ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On May 27, 2009, FirstMerit Corporation (the "Company") entered into a
Warrant Repurchase Letter Agreement (the "Repurchase Agreement") with the United
States Department of the Treasury ( the "Treasury") to repurchase a warrant to
purchase 952,260 shares of the Company's common stock, without par value, that
was issued to the Treasury on January 9, 2009 (the "Warrant") in connection with
the Company's sale to the Treasury of 125,000 shares of its Fixed Rate
Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred
Shares"), each without par value and having a liquidation preference of $1,000
per share, for $125.0 million as part of the Treasury's Capital Purchase
Program. Pursuant to the terms of the Repurchase Agreement, the Company
repurchased the Warrant for a purchase price of $5,025,000. The Company
previously repurchased all of the Series A Preferred Shares on April 22, 2009
for $126,163,194, which included all accrued and unpaid dividends. As a result
of the Warrant repurchase, the Company has repurchased all securities issued to
the Treasury under the Capital Purchase Program. A copy of the Repurchase
Agreement is attached as Exhibit 10.1 hereto and is incorporated by reference
herein.
ITEM 8.01 OTHER EVENTS.
On May 27, 2009, the Company issued a press release announcing the repurchase
transaction described above under "ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE
AGREEMENT." A copy of the press release is attached as Exhibit 99.1 hereto and
incorporated by reference herein.
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