Columbus, Ohio-based Huntington Bancshares Inc. has closed on its $3.4 billion acquisition of FirstMerit Corp., also based in Ohio, and is now operating as one company.
Huntington’s acquisition of FirstMerit grows the company to approximately $100 billion in assets, the largest bank in Ohio by deposits, and nearly 1,000 branch locations and 2,000 ATMs across eight states — Michigan, Ohio, Illinois, Indiana, Kentucky, Pennsylvania, West Virginia, and Wisconsin.
“Huntington’s acquisition of FirstMerit expands customer convenience (by) extending our products and services,” says Stephen D. Steinour, chairman, president, and CEO of Huntington.
He says both Huntington and FirstMerit customer relationships following the closing will continue through 2016, with customers kept informed about pending 2017 branch and account conversions and timing of previously announced branch consolidations and closings of certain locations.
Following the closing of the acquisition, several executive leadership changes will also take place.
Sandra E. Pierce, former vice chairman of FirstMerit Corp. and CEO of First Merit Michigan, will join Huntington as senior executive vice president of the Private Client Group and the regional banking director and chair of Michigan.
Founded in 1866, Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. The company also provides auto dealer, equipment finance, national settlement, and capital market services that extend beyond its core states.