Business Combinations (Tables)

6 Months Ended

Jun. 30, 2013

Accretable Yield Acquired Loans Table [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table provides the purchase price calculation as of the Acquisition Date and the identifiable assets purchased and the liabilities assumed at their estimated fair value. These fair value measurements are provisional based on third-party valuations that are currently under review and are subject to refinement for up to one year after the Acquisition Date based on additional information obtained by Management that existed as of the Acquisition Date.

Purchase Price (in thousands, except share data):
FirstMerit common stock shares issued for Citizens' shares				55,468,283
Closing price per share of the Corporation's common stock on April 12, 2013				$	16.68
Consideration from common stock conversion (1.37 ratio)				$	925,211
Cash paid to the Treasury for Citizens' TARP Preferred				355,371
Cash paid in lieu of fractional shares to the former Citizens' shareholders				61
Consideration from the warrant issued to the Treasury for Citizens' TARP warrant				3,000
Total purchase price				$	1,283,643
Preliminary Statement of Net Assets Acquired at Fair Value:
ASSETS
Cash and due from banks	$	544,380
Investment Securities	3,202,577
Loans	4,624,292
Premises and equipment	138,766
Intangible assets	84,774		1
Accrued interest receivable and other assets	678,910
Total assets	$	9,273,699
LIABILITIES
Deposits	$	7,276,754
Borrowings	908,824
Accrued taxes, expenses, and other liabilities	78,816
Total liabilities	$	8,264,394
Net identifiable assets acquired				1,009,305
Goodwill				$	274,338

1 - Intangible assets consist of core deposit intangibles of $70.8 million and trust relationships of approximately $14.0 million. The useful life for which the core deposit intangible and the trust relationships are being amortized over is 15 and 12 years, respectively.

Business Acquisition, Pro Forma Information

These unaudited pro forma results are presented for illustrative purposes and are not intended to represent or be indicative of the actual results of operations of the combined corporation that would have been achieved had the acquisition occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations.

	Three months ended June 30,				Six months ended June 30,
	2013		2012		2013		2012
Total revenue, net of interest expense	$	335,796	$	325,041	$	643,052	$	640,615
Net income	73,972		367,035		153,487		450,094

Note: 2012 net income includes approximately $276.8 million of tax benefits as a result of Citizens restoration of its deferred tax asset.

Acquired Impaired and Non-Impaired Loans at Acquisition Date

	Acquired Impaired		Acquired Non-impaired		Acquired Loans Total
Commercial
C&I	$	62,018	$	1,698,758	$	1,760,776
CRE	377,967		359,080		737,047
Construction	13,399		18,519		31,918
Total commercial	453,384		2,076,357		2,529,741
Consumer
Residential mortgages	233,005		279,735		512,740
Installment	54,377		1,165,235		1,219,612
Home equity lines	32,035		330,164		362,199
Total consumer	319,417		1,775,134		2,094,551
Total	$	772,801	$	3,851,491	$	4,624,292

	Acquired Impaired		Acquired Non-Impaired		Acquired Loans Total
Commercial
C&I	$	62,018	$	1,698,758	$	1,760,776
CRE	377,967		359,080		737,047
Construction	13,399		18,519		31,918
Total commercial	453,384		2,076,357		2,529,741
Consumer
Residential mortgages	233,005		279,735		512,740
Installment	54,377		1,165,235		1,219,612
Home equity lines	32,035		330,164		362,199
Total consumer	319,417		1,775,134		2,094,551
Total	$	772,801	$	3,851,491	$	4,624,292

Changes in Carrying Amount of Accretable Yield for Purchased Loans

	Accretable Yield as of April 12, 2013
	Acquired Impaired			Acquired Non-impaired			Acquired Loans Total
Contractual required payments receivable	$	1,023,481		$	4,078,355		$	5,101,836
Nonaccretable difference	(121,719		)	—			(121,719		)
Expected cash flows	901,762			4,078,355			4,980,117
Accretable yield	(128,961		)	(226,864		)	(355,825		)
Carrying balance	$	772,801		$	3,851,491		$	4,624,292

	Acquired Impaired			Acquired Non-Impaired			Acquired Loans Total
Contractual required payments receivable	$	1,023,481		$	4,078,355		$	5,101,836
Nonaccretable difference	(121,719		)	—			(121,719		)
Expected cash flows	901,762			4,078,355			4,980,117
Accretable yield	(128,961		)	(226,864		)	(355,825		)
Carrying balance	$	772,801		$	3,851,491		$	4,624,292