FirstMerit Corp (FMER) Misses Q1 EPS by 5c

FirstMerit Corp (NASDAQ: FMER) reported Q1 EPS of $0.31, $0.05 worse than the analyst estimate of $0.36.

Quarterly Highlights include:

• Profitability Sustained: 60th consecutive quarter of profitability.
• Organic growth continued: Total loan growth of $307.6 million, or 2.15% from the prior quarter.
• Credit quality remained solid: Net charge-offs to average originated loans of 0.31%; nonperforming assets as a percent of period end originated loans plus other real estate at 0.58%.
• Balance sheet remained strong: Strong tangible common equity ratio at 7.69%.

For earnings history and earnings-related data on FirstMerit Corp (FMER) click here.

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