Luther Burbank Corporation (LBC) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments373810092
Cash and cash equivalents26268992
Short-term investments121212 
Funds held for clients511810
Total current assets:4249108102
Noncurrent Assets
Property, plant and equipment16182021
Intangible assets, net (including goodwill)3333
Goodwill3333
Amortization method qualified affordable housing project investments 2  
Total noncurrent assets:19232324
Other undisclosed assets7,1186,8346,9156,811
TOTAL ASSETS:7,1806,9067,0466,937
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt 5  
Qualified affordable housing project investments, commitment 5  
Total noncurrent liabilities: 5  
Other undisclosed liabilities6,5116,2886,4316,356
Total liabilities:6,5116,2926,4316,356
Stockholders' equity
Stockholders' equity attributable to parent669614614581
Common stock407414448456
Accumulated other comprehensive income (loss)071(5)
Retained earnings262193165130
Total stockholders' equity:669614614581
TOTAL LIABILITIES AND EQUITY:7,1806,9067,0466,937

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues219232252214
Net investment income219232252214
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (11)(1)(4)
Gross profit:219221251210
Operating expenses(12)(12)(16)(14)
Operating income:208209235196
Interest and debt expense(57)(103)(139)(101)
Other undisclosed loss from continuing operations before equity method investments, income taxes (50)(26)(32)
Income from continuing operations before equity method investments, income taxes:150576963
Other undisclosed loss from continuing operations before income taxes(26)   
Income from continuing operations before income taxes:124576963
Income tax expense(36)(17)(21)(18)
Net income available to common stockholders, diluted:88404945

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:88404945
Comprehensive income:88404945
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7)560
Comprehensive income, net of tax, attributable to parent:81455545

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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