Market Overview

Luther Burbank Corporation Reports Earnings for the Quarter and Six Months Ended June 30, 2018

Share:

SANTA ROSA, Calif., July 26, 2018 (GLOBE NEWSWIRE) -- Luther Burbank Corporation (NASDAQ:LBC) (the "Company"), the holding company for Luther Burbank Savings (the "Bank"), today reported net income available to common shareholders of $11.2 million and $22.3 million, or $0.20 and $0.39 diluted earnings per common share ("EPS"), for the three and six months ended June 30, 2018, respectively, compared to net income available to common shareholders of $18.9 million and $31.2 million, or $0.45 and $0.74 EPS, for the same periods last year. Pre-tax, pre-provision earnings and pro-forma EPS for the three and six months ended June 30, 2018 were $17.1 million and $33.8 million, respectively, and $0.20 and $0.39, respectively, compared to $13.1 million and $26.1 million, respectively, and $0.27 and $0.45, respectively, for the same periods last year.

Pre-tax, pre-provision earnings and pro-forma EPS, both non-GAAP financial measures, are presented because management believes these financial metrics provide stockholders with useful information for evaluating the profitability of the Company.  In addition, management believes it enhances the comparability of the Company's financial results by eliminating the tax differences associated with the Company's change in tax status from S-corporation to a C-corporation.  The Company revoked its S-corporation status in December 2017.  A schedule reconciling our GAAP net income to pre-tax, pre-provision earnings and pro-forma EPS are provided in the tables below.

John G. Biggs, President and Chief Executive Officer, stated, "I'm proud to announce our financial results for the second quarter, which continue to reflect positive trends in connection with our loan and deposit growth.  Loans finished the quarter at over $5.7 billion, increasing by $693 million, or 14%, since the beginning of the year, while deposits completed the quarter at $4.6 billion, increasing by $641 million, or 16%, since December 31, 2017.  As a result of our strong loan growth, net interest income increased by over 2% and 12% during the current quarter as compared to the linked quarter and the same period in 2017, respectively. With an efficiency ratio of 47%, we remain one of the most efficient banks compared to our industry peers."

Mr. Biggs continued, "The successful opening of our new branch in Bellevue, Washington during the second quarter is an integral part of our strategic growth initiative and will further enable us to expand the reach of our unique franchise and product offerings."

Board Declares Quarterly Cash Dividend of $0.0575 Per Share

On July 26, 2018, the Board of Directors of the Company declared a quarterly cash dividend of $0.0575 per common share.  The dividend is payable on August 16, 2018 to shareholders of record as of August 6, 2018.

Net Interest Income

Net interest income for the quarter ended June 30, 2018 totaled $31.2 million compared to $30.5 million for the previous quarter and $27.7 million for the same period last year. The $694 thousand, or 2.3%, increase in net interest income from the prior quarter was primarily related to growth in the average balance and yield of our loan portfolio, which increased by $390.9 million and 9 basis points. These increases were partially offset by growth in the average balance of our deposits and FHLB advances, which increased by $269.0 million and $194.2 million, respectively, as well as increases in both costs of funds, which increased by 17 and 36 basis points, respectively.  The $3.4 million, or 12.4%, increase in net interest income over the same period last year was primarily related to growth in the average balance and yield of our loan portfolio. During the quarter ended June 30, 2018, the average balance in loans increased by $668.8 million and the yield increased by 33 basis points, compared to the same period last year.  This increase was partially offset by growth in the average balance of our deposits of $648.8 million and increases in the cost of funds in connection with deposits and FHLB advances of 36 and 82 basis points, respectively.  Net interest margin for the quarter ended June 30, 2018 was 2.00%, compared to 2.11% for the previous quarter and 2.03% for the same period last year. The 11 basis point decline in net interest margin from the previous quarter primarily relates to a 21 basis point increase in our cost of funds as a result of rising interest rates, as well as non-recurring additional interest income recognized during the linked quarter of $269 thousand related to the recovery of interest income on two nonaccrual loans that paid off during that quarter.

