Shares of National City Corp. (NCC) were up 20% in early morning trading on Thursday, following reports Wednesday that the Cleveland-based bank is in talks to sell. The Wall Street Journal cited PNC Financial Services Group Inc. and The Bank of Nova Scotia as potential buyers.

In the past year shares of National city have lost more than 80%, and although the company has beugn scaling back its mortgage business, with the current economic crisis investors have become increasingly worried about the bank's exposure to home-equity loans.

Just a few weeks ago, National City hit its all-time low, falling to $2 per share.