Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

NOTE 24. SUBSEQUENT EVENTS

Stock Repurchase Programs

On February 12, 2020, 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 $200 million until February 28, 2021, effective upon the maturity of the current Stock Repurchase Program on February 29, 2020. After the authorization of the new Stock Repurchase Program, the amount that could be used to repurchase shares will be $200 million as of March 1, 2020.

Common Stock Dividends

On February 3, 2020, 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, 2020 to stockholders of record at the close of business on February 20, 2020.

We have evaluated events that have occurred subsequent to December 31, 2019 and have concluded there are no subsequent events that would require recognition in the accompanying consolidated financial statements.