8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) April 21, 2005

FIRSTMERIT CORPORATION

(Exact name of registrant as specified in its charter)

Ohio	0-10161	34-1339938
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

III Cascade Plaza, 7th Floor Akron, Ohio	44308
(Address of principal executive offices)	(Zip Code)

(330) 996-6300

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

      On April 21, 2005, FirstMerit Corporation (the “Company”) announced earnings for the first quarter of 2005. A copy of the press release and certain financial information for this period is attached as Exhibit 99.1 hereto and incorporated by reference herein.

      Pursuant to General Instruction B.2 of Current Report on Form 8-K, the information in this Item 2.02 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section. Furthermore, the information in this Item 2.02 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

      (c) Exhibits.

Exhibit Number	Description
99.1	Press Release dated April 21, 2005

2

Signature

      Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FirstMerit Corporation
By:	/s/ Terrence E. Bichsel
	Terrence E. Bichsel
	Executive Vice President and Chief Financial Officer

Date: April 21, 2005

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EX-99.1

TABLE OF CONTENTS

FirstMerit Corporation
III Cascade Plaza
Akron, Ohio 44308

Investor Relations:
Tom O’Malley
p. 330-384-7109

For Release April 21, 2005, 7:30 a.m. EDT
Analysts: Tom O’Malley (330) 384-7109	Media: Jacque Sir Louis (330) 849-8877

FirstMerit Reports Growth in First Quarter Earnings

Akron, Ohio — April 21, 2005 — FirstMerit Corporation (Nasdaq: FMER) today announced first quarter 2005 net income of $30.1 million, or $0.36 per diluted share. This compares with $12.7 million, or $0.15 per diluted share, for the first quarter of 2004. The increase in earnings was primarily attributable to the Company lowering its loan loss provision $28.8 million compared with first quarter of 2004. During the first quarter of 2004, the Company strengthened the allowance for loan losses by providing an additional $22.1 million above that quarter’s net charge-offs.

Annualized return on average common equity (“ROE”) and average assets (“ROA”) for the quarter were 12.48% and 1.19%, respectively, compared with 5.10% and 0.49% for the first quarter of 2004.

“Economic activity appears to be improving in our Northeast Ohio markets,” said John R. Cochran, chairman and CEO. “Production is rising in the manufacturing sector and, as a result, our commercial loan portfolio is growing. Both unemployment and personal bankruptcy are declining, enabling further improvement in our credit quality. While our economy has a long way to go, it appears to have stabilized and is now moving in a positive direction.”

He continued, “During the past two years we have taken numerous steps to prepare ourselves for the growth and improved profitability when our region returns to economic health. We are hopeful that these actions will bear fruit as this year progresses. We’ve already made significant progress controlling our expenses this year. Continuing to improve our efficiency throughout 2005 will be a key element to stronger financial performance at FirstMerit.”

Total revenue, defined as net interest income on a fully tax-equivalent (“FTE”) basis plus non-interest income net of securities transactions, totaled $129.8 million for first quarter of 2005, compared with $134.7 million for the first quarter of 2004. FTE net interest income in the quarter declined 3.35% year-over-year, to $86.7 million from $89.7 million. FTE net interest income after the provision for loan loss in the first quarter of 2005 increased $25.8 million, or 52.27%, from the first quarter of 2004, primarily as a result of lower credit-related charges due to the Company’s improved asset quality and the strengthening of the allowance for loan losses during the first quarter of 2004.

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Average earning assets for the first quarter of 2005 declined 2.38%, compared with the first quarter of 2004, primarily from a planned reduction in the investment portfolio representing the Company’s de-leverage strategy to manage interest rate risk. Compared with the fourth quarter of 2004, average earning assets grew $106.9 million, or 1.15%.

Non-interest income excluding securities transactions for the first quarter of 2005 totaled $43.1 million, compared with $45.0 million for the first quarter of 2004. For the same period, credit card and ATM service fees increased $0.7 million, and $0.2 million, for respective increases of 8.62% and 7.68%. Offsetting those increases were loan sales and servicing income that declined $0.9 million, or 45.48%, and investment services and insurance fees that decreased $1.0 million, or 25.42%.

Expenses were well-controlled during the quarter. The Company reported $75.9 million in non-interest expenses for the first quarter of 2005, compared with $76.9 million for the first quarter of 2004. Included in the first quarter 2005 expenses is a $2.1 million addition to legal reserves. Non-interest expenses declined $4.4 million compared with the fourth quarter of 2004, representing a 5.44% decrease.

