PITTSBURGH -- National City Bank wants its customers to know that the bank is stable and deposits are safe despite Friday's 26 percent drop in share prices.

Todd Moules, president of National City PA, told WTAE Channel 4 Action News that comparing National City, the nation's 11th largest bank, to the now-seized Washington Mutual is not right.

"We are a diversified commercial bank with diversified revenue sources -- asset management, corporate and consumer banking as well as mortgages -- while almost 90 percent of primary business of Washington Mutual was mortgages," Moules told WTAE Channel 4.

Federal regulators seized Washington Mutual on Thursday and then sold the thrift's banking assets to JPMorgan Chase for $1.9 billion.

Moules said National City has reduced its exposure to the mortgage market, built substantial reserves and is focused on managing its risk for customers.

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