May 18, 2010 (FinancialWire) — FirstMerit Corp. (NASDAQ: FMER) said that it has launched an underwritten public offering of $315 million of its common stock. Credit Suisse Securities (NYSE: CS), RBC Capital Markets (NYSE: RY) and Sandler O'Neill + Partners are the bookrunning managers.

FirstMerit said it plans to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of shares sold in the offering to cover over-allotments.

According to FirstMerit, the purpose of the offering includes to provide additional capital to FirstMerit Bank, National Association following its assumption of certain liabilities and deposits and acquisition of certain assets of Midwest Bank and Trust Co. on May 14.

Ohio-based FirstMerit is a diversified financial services company operating 156 banking offices and 179 ATMs in 25 Ohio and Western Pennsylvania counties. Principal wholly-owned subsidiaries include FirstMerit Bank, N.A., FirstMerit Mortgage Corp., FirstMerit Title Agency, Ltd., and FirstMerit Community Development Corp.

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