FirstMerit Bank

Report Card
A
Overall Grade
A-
Mortgages Grade
B
Credit Cards Grade
C
Bank Account Services Grade
FirstMerit Bank is rated overall in the top 95 percentile (out of 100) based on 186 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits9.5
Complaints Resolved in a Timely Manner99.5%
Resolutions Disputed by Customer21.5%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationFirstmerit Corporation
EstablishedOctober, 1890
FDIC InsuredJanuary, 1934
FDIC Certificate #013675
Number of Branches391
Total Assets$24.6 Million (41st)
Total Deposits$19.5 Million (40th)
Total Equity$2.9 Million (43rd)
Quartarly Net Income$67.4 Thousand (35th)

Contact Information

Corporate Headquarters
106 South Main Street
Akron, OH 44308
United Statesflag
Website
www.firstmerit.com
Data Summary
FirstMerit Bank logo

Grade Summary

Overall, FirstMerit Bank received a grade of "A" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. FirstMerit Bank is rated "A-" in Mortgages, "B" in Credit Cards, "C" in Bank Account Services, and "A" in Consumer Loans. Click on any of the financial products to see how FirstMerit Bank compares.

Overview

FirstMerit Bank has received 186 consumer complaints since December, 2011 – more than 95% of other banks.

Of those complaints, 99.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' FirstMerit Bank meets the 60-day response deadline more frequently than 57.9% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 21.5% of customers dispute FirstMerit Bank's response to complaints — worse than 64.5% of other companies.

Most of FirstMerit Bank's customers complain about bank account or services with the primary issue being "account opening, closing, or management."

FirstMerit Bank is primarily a commercial bank with a commercial lending specialization. FirstMerit Bank is based in Akron, Ohio and is the 41st largest FDIC insured bank in America.

Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.

However, even after adjusting for bank size and number of customers, FirstMerit Bank receives far more complaints than most other banks. FirstMerit Bank recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.

Corporate Headquarters
Complaints by Product
Complaints by State
Complaints Against FirstMerit Bank
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Bank account or serviceChecking accountAccount opening, closing, or management35
2Bank account or serviceChecking accountProblems caused by my funds being low27
3Bank account or serviceChecking accountDeposits and withdrawals26
4MortgageOther mortgageLoan modification,collection,foreclosure13
5Bank account or serviceOther bank product/serviceAccount opening, closing, or management11
6MortgageOther mortgageLoan servicing, payments, escrow account11
7Bank account or serviceChecking accountUsing a debit or ATM card8
8Consumer loanVehicle loanManaging the loan or lease8
9MortgageConventional fixed mortgageLoan servicing, payments, escrow account7
10MortgageHome equity loan or line of creditLoan modification,collection,foreclosure6
Responses From FirstMerit Bank
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation163162 (99.4%)42 (25.8%)
2Closed with monetary relief3535 (100%)4 (11.4%)
3Closed55 (100%)1 (20%)
4Closed without relief44 (100%)1 (25%)
5Closed with relief44 (100%)0 (0%)
6In progress33 (100%)0 (0%)
7Closed with non-monetary relief11 (100%)0 (0%)
Complaints over the Past Year