The city's "Big Three" hospital systems are the Cleveland Clinic , University Hospitals , and MetroHealth . The Cleveland Clinic is the largest private employer in the state of Ohio, with a workforce of over 55,000 as of 2022 . It carries

2835-669: The Great Lakes connected Cleveland to the Atlantic Ocean via the Erie Canal and Hudson River, and later via the Saint Lawrence Seaway . The town's growth continued with added railroad links . In 1836, Cleveland, then only on the eastern banks of the Cuyahoga, was officially incorporated as a city, and John W. Willey was elected its first mayor. That same year, it nearly erupted into open warfare with neighboring Ohio City over

2940-662: The Great Lakes Science Center . Although the city emerged from default in 1987, it later suffered from the impact of the subprime mortgage crisis and the Great Recession . Nevertheless, by the turn of the 21st century, Cleveland succeeded in developing a more diversified economy and gained a national reputation as a center for healthcare and the arts. The city's downtown and several neighborhoods have experienced significant population growth since 2010, while overall population decline has slowed. Challenges remain for

3045-532: The St. Louis metropolitan area and Tampa and Miami, Florida. In 2019, the bank changed its formal name to INB, National Association – shortened to INB, N.A. or INB for most purposes. INB offers traditional banking products such as checking and savings accounts , mortgage and other loan services, and certificates of deposit ; also retirement products like Individual Retirement Accounts (IRA), remittance processing services , and tax preparation services. This bank and insurance -related article

3150-654: The former USSR , Southeast Europe (especially Albania ), the Middle East, East Asia, and Latin America. In the 2010s, the immigrant population of Cleveland and Cuyahoga County began to see significant growth, becoming a major center for immigration in the Great Lakes region. A 2019 study found Cleveland to be the city with the shortest average processing time in the nation for immigrants to become U.S. citizens . The city's annual One World Day in Rockefeller Park includes

3255-541: The populist Mayor Tom L. Johnson , who was responsible for the development of the Cleveland Mall Plan . The era of the City Beautiful movement in Cleveland architecture saw wealthy patrons support the establishment of the city's major cultural institutions. The most prominent among them were the Cleveland Museum of Art , which opened in 1916, and the Cleveland Orchestra , established in 1918. In addition to

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3360-405: The 1960s, Cleveland's economy began to slow down, and residents increasingly sought new housing in the suburbs, reflecting the national trends of suburban growth following federally subsidized highways. Industrial restructuring , particularly in the steel and automotive industries, resulted in the loss of numerous jobs in Cleveland and the region, and the city suffered economically. The burning of

3465-452: The 20th century, a period that saw the development of the city's cultural institutions. By the 1960s, Cleveland's economy began to slow down as manufacturing declined and suburbanization occurred. Cleveland is a port city , connected to the Atlantic Ocean via the Saint Lawrence Seaway . Its economy relies on diverse sectors that include higher education, manufacturing, financial services, healthcare, and biomedicals. The city serves as

3570-617: The Cleveland Transit System, the predecessor to the Greater Cleveland Regional Transit Authority . After the war, Cleveland initially experienced an economic boom , and businesses declared the city to be the "best location in the nation". In 1949, the city was named an All-America City for the first time, and in 1950, its population reached 914,808. In sports, the Indians won the 1948 World Series ,

3675-756: The Cleveland–based Bank of Cleveland for an undisclosed amount. The acquisition was completed in January 1976. In December 1975, National City Corp. announced that it was acquiring the Elyria –based First National Bank of Elyria for $ 4.6 million in cash. The acquisition was completed in August 1976. In April 1977, National City Corp. announced that it was acquiring the Dayton –based First National Bank of Dayton for $ 40 million. In July 1979, National City Corp. announced that it

