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Share-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Statement of Weighted-Average Assumptions Used and Resulting Weighted-Average Fair Value of Option
The following table presents the weighted-average assumptions used and the resulting weighted-average fair value of an option.
 
 
2014
 
2013
 
2012
Weighted-average risk-free interest rate
2.16
%
 
1.42
%
 
1.15
%
Expected dividend yield
%
 
%
 
%
Weighted-average expected volatility
18.00
%
 
13.77
%
 
17.47
%
Weighted-average expected life (in years)
7.00

 
7.00

 
6.98

Weighted-average fair value of each option granted
$
4.52

 
$
3.17

 
$
3.04

Summary of Stock Option Activity
The following summarizes stock option activity for the year ended December 31, 2014:
 
Number
of Shares
 
Weighted-
average
Exercise
Price
 
Weighted-
average
Remaining
Contractual
Term
in Years
 
Aggregate
Intrinsic
Value
 
(dollars in thousands, except Weighted-average Exercise Price)
Outstanding, January 1, 2014
3,051,939

 
$
12.42

 
 
 
 
Issued
130,978

 
17.78

 
 
 
 
Forfeited
(12,650
)
 
17.72

 
 
 
 
Expired
(2,200
)
 
27.95

 
 
 
 
Outstanding, December 31, 2014
3,168,067

 
$
12.61

 
7.20
 
$
21,735

Exercisable at December 31, 2014
13,683

 
$
16.67

 
2.53
 
$
65

Summary of Non-Vested Options
A summary of the status of the Bancorp’s non-vested options at December 31, 2014 and changes during the year ended December 31, 2014 is as follows:
 
Options
 
Weighted-
average
exercise price
Non-vested at January 1, 2014
3,036,056

 
$
12.42

Granted
130,978

 
17.78

Forfeited
(12,650
)
 
17.72

Non-vested at December 31, 2014
3,154,384

 
12.59

Status of Restricted Stock
The table below presents the status of the restricted stock units at December 31, 2014 and changes during the year ended December 31, 2014:
 
Restricted
Stock Units
 
Weighted-
average grant-
date fair value
Outstanding and unvested at January 1, 2014
675,638

 
$
11.81

Granted
156,624

 
17.65

Vested
(37,857
)
 
10.91

Forfeited
(5,434
)
 
13.87

Outstanding and unvested at December 31, 2014
788,971

 
$
13.00