FirstMerit (FMER) 8-K FirstMerit Reports First Quarter 2007 Results of $0.39 per share and Announces Completion of Asset Sale

Exhibit 99.1

For Release April 24, 2007, 7:30 a.m. EST

Analysts: Thomas P. O’Malley
(330) 384-7109

FirstMerit Reports First Quarter 2007 Results of $0.39 per share
and Announces Completion of Asset Sale

AKRON, Ohio, — April 24, 2007 —FirstMerit Corporation (Nasdaq: FMER) today announced first quarter 2007 net income of $31.4 million, or $0.39 per diluted share. This compares with $30.0 million, or $0.37 per diluted share, for the prior-year quarter.

Returns on average common equity (“ROE”) and average assets (“ROA”) for the first quarter 2007 were 14.91% and 1.24%, respectively, compared with 13.67% and 1.20% for the prior-year quarter.

“Our immediate priority is to accelerate the pace of credit improvement at FirstMerit. We sold $81 million of problem assets this quarter resulting in meaningful improvement in our credit metrics, a stronger balance sheet and higher quality earnings,” said Paul G. Greig, Chairman and Chief Executive Officer of FirstMerit. “This quarter we are reporting significantly lower net charge-offs, nonperforming assets and provision for loan losses. A stronger credit position along with enhancements to our overall credit and portfolio management processes moves FirstMerit toward our objective of reaching peer levels of credit quality. Improving credit quality yields improved profitability for the Company, as shown by our returns on average assets and average equity this quarter. I also am encouraged with our robust commercial loan growth which increased 2.87% from the prior quarter, and the stability of our net interest margin over the same time period.”

Net interest margin was 3.58% for the first quarter of 2007 compared with 3.58% for the fourth quarter of 2006 and 3.80% for the first quarter of 2006. The Company maintained a stable net interest margin during the first quarter of 2007, compared with the fourth quarter of 2006, by reinvesting maturing investment portfolio securities at higher yields and managing the costs of core deposits. The decrease in net interest margin compared with the first quarter of 2006 reflects both a shift in consumer preference for higher-yielding deposit products as well as increased deposit costs from a higher interest rate environment.

1

Net interest income on a fully tax-equivalent (“FTE”) basis was $83.2 million in the first quarter of 2007 compared with $84.5 million in the fourth quarter of 2006 and $86.6 million in the first quarter of 2006. The decrease in FTE net interest income compared with the fourth quarter 2006 resulted from fewer days in the quarter while average earning assets grew $63.2 million, or 0.67%, along with a stable net interest margin. The decrease in FTE net interest income compared with the first quarter of 2006 resulted from lower net interest margin, partly offset by an increase in average earning assets. Compared with the first quarter of 2006, average loans increased 3.30% and average investments decreased 2.82%.

Noninterest income net of securities transactions for the first quarter of 2007 was $48.9 million, an increase of $0.5 million or 1.13% from the fourth quarter of 2006 and an increase of $3.5 million or 7.70% from the first quarter of 2006. In the first quarter of 2007, the Company completed a previously announced asset sale that contributed $4.1 to loan sales and servicing income offset by the $0.5 million loss on the sale of other real estate which is recorded in other operating expense, for the quarter. Other income, net of securities gains, as a percentage of net revenue for the first quarter of 2007 was 37.00% compared with 36.39% for fourth quarter of 2006 and 34.39% for the first quarter of 2006. Net revenue is defined as net interest income, on a FTE basis, plus other income, less gains from securities sales.

Noninterest expense for the first quarter of 2007 was $81.5 million, a decrease of $2.5 million, or 2.93%, from the fourth quarter of 2006 and a decrease of $0.4 million, or 0.46%, from the first quarter of 2006.

Net charge-offs totaled $3.5 million, or 0.21% of average portfolio loans in the first quarter of 2007 compared with $9.2 million, or 0.56% of average portfolio loans in the first quarter of 2006.

Nonperforming assets totaled $32.7 million at March 31, 2007, a decrease of $31.5 million, or 49.1%, compared with December 31, 2006 and a decrease of $40.2 million, or 55.22%, compared with March 31, 2006. The asset sale completed during the first quarter of 2007 included $31.0 million of nonperforming assets. Nonperforming assets at March 31, 2007 represented 0.47% of period-end loans plus other real estate compared with 0.93% at December 31, 2006 and 1.09% at March 31, 2006.

