FirstMerit Corp. Reports 7% Decline In Q4 Bottom Line

(RTTNews) - FirstMerit Corp. (FMER) reported earnings for fourth quarter that dropped from last year.

The company said its earnings totaled $56.75 million, or $0.33 per share. This was lower than $61.08 million, or $0.36 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.34 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.3% to $254.13 million. This was down from $268.45 million last year.

FirstMerit Corp. earnings at a glance:

-Earnings (Q4): $56.75 Mln. vs. $61.08 Mln. last year. -Earnings Decline (Y-o-Y): -7.1% -EPS (Q4): $0.33 vs. $0.36 last year. -EPS Decline (Y-o-Y): -8.3% -Analysts Estimate: $0.34 -Revenue (Q4): $254.13 Mln vs. $268.45 Mln last year. -Revenue Change (Y-o-Y): -5.3%