Shareholders' Equity

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

Shareholders’ Equity

Dividends.

The following summarizes the dividend activity for the year ended December 31, 2019:



Declared	Regular Cash Dividends Per Common Share		Special Cash Dividends Per Common Share		Record Date	Paid Date
January 24, 2019	$	0.28	$	0.14	February 6, 2019	February 20, 2019
April 25, 2019	$	0.28	$	0.14	May 8, 2019	May 22, 2019
July 25, 2019	$	0.28	$	—	August 7, 2019	August 21, 2019
October 24, 2019	$	0.28	$	—	November 6, 2019	November 20, 2019

Subsequent to year end, on January 23, 2020, the Company declared a regular quarterly cash dividend of $0.28 per common share and a special cash dividend of $0.22 per commons share payable on February 19, 2020, to shareholders of record at the close of business on February 5, 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 year ended December 31, 2019, the Company repurchased 1.5 million shares of common stock at an average price of $35.00 per share. As of December 31, 2019, there are 1.4 million remaining shares authorized to be repurchased under the current Board approved share repurchase program.