Shareholders' Equity

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Dividends:

The following table summarizes year-to-date dividend activity as of March 31, 2020:

Declared	Regular Cash Dividends Per Common Share		Special Cash Dividends Per Common Share		Record Date	Paid Date
January 23, 2020	$	0.28	$	0.22	February 5, 2020	February 19, 2020

Subsequent to quarter end, on April 30, 2020, the Company declared a regular quarterly cash dividend of $0.28 per common share payable on May 28, 2020 to shareholders of record at the close of business on May 14, 2020.

The payment of cash dividends is subject to federal regulatory requirements for capital levels and other restrictions. In addition, the cash dividends paid by Columbia Bank to the Company are subject to both federal and state regulatory requirements.

Share Repurchase Program:

For the three months ended March 31, 2020, the Company repurchased 731 thousand shares of common stock at an average price of $27.36 per share, respectively. As of March 31, 2020, there are 717 thousand remaining shares authorized to be repurchased under the current Board approved share repurchase program. The amount of shares that we can repurchase is limited in the aggregate to the $100.0 million purchase price per the repurchase program.