As of March 31, 2005, non-performing assets were $46.7 million, an increase of $0.8 million, or 1.77%, from December 31, 2004 levels. Non-performing assets declined $41.8 million, or 47.21%, from March 31, 2004. Non-performing assets were 0.71% of period-end loans plus other real estate (“ORE”) at March 31, 2005, equivalent to the December 31, 2004 measure. At March 31, 2004, non-performing assets were 1.36% of period-end loans plus ORE. Net charge-offs for the first quarter of 2005 were $11.8 million, compared with $18.3 million for the first quarter of 2004, a decline of $6.5 million, or 35.46%. Compared with the previous quarter, net charge-offs decreased $0.8 million. Net charge-offs to average loans in the first quarter of 2005 improved to 0.74%, compared with 0.78% for the prior quarter and 1.13% for the first quarter of 2004.

The Company recorded $11.6 million of loan loss provision in the first quarter of 2005, compared with $40.4 million in the first quarter of 2004. In the fourth quarter of 2004 the loan loss provision was $9.4 million.

The allowance for credit losses at March 31, 2005 was 1.59% of period-end loans, compared with 1.60% on December 31, 2004 and 1.85% on March 31, 2004. The Company added $0.7 million to the allowance for credit losses in the first quarter of 2005 in support of a growing lending portfolio that increased $97.5 million, or 1.52% over the prior quarter. The decline in the allowance for credit losses as a percentage of period-end loans from December 31, 2004 reflects continued strengthening of the overall quality of the loan portfolio.

Assets at March 31, 2005 totaled $10.3 billion, compared with $10.5 billion at March 31, 2004, representing a 1.75% decrease. The Company’s total assets did increase from December 31, 2004 by 1.50%. Deposits totaled $7.3 billion at March 31, 2005, declining 0.77% from March 31, 2004. The Company’s decision to allow higher-cost CDs to roll off the balance sheet has contributed to the overall decline in deposit balances over the past twelve months. Over that time period, time deposits declined 3.44%, while lower-

PAGE 3

cost core deposits increased 0.84%. Core deposits now account for 63.27% of deposits at March 31, 2005, compared to 62.26% at March 31, 2004.

Shareholder equity was $946.7 million at March 31, 2005. The Company’s capital position remains strong, as tangible equity to assets was 7.93% at quarter-end. The common dividend per share paid during the quarter was $0.27 share. During the first quarter of 2005 the Company repurchased 816,208 common shares. Period-end common shares outstanding totaled 83.6 million.

First Quarter 2005 Highlights

FirstMerit Bank, in Akron, Ohio, was recognized by the Electronic Recruiting Exchange as one of the most innovative recruiters in the world. Other companies recognized for the prestigious award include Getronics North America, Valero Energy Corporation and Whirlpool Corporation.

Dominion Bond Rating Service (DBRS) initiated coverage on FirstMerit Corporation assigning ratings of A to Deposit & Senior Debts, A (low) to Issuer & Senior Debts, BBB (high) to its Subordinated Debentures and R-1 (low) to the Short- Term Instruments of its banking subsidiary, FirstMerit Bank, N.A. The trends on all ratings are Stable.

FirstMerit launched a new investor Web site providing one click access to all investor information, and easy access to reports, recent presentations publications and fillings, and all matters of corporate governance. Additionally, e-mail notifications of all corporate matters are available.

FirstMerit’s senior management will host an earnings conference call on April 21, 2005, at 2:00 p.m. Eastern time to provide an overview of first quarter results and highlights. To participate in the conference call, please dial (800) 322-0079 ten minutes before start time. A replay of the conference call will be available at approximately 4:30 p.m., on April 21, 2005 through May 5, 2005, by dialing (877) 519-4471, reservation number 5952219.

The first quarter earnings release will be available at approximately 7:30 a.m. on the Internet at http://www.firstmerit.com under the Investor Relations portion of the Web site. Any material non-public information that might be disclosed during the conference call will be posted on the Web site immediately after the conference call ends.