3780-691: The Cuyahoga River in June 1969 brought national attention to the issue of industrial pollution in Cleveland and served as a catalyst for the American environmental movement . Housing discrimination and redlining against African Americans led to racial unrest in Cleveland and numerous other Northern U.S. cities. In Cleveland, the Hough riots erupted from July 18 to 24, 1966, and the Glenville Shootout took place on July 23, 1968. In November 1967, Cleveland became

3885-615: The East and West Sides, while Broadway–Slavic Village is sometimes referred to as the South Side. Several neighborhoods have begun to attract the return of the middle class that left the city for the suburbs in the 1960s and 1970s. These neighborhoods are on both the West Side (Ohio City, Tremont, Detroit–Shoreway, and Edgewater) and the East Side (Collinwood, Hough, Fairfax, and Little Italy). Much of

3990-690: The South. Between 1910 and 1970, the black population of Cleveland, largely concentrated on the city's East Side, increased significantly as a result of the First and Second Great Migrations . Cleveland's Latino community consists primarily of Puerto Ricans , as well as smaller numbers of immigrants from Mexico, Cuba , the Dominican Republic , South and Central America, and Spain. The city's Asian community, centered on historical Asiatown, consists of Chinese , Koreans , Vietnamese , and other groups. Additionally,

4095-483: The U.S. Treasury. At the time of the acquisition, National City had been the 7th largest bank in the United States, two spots ahead of acquirer PNC. The deal was finalized on December 31, 2008, and the National City name was retired on June 14, 2010. The Wall Street Journal reported on June 6, 2008, that National City Corp. had entered into a memorandum of understanding with federal regulators, effectively putting

4200-772: The bank on probation . Terms of the confidential agreement, entered into a month earlier with the Office of the Comptroller of the Currency (which regulates nationally chartered banks), were not known. On June 10, 2008, National City Corp. confirmed that it had reached agreements with regulators "regarding capital levels, risk-management practices and other aspects of its business ." The company stated that there had been no material developments in these areas since these memorandums of understanding were signed in April and May 2008. National City Bank

4305-433: The branches being sold off were retained, there were still heavy layoffs at National City's headquarters in Cleveland. PNC originally stated that 5,800 employees would be laid off corporate-wide across the new organization. In actuality, over 15,000 employees were laid off, all of them from the previous National City, with PNC losing customer and deposit market share in the Cleveland area as a result. National City Bank had been

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4410-563: The broader strike wave that swept the U.S. that year. Cleveland's population continued to grow throughout the Roaring Twenties . The decade saw the establishment of the city's Playhouse Square , and the rise of the risqué Short Vincent . The Bal-Masque balls of the avant-garde Kokoon Arts Club scandalized the city. Jazz came to prominence in Cleveland during this period. Prohibition first took effect in Ohio in May 1919 (although it

4515-435: The city and for northern Ohio. At the 2020 census, there were 372,624 people and 170,549 households in Cleveland. The population density was 4,901.51 inhabitants per square mile (1,892.5/km ). The median household income was $ 30,907 and the per capita income was $ 21,223. 32.7% of the population was living below the poverty line. Of the city's population over the age of 25, 17.5% held a bachelor's degree or higher, and 80.8% had

4620-450: The city and the county have significant communities of Albanians , Arabs (especially Lebanese , Syrians , and Palestinians ), Armenians , French , Greeks , Iranians , Scots , Turks , and West Indians . A 2020 analysis found Cleveland to be the most ethnically and racially diverse major city in Ohio. The influx of immigrants in the 19th and early 20th centuries drastically transformed Cleveland's religious landscape. From

4725-439: The city and the county include Aleris , American Greetings , Applied Industrial Technologies , Eaton , Forest City Realty Trust , Heinen's Fine Foods, Hyster-Yale Materials Handling , Lincoln Electric , Medical Mutual of Ohio , Moen Incorporated , NACCO Industries , Nordson Corporation , OM Group , Swagelok , Kirby Company , Things Remembered , Third Federal S&L , TransDigm Group , and Vitamix . NASA maintains

