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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2013
Compensation and Retirement Disclosure [Abstract]  
Schedule of Net Benefit Costs
The combined components of net periodic pension and postretirement benefits and other amounts recognized in AOCI for the Corporation's pension and postretirement benefit plans as of December 31, 2013, 2012 and 2011 are as follows:
 
Pension Benefits
 
Postretirement Benefits
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Net periodic cost consists of:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
2,339

 
$
7,194

 
$
6,123

 
$
99

 
$
77

 
$
54

Interest cost
12,814

 
11,862

 
11,439

 
563

 
697

 
886

Expected return on plan assets
(14,938
)
 
(12,136
)
 
(13,313
)
 
—

 
—

 
—

Amortization of prior service cost/(credit)
469

 
388

 
394

 
(468
)
 
(468
)
 
—

Amortization of actuarial (gain)/loss
4,693

 
10,371

 
7,120

 
268

 
288

 
114

Settlement / curtailment income
(524
)
 
(142
)
 
—

 
—

 
—

 
—

Net periodic cost (benefit)
4,852

 
17,537

 
11,763

 
462

 
594

 
1,054

Other changes in plan assets and benefit obligations recognized in Other comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
Current year actuarial loss/(gain)
(47,417
)
 
1,281

 
38,403

 
(682
)
 
(57
)
 
(3,217
)
Amortization of actuarial gain/(loss)
(4,169
)
 
(10,229
)
 
(7,120
)
 
(268
)
 
(288
)
 
(114
)
Amortization of prior service (cost)/credit
(469
)
 
(388
)
 
(394
)
 
468

 
468

 
—

Total recognized in AOCI
(52,054
)
 
(9,337
)
 
30,889

 
(482
)
 
123

 
(3,330
)
Total recognized in net periodic cost and AOCI
$
(47,203
)
 
$
8,200

 
$
42,652

 
$
(20
)
 
$
717

 
$
(2,276
)
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Net Funded Status
The following table sets forth a reconciliation of the changes in the projected benefit obligation for the Corporation's pension and postretirement benefit plans as of December 31, 2013 and 2012 as well as the change in plan assets for the Corporation's qualified pension plans:
 
Pension Benefits
 
Postretirement Benefits
 
2013
 
2012
 
2013
 
2012
Accumulated benefit obligation, end of year
307,739

 
257,206

 
 
 
 
Change in projected benefit obligation:
 
 
 
 
 
 
 
Projected benefit obligation, beginning of year
$
259,428

 
$
243,640

 
$
14,771

 
$
16,250

Citizens acquisition
85,483

 
—

 
2,062

 
—

  Service cost
2,339

 
7,194

 
99

 
77

  Interest cost
12,814

 
11,862

 
563

 
697

  Plan amendments
3,927

 
—

 
—

 
—

  Participant contributions
—

 
—

 
1,538

 
1,199

  Actuarial (gains)/losses and change in assumptions
(35,984
)
 
8,529

 
(682
)
 
(58
)
  Benefits paid
(19,172
)
 
(11,797
)
 
(2,808
)
 
(3,394
)
Projected benefit obligation, end of year
$
308,834

 
$
259,428

 
$
15,544

 
$
14,771

Change in plan assets, at fair value:
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
174,385

 
$
153,605

 
$
—

 
$
—

Citizens acquisition
68,304

 
—

 
—

 
—

  Actual return on plan assets
30,298

 
19,372

 
—

 
—

  Participant contributions
—

 
—

 
1,538

 
1,199

  Employer contributions
3,695

 
13,205

 
1,270

 
2,195

  Benefits paid
(19,172
)
 
(11,797
)
 
(2,808
)
 
(3,394
)
Fair value of plan assets, end of year
$
257,510

 
$
174,385

 
$
—

 
$
—

Funded status (a)
(51,324
)
 
(85,043
)
 
(15,544
)
 
(14,771
)
Amounts recognized in AOCI before income taxes:
 
 
 
 
 
 
 
Prior service cost (credit)
$
5,121

 
$
1,663

 
$
(3,858
)
 
$
(4,326
)
Net actuarial loss
53,061

 
108,572

 
3,329

 
4,279

Amount recognized in AOCI
$
58,182

 
$
110,235

 
$
(529
)
 
$
(47
)
 
 
 
 
 
 
 
 

(a) The Corporation recognizes the underfunded status of the plans in accrued taxes, expenses and other liabilities on the Consolidated Balance Sheet.
    
Schedule of Assumptions Used
Actuarial assumptions. The actuarial assumptions used to determine year end obligations for the Corporation's pension and postretirement plans were as follows:


Weighted-average assumptions for year end obligations
2013
 
2012
 
2011
Discount rate
 
 
 
 
 
Qualified pensions
4.99
%
 
4.21
%
 
5.04
%
   Nonqualified pensions
4.12
%
 
4.21
%
 
5.04
%
   Postretirement medical benefits, FirstMerit's plan
4.01
%
 
3.18
%
 
4.23
%
   Postretirement medical benefits, Citizens' plan
3.98
%
 
na

 
na

   Postretirement life insurance benefits
5.08
%
 
4.30
%
 
5.03
%
Expected long-term rate of return
6.75
%
 
7.00
%
 
7.25
%
Rate of compensation increase
 
 
 
 
 
   Qualified pensions
na

 
na

 
5.22
%
   Nonqualified pensions
3.75
%
 
3.75
%
 
3.75
%
Assumed health care cost trend rate, pre-65 (a)
 
 
 
 
 
   Initial trend
7.50
%
 
8.00
%
 
8.50
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2019

 
2019

 
2019

Assumed health care cost trend rate, post-65 (a)
 
 
 
 
 
   Initial trend
11.50
%
 
12.00
%
 
12.50
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2027

 
2027

 
2027

Prescription Drugs
 
 
 
 
 
   Initial trend
7.50
%
 
8.00
%
 
8.50
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2019

 
2019

 
2019

 
 
 
 
 
 
(a) The health care cost trend assumptions relate only to the postretirement benefit plans. Increasing or decreasing the assumed health care cost trend rates by one percentage point each future year would not have a material impact on total service and interest cost or the year end benefit obligation.