The provision for loan losses decreased to $4.2 million in the first quarter of 2007 compared with $44.2 million in the fourth quarter of 2006 and $6.1 million in the first quarter of 2006. In the fourth quarter of 2006, the Company’s higher provision for loan losses were impacted by its decision to sell $73.7 million of commercial loans included in the asset sales completed during the first quarter of 2007.

2

The allowance for loan losses totaled $92.0 million at March 31, 2007, an increase of $0.7 million and $4.5 million from December 31, 2006 and March 31, 2006, respectively. At March 31, 2007, the allowance for loan losses was 1.32% of period-end loans compared with 1.33% at December 31, 2006 and 1.31% at March 31, 2006. The allowance for credit losses is the sum of the allowance for loan losses and the reserve for unfunded lending commitments. For comparative purposes the allowance for credit losses as a percentage of period end loans was 1.42% at March 31, 2007 compared with 1.42% at December 31, 2006 and 1.40% at March 31, 2006. The allowance for credit losses to nonperforming loans increased to 356.26% at March 31, 2007 compared with 179.60% on December 31, 2006 and 145.32% on March 31, 2006.

FirstMerit’s total assets at March 31, 2007 were $10.3 billion, an increase of $94.5 million, or 0.92%, compared with December 31, 2006 and an increase of $246.4 million, or 2.44%, compared with March 31, 2006. The increase from December 31, 2006, was due to continued growth in the commercial loan portfolio, which increased $106.0 million, or 2.87%, and offset decreases in the consumer portfolio. Commercial loan growth of $237.1 million, or 6.66%, drove a majority of the asset growth from March 31, 2006.

Total deposits were $7.7 billion at March 31, 2007, an increase of $202.3 million, or 2.70% from December 31, 2006, and an increase of $190.6 million, or 2.54%, from March 31, 2006. Core deposits, which exclude all time deposits, totaled $4.6 billion at March 31, 2007, an increase of $54.4 million or 1.20% from December 31, 2006 and a decrease of $132.3 million, or 2.81% from March 31, 2006.

Shareholders’ equity was $863.6 million at March 31, 2007 and the Company’s capital position remains strong as tangible equity to assets was 7.07%. The common dividend per share paid in the first quarter 2007 was $0.29.

3

First Quarter 2007 Conference Call

FirstMerit will host an earnings conference call on April 24, 2007, 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 (888) 694-4728 ten minutes before start time and provide the reservation number: 8685718. A replay of the conference call will be available at approximately 4:30 p.m., on April 24, 2007 through May 1, 2007, by dialing (877) 519-4471, and entering the PIN: 8685718.

(Logo:http://www.newscom.com/cgi-bin/prnh/20001220/FIRSTMERITLOGO)

The first quarter earnings release will be available at approximately 7:30 a.m. that same morning 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.

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.

4

FIRSTMERIT CORPORATION AND SUBSIDIARIES
Consolidated Financial Highlights
(Unaudited)
(Dollars in thousands)

