Welcome to our dedicated page for Luther Burbank news (Ticker: LBC), a resource for investors and traders seeking the latest updates and insights on Luther Burbank stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Luther Burbank's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Luther Burbank's position in the market.
Luther Burbank Corporation (NASDAQ: LBC) reported a net income of $21.0 million, or $0.41 per diluted share, for Q3 2022. Despite challenges from rising interest rates, loan production reached $530.1 million with a 31% increase in the weighted average coupon on loans to 4.65%. The net interest margin decreased to 2.42% due to increased funding costs. However, nonperforming assets remained low at 0.05% and tangible book value per share increased by 3% to $13.18. A dividend of $0.12 per share was declared.
Luther Burbank Corporation (NASDAQ: LBC) announced it will release its financial results for the third quarter and nine months ending September 30, 2022, after market close on October 25, 2022. A conference call led by CEO Simone Lagomarsino and CFO Laura Tarantino is scheduled for October 26, 2022, at 8:00 AM PT to discuss these results. The company, headquartered in Santa Rosa, California, has total assets of $7.5 billion, total loans of $6.6 billion, and total deposits of $5.7 billion as of June 30, 2022.
Luther Burbank Corporation (NASDAQ: LBC) reported a net income of $22.6 million or $0.44 per diluted share for Q2 2022, reflecting a 29% increase in loan production to $733 million. The net interest margin improved to 2.62%, while the tangible book value per share grew to $13.09. The efficiency ratio stood at 27.9%, indicating strong operational efficiency. The company declared a quarterly cash dividend of $0.12 per share.
Despite these positives, nonperforming assets increased slightly to 0.07% of total assets, prompting a $2.5 million provision for loan losses.
Luther Burbank Corporation (NASDAQ: LBC) announced its upcoming financial results for the quarter and six months ended June 30, 2022, scheduled for release after market close on July 26, 2022. A conference call will follow on July 27, 2022, at 8:00 AM (PT), hosted by CEO Simone Lagomarsino and CFO Laura Tarantino. The call is open to analysts, investors, and the public via a registration link. As of March 31, 2022, the company reported total assets of $7.3 billion, total loans of $6.4 billion, and total deposits of $5.6 billion.
Luther Burbank Corporation (LBC) reported a net income of $22.9 million or $0.45 per diluted share for Q1 2022. Key metrics include a net interest margin of 2.54% and a return on average equity of 13.60%. Loan production surged to $568.9 million, with nonperforming assets remaining low at 0.03% of total assets. The company declared a $0.12 dividend per share and continued its stock repurchase program, acquiring shares at an average price of $13.25. Despite a slight decline in net interest income, robust loan origination and efficient operations were highlighted.
Luther Burbank Corporation (NASDAQ: LBC) will announce its financial results for Q1 2022 on April 26, 2022. The earnings call, led by CEO Simone Lagomarsino and CFO Laura Tarantino, will take place on April 27, 2022, at 8 AM PT. Participants can join via phone or a live webcast, which will include a slide presentation. As of December 31, 2021, the company reported total assets of $7.2 billion, loans of $6.3 billion, and deposits of $5.5 billion, operating through its wholly-owned subsidiary, Luther Burbank Savings, across the western U.S.
Luther Burbank Corporation (NASDAQ: LBC) announced that board member Anita Gentle Newcomb received the Auburn Alumni Association's highest honor at the 2022 Lifetime Achievement Awards on February 26. With over 30 years in financial services, she has expertise in corporate development and banking strategies. Ms. Newcomb's past roles include president of A.G. Newcomb & Co. and board member at the Federal Reserve Bank of Richmond. As of December 31, 2021, Luther Burbank reported total assets of $7.2 billion, loans of $6.3 billion, and deposits of $5.5 billion.
Luther Burbank Corporation (NASDAQ: LBC) reported a net income of $23.4 million or $0.45 per diluted share for Q4 2021, slightly down from $24.7 million in Q3 2021. The net interest margin increased to 2.57% from 2.47%, driven by low interest rates and a disciplined growth approach. The company saw a reduction in criticized assets by 21.4% to $16.7 million. Total loans rose to $6.3 billion, up 4.0% year-over-year. A quarterly dividend of $0.12 per share was declared, payable on February 14, 2022.
Luther Burbank Corporation (LBC) will release its financial results for Q4 and full year 2021 on January 25, 2022, post-market. The conference call to discuss these results is scheduled for January 26, 2022, at 8:00 AM PT. CEO Simone Lagomarsino and CFO Laura Tarantino will lead the discussion, open to analysts and the public via phone and webcast. As of September 30, 2021, LBC reported total assets of $7.2 billion, total loans of $6.3 billion, and total deposits of $5.6 billion.
Luther Burbank Corporation (NASDAQ: LBC) announced the appointment of M. Max Yzaguirre to its Board of Directors, effective January 2, 2022. Yzaguirre will also serve on the Audit and Risk Committee, and on the Compensation Committee. His extensive experience spans various sectors, including banking, real estate, and private equity, adding valuable expertise to the Board as the company seeks growth and strategic evolution. Luther Burbank Corporation reported total assets of $7.2 billion as of September 30, 2021, affirming its robust financial standing.
