"This is one that will end up buying other banks. I want you to stick with it and buy more. This is the most solid bank in Ohio." "Mad Money Lightning Round," 6-10-09

Cramer said with low interest rates and a new homebuyer tax credit, strong regional banks like FirstMerit (FMER) is a great stock.

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"Stop stressing about the stress tests," said Cramer. The real action, he said, is in the ultra solvent regional names like First Niagara and First Merit (FMER) in Ohio, who Cramer previously recommended. ("Mad Money Recap," 4-24-09)

Strongest regional bank

Investors looking for another local company that fits the bill should consider FirstMerit (FMER), a bank Cramer's highlighted before and perhaps one of the only banks poised to profit from the failure of others. ("Mad Money Recap," 4-22-09)

Cramer: Buy FirstMerit: Jim Cramer says this regional bank could double as it gobbles up good assets from failing banks. Real Money TV viewers get Cramer's videos first and commercial free!
Click here to watch the video.

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Neutral - Price 19.57 on July 23
by Hilliard Lyons

Akron, Ohio-based FirstMerit, a bank holding company, reported 2Q08 EPS of 36 cents, in line with [our] expectations. 2Q net-interest income improved 3.9%, on a 2.3% rise in average earning assets. ...Noninterest expense declined 1%...EPS for calendar year 2007, $1.53; estimate for CY08, $1.53; estimate for CY09, $1.60. Regional banks are trading at an average price/earnings ratio of 10.3 times 2009 estimated consensus earnings. FMER is trading at a premium of 12.2 times [our] '09 estimate...[it may] deserve to trade at a premium -- but it already does, so we view these shares as fairly valued. Market cap: $1.6 billion.