FirstMerit Corporation is a diversified financial services company headquartered in Akron, Ohio, with assets of $10.3 billion as of March 31, 2005, and 161 banking offices in 24 Ohio and Western Pennsylvania counties. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its wholly-owned subsidiaries which include: FirstMerit Bank, N.A., FirstMerit Mortgage Corporation, FirstMerit Title Agency, Ltd., FirstMerit Credit Life Insurance Company, and FirstMerit Community Development Corporation.

PAGE 4

Forward-Looking Statements

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.

PAGE 5

FIRSTMERIT CORPORATION AND SUBSIDIARIES
Consolidated Financial Highlights

(Unaudited)	Quarters
(Dollars in thousands)
	2005			2004			2004			2004			2004
EARNINGS	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Net interest income FTE(a)	$	86,686			87,993			88,051			87,782			89,691
Provision for loan losses		11,614			9,358			9,325			14,850			40,390
Other income		44,939			39,402			44,078			45,719			45,086
Other expenses		75,911			80,279			77,250			77,536			76,864
FTE adjustment(a)		676			669			679			675			689
Net income		30,088			28,369			31,111			31,028			12,706
Diluted EPS		0.36			0.33			0.37			0.36			0.15
PERFORMANCE RATIOS
Return on average assets (ROA)		1.19	%		1.12	%		1.21	%		1.19	%		0.49	%
Return on average common equity (ROE)		12.48	%		11.49	%		12.78	%		12.71	%		5.10	%
Net interest margin FTE(a)		3.73	%		3.76	%		3.71	%		3.66	%		3.74	%
Efficiency ratio		58.33	%		60.69	%		58.31	%		58.53	%		56.89	%
Number of full-time equivalent employees		3,081			3,158			3,232			3,267			3,166
MARKET DATA
Book value/common share	$	11.32			11.66			11.62			11.28			11.82
Period-end common share mkt value		26.76			28.49			26.31			26.37			26.05
Market as a % of book		236	%		244	%		226	%		234	%		220	%
Cash dividends/common share	$	0.27			0.27			0.27			0.26			0.26
Common stock dividend payout ratio		75.00	%		81.82	%		72.97	%		72.22	%		173.33	%
Average basic common shares		84,097			84,286			84,544			84,809			84,771
Average diluted common shares		84,497			84,777			84,962			85,149			85,186
Period end common shares		83,612			84,191			84,302			84,829			84,802
Common shares repurchased		816,208			197,235			562,538			—			—
Common stock market capitalization	$	2,237,457			2,398,602			2,217,986			2,236,941			2,209,092
ASSET QUALITY
Gross charge-offs	$	16,740			17,873			16,119			21,341			23,666
Net charge-offs		11,795			12,553			10,403			14,183			18,276
Allowance for loan losses(b)		97,115			97,296			100,491			101,569			113,573
Reserve for unfunded lending commitments(b)		6,479			5,774			5,619			5,992			6,688
Nonperforming assets (NPAs)		46,703			45,891			47,789			48,819			88,472
Net charge-off/average loans ratio		0.74	%		0.78	%		0.64	%		0.87	%		1.13	%
Allowance for loan losses/period-end loans		1.49	%		1.51	%		1.56	%		1.56	%		1.75	%
Allowance for credit losses/period-end loans(c)		1.59	%		1.60	%		1.64	%		1.65	%		1.85	%
NPAs/loans and other real estate		0.71	%		0.71	%		0.74	%		0.75	%		1.36	%
Allowance for loan losses/nonperforming loans		235.71	%		240.14	%		240.03	%		247.10	%		139.86	%
Allowance for credit losses/nonperforming loans		251.44	%		254.39	%		253.45	%		261.67	%		148.09	%
CAPITAL & LIQUIDITY
Period-end tangible equity to assets		7.93	%		8.39	%		8.34	%		7.94	%		8.32	%
Average equity to assets		9.56	%		9.70	%		9.43	%		9.38	%		9.57	%
Average equity to loans		15.06	%		15.26	%		14.96	%		15.02	%		15.34	%
Average loans to deposits		88.27	%		86.69	%		86.79	%		87.95	%		87.68	%
AVERAGE BALANCES
Assets (b)	$	10,226,765			10,120,109			10,268,456			10,471,960			10,462,533
Deposits		7,354,689			7,421,815			7,459,927			7,437,054			7,442,121
Loans		6,492,044			6,434,115			6,474,512			6,540,974			6,525,147
Earning assets		9,421,693			9,314,744			9,441,368			9,658,873			9,651,878
Shareholders’ equity		977,888			982,147			968,697			982,195			1,001,257
ENDING BALANCES
Assets (b)	$	10,274,154			10,122,627			10,164,098			10,378,155			10,456,994
Deposits		7,324,551			7,365,447			7,377,108			7,402,800			7,381,722
Loans		6,530,546			6,433,083			6,461,741			6,520,001			6,507,836
Goodwill		139,245			139,245			139,245			139,245			139,245
Intangible assets		4,424			4,647			4,869			5,091			5,314
Earning assets		9,453,738			9,343,491			9,377,760			9,552,721			9,693,976
Total shareholders’ equity		946,731			981,257			979,640			957,095			1,002,272

