FirstMerit Names President of New Michigan Business

FirstMerit (FMER) in Akron, Ohio, has named a president of its Michigan operations as it prepares to enter the state.

David Lochner will become president of FirstMerit Michigan, pending the completion FirstMerit's purchase of Citizens Republic Bancorp (CRBC), the company said Monday. Lochner will oversee the bank's commercial banking in Michigan and will report to Executive Vice President and Chief Commercial Banking Officer David Goodall.

The $14.9 billion-asset FirstMerit is set to enter Michigan and Wisconsin through its acquisition of Citizens Republic. The deal was announced in September but has yet to close. In connection with this deal, last month FirstMerit said it would raise $350 million to redeem Citizens Republic's $347 million of outstanding Troubled Asset Relief Program shares.

Lochner had been RBS Citizens' director of commercial banking for Michigan. Previously, he had worked at LaSalle Bank Midwest and the National Bank of Detroit.

"With a career of nearly 30 years in commercial banking in Michigan, David offers a strong local leadership perspective as we bring the FirstMerit name to Michigan," said Goodall in the news release. "His leadership skills, knowledge of the Michigan market and familiarity with business owners across the state will give us a great advantage as we grow our commercial banking franchise."

FirstMerit tapped another veteran of RBS Citizens and the National Bank of Detroit to lead its Michigan operations last month, naming longtime Detroit banker Sandra Pierce chairman and chief executive of FirstMerit Michigan.