4830-579: The city ascends into the Heights on the east, where the region known as the " Snow Belt " begins. Extending from the city's East Side and its suburbs, the Snow Belt reaches up the Lake Erie shore as far as Buffalo . The all-time record high in Cleveland of 104 °F (40 °C) was established on June 25, 1988, and the all-time record low of −20 °F (−29 °C) was set on January 19, 1994. On average, July

4935-483: The city boasted the highest concentration of Hungarians in the world outside of Budapest . Cleveland has a long-established Jewish community , historically centered on the East Side neighborhoods of Glenville and Kinsman, but now mostly concentrated in East Side suburbs such as Cleveland Heights and Beachwood , location of the Maltz Museum of Jewish Heritage . The availability of jobs attracted African Americans from

5040-626: The city from Santa Monica, California in the Women's Air Derby . The Van Sweringen brothers commenced construction of the Terminal Tower skyscraper in 1926 and oversaw it to completion in 1927. By the time the building was dedicated as part of Cleveland Union Terminal in 1930, the city had a population of over 900,000. Cleveland was hit hard by the Wall Street Crash of 1929 and the subsequent Great Depression . A center of union activity ,

5145-402: The city saw significant labor struggles in this period, including strikes by workers against Fisher Body in 1936 and against Republic Steel in 1937. The city was also aided by major federal works projects sponsored by President Franklin D. Roosevelt 's New Deal . In commemoration of the centennial of Cleveland's incorporation as a city, the Great Lakes Exposition debuted in June 1936 at

5250-406: The city's North Coast Harbor , along the Lake Erie shore north of downtown. Conceived by Cleveland's business leaders as a way to revitalize the city during the Depression, it drew four million visitors in its first season, and seven million by the end of its second and final season in September 1937. On December 7, 1941, Imperial Japan attacked Pearl Harbor and declared war on the U.S. Two of

5355-418: The city's west side is led by president and CEO Christine Alexander-Rager. Formerly known as City Hospital, it operates one of two Level I trauma centers in the city, and has various locations throughout Greater Cleveland. In 2013, Cleveland's Global Center for Health Innovation opened with 235,000 square feet (21,800 m ) of display space for healthcare companies across the world. To take advantage of

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5460-426: The city, with improvement of city schools, economic development of neighborhoods, and continued efforts to tackle poverty, homelessness , and urban blight being top municipal priorities. According to the U.S. Census Bureau , the city has a total area of 82.47 square miles (213.60 km ), of which 77.70 square miles (201.24 km ) is land and 4.77 square miles (12.35 km ) is water. The shore of Lake Erie

5565-429: The company by third-party mortgage brokers, as well as originating a large number of home equity loans. The amount of residential mortgage loans grew rapidly and came to exceed the level of commercial loans. By 2003, National City was the sixth-largest mortgage lender in the country. The company did sell its First Franklin Financial subsidiary in December 2006, but retained a large volume of loans that had been originated by

5670-487: The company was commonly known in the media by the abbreviated NatCity , with its investment banking arm even bearing the official name NatCity Investments . In 2007, National City Corp. ranked number 188 on the Fortune 500 list, and 9th in terms of revenue in the U.S. commercial banking industry with total assets of about $ 140 billion. PNC Financial Services announced October 24, 2008, its purchase of National City for about $ 5.2 billion in stock with funds from

5775-420: The distinction of being one of the best hospital systems in the world. The clinic is led by Croatian-born president and CEO Tomislav Mihaljevic and it is affiliated with Case Western Reserve University School of Medicine . University Hospitals includes the University Hospitals Cleveland Medical Center and its Rainbow Babies & Children's Hospital . Cliff Megerian serves as that system's CEO. MetroHealth on

