FirstMerit Corporation Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis

April 2024 | 50 pages | ID: F0374C0BCDEBEN
BAC Reports

Abstracts

FirstMerit Corporation Fundamental Company Report provides a complete overview of the company’s affairs. All available data is presented in a comprehensive and easily accessed format. The report includes financial and SWOT information, industry analysis, opinions, estimates, plus annual and quarterly forecasts made by stock market experts. The report also enables direct comparison to be made between FirstMerit Corporation and its competitors. This provides our Clients with a clear understanding of FirstMerit Corporation position in the Industry.

• The report contains detailed information about FirstMerit Corporation that gives an unrivalled in-depth knowledge about internal business-environment of the company: data about the owners, senior executives, locations, subsidiaries, markets, products, and company history.
• Another part of the report is a SWOT-analysis carried out for FirstMerit Corporation. It involves specifying the objective of the company's business and identifies the different factors that are favorable and unfavorable to achieving that objective. SWOT-analysis helps to understand company’s strengths, weaknesses, opportunities, and possible threats against it.
• The FirstMerit Corporation financial analysis covers the income statement and ratio trend-charts with balance sheets and cash flows presented on an annual and quarterly basis. The report outlines the main financial ratios pertaining to profitability, margin analysis, asset turnover, credit ratios, and company’s long-term solvency. This sort of company's information will assist and strengthen your company’s decision-making processes.
• In the part that describes FirstMerit Corporation competitors and the industry in whole, the information about company's financial ratios is compared to those of its competitors and to the industry. The unique analysis of the market and company’s competitors along with detailed information about the internal and external factors affecting the relevant industry will help to manage your business environment. Your company’s business and sales activities will be boosted by gaining an insight into your competitors’ businesses.
• Also the report provides relevant news, an analysis of PR-activity, and stock price movements. The latter are correlated with pertinent news and press releases, and annual and quarterly forecasts are given by a variety of experts and market research firms. Such information creates your awareness about principal trends of FirstMerit Corporation business.

About FirstMerit Corporation

FirstMerit Corporation, through its subsidiaries, provides a range of banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers throughout northern and central Ohio, and western Pennsylvania.

Subsidiaries and Operations

The company's banking subsidiary is FirstMerit Bank, N.A. (FirstMerit Bank). As of December 31, 2009, FirstMerit Bank operated a network of 160 full service banking offices and 182 automated teller machines. Its offices span a total of 24 counties in Ohio, including Ashland, Ashtabula, Crawford, Cuyahoga, Delaware, Erie, Fairfield, Franklin, Geauga, Holmes, Huron, Knox, Lake, Lorain, Lucas, Madison, Medina, Portage, Richland, Seneca, Stark, Summit, Wayne and Wood Counties, and Lawrence County in Pennsylvania.

Other services provided by FirstMerit Bank or its affiliates include automated banking programs, credit and debit cards, rental of safe deposit boxes, letters of credit, leasing, securities brokerage and life insurance products. FirstMerit Bank also operates a trust department, which offers wealth management and trust services. The majority of its customers comprise consumers and small and medium size businesses.

The company's non-banking direct and indirect subsidiaries provide insurance sales services, credit life, credit accident and health insurance, securities brokerage services, equipment lease financing, and other financial services.

The company's principal direct operating subsidiary other than FirstMerit Bank is FirstMerit Community Development Corporation. Through a community development corporation, financial institutions can fulfill these requirements by nontraditional activities, such as acquiring, rehabilitating or investing in real estate in low to moderate income neighborhoods, and promoting the development of small business.

FirstMerit Mortgage Corporation, located in Canton, Ohio, originates residential mortgage loans and provides mortgage loan servicing for itself; and FirstMerit Bank. FirstMerit Equipment Finance Company, Inc. provides commercial lease financing and related services. Bank subsidiaries FirstMerit Securities, Inc. and FirstMerit Financial Services, Inc. provide investment securities and annuities to customers. In addition, FirstMerit Advisors, Inc. provides certain financial planning services to customers of FirstMerit Bank and other FirstMerit subsidiaries. Two new subsidiaries, CPHCSub, LLC and CREPD, LLC, were opened in 2009 to hold distressed commercial and construction properties, received through the loan foreclosure process during this time of economic downturn.

FirstMerit Bank is also the parent company of FirstMerit Insurance Group, Inc.; FirstMerit Insurance Agency, Inc., a life insurance and financial consulting firm an insurance agency licensed to sell life insurance products and annuities; and FirstMerit Title Agency, Ltd., FirstMerit Mortgage Reinsurance Company, Inc., and FirstMerit Risk Management, Inc., a captive insurance subsidiary.

Loan Portfolio

As of December 31, 2009, the company’s loan portfolio included commercial loans; mortgage loans; installment loans; home equity loans; credit card loans; and leases.

Deposits

The company’s deposit products include demand deposits- non-interest bearing; demand deposits- interest-bearing; savings and money market accounts; and certificates and other time deposits.

