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Subsequent Events Subsequent Events
6 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events
SUBSEQUENT EVENTS
On July 15, 2014, the Corporation exercised its option to redeem, at par, $150 million of 8.375% subordinated notes. The notes were recorded at a carrying value of $182 million at June 30, 2014, which will result in a pretax gain in the third quarter 2014 of approximately $32 million, primarily from the recognition of the unamortized value of a related, previously terminated interest rate swap.
On July 22, 2014, the Corporation issued $250 million of 3.80% subordinated notes due July 22, 2026. The notes are not redeemable prior to maturity. Proceeds will be used for general corporate purposes.