NOTES:
(a) — Net interest income on a fully tax-equivalent (“FTE”) basis restates interest on tax-exempt securities and loans as if such interest were subject to federal income tax at the statutory rate. Net interest income on an FTE basis is not an accounting principle generally accepted in the United States of America.
(b) — As of December 31, 2004, the reserve for unfunded lending commitments has been reclassified from the allowance for loan losses to other liabilities. Amounts presented prior to December 31, 2004, have been reclassified to conform to the current presentation.
(c) — The allowance for credit losses is the sum of the allowance for loan losses and the reserve for unfunded lending commitments.

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FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

(In thousands)
(Unaudited, except December 31, 2004, which is derived from the	March 31,			December 31,			March 31,
audited financial statements)	2005			2004			2004
ASSETS
Cash and due from banks	$	191,582			169,052			175,752
Investment securities (at fair value) and federal funds sold		2,860,021			2,862,015			3,119,123
Loans held for sale		63,171			48,393			67,017
Loans:
Commercial loans		3,392,614			3,285,012			3,358,523
Mortgage loans		637,885			639,715			608,162
Installment loans		1,601,498			1,598,588			1,635,819
Home equity loans		677,724			676,230			639,407
Credit card loans		137,044			145,042			140,491
Leases		83,781			88,496			125,434
Total loans		6,530,546			6,433,083			6,507,836
Less allowance for loan losses (a)		(97,115	)		(97,296	)		(113,573	)
Net loans		6,433,431			6,335,787			6,394,263
Premises and equipment, net		118,059			121,198			120,115
Goodwill		139,245			139,245			139,245
Intangible assets		4,424			4,647			5,314
Accrued interest receivable and other assets		464,221			442,290			436,165
Total assets	$	10,274,154			10,122,627			10,456,994
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Demand-non-interest bearing	$	1,427,307			1,470,543			1,333,867
Demand-interest bearing		827,507			841,595			782,877
Savings and money market accounts		2,379,464			2,384,510			2,478,793
Certificates and other time deposits		2,690,273			2,668,799			2,786,185
Total deposits		7,324,551			7,365,447			7,381,722
Securities sold under agreements to repurchase		1,281,745			1,336,471			1,606,534
Wholesale borrowings		557,282			300,220			308,812
Accrued taxes, expenses, and other liabilities (a)		163,845			139,232			157,654
Total liabilities		9,327,423			9,141,370			9,454,722
Commitments and contingencies
Shareholders’ equity:
Preferred stock, without par value:
authorized and unissued 7,000,000 shares		—			—			—
Preferred stock, Series A, without par value:
designated 800,000 shares; none outstanding		—			—			—
Convertible preferred stock, Series B, without par value:
designated 220,000 shares; none outstanding		—			—			—
Common stock, without par value:
authorized 300,000,000 shares; issued 92,026,350 at March 31, 2005, December 31, 2004 and March 31, 2004		127,937			127,937			127,937
Capital surplus		108,903			110,513			110,699
Accumulated other comprehensive (loss) income		(38,194	)		(14,208	)		13,353
Retained earnings		963,618			956,802			934,098
Treasury stock, at cost, 8,414,363, 7,835,399 and 7,224,528 shares at March 31, 2005, December 31, 2004 and March 31, 2004, respectively		(215,533	)		(199,787	)		(183,815	)
Total shareholders’ equity		946,731			981,257			1,002,272
Total liabilities and shareholders’ equity	$	10,274,154			10,122,627			10,456,994

(a) As of December 31, 2004, the reserve for unfunded lending commitments has been reclassified from the allowance for loan losses to other liabilities. Amounts presented prior to December 31, 2004 have been reclassifed to conform to the current presentation.

