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Parent Company
 12 Months Ended
Dec. 31, 2014
Parent Company [Abstract]  
Parent Company
Parent Company

Condensed financial information of FirstMerit Corporation (Parent Company only) is as follows:
(In thousands)
As of December 31,
Condensed Balance Sheet
2014
 
2013
 
Assets:
 
 
 
 
 
Cash and due from banks
$
142,950

 
$
125,032

 
 
Investment securities
1,553

 
2,253

 
 
Investment in subsidiaries, at equity in underlying value of their net assets
2,936,865

 
2,863,473

 
 
Other assets
20,479

 
77,674

 
 
Total Assets
$
3,101,847

 
$
3,068,432

 
Liabilities and Shareholders’ Equity:
 
 
 
 
 
Long-term debt
$
249,935

 
$
324,428

 
 
Accrued and other liabilities
17,631

 
41,110

 
 
Shareholders’ equity
2,834,281

 
2,702,894

 
 
Total Liabilities and Shareholders’ Equity
$
3,101,847

 
$
3,068,432

 
 
 
 
 
 

(In thousands)
Year Ended December 31,
Condensed Statement of Income
2014
 
2013
 
2012
 
Income:
 
 
 
 
 
 
 
Cash dividends from subsidiaries
$
82,642

 
$
81,715

 
$
155,493

 
 
Noninterest income
437

 
483

 
309

 
 
Total income
83,079

 
82,198

 
155,802

 
Interest and other expenses
30,613

 
29,684

 
10,799

 
Income before income tax benefit and equity in undistributed income of subsidiaries
52,466

 
52,514

 
145,003

 
Income tax benefit
(10,324
)
 
(9,341
)
 
(2,004
)
 
 
Income before equity in undistributed net income of subsidiaries
62,790

 
61,855

 
147,007

 
Equity in undistributed income of subsidiaries
175,161

 
121,829

 
(12,901
)
 
Net income
$
237,951

 
$
183,684

 
$
134,106

 
 
 
 
 
 
 
 

(In thousands)
 
Year Ended December 31,
Condensed Statement of Cash Flows
 
2014
 
2013
 
2012
Operating activities:
 
 
 
 
 
 
 
 
Net income
 
$
237,951

 
$
183,684

 
$
134,106

 
 
Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
 
 
 
 
Equity in undistributed income of subsidiaries
 
(175,161
)
 
(121,829
)
 
12,901

 
 
Decrease (increase) in Federal income tax receivable
 
35,672

 
(30,399
)
 
(4,446
)
 
 
(Increase) decrease in deferred Federal tax asset
 
(1,449
)
 
27,032

 
106

 
 
Increase in interest payable
 
—

 
4,618

 
—

 
 
Other
 
(552
)
 
924

 
738

 
 
Net cash provided by operating activities
 
96,461

 
64,030

 
143,405

Investing activities:
 
 
 
 
 
 
 
 
Loans or advances to subsidiaries
 
—

 
(50
)
 
—

 
 
Repayment of loans to or investment in subsidiaries
 
110,675

 
—

 
—

 
 
Cash paid for acquisition, net of cash received
 
—

 
(315,069
)
 
—

 
 
Sale of investments in subsidiaries
 
—

 
—

 
7,827

 
 
Sale of investment securities
 
784

 
—

 
—

 
 
Purchases of investment securities
 
(81
)
 
(215
)
 
(44
)
 
 
Net cash provided (used) by investing activities
 
111,378

 
(315,334
)
 
7,783

Financing activities:
 
 
 
 
 
 
 
 
Proceeds from issuance of subordinated debt
 
—

 
249,927

 
—

 
 
Proceeds from issuance of preferred stock
 
—

 
96,550

 
—

 
 
Repayment of long-term debt
 
(74,451
)
 
—

 
—

 
 
Cash dividends-common stock
 
(105,333
)
 
(96,222
)
 
(69,459
)
 
 
Cash dividends-preferred stock
 
(5,876
)
 
(5,337
)
 
—

 
 
Purchase of treasury shares
 
(4,261
)
 
(9,521
)
 
(2,389
)
 
 
Net cash (used) provided by financing activities
 
(189,921
)
 
235,397

 
(71,848
)
Increase (decrease) in cash and cash equivalents
 
17,918

 
(15,907
)
 
79,340

Cash and cash equivalents at beginning of year
 
125,032

 
140,939

 
61,599

Cash and cash equivalents at end of year
 
$
142,950

 
$
125,032

 
$
140,939