	Quarters
	2007			2006			2006			2006			2006
EARNINGS	1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Net interest income FTE (a)	$	83,218			84,502			85,850			86,377			86,563
Provision for loan losses		4,210			44,235			12,612			13,159			6,106
Other income		48,876			48,332			49,341			52,078			45,397
Other expenses		81,526			83,987			76,983			85,218			81,899
FTE adjustment (a)		1,212			919			763			647			590
Net income		31,421			6,117			31,204			27,661			29,964
Diluted EPS		0.39			0.07			0.39			0.35			0.37
PERFORMANCE RATIOS
Return on average assets (ROA)		1.24	%		0.24	%		1.22	%		1.10	%		1.20	%
Return on average common equity (ROE)		14.91	%		2.66	%		13.93	%		12.75	%		13.67	%
Net interest margin FTE (a)		3.58	%		3.58	%		3.68	%		3.78	%		3.80	%
Efficiency ratio		61.55	%		63.06	%		56.78	%		61.39	%		61.90	%
Number of full-time equivalent employees		2,751			2,755			2,769			2,986			3,104
MARKET DATA
Book value/common share	$	10.78			10.56			11.28			10.88			10.91
Period-end common share mkt value		21.11			24.14			23.17			20.94			24.66
Market as a % of book		196	%		229	%		205	%		193	%		226	%
Cash dividends/common share	$	0.29			0.29			0.29			0.28			0.28
Common stock dividend payout ratio		74.36	%		414.29	%		74.36	%		80.00	%		75.68	%
Average basic common shares		80,113			80,091			80,066			79,983			80,374
Average diluted common shares		80,298			80,316			80,262			80,203			80,648
Period end common shares		80,112			80,101			80,072			80,058			79,766
Common shares repurchased		2,000			15,876			0			1,329			2,618,588
Common stock market capitalization	$	1,691,164			1,933,638			1,855,268			1,676,415			1,967,030
ASSET QUALITY
Gross charge-offs	$	9,424			22,323			15,453			18,038			14,914
Net charge-offs		3,507			18,559			11,584			13,021			9,178
Allowance for loan losses		92,045			91,342			88,755			87,727			87,589
Reserve for unfunded lending commitments		6,746			6,294			6,307			5,716			5,853
Nonperforming assets (NPAs)		32,664			64,177			72,464			58,786			72,941
Net charge-offs/average loans ratio		0.21	%		1.06	%		0.67	%		0.78	%		0.56	%
Net charge-offs and allowance related to loans held for sale/average loans ratio		0.21	%		1.40	%		0.67	%		0.78	%		0.56	%
Allowance for loan losses/period-end loans		1.32	%		1.33	%		1.28	%		1.29	%		1.31	%
Allowance for credit losses/period-end loans		1.42	%		1.42	%		1.37	%		1.37	%		1.40	%
NPAs/loans and other real estate		0.47	%		0.93	%		1.05	%		0.86	%		1.09	%
Allowance for loan losses/nonperforming loans		331.93	%		168.03	%		143.73	%		174.80	%		136.22	%
Allowance for credit losses/nonperforming loans		356.26	%		179.60	%		153.94	%		186.19	%		145.32	%
CAPITAL & LIQUIDITY
Period-end tangible equity to assets		7.07	%		6.96	%		7.55	%		7.20	%		7.31	%
Average equity to assets		8.32	%		8.91	%		8.77	%		8.66	%		8.79	%
Average equity to loans		12.35	%		13.17	%		12.99	%		12.93	%		13.27	%
Average loans to deposits		92.47	%		92.97	%		93.05	%		90.63	%		91.58	%
AVERAGE BALANCES
Assets	$	10,276,241			10,227,154			10,138,856			10,051,623			10,111,553
Deposits		7,481,969			7,440,331			7,355,877			7,426,029			7,313,509
Loans		6,918,636			6,917,572			6,844,593			6,730,531			6,697,732
Earning assets		9,437,418			9,374,223			9,249,769			9,174,008			9,245,882
Shareholders’ equity		854,713			911,348			888,841			870,234			888,818
ENDING BALANCES
Assets	$	10,347,121			10,252,572			10,217,968			10,254,773			10,100,717
Deposits		7,701,202			7,498,921			7,389,633			7,402,239			7,510,562
Loans		6,951,631			6,878,873			6,917,347			6,804,769			6,672,102
Goodwill		139,245			139,245			139,245			139,245			139,245
Intangible assets		2,644			2,865			3,088			3,311			3,533
Earning assets		9,447,346			9,382,033			9,344,841			9,315,062			9,193,741
Total shareholders’ equity		863,641			846,111			903,383			870,698			870,552

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.

FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited, except December 31, 2006, which is derived from the	March 31,			December 31,			March 31,
audited financial statements)	2007			2006			2006
ASSETS
Cash and due from banks	$	242,470			200,204			206,912
Investment securities (at fair value) and federal funds sold		2,447,426			2,407,888			2,460,321
Loans held for sale		48,289			95,272			61,318
Loans:
Commercial loans		3,800,125			3,694,121			3,562,968
Mortgage loans		598,390			608,008			625,514
Installment loans		1,628,531			1,619,747			1,509,714
Home equity loans		709,964			731,473			772,308
Credit card loans		138,183			147,553			135,916
Leases		76,438			77,971			65,682
Total loans		6,951,631			6,878,873			6,672,102
Less allowance for loan losses		(92,045	)		(91,342	)		(87,589	)
Net loans		6,859,586			6,787,531			6,584,513
Premises and equipment, net		120,556			122,954			119,571
Goodwill		139,245			139,245			139,245
Intangible assets		2,644			2,865			3,533
Accrued interest receivable and other assets		486,905			496,613			525,304
Total assets	$	10,347,121			10,252,572			10,100,717
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Demand-non-interest bearing	$	1,463,039			1,455,097			1,465,168
Demand-interest bearing		779,790			799,571			923,491
Savings and money market accounts		2,333,907			2,267,686			2,320,360
Certificates and other time deposits		3,124,466			2,976,567			2,801,543
Total deposits		7,701,202			7,498,921			7,510,562
Securities sold under agreements to repurchase		1,380,591			1,261,821			1,272,362
Wholesale borrowings		208,744			464,227			285,143
Accrued taxes, expenses, and other liabilities		192,943			181,492			162,098
Total liabilities		9,483,480			9,406,461			9,230,165
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, 2007, December 31, 2006 and March 31, 2006		127,937			127,937			127,937
Capital surplus		108,073			106,916			108,958
Accumulated other comprehensive loss		(71,328	)		(79,508	)		(53,395	)
Retained earnings		1,006,207			998,079			1,002,035
Treasury stock, at cost, 11,914,435, 11,925,803 and 12,257,585 shares at March 31, 2007, December 31, 2006 and March 31, 2006, respectively		(307,248	)		(307,313	)		(314,983	)
Total shareholders’ equity		863,641			846,111			870,552
Total liabilities and shareholders’ equity	$	10,347,121			10,252,572			10,100,717

FIRSTMERIT CORPORATION AND SUBSIDIARIES
AVERAGE CONSOLIDATED BALANCE SHEETS
(Unaudited)
(Dollars in thousands)

	Quarterly Periods
	March 31,			December 31,			September 30,			June 30,			March 31,
	2007			2006			2006			2006			2006
ASSETS
Cash and due from banks	$	179,566			175,735			185,628			188,915			194,042
Investment securities/fed funds sold		2,429,539			2,410,879			2,360,494			2,392,208			2,500,021
Loans held for sale		89,243			45,772			44,682			51,269			48,129
Loans:
Commercial loans		3,749,067			3,730,110			3,674,988			3,603,083			3,567,263
Mortgage loans		607,602			614,204			619,542			626,476			630,702
Installment loans		1,622,324			1,625,962			1,592,917			1,526,094			1,513,938
Home equity loans		717,806			738,630			755,044			772,196			775,728
Credit card loans		143,853			144,351			139,117			137,545			141,821
Leases		77,984			64,315			62,985			65,137			68,280
Total loans		6,918,636			6,917,572			6,844,593			6,730,531			6,697,732
Less allowance for loan losses		91,256			88,175			87,127			86,583			90,229
Net loans		6,827,380			6,829,397			6,757,466			6,643,948			6,607,503
Total earning assets		9,437,418			9,374,223			9,249,769			9,174,008			9,245,882
Premises and equipment, net		121,988			121,956			120,088			119,666			120,155
Accrued interest receivable and other assets		628,525			643,415			670,498			655,617			641,703
TOTAL ASSETS	$	10,276,241			10,227,154			10,138,856			10,051,623			10,111,553
LIABILITIES
Deposits:
Demand-non-interest bearing	$	1,389,455			1,413,682			1,407,653			1,455,229			1,462,671
Demand-interest bearing		756,678			767,430			794,886			865,563			848,209
Savings and money market accounts		2,284,549			2,267,268			2,246,386			2,280,657			2,292,865
Certificates and other time deposits		3,051,287			2,991,951			2,906,952			2,824,580			2,709,764
Total deposits		7,481,969			7,440,331			7,355,877			7,426,029			7,313,509
Securities sold under agreements to repurchase		1,352,961			1,269,873			1,357,746			1,212,470			1,295,178
Wholesale borrowings		399,638			446,950			367,640			371,309			433,257
Total funds		9,234,568			9,157,154			9,081,263			9,009,808			9,041,944
Accrued taxes, expenses and other liabilities		186,960			158,652			168,752			171,581			180,791
Total liabilities		9,421,528			9,315,806			9,250,015			9,181,389			9,222,735
SHAREHOLDERS’ EQUITY
Preferred stock		—			—			—			—			—
Common stock		127,937			127,937			127,937			127,937			127,937
Capital surplus		107,178			106,339			105,587			104,477			108,330
Accumulated other comprehensive (loss) income		(76,926	)		(36,045	)		(52,601	)		(54,132	)		(44,150	)
Retained earnings		1,003,605			1,020,518			1,015,749			1,001,647			998,173
Treasury stock		(307,081	)		(307,401	)		(307,831	)		(309,695	)		(301,472	)
Total shareholders’ equity		854,713			911,348			888,841			870,234			888,818
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	10,276,241			10,227,154			10,138,856			10,051,623			10,111,553

