Update
The company recently announced that it had re-purchased its preferred stock from the Treasury Department. FirstMerit paid $125 million to reclaim the stock.
Updated 6-5-09
FirstMerit Corporation is a bank holding company for FirstMerit Bank, serving central Ohio and western Pennsylvania with approximately 160 banking offices. The company is headquartered in Akron, Ohio. Under its agreement with the Treasury, FirstMerit received $125 million through the Capital Purchase Program, in exchange for 125,000 shares of FirstMerit’s Fixed Rate Cumulative Perpetual Preferred Shares, Series A and a warrant to purchase 952,260 FirstMerit common shares. On April 22, 2009, the company repurchased the shares, paying the Treasury $126,163,194.
Resources
Bank Bio Chart | Financial Documents | Federal contracts
Lobbying reports | Political Contributions | Related Articles
Bailout Bank Bio: FirstMerit Corporation
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Federal Equity Investment |
$125 million |
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Total Revenue |
$833.9 million (2007) |
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Net Income |
$123.0 million (2007) |
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Number of Employees |
2,614 |
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Corporate Headquarters |
Akron, Ohio |
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Business Sector |
Bank |
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Officers and Directors |
Greig, Paul, Chairman of the Board, President, Chief Executive Officer |
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Corporate Website |
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Executive Compensation |
USAspending.gov (last accessed 03/26/2009)
No lobbying reports located.
Center for Responsive Politics (last accessed 03/26/2009)
January 27, 2009 FirstMerit, unlike other banks, reports a profit Plain Dealer
November 21, 2008 FirstMerit asks investors to OK Treasury money Plain Dealer
November 13, 2008 FirstMerit gets preliminary nod for Treasury funding Reuters
Last Updated June 5, 2009
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