Firstmerit Corp (FMER) financial statements (2020 and earlier)

Company profile

Business Address III CASCADE PLAZA
AKRON, OH 44308
State of Incorp. OH
Fiscal Year End December 31
SIC 6021 - National Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments464697918258
Cash and cash equivalents464697918258
Disposal group, including discontinued operation 13  
Total current assets:464711918258
Noncurrent Assets
Property, plant and equipment319332327181
Long-term investments and receivables0001
Long-term investments0001
Intangible assets, net (including goodwill)802813823466
Goodwill742742740460
Intangible assets, net (excluding goodwill)6171836
Total noncurrent assets:1,1221,1451,150648
Other undisclosed assets23,93923,04621,84114,007
TOTAL ASSETS:25,52524,90223,90914,913
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt311190  
Total current liabilities:311190  
Noncurrent Liabilities
Liabilities, other than long-term debt19 19 
Deferred compensation liability, classified19 19 
Total noncurrent liabilities:19 19 
Other undisclosed liabilities22,25521,87821,18713,268
Total liabilities:22,58522,06821,20613,268
Stockholders' equity
Stockholders' equity attributable to parent, including:2,9402,8342,7031,645
Preferred stock100 100 
Common stock128 128128
Treasury stock, value(115)(123)(130)(138)
Additional paid in capital1,3871,3931,391476
Accumulated other comprehensive loss(79)(72)(67)(16)
Retained earnings1,5191,4051,2781,196
Warrants and rights outstanding  3 
Other undisclosed stockholders' equity attributable to parent 231  
Total stockholders' equity:2,9402,8342,7031,645
TOTAL LIABILITIES AND EQUITY:25,52524,90223,90914,913

Income statement (P&L) ($ in millions)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
Revenues1,0131,059  
Net investment income800832  
Financial services revenue214227  
Cost of revenue(4)(56)(34)(55)
Amortization of mortgage servicing rights (msrs)(4)(4)56
Financial services costs (52)(34)(55)
Gross profit:1,0101,003(34)(55)
Operating expenses(448)(469)(362)(273)
Other operating income, net
(Noninterest Income, Other Operating Income)
38434232
Operating income (loss):600577(355)(295)
Nonoperating income18191513
Bank owned life insurance income16191712
Mortgage servicing rights (msr) impairment (recovery) (1)(2)1
Interest and debt expense(58)(57)(55)(39)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(234)(199)655508
Income from continuing operations before income taxes:327340260187
Income tax expense(97)(102)(76)(53)
Net income attributable to parent:229238184134
Preferred stock dividends and other adjustments(6)(6)(5) 
Other undisclosed net loss available to common stockholders, basic(2)(2)(2) 
Net income available to common stockholders, diluted:222230177134

Comprehensive Income ($ in millions)

12/31/2015
12/31/2014
12/31/2013
12/31/2012
Net income:229238184134
Other comprehensive income (loss)(7)(5)(51)8
Comprehensive income, net of tax, attributable to parent:222233133142

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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