Net interest income for the six months ended June 30, 2018 totaled $61.6 million compared to $54.6 million for the same period last year. The $7.0 million, or 12.9%, increase in net interest income over the same period last year was primarily related to growth in the average balance and yield of our loan portfolio.  During the six months ended June 30, 2018, the average balance in loans increased by $628.1 million and the yield increased by 27 basis points, compared to the same period last year.  This increase was partially offset by growth in the average balance of our deposits of $594.5 million and an increase in the cost of funds in connection with our deposits and FHLB advances of 30 and 71 basis points, respectively.  Net interest margin for the six months ended June 30, 2018 was 2.05% as compared to 2.11% for the three months ended March 31, 2018, a 6 basis point contraction.  Net interest margin was 2.07% for the six months ended June 30, 2017.

Noninterest Income

Noninterest income for the quarter ended June 30, 2018 totaled $817 thousand, compared to $1.0 million for the previous quarter and $201 thousand for the same period last year. The reduction of $208 thousand in noninterest income, or 20.3%, for the quarter ended June 30, 2018 compared to the linked quarter ended March 31, 2018, was attributable to a decrease of $131 thousand in other fee income primarily related to the increase in amortization of mortgage servicing rights caused by changing prepayment speeds. The increase of $616 thousand in noninterest income, or 306.5%, for the quarter ended June 30, 2018 compared to the quarter ended June 30, 2017, was primarily attributable to fair value adjustments recorded on loans transferred to held for sale at June 30, 2017 in connection with the Company's securitization completed in September 2017.

Noninterest income for the six months ended June 30, 2018 totaled $1.8 million, compared to $1.1 million for the six months ended June 30, 2017. The increase, as compared to the same period last year, of $759 thousand, or 70.1%, was primarily attributable to the fair value adjustments discussed above in connection with the securitization.

Noninterest income primarily consists of FHLB stock dividends, fee income and the financial impact related to loans sold and loans held for sale.

Noninterest Expense

Noninterest expense for the quarter ended June 30, 2018 totaled $14.9 million compared to $14.7 million for the previous quarter and $14.8 million for the same period last year.  Compared to the linked quarter, noninterest expense increased $209 thousand, or 1.4%, during the quarter ended June 30, 2018. Compared to the same period last year, noninterest expense increased $82 thousand, or 0.6%, during the quarter ended June 30, 2018.  Noninterest expense for the six months ended June 30, 2018 totaled $29.6 million compared to $29.5 million for the same period last year, an increase of $93 thousand, or 0.3%.

Noninterest expense primarily consists of compensation costs, as well as expenses incurred related to occupancy, depreciation and amortization, data processing, advertising and professional services.

Balance Sheet Summary

Total assets at June 30, 2018 were $6.5 billion, an increase of $805.9 million from December 31, 2017.  The increase was primarily due to a $693.4 million, or 13.8%, increase in loans and a $79.7 million increase in available for sale investment securities.  Total liabilities at June 30, 2018 and December 31, 2017 were $5.9 billion and $5.2 billion, respectively.  The increase of $793.4 million, or 15.4%, was primarily attributable to growth in our deposits and FHLB advances.  Deposits increased by $640.9 million, or 16.2%, while FHLB advances increased $161.5 million, or 16.3%, compared to December 31, 2017.

Loans

Total loans at June 30, 2018 were $5.7 billion, an increase of $693.4 million from December 31, 2017.  The increase was primarily attributable to originations of multifamily and single family residential loans.  Our loan portfolio generally consists of income property loans (IPL) and single family residential (SFR) mortgage loans, which represents 61.1% and 38.3%, respectively, of our total loan portfolio.

