Huntington Bancshares Completes Acquisition of FirstMerit AUG 17, 2016 - 7:30 am Huntington Bancshares closed its acquisition of FirstMerit and is now operating as one company, having merged FirstMerit Bank into The Huntington National Bank. Huntington Bank announced Thursday night that they will acquire FirstMerit. Huntington National Bank will absorb FirstMerit Bank as part of the stock-and-cash transaction worth the equivalent of $20.14 per share. In 1981, First National Bank of Ohio and Old Phoenix National Bank of Medina merged into First Bancorporation of Ohio (First Ohio). FirstMerit predecessors go back as far as 1845. The transaction is expected to be completed in the third quarter of 2016. Huntington provides online banking solutions, mortgage, investing, loans, credit cards, and personal, small business, and commercial financial services. BT360 "We are very pleased to come together with FirstMerit to create a regional bank with added customer convenience, an enhanced portfolio of products for consumers and businesses, as well as strong market share,” Huntington CEO Steve Steinour said in a statement. Founded in 1845, First Merit is a $25.5 billion asset regional bank with a network of 366 branches and 400 ATMS in Ohio, Michigan, Wisconsin, Illinois and Pennsylvania. The total transaction is valued at about $3.4 billion including outstanding options … This deal was done in Cash & Stock. The deal gives Huntington its first operations in Chicago and Wisconsin. When the closures are complete, the company will have 38 Wisconsin branches. Huntington Bancshares said Tuesday that it had reached a deal valued at $3.4 billion to acquire Ohio rival FirstMerit, creating a sprawling Midwestern bank with a presence in eight states. Jobs kept: All FirstMerit branch employees will be offered jobs, Huntington Chairman and CEO Steve … Huntington Bancshares Inc.’s acquisition of Akron’s FirstMerit Corp. has closed on paper, but there’s still a lot of work to be done. List of Huntington National Bank's 5 Acquisitions, including Hutchinson, Shockey, Erley & Co. And First Merit Bank | Crunchbase List of Huntington National Bank 's 5 Acquisitions, including Hutchinson, Shockey, Erley & Co. and First Merit Bank Columbus, Ohio-based Huntington Bancshares Inc. has completed its previously announced $3.4 billion acquisition of Akron, Ohio-based FirstMerit Corp., parent company of FirstMerit Bank. Huntington Bank was considered a potential buyer as Huntington was expanding in Michigan. The companies expect to complete their systems integration in the first quarter of 2017, at which time FirstMerit customers’ accounts and the bank’s branches will be converted to Huntington. It now has more than $100 billion in assets and almost 1,000 branches in Wisconsin, Ohio, Illinois, Michigan, Indiana, Kentucky and Pennsylvania. Huntington’s acquisition … Huntington Bancshares has completed its acquisition of FirstMerit. Huntington National Bank will absorb FirstMerit Bank as part of the stock-and-cash transaction worth the equivalent of $20.14 per share. Huntington plans to keep customers informed about the closures as they occur. Your California Privacy Rights/Privacy Policy. News Tips Paul Greig FirstMerit Corp., the Akron-based parent company of FirstMerit Bank, announced an acquisition agreement with Columbus-based Huntington Bancshares Inc. Tuesday. There will now be more than 1,000 branches across the Midwest, and up to 1,900 ATMs for customers to use. FirstMerit shares jumped 16.5% to … Feature Me Request Huntington has 839 branches and $120 billion in assets. Nonprofit Directory, Advertising Opportunities © 2020 USA TODAY, a division of Gannett Satellite Information Network, LLC. Huntington completes acquisition of FirstMerit Bank, Global Value Investment Corp. selects new leadership, New stimulus bill packed with small business benefits, Year-end corporate tax considerations: the essentials, Fiserv acquires Silicon Valley-based digital card services platform, Peoples State Bank acquires Sunset Bank & Savings. Those branches were in Lancaster, Fennimore, Dickeyville and Potosi in southwest Wisconsin. Event Sponsorship The bank previously announced it was proposing to close 107 Huntington and FirstMerit branches in five states as part of the merger. Huntington Bancshares Incorporated Completes Acquisition Of FirstMerit Corporation Huntington Bancshares Incorporated announced it has closed its acquisition of FirstMerit Corporation and is now operating as one company, having merged FirstMerit Bank into The Huntington National Bank. The merger was expected to close in the second quarter of 2013. Columbus, Ohio-based Huntington Bancshares Inc. today announced it will acquire FirstMerit Corp., also based in Ohio, for $3.4 billion in stock and cash. As of June, the company had about 231 Wisconsin employees. It has shed one-fourth of its branches over the years as it has continued to focus on digital … FirstMerit shares