5880-416: The east receive over 44 inches (1,100 mm) of liquid precipitation annually. With its extensive cleanup of its Lake Erie shore and the Cuyahoga River, Cleveland has been recognized by national media as an environmental success story and a national leader in environmental protection. Since the city's industrialization, the Cuyahoga River had become so affected by industrial pollution that it "caught fire"

5985-399: The efforts of the settlement's first lawyer Alfred Kelley , the village of Cleveland was incorporated on December 23, 1814. In spite of the nearby swampy lowlands and harsh winters, the town's waterfront location proved to be an advantage, giving it access to Great Lakes trade. It grew rapidly after the 1832 completion of the Ohio and Erie Canal . This key link between the Ohio River and

6090-499: The fifth-largest city in the nation, with a foreign-born population of 30%. At this time, Cleveland saw the rise of radical labor movements, most prominently the Industrial Workers of the World (IWW), in response to the conditions of the largely immigrant and migrant workers. In 1919, the city attracted national attention amid the First Red Scare for the Cleveland May Day Riots , in which local socialist and IWW demonstrators clashed with anti-socialists. The riots occurred during

6195-402: The first major American city since the Great Depression to enter into a financial default on federal loans. The national recession of the early 1980s "further eroded the city's traditional economic base." While unemployment during the period peaked in 1983, Cleveland's rate of 13.8% was higher than the national average due to the closure of several steel production centers. The city began

6300-425: The first major American city to elect an African American mayor, Carl B. Stokes , who served from 1968 to 1971 and played an instrumental role in restoring the Cuyahoga River. During the 1970s, Cleveland became known as "Bomb City U.S.A." due to several bombings that shook the city, mostly due to organized crime rivalries. In December 1978, during the turbulent tenure of Dennis Kucinich as mayor, Cleveland became

6405-421: The golden age in Downtown Cleveland retail, centered on major department stores Higbee's , Bailey's, the May Company , Taylor's , Halle's , and Sterling Lindner Davis , which collectively represented one of the largest and most fashionable shopping districts in the country, often compared to New York's Fifth Avenue . In 1929, Cleveland hosted the first of many National Air Races , and Amelia Earhart flew to

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6510-408: The growth has been spurred on by attracting creative class members, which has facilitated new residential development and the transformation of old industrial buildings into loft spaces for artists. Typical of the Great Lakes region , Cleveland exhibits a continental climate with four distinct seasons, which lies in the humid continental ( Köppen Dfa ) zone. The climate is transitional with

6615-399: The headquarters of the Federal Reserve Bank of Cleveland , as well as several major companies. The GDP for the Greater Cleveland MSA was US$ 138.3 billion in 2022. Combined with the Akron MSA , the eight-county Cleveland–Akron metropolitan economy was $ 176 billion in 2022, the largest in Ohio. Designated as a global city by the Globalization and World Cities Research Network , Cleveland

6720-435: The hockey team, the Barons , became champions of the American Hockey League, and the Browns dominated professional football in the 1950s. As a result, along with track and boxing champions produced, Cleveland was declared the "City of Champions" in sports at this time. Additionally, the 1950s saw the rising popularity of a new music genre that local WJW (AM) disc jockey Alan Freed dubbed " rock and roll ". However, by

6825-644: The increase since 2000 and especially 2010, reflecting downtown's growing population. Clevelanders geographically define themselves in terms of whether they live on the east or west side of the Cuyahoga River. The East Side includes the neighborhoods of Buckeye–Shaker , Buckeye–Woodhill , Central , Collinwood (including Nottingham ), Euclid–Green , Fairfax , Glenville , Goodrich–Kirtland Park (including Asiatown ), Hough , Kinsman , Lee–Miles (including Lee–Harvard and Lee–Seville), Mount Pleasant , St. Clair–Superior , Union–Miles Park , and University Circle (including Little Italy ). The West Side includes

