Key Developments For FirstMerit Corporation
FirstMerit Corporation (FMER.O) (Nasdaq)
FirstMerit Corporation Announces Quarterly Cash Dividend of $0.16 Per Share
FirstMerit Corporation announced a quarterly cash dividend of $0.16 per share on the Company's common stock payable December 21, 2009, to shareholders of record on November 30, 2009.
FirstMerit Corporation To Acquire 24 Chicago Area Branches And Midwest Asset Based Loan Business From First Bank
FirstMerit Corporation announced that it has signed a definitive purchase and assumption (P&A) agreement to acquire approximately $1.2 billion of deposits and 24 Chicago area branches from St. Louis, Mo.-based First Bank. FirstMerit will also acquire substantially all of the asset-based loans from an affiliate of First Bank under a separate loan purchase agreement. The transactions are anticipated to be accretive to earnings per share in 2010. Under the terms of the P&A agreement, FirstMerit will pay a 3.5% premium to total average deposits for the 30 days prior to close, or approximately $42 million pro-forma based on September 30, 2009 deposits. First Bank is required to deliver a minimum of $1.0 billion in deposits at closing, although FMER anticipates that First Bank will deliver approximately $1.2 billion at the time of closing. FirstMerit will also acquire a minimum of $315 million of performing loans from First Bank at par. Under a separate loan purchase agreement, FirstMerit will acquire asset based loans of approximately $104 million at a discount to par. Both transactions exclude non-performing, criticized, classified and delinquent and higher-risk loans.
FirstMerit Corporation Announces Quarterly Dividend Of $0.16 Per Share In Cash And $0.13 Per Share In Common Stock
FirstMerit Corporation announced that its Board of Directors has declared a quarterly dividend of $0.16 per share on the Company's common stock payable September 21, 2009, to shareholders of record on August 31, 2009. Shareholders of record on August 31, 2009 will also receive a $0.13 per share dividend of common stock, which will be converted into shares based on the closing price of common stock on August 31, 2009.
FirstMerit Corporation Announces Quarterly Dividend Of $0.16 per Share
FirstMerit Corporation announced that it has declared a quarterly dividend of $0.16 per share on the Company's common stock payable June 15, 2009 to shareholders of record on June 1, 2009. Shareholders of record on June 1, 2009, will also receive a $0.13 per share dividend of common stock.
FirstMerit Corporation Announces Quarterly Dividend Of $0.29 Per Share
FirstMerit Corporation announced that it has declared a quarterly cash dividend of $0.29 per share on the Corporation's Common Stock on January 15, 2009, unchanged from last quarter, payable March 16, 2009 to shareholders of record on March 2, 2009.
