Subsequent Events (Notes)

6 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

On July 15, 2014, the Company and Boston Private Bank announced an agreement to acquire substantially all of the assets and certain of the liabilities of Banyan Partners, LLC (“Banyan”). Banyan, a registered investment advisory firm, is headquartered in Palm Beach Gardens, Florida with locations in Boston, New York, Miami, Naples, Atlanta, Wisconsin, Texas and California.

The Company expects to fund the transaction with a mixture of cash on hand and stock issued to the sellers. Banyan will also have the opportunity to receive additional consideration over a two year earn-out period. Under the terms of the agreement, Banyan and the Bank’s wealth management business will be combined into a new subsidiary of the Bank.

The transaction is subject to regulatory approval and certain closing conditions, and is expected to close in the fourth quarter of 2014.