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)

12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3810092
Cash and cash equivalents268992
Short-term investments1212 
Funds held for clients11810
Total current assets:49108102
Noncurrent Assets
Property, plant and equipment182021
Intangible assets, net (including goodwill)333
Goodwill333
Amortization method qualified affordable housing project investments2  
Total noncurrent assets:232324
Other undisclosed assets6,8346,9156,811
TOTAL ASSETS:6,9067,0466,937
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt5  
Qualified affordable housing project investments, commitment5  
Total noncurrent liabilities:5  
Other undisclosed liabilities6,2886,4316,356
Total liabilities:6,2926,4316,356
Stockholders' equity
Stockholders' equity attributable to parent614614581
Common stock414448456
Accumulated other comprehensive income (loss)71(5)
Retained earnings193165130
Total stockholders' equity:614614581
TOTAL LIABILITIES AND EQUITY:6,9067,0466,937

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

12/31/2020
12/31/2019
12/31/2018
Revenues232252214
Net investment income232252214
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(11)(1)(4)
Gross profit:221251210
Operating expenses(12)(16)(14)
Operating income:209235196
Interest and debt expense(103)(139)(101)
Other undisclosed loss from continuing operations before equity method investments, income taxes(50)(26)(32)
Income from continuing operations before income taxes:576963
Income tax expense(17)(21)(18)
Net income available to common stockholders, diluted:404945

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
Net income:404945
Comprehensive income:404945
Other undisclosed comprehensive income, net of tax, attributable to parent560
Comprehensive income, net of tax, attributable to parent:455545

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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