Eastern Rust Belt Financial Employment Picture

An update of sorts on the suggestion that NYC financial talent move to Cleveland and be sure to read the comment from a reader. Dow Jones Newswires has the latest on regional banking:

PNC Financial Services Group Inc. (PNC), a clear winner of the financial crisis, reported a wider quarterly profit but said it is seeing "tepid" loan demand from borrowers. The Pittsburgh-based lender, which is one of the biggest U.S. regional banks, earned $1.1 billion, or $2.07 a share, in the quarter, up from $559 million a year earlier. PNC booked a lump-sum gain of $328 million from selling an investment-servicing business and released $128 million in unneeded reserves for loan losses.

Shares in PNC were recently up 1.1% to $53.34.

I'd call the entire Pittsburgh region a "clear winner of the financial crisis".