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                                  EXHIBIT 99






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                                                                    Exhibit 99

COBANCORP INC.

                                                     November 3, 1997
                                                     For immediate release
                                                     Contact: Lois E. Gunning
                                                     Corporate Secretary
                                                     CoBancorp Inc.
                                                     Elyria, Ohio 44035
                                                     (216) 284-6422

CoBancorp Inc. to be Acquired by FirstMerit Corporation

Elyria, Ohio - CoBancorp Inc. (NASDAQ: COBI), the holding company for
PREMIERBank & Trust and Jefferson Savings Bank, announced today the signing of a
definitive agreement to be acquired by FirstMerit Corporation (NASDAQ: FMER).

Under the terms of the agreement, each share of CoBancorp Inc. common stock will
be exchanged for $44.50 in cash or for shares of common stock of FirstMerit with
a market value per share of $44.50, based upon the market value of FirstMerit
common stock during a period prior to closing of the transaction, subject to
adjustment as provided for in the definitive agreement. CoBancorp shareholders
may elect to exchange their common stock for either common stock of FirstMerit,
or $44.50 in cash, provided that no less than 30 percent and no more than 49
percent of the total transaction value will be paid in cash.

In connection with the transaction, CoBancorp has provided FirstMerit with an
option to acquire up to 19.9 percent of its common stock under certain
conditions.

John S. Kreighbaum, Chairman, President and Chief Executive Officer of
CoBancorp, stated, "The merger of CoBancorp, which currently holds the dominant
market share position in Lorain County, with FirstMerit Corporation will create
the premier financial institution serving the Lorain County/Western Cleveland
market. CoBancorp's philosophy of providing exceptional community banking
services to the communities it serves is extremely compatible with that of
FirstMerit, which will provide both CoBancorp's and FirstMerit's customers the
same high level of service they have received in the past. Given FirstMerit's
greater financial resources, the combined institution will provide increased
access to more convenient and technologically advanced banking services. As a
result of the transaction, our shareholders should be provided significant value
enhancement, superior liquidity and continued access to excellent banking
services."

CoBancorp, headquartered in Elyria, Ohio, has approximately $602 million in
deposits and 39 branches in Ohio. FirstMerit Corporation is a $5.2 billion
holding company which operates 128 full-service banking offices and 153
automated teller machines within the state of Ohio.