6930-429: The lake freezes, usually in late January or early February. The lake effect causes a relative differential in geographical snowfall totals across the city. On the city's far West Side, the Hopkins neighborhood only reached 100 inches (254 cm) of snowfall in a season three times since record-keeping for snow began in 1893. By contrast, seasonal totals approaching or exceeding 100 inches (254 cm) are not uncommon as

7035-480: The lake, is at an elevation of 791 feet (241 m). Cleveland borders several inner-ring and streetcar suburbs . To the west, it borders Lakewood , Rocky River , and Fairview Park , and to the east, it borders Shaker Heights , Cleveland Heights , South Euclid , and East Cleveland . To the southwest, it borders Linndale , Brooklyn , Parma , and Brook Park . To the south, the city borders Newburgh Heights , Cuyahoga Heights , and Brooklyn Heights and to

7140-432: The large immigrant population, African American migrants from the rural South arrived in Cleveland (among other Northeastern and Midwestern cities) as part of the Great Migration for jobs, constitutional rights, and relief from racial discrimination . By 1920, the year in which the Cleveland Indians won their first World Series championship , Cleveland had grown into a densely-populated metropolis of 796,841, making it

7245-490: The largest bank in the Cleveland market and held the largest deposit share of all of its competitors. After the PNC merger, crosstown rival KeyBank became the largest bank in Cleveland, gaining a significant share of deposits once held by National City; KeyBank would later buy First Niagara and move into PNC's home market of Pittsburgh with the former National City branches PNC had to sell off. The National City name lasted into 2010, since it would take PNC some time to integrate

7350-403: The late 1990s, under former CEO David Daberko, National City began a strategy to increase the yields on its assets. In 1999, the company purchased First Franklin Financial Corp. , a large subprime mortgage lender. Instead of selling the loans, as most mortgage companies do, National City retained many of the loans to enhance its net interest spreads. It also aggressively originated loans brought to

7455-399: The ledger, National City sold to Bank of America its 83% stake in National Processing Company, which earns fees from processing merchant credit card transactions. The sale of San Jose, California , based First Franklin origination franchise and related servicing platform to Merrill Lynch & Co . was completed on December 30, 2006, for $ 1.3 billion. In May 2007, National City announced

7560-474: The mortgage banking firms could make loans to their customers and either keep those loans or sell them in the secondary market to government-sponsored enterprises (GSEs) or other institutional investors . After the acquisition, National City renamed the division National City Warehouse Resources . The warehouse lending division was a profit center and did not contribute to the bank's downfall. In addition, in 2005, National City acquired Allegiant Bancorp to secure

7665-613: The most overlap), Florida, and the Youngstown & Steubenville, Ohio regions. The conversion of National City to PNC was completed in June 2010, in the following phases: Cleveland, Ohio Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County . Located along the southern shore of Lake Erie , it is situated across the Canada–United States maritime border and lies approximately 60 mi (97 km) west of Pennsylvania . Cleveland

7770-519: The mouth of the Cuyahoga River as part of the Connecticut Western Reserve in modern-day Northeast Ohio by General Moses Cleaveland , after whom the city was named. The city's location on the river and the lake shore allowed it to grow into a major commercial and industrial metropolis by the late 19th century, attracting large numbers of immigrants and migrants . It was among the top 10 largest U.S. cities by population for much of

7875-523: The name on the newspaper's masthead . The first permanent European settler in Cleveland was Lorenzo Carter , who built a cabin on the banks of the Cuyahoga River. The emerging community served as an important supply post for the U.S. during the Battle of Lake Erie in the War of 1812 . Locals adopted Commodore Oliver Hazard Perry as a civic hero and erected a monument in his honor decades later. Largely through

7980-452: The neighborhoods of Brooklyn Centre , Clark–Fulton , Cudell , Detroit–Shoreway , Edgewater , Ohio City , Old Brooklyn , Stockyards , Tremont (including Duck Island ), West Boulevard , and the four neighborhoods colloquially known as West Park : Kamm's Corners , Jefferson , Bellaire–Puritas , and Hopkins . The Cuyahoga Valley neighborhood (including the Flats ) is situated between

