Shareholders' Equity

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Dividends:

The following table summarizes year-to-date dividend activity as of September 30, 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
April 30, 2020	$	0.28	$	—	May 14, 2020	May 28, 2020
July 23, 2020	$	0.28	$	—	August 5, 2020	August 19, 2020

Subsequent to quarter end, on October 29, 2020, the Company declared a regular quarterly cash dividend of $0.28 per common share payable on November 25, 2020 to shareholders of record at the close of business on November 11, 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 September 30, 2020, the Company did not purchase any common shares. For the nine months ended September 30, 2020, the Company repurchased 731 thousand shares of common stock at an average price of $27.36 per share. The Company’s share repurchase authorization expired in May of 2020.