Our IPL portfolio primarily consists of hybrid multifamily residential and commercial real estate loans.  IPL loans totaled $3.5 billion at June 30, 2018 compared to $3.0 billion at December 31, 2017. The yield on the IPL portfolio was 3.82% and 3.79%, respectively, during the three and six months ended June 30, 2018, compared to 3.47% and 3.48%, respectively, during the same periods last year.  For the quarter and six months ended June 30, 2018, IPL loan originations and the corresponding weighted average coupon totaled $382.3 million and $644.8 million, respectively, and 4.55% and 4.46%, respectively, compared to $277.9 million and $704.8 million, respectively, and 4.06% and 3.97%, respectively, for the same periods last year.  The increasing yield was caused by both a general rise in interest rates and a greater proportion of loans originated in extended and non-core geographies as compared to the prior fiscal year.  Prepayment speeds within the IPL loan portfolio were 6.8% and 6.0%, respectively, for the three and six months ended June 30, 2018, compared to 8.9% and 12.1%, respectively, during the same periods last year.

Our SFR loan portfolio generally consists of hybrid loans.  SFR loans totaled $2.2 billion and $2.0 billion at June 30, 2018 and December 31, 2017, respectively. The yield on the SFR portfolio was 3.50% and 3.42%, respectively, during the three and six months ended June 30, 2018, compared to 3.19% and 3.20%, respectively, during the same periods last year.  For the quarter and six months ended June 30, 2018, residential loan originations and the corresponding weighted average coupon totaled $252.6 million and $467.8 million, respectively, and 4.78% and 4.55%, respectively, compared to $188.4 million and $312.3 million, respectively, and 4.01% and 3.99%, respectively, for the same periods last year. The increase in SFR originations was primarily attributable to a general increase in customer demand while the increasing yield was caused by a combination of rising interest rates and a greater percentage of niche product origination.  Prepayment speeds within the SFR loan portfolio were 22.0% and 23.0% during the three and six months ended June 30, 2018, respectively, compared to 25.6% and 25.5%, respectively, during the same periods last year.

Asset Quality

Nonperforming loans totaled $4.8 million, or 0.08% of total loans, at June 30, 2018, compared to $7.0 million, or 0.14% of total loans, at December 31, 2017.  There was no real estate owned at June 30, 2018 or December 31, 2017.  For the quarter and six months ended June 30, 2018, loan loss provisions of $1.3 million and $2.8 million, respectively, were recorded compared to $1.5 million in the prior quarter and reversals of provision for loan losses of $6.5 million and $6.2 million, respectively, during the same periods last year.

Deposits

Deposits totaled $4.6 billion at June 30, 2018, an increase of $640.9 million from December 31, 2017. Retail deposits represented 55.7% of the growth, or $356.7 million, while wholesale deposits represented 44.3%, or $284.2 million.  Our cost of deposits was 1.36% and 1.28%, respectively, during the quarter and six months ended June 30, 2018 compared to 1.19% during the prior quarter and 1.00% and 0.98%, respectively, during the same periods last year.  The change in our cost of deposits was primarily related to increases in our time deposit portfolio.  Time deposit rates increased to 1.65% and 1.56%, respectively, during the three and six months ended June 30, 2018, compared to 1.21% and 1.19%, respectively, for the same periods last year. The increase in CD rates was primarily due to rising interest rates, as well as competitive pricing pressures.

Capital

Stockholders' equity totaled $562.2 million, an increase of $12.4 million, or 2.3%, compared to December 31, 2017. Stockholders' equity represented 8.6% of total assets at June 30, 2018, compared to 9.6% at December 31, 2017.  Both the Bank's and the Company's capital levels continue to be significantly above the minimum levels required to be designated as "well-capitalized" for bank regulatory purposes. At June 30, 2018, Tier 1 leverage, Common Equity Tier 1 risk based, Tier 1 risk-based and Total risk-based capital ratios were 11.23%, 18.52%, 18.52% and 19.44%, respectively, for the Bank, and 9.93%, 14.78%, 16.39% and 17.31%, respectively, for the Company. At June 30, 2018, the Company's tangible stockholders' equity ratio was 8.59%.