8085-610: The open Cleveland Mall and share a common neoclassical architecture . They were built in the early 20th century as the result of the 1903 Group Plan. They constitute one of the most complete examples of City Beautiful design in the U.S. Completed in 1927 and dedicated in 1930 as part of the Cleveland Union Terminal complex, the Terminal Tower was the tallest building in North America outside New York City until 1964 and

8190-480: The purchase of MAF Bancorp Inc., the holding company for MidAmerica Bank. As of June 30, 2006, MidAmerica Bank had the 9th-ranked market share in the Chicago metropolitan area (Chicago-Joliet-Naperville) at 2.18%. Following the merger using the same dataset, the combined National City and MidAmerica Banks were expected to rank 4th in the Chicago market with a market share of 3.96% and deposits of more than $ 10 billion. In

8295-446: The real estate market there went into a severe decline. As the subprime mortgage market began going into free fall in mid-2007 and continued into 2008, loan losses mounted. In the third quarter of 2007, the company suffered a net loss of $ 19 million. By the second quarter of 2008, the company had a net loss of $ 1.8 billion. On October 9, 2008, The Wall Street Journal ran an article citing unnamed sources indicating that National City

8400-594: The second generation INB. The new bank opened on June 21, 1999. Beginning with one branch in downtown Springfield, the bank has grown to 13 branches in Central Illinois. INB acquired a remittance processing center in 2000; it is the largest in Illinois outside the Chicago area. Over the years, INB expanded outside the Springfield area by opening branches in Peoria , Bloomington and Champaign. There are loan production offices in

8505-630: The second largest bank in Maryland and Indiana . It greatly expanded PNC's presence in the Midwest , as well as entering PNC into the Florida market. Pittsburgh , Louisville, Kentucky , and Cincinnati were the only three markets before the acquisition in which both banks had a major presence. In the case of Pittsburgh, the two banks had significant overlap, to the point that it would pose antitrust issues in Western Pennsylvania , since both banks had

8610-699: The signs were changed over from National City during that year's Labor Day Weekend . The branches not purchased by First Niagara were the four in Crawford County, Pennsylvania , that PNC was still required to divest: one branch in Titusville was sold to The Farmer's National Bank of Emlenton, with the other three (one in Conneaut Lake , and the other two in Meadville , including the branch inside Walmart ) were sold to Marquette Savings Bank . Although employees at

8715-484: The southeast, it borders Warrensville Heights , Maple Heights , and Garfield Heights . To the northeast, along the shore of Lake Erie, Cleveland borders Bratenahl and Euclid . Cleveland's downtown architecture is diverse. Many of the city's government and civic buildings, including City Hall , the Cuyahoga County Courthouse , the Cleveland Public Library , and Public Auditorium , are clustered around

8820-415: The subsidiary. Management failed to recognize the extent of problems in the subprime market and did not take sufficient aggressive actions to reduce its real estate mortgage portfolio. National City subsequently made several other strategic mistakes, including buying back $ 3 billion of its stock in early 2007, thereby reducing its level of capital, and expanding into the Florida market in late 2006, just before

8925-468: The tallest in the city until 1991. It is a prototypical Beaux-Arts skyscraper. The two other major skyscrapers on Public Square, Key Tower (the tallest building in Ohio) and 200 Public Square, combine elements of Art Deco architecture with postmodern designs. Running east from Public Square through University Circle is Euclid Avenue , which was known as "Millionaires' Row" for its prestige and elegance as

9030-487: The time of their acquisition. This change would allow a unified brand through the company and simplify advertising. In February 1975, National City Corp. announced that it was seeking to acquire the assets of the failed Northern Ohio Bank from the Federal Deposit Insurance Corporation . The acquisition was completed by March 1975. In March 1975, National City Corp. announced that it was acquiring

