Huntington Bank anticipates it will occupy all three former Akron FirstMerit office buildings and surpass promised employment numbers from its merger agreement, the bank’s Akron regional president said Wednesday.
The comments about the future of the former FirstMerit Tower and the Cascade III building, both in downtown Akron, were the first by a Huntington official confirming that the bank anticipates staying put in the former downtown headquarters for FirstMerit.
In a telephone interview, Nick Browning said while there will be some employment numbers that “drop to a degree” since the August acquisition of FirstMerit by Huntington, “we fully expect to be back to 1,200 by the end of 2017, and we believe we could be as high as 1,500 by the end of 2018.”
Browning, who was made available for an interview after Huntington’s quarterly earnings call, said he’s pleased that “we are not just holding the employment level we are at, but looking to build this out.”
As part of its merger agreement, Huntington had agreed to employ the same number of people in Akron as at the time of the merger within two years. The bank also agreed to build an operations center in Akron, as part of the agreement.
Akron is also one of 14 regional headquarters for the Columbus-based bank, Browning said.
Browning did acknowledge that since Akron is no longer the corporate headquarters for the bank, there are not as many corporate jobs in Akron and some have been moved to Columbus.
New jobs that will be added in Akron will include call-center jobs, but there will also be other departments built up, such as compliance, “which are attractive jobs in the area of technology,” said Browning. “Those are well-paying jobs... these are not going to be 1,200 call-center jobs.”
Before the merger, FirstMerit already operated an operations center at its facility on Opportunity Parkway, just outside downtown Akron, and that operations center will grow, Browning said.
Huntington owns all three buildings in Akron — the downtown Akron tower, the Cascade III building and the Opportunity Parkway building, but has a long-term land lease with the city of Akron since the Cascade III building is constructed on a city-owned parking deck, he said.
Plans to convert FirstMerit branches will be carried out over the Presidents Day weekend, reopening Feb. 21 as Huntington. The bank will also close previously announced branches for both brands on Feb. 17. The bank is closing 107 branches in five states and 20 in the Akron area. A date for the conversion of the FirstMerit name to Huntington on the downtown Akron tower has not yet been determined, a company spokesman said.
Additionally, Browning said the Huntington-Akron Foundation, which was established in the merger and will be funded with $2 million a year for 10 years, is continuing to review Akron area grant applications. Two grants totaling $310,000 have already been made to the Battered Women’s Shelter and the city of Akron for the next phase in a downtown Akron redevelopment plan. Another $310,000 worth of grants is now being considered, Browning said.
The foundation has also established the Huntington-Akron Foundation Sustainability Fund at the Akron Community Foundation to set aside $200,000 of the yearly $2 million for 10 years.
“That way, at the end of 10 years, you’re not out of money” and the sustainability fund can then grow and perhaps help investments that were made within the 10 years, Browning said.
John Petures, CEO of the Akron Community Foundation, said the creation of the new donor-advised fund will have “great impact” at the end of the decade, especially since it will “grow over a decade.” Petures said FirstMerit and now Huntington have been the custodial bank for the foundation’s nearly $200 million in funds, so establishing a fund recognizes “we’re a good partner of yours, but we recognize you’re in the business of giving away money.”
Betty Lin-Fisher can be reached at 330-996-3724 or blinfisher@thebeaconjournal.com.