Luther Burbank Corporation (NasdaqGM: LBC)

About Luther Burbank Corporation

Luther Burbank Corporation (LBC) operates as the parent holding company for Luther Burbank Savings, delivering a comprehensive array of banking products and services. Its diverse clientele includes real estate investors, various professionals, entrepreneurs, general depositors, and commercial businesses. The company's offerings encompass core deposit accounts such as interest and non-interest-bearing transaction accounts, certificates of deposit (CDs), and money market accounts. LBC is also a key provider of loan products. This includes commercial real estate financing, specifically first mortgages for acquiring, refinancing, or funding tenant improvements on investor-owned multifamily residential properties. It further extends loans for purchasing, refinancing, or enhancing office, retail, and light industrial properties. For individual borrowers, single-family residential loans are available, including a distinct portfolio product that pairs a 30-year fixed-rate first mortgage with a forgivable second mortgage. Beyond these, LBC provides modern banking conveniences like ATM and debit cards, along with online and mobile banking platforms. It also offers specialized real estate investment services and engages in the issuance of trust preferred securities. As of December 31, 2021, Luther Burbank Corporation's operational footprint included ten full-service branches in California (across Sonoma, Marin, Santa Clara, and Los Angeles Counties), complemented by six loan production offices throughout the state. Additionally, it maintained one full-service branch in King County, Washington, and a loan production office in Clackamas County, Oregon. Established in 1983, the company's main headquarters are situated in Santa Rosa, California.

ISIN

US5505501073

Founded

1983

Listed since

Dec 8, 2017

Exchange

Nasdaq Global Market

Currency

USD