Five things

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 didn’t share details.

— Betty ?Lin-Fisher