The accompanying notes are an integral part of the consolidated financial statements.

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FIRSTMERIT CORPORATION AND SUBSIDIARIES
AVERAGE CONSOLIDATED BALANCE SHEETS

	Quarterly Periods
(Unaudited)
(Dollars in thousands)	March 31,			Dec 31,			Sept 30,			June 30,			March 31,
	2005			2004			2004			2004			2004
ASSETS
Cash and due from banks	$	190,740			198,077			219,025			226,637			212,358
Investment securities/fed funds sold		2,876,415			2,831,253			2,913,395			3,054,655			3,072,724
Loans held for sale		53,234			49,376			53,461			63,244			54,007
Loans:
Commercial loans		3,346,425			3,272,545			3,286,775			3,368,633			3,355,159
Mortgage loans		646,528			642,569			637,796			628,381			616,970
Installment loans		1,598,953			1,612,132			1,646,826			1,640,665			1,644,343
Home equity loans		674,913			670,366			654,882			642,369			638,549
Credit card loans		141,440			141,953			141,751			141,460			143,497
Leases		83,785			94,550			106,482			119,466			126,629
Total loans		6,492,044			6,434,115			6,474,512			6,540,974			6,525,147
Less allowance for loan losses		96,438			99,675			101,119			112,120			90,939
Net loans		6,395,606			6,334,440			6,373,393			6,428,854			6,434,208
Total earning assets		9,421,693			9,314,744			9,441,368			9,658,873			9,651,878
Premises and equipment, net		119,916			121,147			121,672			120,798			119,728
Accrued interest receivable and other assets		590,854			585,816			587,510			577,772			569,508
TOTAL ASSETS	$	10,226,765			10,120,109			10,268,456			10,471,960			10,462,533
LIABILITIES
Deposits:
Demand-non-interest bearing	$	1,447,226			1,462,830			1,396,593			1,402,273			1,330,056
Demand-interest bearing		820,974			829,650			809,707			814,718			767,287
Savings and money market accounts		2,392,023			2,423,790			2,495,659			2,492,318			2,483,451
Certificates and other time deposits		2,694,466			2,705,545			2,757,968			2,727,745			2,861,327
Total deposits		7,354,689			7,421,815			7,459,927			7,437,054			7,442,121
Securities sold under agreements to repurchase		1,326,242			1,262,156			1,394,398			1,589,014			1,547,575
Wholesale borrowings		412,149			300,550			300,477			320,222			310,767
Total funds		9,093,080			8,984,521			9,154,802			9,346,290			9,300,463
Accrued taxes, expenses and other liabilities (a)		155,797			153,441			144,957			143,475			160,813
Total liabilities		9,248,877			9,137,962			9,299,759			9,489,765			9,461,276
SHAREHOLDERS’ EQUITY
Preferred stock		—			—			—			—			—
Common stock		127,937			127,937			127,937			127,937			127,937
Capital surplus		108,478			110,217			110,297			110,902			110,672
Accumulated other comprehensive income		(16,998	)		(12,559	)		(29,493	)		(13,730	)		(1,457	)
Retained earnings		960,740			953,566			950,094			940,726			948,521
Treasury stock		(202,269	)		(197,014	)		(190,138	)		(183,640	)		(184,416	)
Total shareholders’ equity		977,888			982,147			968,697			982,195			1,001,257
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	10,226,765			10,120,109			10,268,456			10,471,960			10,462,533

