PNC Bank 2006 Annual Report Download - page 26

William C. Mutterperl joined PNC as Vice Chairman in
October 2002. From August 2002 to October 2002, he was a
partner in the business law division of the international law
firm of Brown Rudnick Berlack Israels LLP. From February
2002 to May 2002, he served as Executive Director of the
Independent Oversight Board for Arthur Andersen LLP,
headed by former Federal Reserve Chairman Paul Volcker.
Richard J. Johnson joined PNC in December 2002 and served
as Senior Vice President and Director of Finance until his
appointment as Chief Financial Officer of the Corporation
effective in August 2005. From 1999 to 2002 he served as
President and Chief Executive Officer for J.P. Morgan
Services.
John J. Wixted, Jr. joined PNC as Senior Vice President and
Chief Regulatory Officer in August 2002. From 1996 to 2002
he served as Senior Vice President for Banking Supervision
and Regulation for the Federal Reserve Bank of Chicago.
DIRECTORS OF THE REGISTRANT The name, age and
principal occupation of each of our directors as of
February 16, 2007, and the year he or she first became a
director is set forth below:
• Paul W. Chellgren, 64, Operating Partner, SPG
Partners, LLC, (1995),
• Robert N. Clay, 60, President and Chief Executive
Officer of Clay Holding Company (investments),
(1987),
• J. Gary Cooper, 70, Chairman of Commonwealth
National Bank (community banking), (2002),
• George A. Davidson, Jr., 68, Retired Chairman of
Dominion Resources, Inc. (public utility holding
company), (1988),
• Kay Coles James, 57, President and Founder of The
Gloucester Institute (non-profit), (2006),
• Richard B. Kelson, 60, Operating Advisor, Pegasus
Capital Advisors, L.P., (2002),
• Bruce C. Lindsay, 65, Chairman and Managing
Member of 2117 Associates, LLC (advisory
company), (1995),
• Anthony A. Massaro, 62, Retired Chairman and
Chief Executive Officer of Lincoln Electric
Holdings, Inc. (full-line manufacturer of welding and
cutting products), (2002),
• Jane G. Pepper, 61, President of Pennsylvania
Horticultural Society (nonprofit membership
organization), (1997),
• James E. Rohr, 58, Chairman and Chief Executive
Officer of PNC, (1990),
• Lorene K. Steffes, 61, Independent Business Advisor,
(2000),
• Dennis F. Strigl, 60, President and Chief Operating
Officer of Verizon Communications Inc.
(telecommunications), (2001),
• Stephen G. Thieke, 60, Retired Chairman, Risk
Management Committee of JP Morgan Incorporated
(financial and investment banking services), (2002),
• Thomas J. Usher, 64, Retired Chairman of United
States Steel Corporation (integrated steelmaker) and
Chairman of Marathon Oil Corporation (oil and gas
industry), (1992),
• George H. Walls, Jr., 64, former Chief Deputy
Auditor of the State of North Carolina, (2006),
• Helge H. Wehmeier, 64, Retired President and Chief
Executive Officer of Bayer Corporation (healthcare,
crop protection, and chemicals), (1992).
PART II
ITEM 5– MARKET FOR REGISTRANT ’ S COMMON
EQUITY , RELATED STOCKHOLDER MATTERS AND
ISSUER PURCHASES OF EQUITY SECURITIES
(a) Our common stock is listed on the New York Stock
Exchange and is traded under the symbol “PNC.” At the close
of business on February 16, 2007, there were 41,285 common
shareholders of record.
Holders of PNC common stock are entitled to receive
dividends when declared by the Board of Directors out of
funds legally available for this purpose. Our Board of
Directors may not pay or set apart dividends on the common
stock until dividends for all past dividend periods on any
series of outstanding preferred stock have been paid or
declared and set apart for payment. The Board presently
intends to continue the policy of paying quarterly cash
dividends. However, the amount of any future dividends will
depend on earnings, our financial condition and other factors,
including contractual restrictions and applicable government
regulations and policies (such as those relating to the ability of
bank and non-bank subsidiaries to pay dividends to the parent
company).
The Federal Reserve has the power to prohibit us from paying
dividends without its approval. For further information
concerning dividend restrictions and restrictions on loans or
advances from bank subsidiaries to the parent company, you
may review “Supervision and Regulation” in Item 1 of this
Report, “Liquidity Risk Management” in the Risk
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