Shareholders' Equity

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Shareholders' Equity

17. Shareholders’ Equity

Comprehensive Capital Plan

During the first quarter of 2014, we completed $141 million of common share repurchases under our 2013 capital plan, which expired on March 31, 2014. On March 26, 2014, the Federal Reserve announced that it did not object to our 2014 capital plan submitted as part of the annual CCAR process. The 2014 capital plan includes a common share repurchase program of up to $542 million. Share repurchases under the capital plan have been authorized by our Board and include repurchases to offset issuances of common shares under our employee compensation plans. Common share repurchases under the 2014 capital plan, which began April 1, 2014, are expected to be executed through the first quarter of 2015.

Our 2014 capital plan also proposed an increase in our quarterly common share dividend from $.055 to $.065 per share, which will be evaluated by our Board in May.