The actuarial assumptions used as of the beginning of the year to determine the net periodic costs for the Corporation's pension and postretirement plans were as follows:
Weighted-average assumptions for benefit cost at beginning of year
2013
 
2012
 
2011
Discount rate (a)
 
 
 
 
 
Qualified pension
4.21
%
 
5.04
%
 
5.60
%
   Nonqualified pensions
4.21
%
 
5.04
%
 
5.60
%
   Postretirement medical benefits
3.18
%
 
4.23
%
 
4.43
%
   Postretirement life insurance benefits
4.30
%
 
5.03
%
 
5.53
%
Expected long-term rate of return (a)
7.00
%
 
7.25
%
 
8.25
%
Rate of compensation increase
 
 
 
 
 
Qualified pension
na

 
5.22
%
 
5.22
%
   Nonqualified pensions
3.75
%
 
3.75
%
 
3.75
%
Assumed health care cost trend rate, pre-65 (b)
 
 
 
 
 
   Initial trend
8.00
%
 
8.50
%
 
9.00
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2019

 
2019

 
2019

Assumed health care cost trend rate, post-65 (b)
 
 
 
 
 
   Initial trend
12.00
%
 
12.50
%
 
13.00
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2027

 
2027

 
2027

Prescription Drugs
 
 
 
 
 
   Initial trend
8.00
%
 
8.50
%
 
9.00
%
   Ultimate trend
5.00
%
 
5.00
%
 
5.00
%
   Year ultimate trend reached
2019

 
2019

 
2019

 
 
 
 
 
 
(a) The Citizens Pension and Postretirement Plans were remeasured at the Acquisition Date based on discount rate of 3.83% and an expected long-term rate of return of 6.75%.
(b) The health care cost trend assumptions relate only to the postretirement benefit plans. Increasing or decreasing the assumed health care cost trend rates by one percentage point each future year would not have a material impact on total service and interest cost or the year end benefit obligation
Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block]
The amounts in accumulated other comprehensive loss that are expected to be recognized as components of net periodic benefit cost (credit) during the next fiscal year are as follows:
 
Pension
 
Postretirement
 
Total
Prior service cost
$
2,534

 
$
(468
)
 
$
2,066

Cumulative net loss
1,995

 
235

 
2,230

 
 
 
 
 
 
Investment Allocation Strategy
Investment Policy and Strategy. The FirstMerit Pension Plan invests in equities and other return-seeking assets such as real assets, as well as liability-hedging assets, primarily fixed income.  The Investment Policy recognizes that the plan's asset return requirements and risk tolerances will change over time.  The Corporation utilizes a dynamic investment policy, whereby the allocation to return-seeking assets and liability-hedging assets is determined by comparing plan assets to the plan liabilities. As the plan's funded ratio status improves, the allocation to liability-hedging assets will increase.
Dynamic Investment Policy Schedule
Return-Seeking (and Diversification) Allocation Strategy
Funded Ratio
Minimum
Target
Maximum
≤80%
58%
65%
72%
81%-83%
55%
62%
69%
84%-86%
52%
58%
64%
87%-89%
47%
53%
59%
90%-92%
43%
49%
55%
93%-95%
39%
44%
49%
96%-98%
35%
40%
45%
99%-101%
31%
35%
39%
102%-104%
27%
31%
35%
105%-107%
22%
26%
30%
107%-110%
18%
22%
26%
>110%
16%
20%
24%
 
 
 
 
Schedule of Allocation of Plan Assets
weighted-average allocations for the combined FirstMerit and Citizens Pension Plans as of December 31, 2013 and the FirstMerit Pension Plan for December 31, 2012, by asset category, are as follows:
 
 
Percentage of
Plan Assets on
Measurement Date
 
 
December 31,
Asset Category
 
2013
 
2012
Cash and domestic money market funds
 
1.92
%
 
2.97
%
U.S. Treasury obligations
 
1.76
%
 
2.34
%
U.S. Government agencies
 
0.96
%
 
2.03
%
Corporate bonds
 
3.12
%
 
4.55
%
Common stocks
 
11.24
%
 
15.43
%
Equity mutual funds
 
27.62
%
 
31.35
%
Fixed income mutual funds
 
36.56
%
 
24.10
%
Foreign mutual funds
 
16.83
%
 
17.23
%
 
 
100.00
%
 
100.00
%
 
 
 
 
 
Schedule of Fair Value of Plan Assets by Measurement
The following table sets forth by level, within the fair value hierarchy, the FirstMerit Pension Plan's assets at fair value as of December 31, 2013:
 
Level 1
 
Level 2
 
Level 3
 
Total
Domestic money market funds
$
4,948

 
$
—

 
$
—

 
$
4,948

United States government securities
—

 
4,544

 
—

 
4,544

United States government agency issues
—

 
2,461

 
—

 
2,461

Corporate bonds
—

 
8,024

 
—

 
8,024

Common stocks
28,951

 
—

 
—

 
28,951

Equity mutual funds
71,118

 
—

 
—

 
71,118

Fixed income mutual funds
94,135

 
—

 
—

 
94,135

Foreign mutual funds
43,330

 
—

 
—

 
43,330

Total assets at fair value
$
242,481

 
$
15,029

 
$
—

 
$
257,510