Stockholders' Equity

12 Months Ended

Dec. 31, 2021

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

NOTE 21. STOCKHOLDERS' EQUITY

Common Stock Repurchased

The Company's common stock repurchased consisted of: (1) restricted stock surrendered as treasury shares and (2) stock purchased under the Company's Stock Repurchase Programs and retired.

Treasury Shares

As a Delaware corporation, the Company records treasury shares for shares surrendered to the Company resulting from statutory payroll tax obligations arising from the vesting of restricted stock.

The following table shows the dollar amount of shares surrendered, shares surrendered, and weighted average price per share for restricted stock surrendered as treasury shares for the years indicated:

	Year Ended December 31,
Restricted Stock Surrendered as Treasury Shares	2021		2020		2019
Dollar amount of shares surrendered (in thousands)	$	8,505	$	5,369	$	8,449
Number of shares surrendered	199,018		213,578		218,531
Weighted average price per share	$	42.73	$	25.14	$	38.66

Stock Repurchase Programs

The Stock Repurchase Program was initially authorized by PacWest's Board of Directors on October 17, 2016. 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, effective February 29, 2020. No shares were repurchased under the new Stock Repurchase Program prior to expiration on February 28, 2021.

The following table shows the repurchase amounts, shares repurchased, and weighted average price per share for stock repurchases under the various Stock Repurchase Programs for the years indicated:

	Year Ended December 31,
Stock Repurchases Under Stock Repurchase Programs	2021		2020		2019
Dollar amount of repurchases (in thousands)	$	—	$	70,000	$	154,516
Number of shares repurchased	—		1,953,711		3,987,945
Weighted average price per share	$	—	$	35.83	$	38.75