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Economy and Business

FirstMerit profitability continues
Commercial loans are growing at regional bank

Web Editor
M.L. Schultze

First Merit has just completed its 12th straight year of profits. In its first-quarter earnings report, the Akron-based bank says deposits were up, commercial loans grew by nearly 10 percent and overall net income nearly doubled over the first quarter of a year ago.

FirstMerit took over dozens of failed banks in the Chicago area during the recession and was among the first regional banks to repay federal TARP money. Chairman Paul Greig says community banking has been key to FirstMerit’s performance. 

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