Earnings flat at FirstMerit
Source: Akron Beacon Journal (Original Article)
Earnings for the first quarter of 2008 for FirstMerit Corp. were relatively unchanged from the previous financial period.
In a report this morning, the Akron-based bank said first-quarter net income of $31.4 million, or 39 cents per share, compared to $31.5 million, or 39 cents per share, for the fourth quarter of 2007.
The bank’s first-quarter earnings are identical to those of a year ago, first quarter 2007.
In a press release, Chairman and Chief Executive Officer Paul G. Greig said ”revenue growth, expense control and credit quality performance in line with our expectations highlight our financial results. FirstMerit is positioned to profitably grow its balance sheet by winning new business and deepening existing customer relationships. We will execute our super community banking model with an aggressive sales approach tempered by our enhanced credit discipline.”
The company will hold an earnings conference call for analysts at 2 p.m. today.
At 11:52 Domains Sales a.m., FirstMerit shares were up 12 cents to $20.43.