Indiana, Pennsylvania-based First Commonwealth Bank, a subsidiary of First Commonwealth Financial, has agreed to acquire 13 branches of FirstMerit Bank in Canton and Ashtabula, Ohio.
Of the branches to be acquired, eleven are located in Canton and comprise $676m of deposits. The remaining two branches with $59m in deposits are located in Ashtabula.
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First Commonwealth said that the acquisition will expand its Ohio footprint by adding nearly 34,000 retail and small business households.
First Commonwealth CEO Michael Price said: "This acquisition is very consistent with our strategy in Ohio and complements our growing business in that region. We have been pleased with our acquisition of First Community Bank in Columbus, and are well prepared for this next measured step in our Ohio expansion."
The branch acquisition is part of the planned $3.4bn acquisition of FirstMerit Corporation by Huntington Bancshares, which was announced in January 2016.
The sale of branches secured the go-ahead from the United States Department of Justice after an anti-trust review.
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