Luther Burbank Corporation (LBC) financial statements (2021 and earlier)

Company profile

Business Address 520 THIRD STREET, 4TH FLOOR
SANTA ROSA, CA 95401
State of Incorp. CA
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments10092
Cash and cash equivalents8992
Short-term investments12 
Funds held for clients810
Total current assets:108102
Noncurrent Assets
Property, plant and equipment2021
Intangible assets, net (including goodwill)33
Goodwill33
Total noncurrent assets:2324
Other undisclosed assets6,9156,811
TOTAL ASSETS:7,0466,937
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities6,4316,356
Total liabilities:6,4316,356
Stockholders' equity
Stockholders' equity attributable to parent614581
Common stock448456
Accumulated other comprehensive income (loss)1(5)
Retained earnings165130
Total stockholders' equity:614581
TOTAL LIABILITIES AND EQUITY:7,0466,937

Income statement (P&L) ($ in millions)

12/31/2019
12/31/2018
Revenues252214
Net investment income252214
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(1)(4)
Gross profit:251210
Operating expenses(16)(14)
Operating income:235196
Interest and debt expense(139)(101)
Other undisclosed loss from continuing operations before equity method investments, income taxes(26)(32)
Income from continuing operations before income taxes:6963
Income tax expense(21)(18)
Net income available to common stockholders, diluted:4945

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
Net income:4945
Comprehensive income:4945
Other undisclosed comprehensive income, net of tax, attributable to parent60
Comprehensive income, net of tax, attributable to parent:5545

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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