Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Stockholders' Equity Note Disclosure

Shareholders' Equity

Dividends

The following summarizes the dividend activity for the year ended December 31, 2023:

Declared	Regular Cash Dividends Per Common Share		Record Date	Paid Date
January 11, 2023 (1)	$	0.35	January 23, 2023	February 6, 2023
May 15, 2023	$	0.36	May 31, 2023	June 15, 2023
August 14, 2023	$	0.36	August 25, 2023	September 11, 2023
November 13, 2023	$	0.36	November 24, 2023	December 11, 2023

(1) The dividend that was declared and paid prior to the Merger has been restated as a result of the adjustment to common shares outstanding based on the exchange ratio from the Merger of 0.5958.

Subsequent to year end, on February 9, 2024, the Company declared a regular quarterly cash dividend of $0.36 per common share payable on March 11, 2024, to shareholders of record at the close of business on February 23, 2024.

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