This Akron, Ohio, bank, the state’s fourth largest, holds $11.1 billion in deposits across 160 branches. Aside of the previously mentioned facts and figures, why does Cramer like it so much? Sure, there’s great management and a dividend that pays you to wait for the economy’s turn, but it’s FirstMerit’s weak competition that makes the stock so enticing. PNC Financial, KeyCorp, Huntington Bancshares and Fifth Third all have problems for one reason or another. That puts FMER in perfect position to snatch up market share.

Headquarters in my hometown and I know several people that work there

"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!
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