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FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(Unaudited)	Quarters ended
(In thousands except per share data)	March 31,
	2005			2004
Interest income:
Interest and fees on loans, including held for sale	$	100,149			96,627
Interest and dividends on investment securities and federal funds sold		27,692			29,211
Total interest income		127,841			125,838
Interest expense:
Interest on deposits:
Demand-interest bearing		956			366
Savings and money market accounts		6,375			4,314
Certificates and other time deposits		20,600			21,631
Interest on securities sold under agreements to repurchase		8,841			6,138
Interest on wholesale borrowings		5,059			4,387
Total interest expense		41,831			36,836
Net interest income		86,010			89,002
Provision for loan losses		11,614			40,390
Net interest income after provision for loan losses		74,396			48,612
Other income:
Trust department income		5,505			5,356
Service charges on deposits		14,820			15,419
Credit card fees		9,411			8,664
ATM and other service fees		2,959			2,748
Bank owned life insurance income		3,074			3,126
Investment services and insurance		2,858			3,832
Manufactured housing income		102			145
Investment securities gains, net		1,872			70
Loan sales and servicing income		1,133			2,078
Other operating income		3,205			3,648
Total other income		44,939			45,086
Other expenses:
Salaries, wages, pension and employee benefits		39,393			39,061
Net occupancy expense		6,536			6,017
Equipment expense		3,185			3,535
Stationery, supplies and postage		2,461			2,712
Bankcard, loan processing and other costs		5,724			5,703
Professional services		2,150			3,146
Amortization of intangibles		223			223
Other operating expense		16,239			16,467
Total other expenses		75,911			76,864
Income before income tax expense		43,424			16,834
Federal income taxes		13,336			4,128
Net income	$	30,088			12,706
Other comprehensive income (loss), net of taxes
Unrealized securities’ holding gains (losses), net of taxes		(22,583	)		22,784
Minimum pension liability adjustment during the period net of taxes		(183	)		(2	)
Less: reclassification adjustment for securities’ gains (losses) realized in net income, net of taxes		1,217			(46	)
Total other comprehensive income (loss), net of taxes		(23,983	)		22,828
Comprehensive income	$	6,105			35,534
Net income applicable to common shares	$	30,088			12,706
Net income used in diluted EPS calculation	$	30,095			12,713
Weighted average number of common shares outstanding — basic		84,097			84,771
Weighted average number of common shares outstanding — diluted		84,497			85,186
Basic earnings per share	$	0.36			0.15
Diluted earnings per share	$	0.36			0.15
Dividend per share	$	0.27			0.26

Note: Certain prior year balances have been reclassified to conform to the current year presentation.

The accompanying notes are an integral part of the consolidated financial statements.

Page 9

FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME—LINKED QUARTERS

(Unaudited)	Quarterly Results
(Dollars in thousands, except share data)	2005			2004			2004		2004			2004
	1st Q			4th Q			3rd Q		2nd Q			1st Q
Interest and fees on loans, including held for sale	$	100,149			98,792			96,374		94,126			96,627
Interest and dividends — securities and federal funds sold		27,692			26,590			27,454		28,221			29,211
Total interest income		127,841			125,382			123,828		122,347			125,838
Interest on deposits:
Demand-interest bearing		956			704			579		503			366
Savings and money market accounts		6,375			5,310			5,009		4,512			4,314
Certificates and other time deposits		20,600			20,463			19,848		19,598			21,631
Securities sold under agreements to repurchase		8,841			7,182			6,668		6,271			6,138
Wholesale borrowings		5,059			4,399			4,352		4,356			4,387
Total interest expense		41,831			38,058			36,456		35,240			36,836
Net interest income		86,010			87,324			87,372		87,107			89,002
Provision for loan losses		11,614			9,358			9,325		14,850			40,390
Net interest income after provision for loan losses		74,396			77,966			78,047		72,257			48,612
Other income:
Trust department income		5,505			5,315			5,228		5,696			5,356
Service charges on deposits		14,820			15,135			15,903		15,705			15,419
Credit card fees		9,411			9,937			9,581		9,546			8,664
ATM and other service fees		2,959			2,892			3,168		3,071			2,748
Bank owned life insurance income		3,074			3,113			2,992		3,083			3,126
Investment services and insurance		2,858			2,560			2,931		3,527			3,832
Manufactured housing income		102			10			5		5			145
Investment securities gains (losses), net		1,872			(4,508	)		29		1,412			70
Loan sales and servicing income		1,133			2,033			1,630		334			2,078
Other operating income		3,205			2,915			2,611		3,340			3,648
Total other income		44,939			39,402			44,078		45,719			45,086
Other expenses:
Salaries, wages, pension and employee benefits		39,393			40,756			41,096		39,139			39,061
Net occupancy expense		6,536			5,468			5,546		5,526			6,017
Equipment expense		3,185			3,347			3,140		3,323			3,535
Stationery, supplies and postage		2,461			2,821			2,606		2,577			2,712
Bankcard, loan processing and other costs		5,724			6,355			6,261		5,988			5,703
Professional services		2,150			3,785			2,780		3,977			3,146
Amortization of intangibles		223			222			222		222			223
Other operating expense		16,239			17,525			15,599		16,784			16,467
Total other expenses		75,911			80,279			77,250		77,536			76,864
Income before federal income taxes		43,424			37,089			44,875		40,440			16,834
Federal income taxes		13,336			8,720			13,764		9,412			4,128
Net income	$	30,088			28,369			31,111		31,028			12,706
Other comprehensive income (loss), net of taxes		(23,983	)		(823	)		28,216		(54,954	)		22,828
Comprehensive income (loss)	$	6,105			27,546			59,327		(23,926	)		35,534
Net income applicable to common shares		30,088			28,369			31,111		31,028			12,706
Adjusted net income used in diluted EPS calculation		30,095			28,377			31,119		31,035			12,713
Weighted-average common shares — basic		84,097			84,286			84,544		84,809			84,771
Weighted-average common shares — diluted		84,497			84,777			84,962		85,149			85,186
Basic net income per share	$	0.36			0.34			0.36		0.37			0.15
Diluted net income per share	$	0.36			0.33			0.37		0.36			0.15

