you need to know about the Huntington-FirstMerit acquisition:
1. Columbus-based Huntington Bancshares will acquire Akron-based FirstMerit Corp. for $3.4 billion in stock and cash. The new bank, which will take the Huntington name, will be the No. 1 bank by deposits in Ohio.
2. While the deal is expected to be completed in the third quarter of 2016, there will be branch closures both FirstMerit and Huntington but likely not until 2017.
3. Huntington committed that in two years it will have the same number of employees in Akron and Summit County 1,200 as FirstMerit has now.
4. Huntington will form a foundation in Akron and spend $20 million, or $2 million per year for 10 years, to help community members and boost the local economy.
5. Huntington officials have pledged to maintain a downtown Akron presence but didnt share details.