Relationship banking is the foundation of FirstMerit’s success.

We regard our customers as valued long-term assets, in which we make ongoing investments. These investments take many forms - employee service training, product development, and implementation of the best technology. The more customer needs we satisfy, the higher our revenue growth and profitability. During 1999, we provided customers who were with us prior to our most recent acquisition with an average of 2.52 FirstMerit services, up 3.7% from 2.43 in 1998. This growth is reflected in increased household profitability. As a result, total other non-interest income in 1999 increased $14.6 million, or 10.4% over 1998.

The FirstMerit employee is the hallmark of our success.

Building business through referrals
With the goal of combining value and efficiency with the highest level of service, FirstMerit remains committed to increased product sales by fostering cooperation between our business units. The results are impressive. Last year, we closed over 68,000 transactions that were referred by employees, nearly double the amount we did in 1998. Over 6,000 of these were high margin, highly profitable transactions in areas such as trust, commercial loans, insurance, and investments. FirstMerit is increasingly becoming our customers’ single source for financial planning and execution - a major factor supporting our growth and profitability.

John R. Cochran (right)
Chairman & Chief Executive Officer
Sid A. Bostic (left)
President & Chief Operating Officer

1999 Performance Highlights

• Long-term customers use 2.52 services, up 3.7% from 1998

• Closed over 68,000 referrals generated by employees, double 1998 results