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FirstMerit Bank Successfully Terminates FDIC Loss Share Agreements

Wednesday, January 25, 2017

Congratulations FirstMerit Bank NA!

Congratulations to FirstMerit Bank NA (FirstMerit) of Akron, Ohio for successfully terminating their FDIC loss share agreements on their two failed bank receiverships:  George Washington Savings Bank and Midwest Bank & Trust Company.

The agreement was reached on January 25 and in the first quarter of 2017, the termination agreement will eliminate from the company’s books the true-up liability and other related receivables for the terminated loss-sharing agreement.

DD&F served as an advisor to FirstMerit in successfully terminating their shared loss agreements with the FDIC and would like to congratulate all of the FirstMerit team. We wish you continued success!

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