1
                                                                    Exhibit 99.3


NEWS RELEASE

                                         FIRSTMERIT CORPORATION
                                         III Cascade Plaza, Akron, OH 44308-1103
                                         (330) 996-6300
                                         www.FirstMerit.com



FOR RELEASE:               May 22, 1998           [FIRSTMERIT CORPORATION LOGO]





FOR INFORMATION CONTACT:   Dixie Vinez                   
                           Vice President/Marketing      
                           (330) 384-7068                




                   FIRSTMERIT/COBANCORP ACQUISITION COMPLETED
                         LAMB NAMED PRESIDENT AND CEO


AKRON, OHIO..... FirstMerit Corporation (FMER) announced today the completion of
its acquisition of CoBancorp Inc. of Elyria, Ohio. Its affiliates, PremierBank &
Trust and Jefferson Savings Bank will become part of FirstMerit Bank, N.A.

There will be no visible changes for our customers until Labor Day weekend
when PremierBank will operationally join FirstMerit Bank. Jefferson Savings
Bank will operationally join FirstMerit Bank in October. Beginning Tuesday,
May 26, CoBancorp customers will be able to use all FirstMerit Bank ATMs at no
charge.

Sid A. Bostic, President & Chief Operating Officer of FirstMerit Corporation,
announced that William G. Lamb has been promoted to President and CEO of
FirstMerit Bank/Elyria. He had been President and Managing Officer.

Lamb has been with the Corporation for 24 years, serving the Elyria bank in
areas of installment loans, branch management, administration, commercial loan,
chief operating officer, senior lender, managing officer and president.

Bill holds a BSBA in Marketing from the University of Akron, and is a graduate
of the School of Retail Management, University of Virginia; Ohio School of
Banking, Ohio University; Mellon School of Correspondent Banking; and American
Bankers Association School of Consumer Credit, University of Colorado. Lamb and
his wife have three children.

FirstMerit Corporation is a $6.1 billion holding company. FirstMerit's
wholly-owned subsidiaries, FirstMerit Bank, N.A., FirstMerit Mortgage
Corporation, FirstMerit Credit Life Insurance Company and FirstMerit Community
Development Corporation, serve Summit, Cuyahoga, Medina, Lorain, Stark, Wayne,
Portage, Erie, Ashtabula, Lake, Geauga, Delaware, Madison and Franklin counties
in Ohio.