CHICAGO - National City, Ohio's largest bank, this week announced it has raised $7 billion in cash that is expected to allow the financially struggling bank to avoid a sale as it continues to take heavy losses from the collapse of the subprime mortgage market.

The bank announced the capital plan the same day it released first-quarter financials that showed a loss of $171 million, primarily due to loan losses of up to $1.4 billion for the quarter, compared to $122 million in loan losses for the first quarter of last year. The bank said another $1.8 billion in loans were at least 90 days past due as of March 31, 2008. NatCity is one of the nation's busiest mortgage lenders.

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