9135-537: The time, opened its doors to the public at No. 52 Superior Street. National City Corporation was one of the principal players in the Dawes Plan to rebuild Germany in the post World War I period, contributing $ 173,000,000 in loans. Part of which included a $ 30,000,000 insurance on the securities of Allgemeine Elektrizitäts-Gesellschaft (A.E.G.), aka German General Electric, and $ 35,000,000 to American I.G. Chemical (I.G. Farben). In April 1973, National City Corporation

9240-529: The top two market shares in that region. As a result, the United States Department of Justice required PNC to sell off 50 National City branches in the Pittsburgh area and 11 more branches in and around Erie to competitors. On April 7, 2009, PNC reached a deal with Buffalo -based First Niagara Bank to sell 57 of the branches; First Niagara officially took over those branches on September 8, after

9345-405: The two banks together. Despite the branch closures and the sale of others to First Niagara and Emclaire, PNC still ended up with a 46% market share in Pittsburgh, over three times the market share of second-place Citizens Financial Group , with 13%. PNC began to convert the National City branches that were not sold off or closed on November 7, 2009, starting with Pennsylvania (where the two had

9450-415: The victims of the attack were Cleveland natives – Rear Admiral Isaac C. Kidd and ensign William Halloran. The attack signaled America's entry into World War II . A major hub of the " Arsenal of Democracy ", Cleveland under Mayor Frank Lausche contributed massively to the U.S. war effort as the fifth largest manufacturing center in the nation. During his tenure, Lausche also oversaw the establishment of

9555-685: The wartime contributions of those serving the Union from Cleveland and Cuyahoga County would be honored with the Soldiers' and Sailors' Monument on Public Square. The Civil War vaulted Cleveland into the first rank of American manufacturing cities and fueled unprecedented growth. Its prime geographic location as a transportation hub on the Great Lakes played an important role in its development as an industrial and commercial center. In 1870, John D. Rockefeller founded Standard Oil in Cleveland, and in 1885, he moved its headquarters to New York City, which had become

9660-483: Was acquiring the Columbus –based BancOhio Bancorp for $ 310 million in stock and cash. In May 1986, the troubled Cleveland–based Broadview Savings & Loan Company announced that it was selling 18 of its 38 offices to National City for $ 24 million. In June 1989, National City Corp. announced that it was acquiring the insolvent Dayton –based Gem Savings Association without the assistance of federal aid. The acquisition

9765-514: Was acquiring the Fort Pierce –based Harbor Florida Bancshares for $ 1.1 billion in stock. The acquisition was completed in December 2006. In July 2006, National City Corp. announced that it was acquiring the West Palm Beach –based Harbor Fidelity Bankshares for $ 1 billion in stock. The acquisition was completed in January 2007. In May 2007, National City Corp. announced that it was acquiring

9870-576: Was acquiring the Fort Wayne –based Fort Wayne National Corporation for $ 800 million in stock. The acquisition was completed in March 1998. In August 1995, National City Corp. announced that it was acquiring the Pittsburgh –based Integra Financial Corporation for $ 2.1 billion in stock. The acquisition was completed in May 1996 for $ 2.4 billion in stock. In December 1997, National City Corp. announced that it

9975-540: Was acquiring the Indianapolis –based Merchants National Corporation with its lead bank Merchants National Bank and Trust Company of Indianapolis and 14 other banks for $ 604 million in stock. The acquisition was completed in May 1992. In July 1994, National City Corp. announced that it was acquiring the Kokomo –based Central Indiana Bancorp for $ 48 million in stock. In January 1998, National City Corp. announced that it

10080-562: Was acquiring the Kalamazoo –based First of America Bank Corporation, with offices in Michigan, Illinois and Indiana, for $ 7.1 billion in stock. The acquisition was completed in March 1998. In November 2003, National City Corp. announced that it was acquiring the St. Louis –based Allegiant Bancorp for $ 475 million in stock. The acquisition was completed in April 2004 for $ 500 million in stock. In July 2006, National City Corp. announced that it

