Here are some answers to questions about Huntington Bancsharesí planned purchase of FirstMerit Corp. Answers are based on information provided by Huntington officials.
Q: Iím a FirstMerit customer. Will I have to change my automatic deposits or checks or account numbers?
A: Customer relationships continue with FirstMerit until the deal closes. Afterward, customer accounts will automatically convert to Huntington. At that time, consumers will need to order new checks and update auto≠matic deposit information. Customers will receive instructions about the change.
Q: When will decisions be made about branch closures and how will they be made?
A: There are many overlaps between the two banks. Decisions will be made soon, but consumers will have 60 to 90 days notice and the actual branch closures will likely not happen until 2017. More than proximity will be considered. Some branches may be within a mile of each other but in a different community or neighborhood of importance.
Q: Will there be any effect on FirstMerit retirees or benefits because of this merger?
A: There is no impact to FirstMerit retiree benefits from this transaction.
Q: What will happen to the downtown Akron FirstMerit presence?
A: It is too early to say what specifically may happen with FirstMeritís downtown buildings. Huntington officials said they are committed to maintaining a presence in downtown but have not made any facility decisions. Huntington will assess the properties and see what makes the most sense.
Q: Do shareholders of both companies need to approve the deal?
A: There isnít an explicit timeline for approval, but, yes, the transaction needs to be approved by regulators and both sets of shareholders. Huntington officials anticipate that being completed within the third quarter of this year.
Betty Lin-Fisher can be reached at 330-996-3724 or firstname.lastname@example.org. Follow her @blinfisherABJ on Twitter or www.facebook.com/BettyLinFisherABJ and see all her stories at www.ohio.com/betty.