Investment Portfolio

As of December 31, 2009, the company’s investment portfolio included U.S. government agencies; U.S states and political subdivisions; residential mortgage-backed securities; residential collateralized mortgage securities; corporate debt securities; and marketable equity securities.

Competition

The company's primary financial institution competitors include PNC Bank, KeyBank, Huntington Bank, US Bank, and Fifth Third Bank.

History

FirstMerit Corporation was founded in 1855.

The above Company Fundamental Report is a half-ready report and contents are subject to change.
It means that we have all necessary data in our database to prepare the report but need 2-3 days to complete it. During this time we are also updating the report with respect to the current moment. So, you can get all the most recent data available for the same price. Please note that preparation of additional types of analyses requires extra time.

Contents

RESEARCH METHODOLOGY

DISCLAIMER

1. FIRSTMERIT CORPORATION COMPANY PROFILE

1.1. Key facts
1.2. Financial Performance
1.3. Key Executives
1.4. Ownership and Major Holders
1.5. Company History

2. FIRSTMERIT CORPORATION BUSINESS OVERVIEW

2.1. Business Description
2.2. Major Products and Services
2.3. Markets and Sales Activities
2.4. Locations, Subsidiaries, Operating Units

3. FIRSTMERIT CORPORATION SWOT ANALYSIS

3.1. Overview
3.2. Strengths
3.3. Weaknesses
3.4. Opportunities
3.5. Threats

4. FIRSTMERIT CORPORATION FINANCIAL ANALYSIS

4.1. Financial Statements
4.1.1. Income Statement
4.1.2. Balance Sheet
4.1.3. Cash Flow
4.2. Financial Ratios
4.2.1. Profitability
4.2.2. Margin Analysis
4.2.3. Asset Turnover
4.2.4. Credit Ratios
4.2.5. Long-Term Solvency
4.2.6. Growth Over Prior Year
4.2.7. Financial Ratios Charts
4.3. Stock Market Snapshot

5. FIRSTMERIT CORPORATION COMPETITORS AND INDUSTRY ANALYSIS

5.1. FirstMerit Corporation Direct Competitors
5.2. Comparison of FirstMerit Corporation and Direct Competitors Financial Ratios
5.3. Comparison of FirstMerit Corporation and Direct Competitors Stock Charts
5.4. FirstMerit Corporation Industry Analysis
5.4.1. Industry Snapshot
  5.4.2. FirstMerit Corporation Industry Position Analysis

6. FIRSTMERIT CORPORATION NEWS & EVENTS

6.1. News & PR Activity Analysis
6.2. IR Corporate News
6.3. Marketing News
6.4. Corporate Events

7. FIRSTMERIT CORPORATION EXPERTS REVIEW¹

7.1. Experts Consensus
7.2. Experts Revisions

8. FIRSTMERIT CORPORATION ENHANCED SWOT ANALYSIS²

9. UNITED STATES PESTEL ANALYSIS²

9.1. Political Factors
9.2. Economic Factors
9.3. Social Factors
9.4. Technological Factors
9.5. Environmental Factors
9.6. Legal Factors

10. FIRSTMERIT CORPORATION IFE, EFE, IE MATRICES²

10.1. Internal Factor Evaluation Matrix
10.2. External Factor Evaluation Matrix
10.3. Internal External Matrix

11. FIRSTMERIT CORPORATION PORTER FIVE FORCES ANALYSIS²

12. FIRSTMERIT CORPORATION VRIO ANALYSIS²

APPENDIX: RATIO DEFINITIONS

LIST OF FIGURES

FirstMerit Corporation Annual Revenues in Comparison with Cost of Goods Sold and Gross Profit
Profit Margin Chart
Operating Margin Chart
Return on Equity (ROE) Chart
Return on Assets (ROA) Chart
Debt to Equity Chart
Current Ratio Chart
FirstMerit Corporation 1-year Stock Charts
FirstMerit Corporation 5-year Stock Charts
FirstMerit Corporation vs. Main Indexes 1-year Stock Chart
FirstMerit Corporation vs. Direct Competitors 1-year Stock Charts
FirstMerit Corporation Article Density Chart

1 – Data availability depends on company’s security policy.
2 – These sections are available only when you purchase a report with appropriate additional types of analyses.
The complete financial data is available for publicly traded companies.

