The bank has secured $985 million from New York-based Corsair Capital LLC, which has experience with troubled financial institutions internationally, National City said yesterday. National City is also cutting its dividend to 1 cent per share from 21 cents to help strengthen the capital position. Profit dropped for a third straight quarter and slid more than analysts expected, dragged down by what chief executive Kenneth Lewis called a "litany of negative issues. Bank of America predicted the housing market will remain weak all year, as credit problems once concentrated there spread into other areas such as credit cards. Excluding merger costs, profit was 26 cents per share, below the average analyst forecast of 45 cents, according to Reuters Estimates. Read More