Summary
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, 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 a portfolio of 30-year fixed rate first mortgage and a forgivable second mortgage. In addition, the company offers ATM, debit cards, online and mobile banking, and real estate investment services; and issues trust preferred securities. As of December 31, 2021, it operated ten full service branches in California located in Sonoma, Marin, Santa Clara, and Los Angeles Counties; one full service branch in Washington located in King County; six loan production offices located throughout California; and a loan production office in Clackamas County, Oregon. Luther Burbank Corporation was founded in 1983 and is headquartered in Santa Rosa, California.
History
Luther Burbank Corporation traces its origins to 1939 when Luther Burbank Federal Savings & Loan Association opened its doors in Santa Rosa, California. In 1982, Luther Burbank Federal Savings & Loan Association became a mutual savings bank and changed its name to Luther Burbank Savings & Loan Association. In 2003, Luther Burbank Savings & Loan Association converted to a publicly held savings and loan holding company named Home Federal Bancorp, Inc. of Georgia and forged a strategic affiliation with the Georgia-based banking group. In 2009, Home Federal Bancorp changed its name to Luther Burbank Corporation.
Mission
Luther Burbank Corporation strives to maintain and strengthen our banking relationships and to provide an extensive portfolio of banking, mortgage, and related financial services to meet the needs of our customers.
Vision
Luther Burbank Corporation aspires to become the premier financial services provider in our markets, providing excellent customer service, innovative products and solutions to our customers, and long-term value for our investors.
Key Team
Mr. Bradley S. Satenberg (CFO of Luther Burbank Savings & Head of Investor Relations)
Mr. Greg Loren Smith (Sr. VP, Gen. Counsel & Corp. Sec.)
Ms. Tammy Mahoney (Exec. VP & Chief Risk Officer)
Ms. Lisa Kepler (Sr. VP & Director of Single Family Residential Lending)
Mr. William D. Fanter (Exec. VP & Head of Retail Banking)
Mr. Alexander L. Stefani (Exec. VP & Chief Credit Officer)
Recognition and Awards
Luther Burbank Corporation has been presented with numerous awards including the Bauer Five Star Rating for outstanding financial strength and stability, and the U.S. Small Business Administration’s leading lender in the region from 2007-2013.
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