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Parent Company (Tables)
 12 Months Ended
Dec. 31, 2015
Parent Company [Abstract]  
Schedule Of Condensed Financial Statements
Condensed financial information of FirstMerit Corporation (Parent Company only) is as follows:
(In thousands)
As of December 31,
Condensed Balance Sheets
2015
 
2014
 
Assets:
 
 
 
 
 
Cash and due from banks
$
99,638

 
$
142,950

 
 
Investment securities
1,553

 
1,553

 
 
Investment in subsidiaries, at equity in underlying value of their net assets
3,087,651

 
2,936,865

 
 
Other assets
16,565

 
20,479

 
 
Total Assets
$
3,205,407

 
$
3,101,847

 
Liabilities and Shareholders’ Equity:
 
 
 
 
 
Long-term debt
$
248,443

 
$
249,935

 
 
Accrued and other liabilities
16,869

 
17,631

 
 
Shareholders’ equity
2,940,095

 
2,834,281

 
Total Liabilities and Shareholders’ Equity
$
3,205,407

 
$
3,101,847

 
 
 
 
 
 

(In thousands)
Years Ended December 31,
Condensed Statements of Income
2015
 
2014
 
2013
 
Income:
 
 
 
 
 
 
 
Cash dividends from subsidiaries
$
103,500

 
$
82,642

 
$
81,715

 
 
Noninterest income
480

 
437

 
483

 
Total income
103,980

 
83,079

 
82,198

 
 
Interest and other expenses
27,096

 
30,613

 
29,684

 
Income before income tax benefit and equity in undistributed income of subsidiaries
76,884

 
52,466

 
52,514

 
 
Income tax benefit
(9,451
)
 
(10,324
)
 
(9,341
)
 
Income before equity in undistributed net income of subsidiaries
86,335

 
62,790

 
61,855

 
 
Equity in undistributed income of subsidiaries
143,149

 
175,161

 
121,829

 
Net income
$
229,484

 
$
237,951

 
$
183,684

 
 
 
 
 
 
 
 

(In thousands)
 
Years Ended December 31,
Condensed Statements of Cash Flows
 
2015
 
2014
 
2013
Operating activities:
 
 
 
 
 
 
 
 
Net income
 
$
229,484

 
$
237,951

 
$
183,684

 
 
Adjustments to reconcile net income to net cash provided by operating activities
 
 
 
 
 
 
 
 
Equity in undistributed income of subsidiaries
 
(143,149
)
 
(175,161
)
 
(121,829
)
 
 
Decrease (increase) in Federal income tax receivable
 
4,863

 
35,672

 
(30,399
)
 
 
Decrease (increase) in deferred Federal tax asset
 
1,776

 
(1,449
)
 
27,032

 
 
Increase in interest payable
 
—

 
—

 
4,618

 
 
Other
 
(4,978
)
 
(552
)
 
924

 
 
Net cash provided by operating activities
 
87,996

 
96,461

 
64,030

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 investment securities
 
—

 
784

 
—

 
 
Purchases of investment securities
 
—

 
(81
)
 
(215
)
 
 
Net cash provided (used) by investing activities
 
—

 
111,378

 
(315,334
)
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
 
(108,887
)
 
(105,333
)
 
(96,222
)
 
 
Cash dividends - preferred stock
 
(5,876
)
 
(5,876
)
 
(5,337
)
 
 
Purchase of treasury shares
 
(4,395
)
 
(4,261
)
 
(9,521
)
 
 
Repurchase of common stock warrant
 
(12,150
)
 
—

 
—

 
 
Net cash (used) provided by financing activities
 
(131,308
)
 
(189,921
)
 
235,397

(Decrease) increase in cash and cash equivalents
 
(43,312
)
 
17,918

 
(15,907
)
Cash and cash equivalents at beginning of year
 
142,950

 
125,032

 
140,939

Cash and cash equivalents at end of year
 
$
99,638

 
$
142,950

 
$
125,032