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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2019
Equity [Abstract] |
Shareholders' Equity | NOTE 24 – Shareholders’ Equity Share Repurchase Program We have an ongoing authorization from the Board of Directors to repurchase our common stock in the open market or in negotiated transactions. At September 30, 2019, the maximum number of shares that may yet be purchased under this plan was 5.8 million. The repurchase program has no expiration date. These purchases may be made on the open market or in privately negotiated transactions, depending upon market conditions and other factors. Repurchased shares may be used to meet obligations under our employee benefit plans and for general corporate purposes. During the three months ended September 30, 2019, we repurchased $55.5 million, or 1.0 million shares using existing Board authorizations at an average price of $55.43 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. During the nine months ended September 30, 2019, we repurchased $180.4 million, or 3.3 million shares using existing Board authorizations at an average price of $55.10 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. During the three months ended September 30, 2018, we repurchased $16.6 million, or 0.3 million shares using existing Board authorizations at an average price of $53.93 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. During the nine months ended September 30, 2018, we repurchased $62.5 million, or 1.1 million shares using existing Board authorizations at an average price of $55.66 per share to meet obligations under our company’s employee benefit plans and for general corporate purposes. Issuance of Common Stock During the nine months ended September 30, 2019, we issued 1.4 million shares, which were primarily reissued from treasury. Share issuances were primarily a result of the vesting and conversion transactions under our incentive stock award plans. Issuance of Preferred Stock On February 21, 2019, the Company issued $150.0 million of 6.25% Non-Cumulative Perpetual Preferred Stock, Series B, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 liquidation preference per depositary share). In March 2019, we completed a public offering of an additional $10.0 million of Series B Preferred, pursuant to the over-allotment option. When, as, and if declared by the board of directors of the Company, dividends will be payable at an annual rate of 6.25%, payable quarterly, in arrears. The Company may redeem the Series B preferred stock at its option, subject to regulatory approval, on or after March 15, 2024 or following a regulatory capital treatment event, as defined.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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