Note: Certain prior year balances have been reclassified to conform to the current year presentation.

Page 10

FIRSTMERIT CORPORATION AND SUBSIDIARIES
ASSET QUALITY INFORMATION

(Unaudited, except December 31,2004 annual period which
is derived from the audited financial statements)
(Dollars in thousands, except ratios)

				Quarterly Periods												Annual Period
	Mar 31			Dec 31			Sep 30			June 30			Mar 31			Dec 31
Allowance for Credit Losses (a)	2005			2004			2004			2004			2004			2004
Allowance for loan losses, beginning of period (b)	$	97,296			100,491			101,569			113,573			91,459			91,459
Allowance related to loans sold		—			—			—			(12,671	)		—			(12,671	)
Provision for loan losses		11,614			9,358			9,325			14,850			40,390			73,923
Charge-offs		16,740			17,873			16,119			21,341			23,666			78,999
Recoveries		4,945			5,320			5,716			7,158			5,390			23,584
Net charge-offs		11,795			12,553			10,403			14,183			18,276			55,415
Allowance for loan losses, end of period	$	97,115			97,296			100,491			101,569			113,573			97,296
Reserve for unfunded lending commitments, beginning of period (b)	$	5,774			5,619			5,992			6,688			6,094			6,094
Provision for credit losses		705			155			(373	)		(696	)		594			(320	)
Reserve for unfunded lending commitments, end of period	$	6,479			5,774			5,619			5,992			6,688			5,774
Allowance for Credit Losses	$	103,594			103,070			106,110			107,561			120,261			103,070
Ratios (a)(b)
Provision for loan losses as a % of average loans		0.73	%		0.58	%		0.57	%		0.91	%		2.49	%		1.13	%
Provision for credit losses as a % of average loans		0.04	%		0.01	%		-0.02	%		-0.04	%		0.04	%		0.00	%
Net charge-offs as a % of average loans		0.74	%		0.78	%		0.64	%		0.87	%		1.13	%		0.85	%
Allowance for loan losses as a % of period-end loans		1.49	%		1.51	%		1.56	%		1.56	%		1.75	%		1.51	%
Allowance for credit losses as a % of period-end loans		1.59	%		1.60	%		1.64	%		1.65	%		1.85	%		1.60	%
Allowance for loan losses as a % of nonperforming loans		235.71	%		240.14	%		240.03	%		247.10	%		139.86	%		240.14	%
Allowance for credit losses as a % of nonperforming loans		251.44	%		254.39	%		253.45	%		261.67	%		148.09	%		254.39	%
Asset Quality
Impaired loans:
Nonaccrual	$	34,207			33,831			33,812			33,080			71,596			33,831
Other nonperforming loans:
Nonaccrual		6,994			6,685			8,054			8,025			9,611			6,685
Total nonperforming loans		41,201			40,516			41,866			41,105			81,207			40,516
Other real estate (“ORE”)		5,502			5,375			5,923			7,714			7,265			5,375
Total nonperforming assets (“NPAs”)	$	46,703			45,891			47,789			48,819			88,472			45,891
NPAs as % of period-end loans + ORE		0.71	%		0.71	%		0.74	%		0.75	%		1.36	%		0.71	%
Past due 90 days or more & accruing interest	$	22,899			20,703			30,882			18,387			20,995			20,703

(a)	The allowance for credit losses is the sum of the allowance for loan losses and the reserve for unfunded lending commitments.
(b)	As of December 31, 2004, the reserve for unfunded lending commitments has been reclassified from the allowance for loan losses. Amounts presented prior to December 31, 2004 have been reclassified to conform to the current presentation.