List Of Tables

LIST OF TABLES

FirstMerit Corporation Key Facts
Profitability
Management Effectiveness
Income Statement Key Figures
Balance Sheet Key Figures
Cash Flow Statement Key Figures
Financial Performance Abbreviation Guide
FirstMerit Corporation Key Executives
FirstMerit Corporation Major Shareholders
FirstMerit Corporation History
FirstMerit Corporation Products
Revenues by Segment
Revenues by Region
FirstMerit Corporation Offices and Representations
FirstMerit Corporation SWOT Analysis
Yearly Income Statement Including Trends
Income Statement Latest 4 Quarters Including Trends
Yearly Balance Sheet Including Trends
Balance Sheet Latest 4 Quarters Including Trends
Yearly Cash Flow Including Trends
Cash Flow Latest 4 Quarters Including Trends
FirstMerit Corporation Profitability Ratios
Margin Analysis Ratios
Asset Turnover Ratios
Credit Ratios
Long-Term Solvency Ratios
Financial Ratios Growth Over Prior Year
FirstMerit Corporation Capital Market Snapshot
FirstMerit Corporation Direct Competitors Key Facts
Direct Competitors Profitability Ratios
Direct Competitors Margin Analysis Ratios
Direct Competitors Asset Turnover Ratios
Direct Competitors Credit Ratios
Direct Competitors Long-Term Solvency Ratios
Industry Statistics
FirstMerit Corporation Industry Position
Company vs. Industry Income Statement Analysis
Company vs. Industry Balance Sheet Analysis
Company vs. Industry Cash Flow Analysis
Company vs. Industry Ratios Comparison
FirstMerit Corporation Consensus Recommendations¹
Analyst Recommendation Summary¹
Price Target Summary¹
Experts Recommendation Trends¹
Revenue Estimates Analysis¹
Earnings Estimates Analysis¹
Historical Surprises¹
Revenue Estimates Trend¹
Earnings Estimates Trend¹
Revenue Revisions¹

ANALYSIS FEATURES

SWOT Analysis

SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that identifies the internal and external factors that are favorable and unfavorable for a company.

Enhanced SWOT Analysis

Enhanced SWOT is a 3×3 grid that arranges strengths, weaknesses, opportunities and threats into one scheme:

• How to use the strengths to take advantage of the opportunities?
• How to use the strengths to reduce likelihood and impact of the threats?
• How to overcome the weaknesses that obstruct taking advantage of the opportunities?
• How to overcome the weaknesses that can make the threats a reality?

Upon answering these questions a company can develop a project plan to improve its business performance.

PESTEL Analysis

PESTEL (also termed as PESTLE) is an ideal tool to strategically analyze what influence different outside factors – political, economic, sociocultural, technological, environmental and legal – exert on a business to later chart its long term targets.

Being part of the external analysis when carrying out a strategic assessment or performing a market study, PESTEL gives an overview of diverse macro-environmental factors that any company should thoughtfully consider. By perceiving these outside environments, businesses can maximally benefit from the opportunities while minimizing the threats to the organization.

Key Factors Examined by PESTEL Analysis:

• Political – What opportunities and pressures are brought by political bodies and what is the degree of public regulations’ impact on the business?
• Economic – What economic policies, trends and structures are expected to affect the organization, what is this influence’s degree?
• Sociological – What cultural and societal aspects will work upon the demand for the business’s products and operations?
• Technological – What impact do the technological aspects, innovations, incentives and barriers have on the organization?
• Environmental – What environmental and ecological facets, both locally and farther afield, are likely to predetermine the business?
• Legal – What laws and legislation will exert influence on the style the business is carried out?

IFE, EFE, IE Matrices

The Internal Factor Evaluation matrix (IFE matrix) is a strategic management tool helping audit or evaluate major weaknesses and strengths in a business’s functional areas. In addition, IFE matrix serves as a basis for identifying and assessing relationships amongst those areas. The IFE matrix is utilised in strategy formulation.

The External Factor Evaluation matrix (EFE matrix) is a tool of strategic management that is typically utilised to assess current market conditions. It is an ideal instrument for visualising and prioritising the threats and opportunities a firm is facing.

The essential difference between the above mentioned matrices lies in the type of factors incorporated in the model; whilst the latter is engaged in internal factors, the former deals exceptionally with external factors – those exposed to social, political, economic, legal, etc. external forces.

Being a continuation of the EFE matrix and IFE matrix models, the Internal External matrix (IE matrix) rests upon an investigation of external and internal business factors integrated into one suggestive model.

Porter Five Forces Analysis

The Porter’s five forces analysis studies the industry of operation and helps the company find new sources of competitive advantage. The analysis surveys an industry through five major questions:

1. What composes a threat of substitute products and services?
2. Is there a threat of new competitors entering the market?
3. What is the intensity of competitive rivalry?
4. How big is the bargaining power of buyers?
5. How significant is the bargaining power of suppliers?

VRIO Analysis

VRIO stands for Value, Rarity, Imitability, Organization. This analysis helps to evaluate all company’s resources and capabilities and bring them together into one aggregate table that includes:

• Tangible resources
  • Financial
  • Physical
  • Technological
  • Organizational
• Intangible resources
  • Human
  • Innovation and Creativity
  • Reputation
• Organizational capabilities

The result of the analysis gives a clear picture of company’s competitive and economic implications, answering the questions if the resources mentioned above are:

• Valuable?
• Rare?
• Costly to imitate?
• Organized properly?