Business Combinations

3 Months Ended

Mar. 31, 2013

Business Combinations [Abstract]

Business Combination Disclosure

On September 12, 2012, the Corporation and Citizens Republic Bancorp, Inc. ("Citizens"), a Michigan corporation with approximately $9.6 billion in assets and 219 branches, entered into an Agreement and Plan of Merger (the "Merger Agreement").

On April 12, 2013, the Corporation completed its merger (the "Merger") with Citizens. The results of operations acquired in the Citizens transaction will be included in the Corporation's financial results beginning on April 13, 2013. The Merger will be accounted for using the purchase acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged will be recorded at estimated fair value on the acquisition date. The Corporation is in the process of determining the preliminary fair values which are subject to refinement for up to one year after the closing date of the acquisition as additional information relative to closing date fair values becomes available. Any resulting goodwill will not be deductible for income tax purposes as the acquisition is accounted for as a tax-free exchange for federal income tax purposes. Additional information on the Merger with Citizens can be found in Note 15 (Subsequent Events).