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Last $20.55 USD
Change Today -0.13 / -0.63%
Volume 1.5M
FMER On Other Exchanges
As of 8:10 PM 07/6/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

III Cascade Plaza

7th Floor

Akron, OH 44308

United States

Phone: 330-996-6300


FirstMerit Corporation operates as the bank holding company for FirstMerit Bank, N.A. that provides a range of banking, fiduciary, financial, insurance and investment services to corporate, institutional and individual customers throughout Ohio, Chicago, Illinois, Michigan, Wisconsin and Western Pennsylvania. As of December 31, 2013, the company operated a network of 404 banking offices and 431 automated teller locations. The company’s offices span a total of 43 counties in Michigan (primarily in the lower peninsula in the geographic areas of mid-Michigan and southeast Michigan with concentrations in Genesee, Oakland and Saginaw counties), 25 counties in Wisconsin (including Brown, Calumet, Crawford, Door, Douglas, Grant, Green, Jefferson, Kewaunee, Lafayette, Langlade, Lincoln, Manitowoc, Marinette, Oconto, Oneida, Outagamie, Polk, Portage, Vilas, Walworth, Waukesha, Waupaca, Waushara and Winnebagao), 24 counties in Ohio (including Ashland, Ashtabula, Crawford, Cuyahoga, Delaware, Erie, Fairfield, Franklin, Geauga, Huron, Knox, Lake, Lorain, Lucas, Madison, Medina, Portage, Richland, Seneca, Stark, Summit, Tuscarawas, Wayne and Wood ), six counties in Illinois (including Cook, DuPage, Kane, Lake, McHenry, and Will), and Lawrence County in Pennsylvania. The company’s trust department offers wealth management and trust services. The majority of its customers comprise consumers and small and medium sized businesses. It has a small international department to service clients in its markets. The company manages its operations through the following primary lines of business: Commercial, Retail, Wealth and Other. Commercial: The commercial line of business provides a range of lending, depository, and related financial services to middle-market corporate, industrial, financial, core business banking, public entities, and leasing clients. Commercial also includes personal business from commercial loan clients in coordination with the Wealth Management segment. Products and services offered include commercial term loans, revolving credit arrangements, asset-based lending, leasing, commercial mortgages, real estate construction lending, letters of credit, treasury management, government banking, international banking, merchant card and other depository products and services. Retail: The retail line of business includes consumer lending and deposit gathering, residential mortgage loan origination and servicing, and branch-based small business banking (formerly known as the micro business line). Retail offers various retail financial products and services, including consumer direct and indirect installment loans, debit and credit cards, debit gift cards, residential mortgage loans, home equity loans and lines of credit, deposit products, fixed and variable annuities and ATM network services. Deposit products include checking, savings, money market accounts and certificates of deposit. Wealth: The wealth line of business offers a range of asset management, private banking, financial planning, estate settlement and administration, credit and deposit products and services. Trust and investment services include personal trust and planning, investment management, estate settlement and administration services. Retirement plan services focus on investment management and fiduciary activities. Brokerage and insurance delivers retail mutual funds, other securities, variable and fixed annuities, personal disability and life insurance products and brokerage services. Private banking provides credit, deposit and asset management solutions for affluent clients. Other: Included in the other category are the parent company, eliminations companies, community development operations, the treasury group, which includes the securities portfolio, wholesale funding and asset liability management activities, and the economic impact of certain assets, capital and support functions not specifically identifiable with the three primary lines of business. The principal operating subsidiaries of the bank include FirstMerit Mortgage Corporation; FirstMerit Equipment Finance Company, Inc.; CPHCSUB, LLC; CREPD, LLC; FirstMerit Insurance Group, I

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Valuation FMER Industry Range
Price/Earnings 14.7x
Price/Sales 3.4x
Price/Book 1.2x
Price/Cash Flow 14.2x
TEV/Sales 0.7x

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