FirstMerit (FMER) of Akron, Ohio, seeks to raise as much as $350 million in connection with its deal for Citizens Republic Bancorp (CRBC).

It plans to use the funds to repurchase the shares that Citizens Republic issued to the U.S. Treasury as part of the Troubled Asset Relief Program. FirstMerit agreed to buy Citizens Republic in September and said it would repay the seller's Tarp funds.

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