Subsequent Event

6 Months Ended

Jun. 30, 2011

Subsequent Event [Abstract]

Subsequent Event

22.  Subsequent Event

On July 31, 2011, we announced that we had reached an agreement with First Niagara Bank, N.A. to sell 195 retail branches, including certain loans, deposits and related branch premises, primarily located in upstate New York, for consideration of a premium equal to 6.67 percent of the deposits to be transferred at closing. Based on May 31, 2011 balances, the consideration would represent approximately $1.0 billion. This will result in a gain upon closing of the transaction, net of allocated goodwill. Branch premises will be sold for fair value and loans and other transferred assets will be sold at their book values. The all-cash transaction is expected to close in early 2012, subject to regulatory approvals, including approval by the acquirer’s regulator. The branches held approximately $15.0 billion in deposits and $2.8 billion in loans as of May 31, 2011.