jumped 16.5% to $17.91 at 9:49 a.m. Tuesday. Event Speaker Application Molly Dill, former BizTimes Milwaukee managing editor. The Bank continued expansion in Ohio buying bank branches in many Ohio counties for the following nine years. The Columbus-based holding company of Huntington Bank announced on Tuesday, Aug. 16, that the merger, valued at $3.4 billion when it was first announced in January, has closed. The companies expect to finalize the deal in the third quarter after receiving regulatory authorization. Award Nominations COLUMBUS, Ohio – Huntington Bancshares Inc., has completed its acquisition of FirstMerit Corp. and all offices of FirstMerit Bank are now branches of Huntington National Bank, Huntington announced this morning. © Dispatch file photo Huntington Bancshares of Columbus is acquiring TCF National Bank, based in Detroit. Huntington officials hope the merger with FirstMerit will be completed during the third quarter, which ends Oct. 31. News broke overnight that Huntington Bank has acquired FirstMerit Bank, which is headquartered in Akron. Huntington Bancshares officially ranks as Ohio's largest bank based on … The combined company will have nearly $100 million in assets, making it the largest bank in Ohio, according to Huntington. The next year, First Ohio purchased Twinsburg Banking Company. Since Huntington acquired FirstMerit, branch locations have closed in New Franklin, Lakemore, Norton and Akron, which lost local bank branches on … On September 13, 2012, Akron, Ohio -based FirstMerit Corporation announced it would acquire Citizens in a stock-for-stock merger transaction valued at approximately $912 million. FirstMerit Bank has now joined Huntington I am pleased to let you know that FirstMerit is now part of The Huntington National Bank, and we can officially welcome you as our customer. In June, FirstMerit president and chief executive officer Kevin Leissring was tapped to become regional president of Huntington in Wisconsin. Columbus, Ohio-based Huntington, founded in 1866, controls $71 billion in assets with 750 branches in six Midwestern states. Huntington and FirstMerit have entered into a definitive agreement under which Huntington will acquire FirstMerit. Event Photos 15/12/2020 Huntington entered the Chicago market four years ago by way of the acquisition of Akron, Ohio-based FirstMerit Bank, which itself was a relative newcomer to the market. Event Listing Below is a list of some important events in banks history, including mergers and acquisitions. Last month, FirstMerit sold four of its Wisconsin branches to Peoples State Bank of Prairie du Chien for $1.2 million. Copyright ©2020 BizTimes Media, LLC. New Hires, Promotions, Accolades BizConnect Content Huntington Bancshares Inc. is acquiring FirstMerit Corp. in a stock and cash transaction valued at approximately $3.4 billion. First Merit Bank was acquired by Huntington National Bank for $3.4B on Jan 26, 2016. “I believe the strength of this deal is that both organizations already understand the needs and goals of our Midwestern customers and communities.”. The partnership brings together two companies with a … More than 1,000 people are employed with FirstMerit in the Akron area alone. Huntington Bancshares Inc. has closed its acquisition of FirstMerit Corp. and is now operating as one company, having merged FirstMerit Bank into The Huntington National Bank… Columbus, Ohio-based Huntington Bancshares Inc. has completed its previously announced $3.4 billion acquisition of Akron, Ohio-based FirstMerit Corp., parent company of FirstMerit Bank. The two banks are effectively one entity. All Rights Reserved. In 1985, Exchange Bank in Canal Fulton in Stark County, Ohio was acquired by First Ohio. Company News, Press Releases, Awards Reprints, Due to site maintenance, you may not be able to log in or subscribe Sat, Nov 21 from 4-10 PM CT. Stay up-to-date with the issues, companies and people that matter most to business in the Milwaukee metro area. Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey. Huntington Bancshares operates The Huntington National Bank. Huntington Bancshares Inc.'s (Nasdaq: HBAN) acquisition of Akron-based FirstMerit Corp. (Nasdaq: FMER) has closed on paper, but there's still work … To view branches, routing numbers, phone numbers and business hours; you can check Huntington Bank page. Akron, Ohio-based FirstMerit controls $25.5 billion in assets and operates 366 branches in five states. Firstmerit Bank is no longer doing business under that name. Huntington Bank Completes Acquisition of FirstMerit. FirstMerit closed several branches in Wisconsin prior to the acquisition, with others—including East Troy—on the chopping block once Huntington took control. Huntington Bancshares announced Monday night that it is buying Akron-based FirstMerit in a $3.4 billion deal that is one of Huntington's biggest acquisitions in its 150-year history. 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