FirstMerit Corporation acquires Citizens Bank
FirstMerit Corporation acquired Citizens Republic Bancorp and indirectly acquired Citizens Bank, according to the Federal Reserve.
The Cleveland Metropolitan Statistical Area, FirstMerit Bank originated 19 loans totaling $4 million for home mortgages and small business purposes, an evaluation report from the Federal Reserve said.
The high amount demonstrates the banks commitment to community development lending, said the report.
In the evaluation of the bank, examiners noted that FirstMerit Bank generated 56 community development loans, totaling $43.5 million in the Akron MSA and 66 community development loans totaling $38.2 million in the Cleveland MSA.