Luther Burbank Corporation

Detailed Description

Luther Burbank Corporation operates as the bank holding company for Luther Burbank Savings that provides various banking products and services for real estate investors, professionals, entrepreneurs, high net worth individuals, depositors, and commercial businesses. The company offers interest and noninterest-bearing transaction accounts, certificates of deposit, and money market accounts. It also provides commercial real estate loans, including first mortgage loans for the purchase, refinance, or build-out of tenant improvements on investor owned multifamily residential properties, as well as loans for the purchase, refinance, or improvement of office, retail, and light industrial properties; single family residential loans; and mortgage products, such as a portfolio of 30-year fixed rate first mortgage and a forgivable second mortgage. In addition, the company offers ATM, debit cards, and online and mobile banking services; engages in the real estate investment; and issues trust preferred securities. As of December 31, 2020, it had operations in California, Oregon, and Washington through 10 branches in California; 1 branch in Washington; and 7 lending offices located throughout the market area, including Santa Rosa, Los Angeles, San Francisco, San Jose, San Diego, and Seattle. The company was founded in 1983 and is headquartered in Santa Rosa, California.