AVERAGE CONSOLIDATED BALANCE SHEETS (Unaudited)
Fully-tax Equivalent Interest Rates and Interest Differential

FIRSTMERIT CORPORATION AND
SUBSIDIARIES	Three months ended								Year ended								Three months ended
(Dollars in thousands)	March 31, 2007								December 31, 2006								March 31, 2006
	Average					Average			Average					Average			Average					Average
	Balance			Interest		Rate			Balance			Interest		Rate			Balance			Interest		Rate
ASSETS
Cash and due from banks	$	179,566								186,029								194,042
Investment securities and federal funds sold:
U.S. Treasury securities and
U.S. Government agency obligations (taxable)		1,955,704			20,222		4.19	%		2,050,736			81,207		3.96	%		2,161,306			20,850		3.91	%
Obligations of states and political subdivisions (tax exempt)		222,381			3,382		6.17	%		114,548			7,390		6.45	%		90,622			1,527		6.83	%
Other securities and federal funds sold		251,454			4,421		7.13	%		250,221			15,264		6.10	%		248,093			3,526		5.76	%
Total investment securities and federal funds sold		2,429,539			28,025		4.68	%		2,415,505			103,861		4.30	%		2,500,021			25,903		4.20	%
Loans held for sale		89,243			763		3.47	%		47,449			3,153		6.65	%		48,129			762		6.42	%
Loans		6,918,636			129,359		7.58	%		6,798,338			499,746		7.35	%		6,697,732			116,997		7.08	%
Total earning assets		9,437,418			158,147		6.80	%		9,261,292			606,760		6.55	%		9,245,882			143,662		6.30	%
Allowance for loan losses		(91,256	)							(88,020	)							(90,229	)
Other assets		750,513								770,714								761,858
Total assets	$	10,276,241								10,130,015								10,111,553
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
Demand — non-interest bearing	$	1,389,455			—		—			1,434,539			—		—			1,462,671			—		—
Demand — interest bearing		756,678			1,919		1.03	%		818,735			9,217		1.13	%		848,209			2,362		1.13	%
Savings and money market accounts		2,284,549			14,006		2.49	%		2,271,654			50,083		2.20	%		2,292,865			10,748		1.90	%
Certificates and other time deposits		3,051,287			36,080		4.80	%		2,859,218			123,877		4.33	%		2,709,764			26,101		3.91	%
Total deposits		7,481,969			52,005		2.82	%		7,384,146			183,177		2.48	%		7,313,509			39,211		2.17	%
Securities sold under agreements to repurchase		1,352,961			16,785		5.03	%		1,283,951			56,151		4.37	%		1,295,178			11,923		3.73	%
Wholesale borrowings		399,638			6,139		6.23	%		404,723			24,140		5.96	%		433,257			5,965		5.58	%
Total interest bearing liabilities		7,845,113			74,929		3.87	%		7,638,281			263,468		3.45	%		7,579,273			57,099		3.06	%
Other liabilities		186,960								167,266								180,791
Shareholders’ equity		854,713								889,929								888,818
Total liabilities and shareholders’ equity	$	10,276,241								10,130,015								10,111,553
Net yield on earning assets	$	9,437,418			83,218		3.58	%		9,261,292			343,292		3.71	%		9,245,882			86,563		3.80	%
Interest rate spread							2.93	%							3.10	%							3.25	%

Note: Interest income on tax-exempt securities and loans has been adjusted to a fully-taxable equivalent basis. Nonaccrual loans have been included in the average balances.

FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Unaudited)
(In thousands except per share data)

	Quarters ended March 31,
	2007		2006
Interest income:
Interest and fees on loans, including held for sale	$	130,089		117,740
Interest and dividends on investment securities and federal funds sold		26,846		25,332
Total interest income		156,935		143,072
Interest expense:
Interest on deposits:
Demand-interest bearing		1,919		2,362
Savings and money market accounts		14,006		10,748
Certificates and other time deposits		36,080		26,101
Interest on securities sold under agreements to repurchase		16,785		11,923
Interest on wholesale borrowings		6,139		5,965
Total interest expense		74,929		57,099
Net interest income		82,006		85,973
Provision for loan losses		4,210		6,106
Net interest income after provision for loan losses		77,796		79,867
Other income:
Trust department income		5,596		5,394
Service charges on deposits		16,249		16,066
Credit card fees		11,099		10,671
ATM and other service fees		3,071		3,108
Bank owned life insurance income		3,168		2,986
Investment services and insurance		2,453		2,597
Investment securities gains, net		—		16
Loan sales and servicing income		5,438		1,445
Other operating income		1,802		3,114
Total other income		48,876		45,397
Other expenses:
Salaries, wages, pension and employee benefits		42,500		43,031
Net occupancy expense		6,686		6,549
Equipment expense		3,084		2,958
Stationery, supplies and postage		2,333		2,453
Bankcard, loan processing and other costs		7,470		5,827
Professional services		4,829		2,763
Amortization of intangibles		223		223
Other operating expense		14,401		18,095
Total other expenses		81,526		81,899
Income before federal income tax expense		45,146		43,365
Federal income tax expense		13,725		13,401
Net income	$	31,421		29,964
Other comprehensive income (loss), net of taxes
Unrealized securities’ holding gain (loss), net of taxes		8,113		(9,748	)
Unrealized hedging gain (loss), net of taxes		67		(787	)
Minimum pension liability adjustment, net of taxes		—		—
Less: reclassification adjustment for securities’ gains losses realized in net income, net of taxes		—		10
Total other comprehensive income (loss), net of taxes		8,180		(10,545	)
Comprehensive income	$	39,601		19,419
Net income applicable to common shares	$	31,421		29,964
Net income used in diluted EPS calculation	$	31,425		29,969
Weighted average number of common shares outstanding — basic		80,113		80,374
Weighted average number of common shares outstanding — diluted		80,298		80,648
Basic earnings per share	$	0.39		0.37
Diluted earnings per share	$	0.39		0.37
Dividend per share	$	0.29		0.28

 9 

FIRSTMERIT CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME—LINKED QUARTERS
(Unaudited)
(Dollars in thousands, except share data)

	Quarterly Results
	2007		2006			2006		2006			2006
	1st Q		4th Q			3rd Q		2nd Q			1st Q
Interest and fees on loans, including held for sale	$	130,089		131,683			129,890		123,450			117,740
Interest and dividends — securities and federal funds sold		26,846		25,795			25,131		24,820			25,332
Total interest income		156,935		157,478			155,021		148,270			143,072
Interest on deposits:
Demand-interest bearing		1,919		2,031			2,241		2,583			2,362
Savings and money market accounts		14,006		14,068			13,188		12,079			10,748
Certificates and other time deposits		36,080		35,569			32,881		29,326			26,101
Securities sold under agreements to repurchase		16,785		15,393			15,878		12,957			11,923
Wholesale borrowings		6,139		6,834			5,746		5,595			5,965
Total interest expense		74,929		73,895			69,934		62,540			57,099
Net interest income		82,006		83,583			85,087		85,730			85,973
Provision for loan losses		4,210		44,235			12,612		13,159			6,106
Net interest income after provision for loan losses		77,796		39,348			72,475		72,571			79,867
Other income:
Trust department income		5,596		5,794			5,721		5,744			5,394
Service charges on deposits		16,249		18,198			19,250		18,010			16,066
Credit card fees		11,099		11,325			11,251		11,478			10,671
ATM and other service fees		3,071		3,135			3,301		3,273			3,108
Bank owned life insurance income		3,168		3,001			3,042		5,310			2,986
Investment services and insurance		2,453		2,011			2,631		2,581			2,597
Investment securities gains (losses), net		—		—			2		4			16
Loan sales and servicing income		5,438		1,504			1,731		2,833			1,445
Other operating income		1,802		3,364			2,412		2,845			3,114
Total other income		48,876		48,332			49,341		52,078			45,397
Other expenses:
Salaries, wages, pension and employee benefits		42,500		43,700			43,248		46,721			43,031
Net occupancy expense		6,686		6,143			6,002		6,120			6,549
Equipment expense		3,084		3,030			3,097		2,914			2,958
Stationery, supplies and postage		2,333		2,633			2,423		2,403			2,453
Bankcard, loan processing and other costs		7,470		7,508			7,459		7,417			5,827
Professional services		4,829		5,000			5,470		3,738			2,763
Amortization of intangibles		223		222			222		222			223
Other operating expense		14,401		15,751			9,062		15,683			18,095
Total other expenses		81,526		83,987			76,983		85,218			81,899
Income before income tax expense		45,146		3,693			44,833		39,431			43,365
Federal income taxes		13,725		(2,424	)		13,629		11,770			13,401
Net income	$	31,421		6,117			31,204		27,661			29,964
Other comprehensive income (loss), net of taxes		8,180		(41,365	)		23,870		(8,618	)		(10,545	)
Comprehensive income	$	39,601		(35,248	)		55,074		19,043			19,419
Net income applicable to common shares		31,421		6,117			31,204		27,661			29,964
Adjusted net income used in diluted EPS calculation		31,425		6,121			31,209		27,666			29,968
Weighted-average common shares — basic		80,113		80,091			80,066		79,983			80,374
Weighted-average common shares — diluted		80,298		80,316			80,262		80,203			80,648
Basic net income per share	$	0.39		0.07			0.39		0.35			0.37
Diluted net income per share	$	0.39		0.07			0.39		0.35			0.37

