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Subsequent Events
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
NOTE 21. SUBSEQUENT EVENTS
Stock Repurchase Program
On February 14, 2018, PacWest Bancorp’s Board of Directors amended its existing stock repurchase program to increase the authorized repurchase amount to $350 million and extended the expiration date to February 28, 2019. After the amendment on February 14, 2018, the remaining amount that could be used to repurchase shares under the Stock Repurchase Program is $350 million.
Common Stock Dividends
On February 1, 2018, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.50 per common share. The cash dividend is payable on February 28, 2018 to stockholders of record at the close of business on February 20, 2018.
We have evaluated events that have occurred subsequent to December 31, 2017 and have concluded there are no subsequent events that would require recognition in the accompanying consolidated financial statements.