FirstMerit Announces $315 Million Common Stock Offering

AKRON, Ohio, May 16 /PRNewswire-FirstCall/ -- FirstMerit Corporation (Nasdaq: FMER) announced today that it has commenced an underwritten public offering of $315 million of its common stock. The purpose of the offering includes to provide additional capital to FirstMerit Bank, National Association following its assumption of certain liabilities and deposits and acquisition of certain assets of Midwest Bank and Trust Company on May 14, 2010.

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FirstMerit intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold in the offering to cover over-allotments, if any.

Credit Suisse Securities (USA) LLC, RBC Capital Markets Corporation and Sandler O'Neill + Partners, L.P. are the bookrunning managers for the offering. 

The proposed offering will be made solely by means of a prospectus and related preliminary prospectus supplement. Copies of the prospectus and preliminary prospectus supplement for the offering may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, telephone 1-800-221-1037; RBC Capital Markets Corporation, Attention: Equity Syndicate, 3 World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281-8098, telephone 212-428-6670; or Sandler O'Neill + Partners, L.P., 919 Third Avenue, 6th Floor, New York, NY 10022, telephone 1-866-805-4128. Potential investors should first read the prospectus and the related preliminary prospectus supplement, any related free writing prospectus, the registration statement and the other documents incorporated by reference therein that FirstMerit Corporation files with the Securities and Exchange Commission. Investors may obtain these documents free of charge by visiting the SEC's website at www.sec.gov.

The shares will be issued pursuant to the Company's effective shelf registration statement on Form S-3 (File No. 333-157163). This release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statement

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements express management's current expectations, forecasts of future events or long-term goals and, by their nature, are subject to assumptions, risks and uncertainties. Actual results could differ materially from those indicated. The Company refers you to its periodic reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2009 filed on February 25, 2010, for additional discussion of these assumptions, risks and uncertainties. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

About FirstMerit

FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $12.3 billion as of March 31, 2010.

SOURCE FirstMerit Corporation

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