NEW YORK (Reuters) - PNC Financial Services Group Inc (PNC.N) said on Friday it has awarded bonuses for 2008 to its chief executive and other top officers, becoming the largest recipient of taxpayer money under the government's $700 billion Troubled Asset Relief Program to do so.
Chief Executive James Rohr was awarded a $3 million bonus, down from $3.5 million a year earlier. PNC also awarded bonuses of $1.3 million to President Joseph Guyaux, $1.24 million to Senior Vice Chairman William Demchack, $785,400 to Vice Chairman Timothy Shack and $710,000 to Chief Financial Officer Richard Johnson.
The Pittsburgh-based bank disclosed the awards in a U.S. Securities and Exchange Commission filing.
PNC received $7.6 billion of TARP money and used some of it to buy the troubled Cleveland lender National City Corp, creating the nation's seventh-largest bank.
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