Firstmerit Bank (merged into The Huntington National Bank)
Firstmerit Bank reported total assets of $26.2 bn at Q2 2016, its last Call Report before it merged into The Huntington National Bank. The CET1 capital ratio at Firstmerit Bank was 11.74%, and the uninsured share of Firstmerit Bank was 29.76%. Source: FDIC Call Reports.
What sets Firstmerit Bank apart
Nothing in the latest data sets Firstmerit Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Firstmerit Bank?
The balance sheet of Firstmerit Bank at : assets $26.2 bn, deposits $21.1 bn, net loans $16.2 bn (loans equal to 76.81% of deposits). Securities make up 26.1% of total assets at Firstmerit Bank. Since , when Firstmerit Bank held $26.1 bn, its assets grew 0.4%. At , Firstmerit Bank employed 3,844 full-time equivalent staff across 370 offices, about $6.8 mn of assets per employee and $57.0 mn of deposits per office.
How much funding at Firstmerit Bank is uninsured?
At Firstmerit Bank, uninsured deposits (above the FDIC limit) made up 29.76% of domestic deposits at . In dollars, Firstmerit Bank estimated $6.3 bn of uninsured deposits.
Key facts, Q2 2016
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $21.1 bn | not available | |
| Net loans and leases | $16.2 bn | not available | |
| Loan-to-deposit ratio | 76.81% | not available | |
| Tier 1 leverage ratio | 9.34% | not available | |
| Total risk-based capital ratio | 13.75% | not available | |
| Net interest margin | 3.30% | not available | |
| Return on assets (ROA) | 0.93% | not available | |
| Efficiency ratio | 62.20% | not available | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $31.6 mn | not available | |
| Unrealized gain/loss on available-for-sale securities | Gain of $44.7 mn | not available | |
| Noncurrent loans to total loans | 1.13% | not available | |
| Net charge-offs to average loans | 0.23% | not available |
US rank of Firstmerit Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Firstmerit Bank: assets, deposits and loans
- Total assets $26.2bn
- Deposits $21.1bn
- Net loans $16.2bn
Capital and securities
The CET1 ratio of Firstmerit Bank stood at 11.74% in . Low and high at Firstmerit Bank since : 11.52% () to 11.74% (). Equity capital of Firstmerit Bank at : $3.2 bn, or 12.2% of total assets. Firstmerit Bank also reported a total capital ratio of 13.75% for , and a tier 1 leverage ratio of 9.34%.
On held-to-maturity securities, Firstmerit Bank carried an unrealized gain of $31.6 mn at , equal to 1.0% of equity capital. The available-for-sale portfolio of Firstmerit Bank showed an unrealized gain of $44.7 mn at .
Firstmerit Bank: capital ratios
- Total capital 14%
- CET1 12%
- Tier 1 leverage 9.3%
Firstmerit Bank: unrealized securities gains and losses
- Available for sale $45mn
- Held to maturity $32mn
Profitability and loan quality
For the year to , Firstmerit Bank earned a return on equity of 7.70%; return on assets: 0.93%. Net interest margin at Firstmerit Bank: 3.30%. Firstmerit Bank net income: $120.8 mn. The efficiency ratio of Firstmerit Bank was 62.20%: about 62 cents cost per revenue dollar, against 63 cents at the median peer.
At , noncurrent loans were 1.13% of total loans at Firstmerit Bank; net charge-offs: 0.23% of average loans. Gross loans and leases at Firstmerit Bank: $16.3 bn.
Firstmerit Bank: profitability
- Return on equity 7.7%
- Net interest margin 3.3%
- Return on assets 0.9%
Peer group of Firstmerit Bank
The peer group of Firstmerit Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 3 share the charter type of Firstmerit Bank (national bank) and 0 have head offices in Ohio. Against them, Firstmerit Bank shows CET1 ratio 11.74% against a peer median of 11.68%, return on equity 7.70% against a peer median of 9.12% and uninsured deposit share 29.76% against a peer median of 39.83%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| First Horizon Bank | State member bank | TN | $27.4 bn | 10.14% | 8.75% | 40.63% | |
| EverBank | National bank | FL | $27.4 bn | 12.14% | 5.32% | 13.02% | |
| BankUnited | National bank | FL | $26.2 bn | 13.09% | 9.49% | 48.71% | |
| Firstmerit Bank | National bank | OH | $26.2 bn | 11.74% | 7.70% | 29.76% | |
| Webster Bank | National bank | CT | $25.1 bn | 10.68% | 9.58% | 25.07% | |
| Commerce Bank | State member bank | MO | $24.6 bn | 11.22% | 12.26% | 39.51% | |
| Columbia Bank | State nonmember bank | OR | $24.1 bn | 12.53% | 5.24% | 40.16% | |
. FDIC Call Reports.
Last eight quarters
Two years at Firstmerit Bank, to : assets $26.1 bn to $26.2 bn, deposits $21.2 bn to $21.1 bn, equity $3.1 bn to $3.2 bn. Staff 3,949 to 3,844; offices 378 to 370.
| Metric | Q1 2016 | Q2 2016 |
|---|---|---|
| Total assets | $26.1 bn | $26.2 bn |
| Total deposits | $21.2 bn | $21.1 bn |
| Bank equity capital | $3.1 bn | $3.2 bn |
| CET1 ratio | 11.52% | 11.74% |
| Return on equity (ROE) | 7.47% | 7.70% |
| Uninsured share of domestic deposits | 30.48% | 29.76% |
| Full-time equivalent employees | 3,949 | 3,844 |
| Number of offices | 378 | 370 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Firstmerit Bank, oldest first; figures before and after each event are not like for like.
- . Merged into The Huntington National Bank (FDIC certificate 6560).
Questions and identifiers
What were the total assets of Firstmerit Bank?
Firstmerit Bank reported $26.2 bn at in its Call Report.
Is Firstmerit Bank the same as its holding company?
No. This page covers Firstmerit Bank, FDIC certificate 13675; FIRSTMERIT CORP (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Firstmerit Bank profitable?
Firstmerit Bank reported net income of $120.8 mn for the year to ; annualized return on equity: 7.70%. So yes: Firstmerit Bank made a profit over these months.
When is data for Firstmerit Bank next updated?
Firstmerit Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Firstmerit Bank?
In the FDIC BankFind Suite record for certificate 13675, and in the Call Reports of Firstmerit Bank (RSSD ID 67311) at the FFIEC Central Data Repository.