About Luther Burbank Corporation

Luther Burbank Corporation is a publicly owned company traded on the NASDAQ Capital Market under the symbol "LBC." The Company is headquartered in Santa Rosa, California with total assets of $6.5 billion, total loans of $5.7 billion and total deposits of $4.6 billion as of June 30, 2018. It operates primarily through its wholly-owned subsidiary, Luther Burbank Savings, an FDIC insured, California-chartered bank. Luther Burbank Savings executes on its mission to improve the financial future of customers, employees and shareholders by providing personal banking and business banking services. It offers consumers a host of highly competitive depository and mortgage products coupled with personalized attention. Business customers benefit from boutique-quality service along with access to products which meet their unique financial needs from the convenience of online and mobile banking, robust cash management solutions, and high-yield liquidity management products to multifamily and commercial lending. Currently operating in California, Oregon and Washington, from nine branches in California, one branch in Washington and nine lending offices located throughout the market area, Luther Burbank Savings is an equal housing lender. For additional information, please visit lutherburbanksavings.com.

Cautionary Statements Regarding Forward-Looking Information

This communication contains a number of forward-looking statements, which involve a number of risks and uncertainties. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not a guarantee of future performance and that actual results may prove to be materially different from the results expressed or implied by the forward-looking statements due to a number of factors. Such factors include, without limitation, those listed from time to time in reports that the Company files with the Securities and Exchange Commission, including, but not limited to, the "Risk Factors" referenced in our Annual Report on Form 10-K for the year ended December 31, 2017. These forward-looking statements are made as of the date of this communication, and the Company does not intend, and assumes no obligation, to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events or circumstances, except as required by law.

(tables to follow)

CONSOLIDATED BALANCE SHEETS          
           
(Dollars in thousands) June 30,
 2018
(unaudited)
  December 31,
 2017
  June 30,
 2017
(unaudited)
ASSETS          
Cash and cash equivalents $ 76,018     $ 75,578     $ 86,819  
Available for sale investment securities, at fair value 583,035     503,288     483,846  
Held to maturity investment securities, at amortized cost 12,009     6,921     7,222  
Loans held-for-sale 21,575         701,947  
Loans held-for-investment 5,734,917     5,041,547     4,306,893  
Allowance for loan losses (33,358 )   (30,312 )   (27,356 )
Total loans held-for-investment, net 5,701,559     5,011,235     4,279,537  
Federal Home Loan Bank stock 32,995     27,733     38,582  
Premises and equipment, net 21,870     22,452     23,262  
Prepaid expenses and other assets 61,172     57,173     48,202  
Total assets $ 6,510,233     $ 5,704,380     $ 5,669,417  
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
Liabilities:          
Deposits $ 4,592,155     $ 3,951,238     $ 3,681,175  
Federal Home Loan Bank advances 1,150,746     989,260     1,359,573  
Junior subordinated deferrable interest debentures 61,857     61,857     61,857  
Senior debt 94,228     94,161     94,095  
Other liabilities 49,067     58,119     56,431  
Total liabilities 5,948,053     5,154,635     5,253,131  
Total stockholders' equity 562,180     549,745     416,286  
Total liabilities and stockholders' equity $ 6,510,233     $ 5,704,380     $ 5,669,417  
                       


CONSOLIDATED INCOME STATEMENTS (UNAUDITED)
                   