10185-614: Was acquiring the Norwalk –based Huron County Banking Company for an undisclosed price. The acquisition was completed in May 1979. In September 1981, National City Corp. announced that it was acquiring the Akron –based Goodyear Bank for an undisclosed price. In December 1981, National City Corp. announced that it was acquiring the Toledo –based Ohio Citizens Bancorp for $ 64 million in cash and notes. In March 1984, National City Corp. announced that it

10290-575: Was completed in 1923 by the Cleveland architectural firm Walker and Weeks . The headquarters of the Federal Reserve System's Fourth District, the bank employs 1,000 people and maintains branch offices in Cincinnati and Pittsburgh . Cleveland and Cuyahoga County are home to Fortune 500 companies Cleveland-Cliffs , Progressive , Sherwin-Williams , Parker-Hannifin , KeyCorp , and Travel Centers of America . Other large companies based in

10395-649: Was completed in January 1990. In April 1993, National City Corp. announced that it was acquiring the Youngstown –based Ohio Bancorp for $ 200 million in stock and cash and integrating it into National City Bank, Northeast. The acquisition was completed in October 1993. In February 2004, National City Corp. announced that it was acquiring the Cincinnati –based Provident Financial Group, with its lead bank Provident Bank and offices located in Southwestern Ohio and Northern Kentucky, for $ 2.1 billion in stock. The acquisition

10500-534: Was completed in July 2004. In June 2004, National City Corp. announced that it was acquiring the Wooster –based Wayne Bancorp for $ 180 million in cash. The acquisition was completed in October 2004. In January 1988, National City Corp. announced that it was acquiring the Louisville –based First Kentucky National Corporation for $ 660 million in stock. The acquisition was completed in July 1988 and it gave National City

10605-538: Was formed as the holding company for the National City Bank of Cleveland to allow the company to expand outside of Cuyahoga County through the purchase of other banks. In February 1992, National City announced that all member banks would change over to operate under the National City name within three years. Until this time, all acquired banks had continued to operate under the same name that they were using at

10710-567: Was founded on May 17, 1845, when a group of Cleveland, Ohio businessmen pooled $ 50,000 to organize the City Bank of Cleveland , the first bank opened under the Ohio Bank Act of 1845 in a small town with no gas, electricity, public waterworks, or railroad. Reuben Sheldon and Theodoric C. Severance, formerly of the Fireman's Insurance Company, organized The City Bank of Cleveland. The city's only bank at

10815-618: Was in talks with several other banks for a possible sale. The article named Pittsburgh -based PNC Financial Services , Toronto -based Scotiabank , and Minneapolis –based U.S. Bancorp (U.S. Bank) as the leading contenders. A spokesperson for National City declined to comment on the report. By taking over National City, Scotiabank would be able to "obtain a larger presence in the U.S. regional banking arena than their Canadian peers ", however Scotiabank CEO Rick Waugh declined after they could not properly value National's mortgage assets. On October 24, 2008, PNC announced that it had finalized

10920-570: Was not well-enforced in Cleveland), became law with the Volstead Act in 1920, and was eventually repealed nationally by Congress in 1933. The ban on alcohol led to the rise of speakeasies throughout the city and organized crime gangs, such as the Mayfield Road Mob , who smuggled bootleg liquor across Lake Erie from Canada into Cleveland. The era of the flapper marked the beginning of

11025-542: Was one of the more violent instances of labor strife in the city during this period. By 1910, Cleveland had become known as the "Sixth City" due to its status at the time as the sixth-largest U.S. city. Its automotive companies included Peerless , Chandler , and Winton , maker of the first car driven across the U.S. Other manufacturing industries in Cleveland included steam cars produced by White and electric cars produced by Baker . The city counted major Progressive Era politicians among its leaders, most prominently

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