 10 

FIRSTMERIT CORPORATION AND SUBSIDIARIES
ASSET QUALITY INFORMATION
(Unaudited, except December 31, 2006 annual period which
is derived from the audited financial statements)
(Dollars in thousands, except ratios)

	Quarterly Periods															Annual Period
	31-Mar			31-Dec			Sep 30			June 30			Mar 31			Dec 31
	2007			2006			2006			2006			2006			2006
Allowance for Credit Losses
Allowance for loan losses, beginning of period	$	91,342			88,755			87,727			87,589			90,661			90,661
Allowance related to loans held for sale		—			(23,089	)		—			—			—			(23,089	)
Provision for loan losses		4,210			44,235			12,612			13,159			6,106			76,112
Charge-offs		9,424			22,323			15,453			18,038			14,914			70,728
Recoveries		5,917			3,764			3,869			5,017			5,736			18,386
Net charge-offs		3,507			18,559			11,584			13,021			9,178			52,342
Allowance for loan losses, end of period	$	92,045			91,342			88,755			87,727			87,589			91,342
Reserve for unfunded lending commitments, beginning of period	$	6,294			6,307			5,716			5,853			6,072			6,072
Provision for credit losses		452			(13	)		591			(137	)		(219	)		222
Reserve for unfunded lending commitments, end of period	$	6,746			6,294			6,307			5,716			5,853			6,294
Allowance for Credit Losses	$	98,791			97,636			95,062			93,443			93,442			97,636
Ratios
Provision for loan losses as a % of average loans		0.25	%		2.54	%		0.73	%		0.78	%		0.37	%		1.12	%
Provision for credit losses as a % of average loans		0.03	%		0.00	%		0.03	%		-0.01	%		-0.01	%		0.00	%
Net charge-offs as a % of average loans		0.21	%		1.06	%		0.67	%		0.78	%		0.56	%		0.77	%
Net charge-offs and allowance related to loans held for sale as a % of average loans		0.21	%		1.40	%		0.67	%		0.78	%		0.56	%		1.11	%
Allowance for loan losses as a % of period-end loans		1.32	%		1.33	%		1.28	%		1.29	%		1.31	%		1.33	%
Allowance for credit losses as a % of period-end loans		1.42	%		1.42	%		1.37	%		1.37	%		1.40	%		1.42	%
Allowance for loan losses as a % of nonperforming loans		331.93	%		168.03	%		143.73	%		174.80	%		136.22	%		168.03	%
Allowance for credit losses as a % of nonperforming loans		356.26	%		179.60	%		153.94	%		186.19	%		145.32	%		179.60	%
Asset Quality
Impaired loans:
Nonaccrual	$	17,049			45,045			52,621			41,927			56,258			45,045
Other nonperforming loans:
Nonaccrual		10,681			9,317			9,132			8,261			8,044			9,317
												��
Total nonperforming loans		27,730			54,362			61,753			50,188			64,302			54,362
Other real estate (“ORE”)		4,934			9,815			10,711			8,598			8,639			9,815
Total nonperforming assets (“NPAs”)	$	32,664			64,177			72,464			58,786			72,941			64,177
NPAs as % of period-end loans + ORE		0.47	%		0.93	%		1.05	%		0.86	%		1.09	%		0.93	%
Past due 90 days or more & accruing interest	$	15,209			16,860			15,311			16,483			18,640			16,860

