FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $14.9 billion as of December 31, 2012 and 196 banking offices and 203 ATM locations in Ohio, Western Pennsylvania, and Chicago, Illinois areas. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations. Principal affiliates include: FirstMerit Bank, N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd. and FirstMerit Community Development Corporation.
FirstMerit Completes Acquisition of Citizens Republic Bancorp
Transaction forms 6th largest bank headquartered in Midwest
Akron, Ohio, April 12, 2013 - FirstMerit Corporation (Nasdaq: FMER) announced today
that it has consummated its acquisition of Flint, Michigan-based Citizens' Republic
With pro-forma combined assets of$24.5 billion, the acquisition makes FirstMerit the
sixth-largest bank headquartered in the Midwest. FirstMerit's footprint now extends
through the contiguous states of Ohio, Michigan, Wisconsin, Illinois and Pennsylvania.
The expanded company employs approximately 5,000 employees and offers customers
more than 400 conveniently located branches and more than 440 ATM locations.
The transaction, the largest in FirstMerit's history, marks FirstMerit's entrance into
Michigan and Wisconsin and expands its presence in Northeast Ohio. On Saturday, April
13, 2013, all former Citizens branches will reopen as FirstMerit locations. Full signage
change will occur later this year.
"I am excited to welcome our new employees and clients to FirstMerit," said Paul G.
Greig, chairman, president and CEO. "It will be business as usual for customers of all
former Citizens branches as they become a part of FirstMerit. Customers will recognize
the familiar faces from Citizens who will continue to take care of their banking needs."
"We are pleased to bring the FirstMerit brand to Michigan and Wisconsin and look
forward to serving the needs of retail, business and wealth management clients in our
communities across the Midwest," said Sandy Pierce, vice chairman of FirstMerit and
chairman and CEO of FirstMerit Michigan. "Our proven value proposition and 'you first'
philosophy have kept us strong and profitable throughout the economic cycle and
position us well to be the bank of choice with new and existing customers."
Website : https://www.firstmerit.com/personal/index.html Ivestors Page
Other FirstMerit Aquisitions:
FirstMerit signs a definitive purchase and assumption agreement to acquire $1.2 billion of deposits and 24 Chicago-area branches from St. Louis-based First Bank. FirstMerit also acquires substantially all of the asset-based loans from an affiliate of First Bank under a separate loan purchase agreement. This transaction closes in the fourth quarter of 2009.
FirstMerit closes on and converts First Bank branches in Chicago to FirstMerit. FirstMerit also acquires and converts George Washington Savings Bank in Chicago with assistance from the FDIC. In May, FirstMerit acquires Midwest Bank and Trust in Chicago from the FDIC.