Page 11

FIRSTMERIT CORPORATION
NONINTEREST INCOME AND NONINTEREST EXPENSE DETAIL

(Unaudited)
(Dollars in thousands)

	2005		2004			2004		2004		2004
QUARTERLY OTHER INCOME DETAIL	1st Qtr		4th Qtr			3rd Qtr		2nd Qtr		1st Qtr
Trust department income	$	5,505		5,315			5,228		5,696		5,356
Service charges on deposits		14,820		15,135			15,903		15,705		15,419
Credit card fees		9,411		9,937			9,581		9,546		8,664
ATM and other service fees		2,959		2,892			3,168		3,071		2,748
Bank owned life insurance income		3,074		3,113			2,992		3,083		3,126
Investment services and insurance		2,858		2,560			2,931		3,527		3,832
Manufactured housing income		102		10			5		5		145
Investment securities gains (losses), net		1,872		(4,508	)		29		1,412		70
Loan sales and servicing income		1,133		2,033			1,630		334		2,078
Other operating income		3,205		2,915			2,611		3,340		3,648
Total Other Income	$	44,939		39,402			44,078		45,719		45,086

	2005		2004		2004		2004		2004
QUARTERLY OTHER EXPENSES DETAIL	1st Qtr		4th Qtr		3rd Qtr		2nd Qtr		1st Qtr
Salaries, wages, pension and employee benefits	$	39,393		40,756		41,096		39,139		39,061
Net occupancy expense		6,536		5,468		5,546		5,526		6,017
Equipment expense		3,185		3,347		3,140		3,323		3,535
Taxes, other than federal income taxes		735		908		1,387		1,406		1,448
Stationery, supplies and postage		2,461		2,821		2,606		2,577		2,712
Bankcard, loan processing and other costs		5,724		6,355		6,261		5,988		5,703
Advertising		1,244		2,984		1,807		1,554		586
Professional services		2,150		3,785		2,780		3,977		3,146
Telephone		1,119		1,204		1,146		1,221		1,147
Amortization of intangibles		223		222		222		222		223
Other operating expense		13,141		12,429		11,259		12,603		13,286
Total Other Expenses	$	75,911		80,279		77,250		77,536		76,864

Page 12

FIRSTMERIT CORPORATION AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES — Net Charge-off Detail

(Unaudited)
(Dollars in thousands)	Quarters ended						Year ended
	March 31,						December 31,
	2005			2004			2004
Allowance for loan losses — beginning of period	$	97,296			91,459			91,459
Loans charged off:
Commercial		4,151			8,850			25,073
Mortgage		267			104			1,174
Installment		7,543			10,087			35,958
Home equity		752			785			3,085
Credit cards		2,420			2,755			11,254
Manufactured housing		—			286			443
Leases		1,607			799			2,012
Total		16,740			23,666			78,999
Recoveries:
Commercial		1,028			898			6,068
Mortgage		55			25			42
Installment		2,725			2,847			11,545
Home equity		293			375			1,430
Credit cards		576			683			2,920
Manufactured housing		208			422			1,088
Leases		60			140			491
Total		4,945			5,390			23,584
Net charge-offs		11,795			18,276			55,415
Allowance related to loans sold		—			—			(12,671	)
Provision for loan losses		11,614			40,390			73,923
Allowance for loan losses — end of period	$	97,115			113,573			97,296
Average loans outstanding	$	6,492,044			6,525,147			6,493,472
Ratio to average loans:
(Annualized) net charge-offs		0.74	%		1.13	%		0.85	%
Provision for loan losses		0.73	%		2.49	%		1.14	%
Loans outstanding — period-end	$	6,530,546			6,507,836			6,433,083
Allowance for loan losses:
As a percent of period-end loans outstanding		1.49	%		1.75	%		1.51	%
As a multiple of (annualized) net charge-offs		2.03			1.55			1.76
As a multiple of (annualized) net charge-offs and allowance related to loans sold		2.03			1.55			1.43

(a)   As of December 31, 2004, the reserve for unfunded lending commitments has been reclassified from the allowance for loan losses to other liabilities.
Amounts presented prior to December 31, 2004 have been reclassified to conform to the current presentation.

Page 13