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Debt Issuance
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Debt Issuance
Debt Issuance
On May 8, 2017, the Corporation issued $350 million of 3.375% fixed-to-floating rate subordinated notes, due May 8, 2032. The subordinated notes will bear interest from the date they were issued to, but excluding, May 8, 2027, at an annual rate of 3.375%, payable semi-annually in arrears. From, and including, May 8, 2027, the subordinated notes will bear interest at an annual rate equal to three-month LIBOR plus 1.131%, payable quarterly in arrears. The subordinated notes are unsecured and may be redeemed, in whole but not in part, on, and only on, May 8, 2027, at a redemption price equal to 100% of the principal amount of the subordinated notes to be redeemed, plus accrued and unpaid interest, if any, up to but excluding the redemption date.