v3.26.1
Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events
NOTE 17.  SUBSEQUENT EVENTS
Common Stock Dividend
On May 8, 2026, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.12 per common share. The cash dividend is payable on July 1, 2026, to stockholders of record at the close of business on June 15, 2026.
Preferred Stock Dividend
On May 8, 2026, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.4845 per Depositary Share. The cash dividend is payable on June 1, 2026 to stockholders of record at the close of business on May 21, 2026.
Subordinated Debt
On May 1, 2026, the Company redeemed all $385 million outstanding aggregate principal amount of its 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031 originally issued by Pacific Western Bank. The remaining unamortized discount and debt issuance costs will be recorded as a loss on redemption of subordinated notes in noninterest income during the second quarter of 2026.
Servicing Asset Sale
On April 22, 2026, the Company entered into an agreement to sell the single-family mortgage servicing rights ("MSR") portfolio with an underlying unpaid principal balance of approximately $1.35 billion. Proceeds from the MSR sale will offset costs from the subordinated debt redeemed on May 1, 2026. This transaction is expected to settle on May 29, 2026.