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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
December 23, 1998
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Date of Report (Date of earliest event reported)
PNC BANK CORP.
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(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-9718
PENNSYLVANIA 25-1435979
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(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
One PNC Plaza
249 Fifth Avenue
Pittsburgh, Pennsylvania 15222-2707
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(Address of principal executive offices)
(Zip Code)
(412) 762-1553
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(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Developments Regarding Credit Card Business
On December 23, 1998, PNC Bank Corp. ("Corporation") announced a
definitive agreement to sell its credit card business, including PNC
National Bank, Wilmington, Delaware, to MBNA Corporation. The
Corporation will receive a 15 percent premium on outstanding credit
card receivables of approximately $2.9 billion.
The transaction is expected to close in the first quarter of 1999,
subject to regulatory approvals, and is expected to result in the
recognition of a substantial gain.
A copy of the press release issued by the Corporation is attached
hereto as Exhibit 99 and incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
The exhibit listed on the Exhibit Index on page 3 of this Form 8-K is
filed herewith.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
PNC BANK CORP.
(Registrant)
Date: January 5, 1999 By: /s/ Robert L. Haunschild
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Robert L. Haunschild
Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
99 Press release issued by the Corporation on December 23, 1998 with respect
to the announcement of the definitive agreement for MBNA Corporation to
acquire the credit card business of the Corporation, filed herewith.
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