AKRON, Ohio, May 1 /PRNewswire-FirstCall/ -- FirstMerit Corporation
(Nasdaq: FMER) today announced the appointment of William P. Richgels as
executive vice president and chief credit officer. Mr. Richgels will be
responsible for overseeing all of FirstMerit's credit and portfolio
management functions. He has over 25 years of banking industry experience
and joins FirstMerit from JP Morgan Chase, in Chicago, where he was the
senior credit executive overseeing a Midwest commercial portfolio of middle
market customers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001220/FIRSTMERITLOGO )
"Bill brings a strong credit background that solidifies the initiatives
we have put in place to improve our credit quality. His leadership and
experience in credit risk management will contribute to the overall
enhancement of our longer-term financial performance. We are delighted to
welcome Bill to the FirstMerit team," said Paul G. Greig, Chairman and CEO
of FirstMerit Corporation.
The Company also announced today that Mark J. Grescovich, who had been
interim chief credit officer, will assume the role of head of Commercial
Banking.
About FirstMerit
FirstMerit Corporation is a diversified financial services company
headquartered in Akron, Ohio, with assets of $10.3 billion as of March 31,
2007 and 161 banking offices and 176 ATMs in 25 Ohio and Western
Pennsylvania counties. FirstMerit provides a complete range of banking and
other financial services to consumers and businesses through its core
operations. Principal wholly-owned subsidiaries include: FirstMerit Bank,
N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd., and
FirstMerit Community Development Corporation.
Forward-Looking Statement
This release contains forward-looking statements relating to present or
future trends or factors affecting the banking industry, and specifically
the financial condition and results of operations, including without
limitation, statements relating to the earnings outlook of the Company, as
well as its operations, markets and products. Actual results could differ
materially from those indicated. Among the important factors that could
cause results to differ materially are interest rate changes, continued
softening in the economy, which could materially impact credit quality
trends and the ability to generate loans, changes in the mix of the
Company's business, competitive pressures, changes in accounting, tax or
regulatory practices or requirements and those risk factors detailed in the
Company's periodic reports and registration statements filed with the
Securities and Exchange Commission. The Company undertakes no obligation to
release revisions to these forward-looking statements or reflect events or
circumstances after the date of this release.
Analysts and Media:
Thomas P. O'Malley
(330) 384-7109
SOURCE FirstMerit Corporation
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Related links:
http://www.firstmerit.com
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CONTACT:
Thomas P. O'Malley of FirstMerit Corporation,
+1-330-384-7109
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