FirstMerit (FMER) Tops Q2 EPS by 3c
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FirstMerit Reports Second Quarter 2016 EPS of $0.34 Per Share
July 26, 2016 7:30 AM EDTAKRON, Ohio, July 26, 2016 /PRNewswire/ --
Quarterly Highlights include:
Profitability sustained: 69th consecutive quarter of profitability Integration activities progress: Planned merger with Huntington Bancshares Incorporated ("Huntington") on schedule; merger-related costs of $2.5 million Strategic branch consolidations: $4.1 million nonmerger-related real estate write-downs primarily due to 9 branch consolidations Loan growth continued: Total loan growth of $118.2 million, or 0.73% from the prior quarter Credit quality remained solid: Net charge-offs to average originated loans of 0.13% Balance sheet remained strong: Strong common equity... More