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Subsequent Event
6 Months Ended
Jun. 30, 2014
Subsequent Events  
Subsequent Event

23. Subsequent Event

On July 21, 2014, the Bancorp entered into an accelerated share repurchase transaction with a counterparty pursuant to which the Bancorp purchased 9,352,078 shares, or approximately $225 million, of its outstanding common stock on July 24, 2014. As part of this transaction, the Bancorp entered into a forward contract in which the final number of shares to be delivered at settlement will be based generally on a discount to the average daily volume weighted average price of the Bancorp's common stock during the term of the repurchase agreement. The Bancorp repurchased the shares of its common stock as part of its Board approved 100 million share repurchase program previously announced on March 18, 2014. The Bancorp expects the settlement of the transaction to occur on or before October 24, 2014.