FIRSTMERIT CORPORATION
NONINTEREST INCOME AND NONINTEREST EXPENSE DETAIL
(Unaudited)
(Dollars in thousands)

	2007		2006		2006		2006		2006
	1st Qtr		4th Qtr		3rd Qtr		2nd Qtr		1st Qtr
QUARTERLY OTHER INCOME DETAIL
Trust department income	$	5,596		5,794		5,721		5,744		5,394
Service charges on deposits		16,249		18,198		19,250		18,010		16,066
Credit card fees		11,099		11,325		11,251		11,478		10,671
ATM and other service fees		3,071		3,135		3,301		3,273		3,108
Bank owned life insurance income		3,168		3,001		3,042		5,310		2,986
Investment services and insurance		2,453		2,011		2,631		2,581		2,597
Investment securities gains (losses), net		—		—		2		4		16
Loan sales and servicing income		5,438		1,504		1,731		2,833		1,445
Other operating income		1,802		3,364		2,412		2,845		3,114
Total Other Income	$	48,876		48,332		49,341		52,078		45,397

	2007		2006		2006			2006		2006
	1st Qtr		4th Qtr		3rd Qtr			2nd Qtr		1st Qtr
QUARTERLY OTHER EXPENSES DETAIL
Salaries, wages, pension and employee benefits	$	42,500		43,700		43,248			46,721		43,031
Net occupancy expense		6,686		6,143		6,002			6,120		6,549
Equipment expense		3,084		3,030		3,097			2,914		2,958
Taxes, other than federal income taxes		1,662		1,753		(7,703	)		1,802		1,819
Stationery, supplies and postage		2,333		2,633		2,423			2,403		2,453
Bankcard, loan processing and other costs		7,470		7,508		7,459			7,417		5,827
Advertising		1,420		798		1,152			2,369		2,766
Professional services		4,829		5,000		5,470			3,738		2,763
Telephone		1,120		1,362		1,138			1,094		1,128
Amortization of intangibles		223		222		222			222		223
Other operating expense		10,199		11,838		14,475			10,418		12,382
Total Other Expenses	$	81,526		83,987		76,983			85,218		81,899

FIRSTMERIT CORPORATION AND SUBSIDIARIES
ALLOWANCE FOR LOAN LOSSES — Net Charge-off Detail
(Unaudited)
(Dollars in thousands)

	Quarters ended						Year ended
	March 31,						December 31,
	2007			2006			2006
Allowance for loan losses — beginning of period	$	91,342			90,661			90,661
Loans charged off:
Commercial		448			6,066			32,628
Mortgage		990			373			1,670
Installment		4,746			6,030			20,682
Home equity		820			620			3,847
Credit cards		2,399			1,774			8,294
Leases		21			51			3,607
Total		9,424			14,914			70,728
Recoveries:
Commercial		2,878			1,437			3,734
Mortgage		8			56			142
Installment		2,114			3,146			10,340
Home equity		257			378			1,293
Credit cards		474			449			2,123
Manufactured housing		112			169			451
Leases		74			101			303
Total		5,917			5,736			18,386
Net charge-offs		3,507			9,178			52,342
Provision for loan losses		4,210			6,106			76,112
Allowance related to loans held for sale		—			—			(23,089	)
Allowance for loan losses — end of period	$	92,045			87,589			91,342
Average loans outstanding	$	6,918,636			6,697,732			6,798,338
Ratio to average loans:
(Annualized) net charge-offs		0.21	%		0.56	%		0.77	%
(Annualized) net charge-offs and allowance related to loans held for sale		0.21	%		0.56	%		1.11	%
Provision for loan losses		0.25	%		0.37	%		1.12	%
Loans outstanding — period-end	$	6,951,631			6,672,102			6,878,873
Allowance for credit losses:		98,791			93,442			97,636
As a multiple of (annualized) net charge-offs		6.95			2.51			1.87
As a multiple of (annualized) net charge-offs and allowance related to loans held for sale		6.95			2.51			1.29
Allowance for loan losses:
As a percent of period-end loans outstanding		1.32	%		1.31	%		1.33	%
As a multiple of (annualized) net charge-offs		6.47			2.35			1.75
As a multiple of (annualized) net charge-offs and allowance related to loans held for sale		6.47			2.35			1.21