Richard F. Chormann knew that size would be an issue for First of America Bank Corp. from the moment he took over as chairman of the $22 billion-asset company in 1996.

The choices were clear, he said in a recent interview: Boost the bank's stock price and make a big acquisition, or sell out at a high price.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.