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Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
NOTE 23. SUBSEQUENT EVENTS
Stock Repurchase Program
On February 24, 2019, effective upon the maturity of the current Stock Repurchase Program on February 28, 2019, PacWest's Board of Directors authorized a new Stock Repurchase Program to purchase shares of its common stock for an aggregate purchase price not to exceed $225 million until February 29, 2020. After the authorization of the new Stock Repurchase Program on February 24, 2019, the amount that could be used to repurchase shares will be $225 million as of March 1, 2019.
Common Stock Dividends
On February 1, 2019, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.60 per common share. The cash dividend is payable on February 28, 2019 to stockholders of record at the close of business on February 20, 2019.
We have evaluated events that have occurred subsequent to December 31, 2018 and have concluded there are no subsequent events that would require recognition in the accompanying consolidated financial statements.