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Money Center Banks

FirstMerit Corporation (FMR) is a mid-sized regional Money Center Bank based in Akron, Ohio. As of 2015, it operated in Ohio, Michigan, Wisconsin, Illinois and Indiana with approximately 350 branches. However, in 2016, Huntington Bancshares (HBAN) acquired FirstMerit in a stock-and-cash deal worth about $3.4 billion.

Before the acquisition, FirstMerit Corporation's primary business lines were commercial and retail banking, investment management, and trust services. Its main sources of revenue were net interest income from loans and investment securities, as well as non-interest income from service charges, trust and investment fees, and other sources.

Here's a summary of its historical financial performance:

1. Revenue: In 2015, FirstMerit reported total revenues of $1.3 billion, up from $1.2 billion in 2014.

2. Earnings: Net income for 2015 was $172 million, a slight increase from $169 million in 2014.

3. Earnings per Share (EPS): EPS for 2015 was $0.84, a slight increase from $0.83 in 2014.

4. Return on Assets (ROA): ROA for 2015 was 1.00%, a slight decrease from 1.04% in 2014.

5. Return on Equity (ROE): ROE for 2015 was 8.24%, up from 7.61% in 2014.

In terms of growth, FirstMerit showed steady growth in total revenues and net income in the years leading up to the acquisition. However, its ROA and ROE were relatively low compared to larger Money Center Banks.

While historical data for FirstMerit is no longer relevant for investment purposes, investors may consider looking into Huntington Bancshares, which has taken over FirstMerit's operations and is listed on the NASDAQ stock exchange under the ticker symbol HBAN.