Luther Burbank Corporation Reports Earnings for the Quarter Ended March 31, 2023

$LBC
Major Banks
Finance
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Recent Analyst Ratings for
$LBC

DatePrice TargetRatingAnalyst
11/21/2022Mkt Perform → Outperform
Keefe Bruyette
1/27/2022Buy → Neutral
DA Davidson
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$LBC
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  • WaFd, Inc. Receives Regulatory Approval for Acquisition of Luther Burbank Corporation

    SEATTLE, Jan. 30, 2024 (GLOBE NEWSWIRE) -- WaFd, Inc. (NASDAQ:WAFD), the parent company of Washington Federal Bank ("WaFd Bank"), and Luther Burbank Corporation (NASDAQ:LBC, "Luther Burbank"))), the parent company of Luther Burbank Savings, jointly announced today that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for Luther Burbank Savings to be merged with and into Washington Federal Bank, and from the Board of Governors of the Federal Reserve System for Luther Burbank to be merged with and into WaFd, Inc., on the terms and subject to the conditions of the Agreement and Plan of

    $LBC
    $WAFD
    Major Banks
    Finance
  • WaFd, Inc. Receives Regulatory Approval for Acquisition of Luther Burbank Corporation

    WaFd, Inc. (NASDAQ:WAFD), the parent company of Washington Federal Bank ("WaFd Bank"), and Luther Burbank Corporation (NASDAQ:LBC, "Luther Burbank"))), the parent company of Luther Burbank Savings, jointly announced today that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for Luther Burbank Savings to be merged with and into Washington Federal Bank, and from the Board of Governors of the Federal Reserve System for Luther Burbank to be merged with and into WaFd, Inc., on the terms and subject to the conditions of the Agreement and Plan of Reorganization, dated as of November 13, 202

    $LBC
    $WAFD
    Major Banks
    Finance
  • Seasoned Financial Expert Max Yzaguirre Named Strategic Advisor of FireFly Automatix, Leader in AV and EV-Driven Professional Turfgrass Mowing Technology

    -Yzaguirre joins a list of seasoned professionals on FireFly's team with specific expertise in initiating and growing businesses in evolving market conditions- FireFly Automatix, Inc., the de facto industry leader in AV and EV professional turfgrass mowing technology, today announced the appointment of financial and leadership expert M. Max Yzaguirre as a strategic advisor to CEO Andrew Limpert and the board of directors. Yzaguirre's appointment follows the recent additions of former WPP Group CFO Paul Richardson and capital markets professional Liz Hocker to FireFly's board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/202401

    $ARIS
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    $MO
    Oilfield Services/Equipment
    Energy
    Major Banks
    Finance

$LBC
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  • WaFd, Inc. Receives Regulatory Approval for Acquisition of Luther Burbank Corporation

    SEATTLE, Jan. 30, 2024 (GLOBE NEWSWIRE) -- WaFd, Inc. (NASDAQ:WAFD), the parent company of Washington Federal Bank ("WaFd Bank"), and Luther Burbank Corporation (NASDAQ:LBC, "Luther Burbank"))), the parent company of Luther Burbank Savings, jointly announced today that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for Luther Burbank Savings to be merged with and into Washington Federal Bank, and from the Board of Governors of the Federal Reserve System for Luther Burbank to be merged with and into WaFd, Inc., on the terms and subject to the conditions of the Agreement and Plan of

    $LBC
    $WAFD
    Major Banks
    Finance
  • WaFd, Inc. Receives Regulatory Approval for Acquisition of Luther Burbank Corporation

    WaFd, Inc. (NASDAQ:WAFD), the parent company of Washington Federal Bank ("WaFd Bank"), and Luther Burbank Corporation (NASDAQ:LBC, "Luther Burbank"))), the parent company of Luther Burbank Savings, jointly announced today that they received the required regulatory approvals from the Federal Deposit Insurance Corporation and the Washington State Department of Financial Institutions for Luther Burbank Savings to be merged with and into Washington Federal Bank, and from the Board of Governors of the Federal Reserve System for Luther Burbank to be merged with and into WaFd, Inc., on the terms and subject to the conditions of the Agreement and Plan of Reorganization, dated as of November 13, 202

    $LBC
    $WAFD
    Major Banks
    Finance
  • Seasoned Financial Expert Max Yzaguirre Named Strategic Advisor of FireFly Automatix, Leader in AV and EV-Driven Professional Turfgrass Mowing Technology

    -Yzaguirre joins a list of seasoned professionals on FireFly's team with specific expertise in initiating and growing businesses in evolving market conditions- FireFly Automatix, Inc., the de facto industry leader in AV and EV professional turfgrass mowing technology, today announced the appointment of financial and leadership expert M. Max Yzaguirre as a strategic advisor to CEO Andrew Limpert and the board of directors. Yzaguirre's appointment follows the recent additions of former WPP Group CFO Paul Richardson and capital markets professional Liz Hocker to FireFly's board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/202401

    $ARIS
    $LBC
    $MO
    Oilfield Services/Equipment
    Energy
    Major Banks
    Finance

$LBC
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  • Luther Burbank Corporation Reports Earnings for the Quarter and Nine Months Ended September 30, 2023

    Third Quarter 2023 Highlights Net income of $1.9 million and $22.3 million, or $0.04 and $0.44 per diluted share, for the quarter and nine months ended September 30, 2023, respectivelyNet interest margin of 0.97%Return on average assets and equity of 0.09% and 1.09%, respectivelyNoninterest expense to average assets of 0.73%Estimated uninsured deposits remained stable at $1.0 billion, or 17.6% of total depositsDependence on wholesale funds declined to 27.6% (1)Liquidity ratio of 13.8% (1)On-balance sheet liquidity plus borrowing capacity of more than 3 times uninsured depositsNonperforming assets to total assets of 0.08%Tier 1 leverage and total risk-based capital ratios of 9.66% and 20.86%,

    $LBC
    Major Banks
    Finance
  • Luther Burbank Corporation Reports Earnings for the Quarter and Six Months Ended June 30, 2023

    Second Quarter 2023 Highlights Net income of $6.9 million, or $0.14 per diluted shareNet interest margin of 1.27%Return on average assets and equity of 0.33% and 3.94%, respectivelyNoninterest expense to average assets of 0.76%Deposits increased 3% to $5.8 billionEstimated uninsured deposits of $997.8 million, or 17.1% of total depositsOn-balance sheet liquidity plus borrowing capacity of more than 3 times uninsured depositsNonperforming assets to total assets of 0.06%Book value per share of $13.71Tangible book value per share of $13.64 (1)  As of or For the Three Months Ended (2)(Dollars in thousands, except per share amounts)June 30,2023March 31,2023June 30,2022Performance Ratios   Retur

    $LBC
    Major Banks
    Finance
  • Luther Burbank Corporation Reports Earnings for the Quarter Ended March 31, 2023

    First Quarter 2023 Highlights Net income of $13.4 million, or $0.26 per diluted shareNet interest margin of 1.72%Return on average assets and equity of 0.67% and 7.78%, respectivelyNoninterest expense to average assets of 0.84%Deposits declined 3.3% to $5.6 billionEstimated uninsured deposits of $1.0 billion, or 17.9% of total depositsLiquidity ratio increased by 33% to 13.40%(1)Borrowing capacity increased by 34% to $2.3 billionNonperforming assets to total assets of 0.06%Book value per share of $13.64Tangible book value per share of $13.58 (1)  As of or For the Three Months Ended (2)(Dollars in thousands, except per share amounts)March 31,2023December 31,2022March 31,2022Performance Ratios

    $LBC
    Major Banks
    Finance

$LBC
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