Related Party Transactions

6 Months Ended

Jun. 30, 2013

Related Party Transactions

Related Party Transactions Disclosure [Text Block]

16. Related Party Transactions

The Bancorp's ownership position in Vantiv Holding, LLC was reduced in the second quarter of 2013 when the Bancorp sold an approximate five percent interest and recognized a $242 million gain. The Bancorp's remaining approximate 28% ownership in Vantiv Holding, LLCwasaccounted for as an equity method investment in the Bancorp's Condensed Consolidated Financial Statements and had a carrying value of $448 million as of June 30, 2013.

As of June 30, 2013, the Bancorp continued to hold approximately 53.8million Class B units of Vantiv Holding, LLC and a warrant to purchase approximately 20.4 million Class C non-voting units of Vantiv Holding, LLC, both of which may be exchanged for Class A Common Stock of Vantiv, Inc. on a one for one basis or at Vantiv, Inc.'s option for cash. In addition, the Bancorp holds approximately 53.8million Class B common shares of Vantiv, Inc. The Class B common shares give the Bancorp voting rights, but no economic interest in Vantiv, Inc. The voting rights attributable to the Class B common shares are limited to 18.5% of the voting power in Vantiv, Inc. at any time other than in connection with a stockholder vote with respect to a change in control in Vantiv, Inc. These securities are subject to certain terms and restrictions.

Subsequent to June 30, 2013, the Bancorp sold additional shares of Vantiv, Inc. For additional information, see Note 22.