  Three Months Ended   Six Months Ended
(Dollars in thousands except per share data) June 30,
 2018
  March 31,
2018
  June 30,
 2017
  June 30,
 2018
  June 30,
 2017
Interest income:                  
Interest and fees on loans $ 51,343     $ 46,563     $ 41,173     $ 97,906     $ 79,916  
Interest and dividends on investment securities 3,343     2,718     1,863     6,061     3,516  
Total interest income 54,686     49,281     43,036     103,967     83,432  
Interest expense:                  
Interest on deposits 14,560     11,932     9,058     26,492     17,371  
Interest on FHLB advances 6,823     4,820     4,260     11,643     7,537  
Interest on junior subordinated deferrable interest debentures 567     487     408     1,054     788  
Interest on senior debt 1,577     1,577     1,577     3,154     3,154  
Total interest expense 23,527     18,816     15,303     42,343     28,850  
Net interest income before provision for loan losses 31,159     30,465     27,733     61,624     54,582  
Provision for (reversal of) loan losses 1,300     1,500     (6,481 )   2,800     (6,172 )
Net interest income after provision for (reversal of) loan losses 29,859     28,965     34,214     58,824     60,754  
Noninterest income 817     1,025     201     1,842     1,083  
Noninterest expense 14,922     14,713     14,840     29,635     29,542  
Income before provision for income taxes 15,754     15,277     19,575     31,031     32,295  
Provision for income taxes 4,528     4,175     654     8,703     1,079  
Net income $ 11,226     $ 11,102     $ 18,921     $ 22,328     $ 31,216  
Basic earnings per common share $ 0.20     $ 0.20     $ 0.45     $ 0.40     $ 0.74  
Diluted earnings per common share $ 0.20     $ 0.20     $ 0.45     $ 0.39     $ 0.74  
                                       


CONSOLIDATED FINANCIAL HIGHLIGHTS (UNAUDITED)
       
  As of or For the Three Months Ended   Six Months Ended
(Dollars in thousands except per share data) June 30,
 2018
  March 31,
2018
  June 30,
 2017
  June 30,
 2018
  June 30,
 2017
PERFORMANCE RATIOS                  
Return on average:                  
Assets 0.71 %   0.76 %   1.37 %   0.73 %   1.17 %
Stockholders' equity 8.00 %   7.98 %   18.41 %   7.99 %   15.22 %
Efficiency ratio (1) 46.67 %   46.72 %   53.13 %   46.69 %   53.07 %
Noninterest expense to average assets 0.95 %   1.01 %   1.08 %   0.97 %   1.11 %
Loan to deposit ratio 124.89 %   129.47 %   117.00 %   124.89 %   117.00 %
Average stockholders' equity to average assets 8.89 %   9.52 %   7.45 %   9.19 %   7.68 %
Dividend payout ratio 29.41 %   54.59 %   54.97 %   41.93 %   64.71 %
PRO FORMA (1)                  
Actual/pro forma net income $ 11,226     $ 11,102     $ 11,353     $ 22,328     $ 18,731  
Actual/pro forma diluted earnings per share $ 0.20     $ 0.20     $ 0.27     $ 0.39     $ 0.45  
Actual/pro forma return on average:                  
Assets 0.71 %   0.76 %   0.82 %   0.73 %   0.70 %
Stockholders' equity 8.00 %   7.98 %   11.04 %   7.99 %   9.13 %
YIELDS/ RATES                  
Yield on loans 3.70 %   3.61 %   3.37 %   3.65 %   3.38 %
Yield on investments 2.04 %   1.85 %   1.37 %   1.94 %   1.35 %
Yield on interest earning assets 3.51 %   3.42 %   3.16 %   3.47 %   3.16 %
Cost of deposits 1.36 %   1.19 %   1.00 %   1.28 %   0.98 %
Cost of borrowings 2.53 %   2.25 %   1.75 %   2.39 %   1.72 %
Cost of interest bearing liabilities 1.65 %   1.44 %   1.21 %   1.55 %   1.18 %
Net interest spread 1.86 %   1.98 %   1.95 %   1.92 %   1.98 %
Net interest margin 2.00 %   2.11 %   2.03 %   2.05 %   2.07 %
CAPITAL                  
Total equity to total assets 8.64 %   9.18 %   7.34 %        
Tangible stockholders' equity to tangible assets (1) 8.59 %   9.13 %   7.29 %        
Book value per share $ 9.94     $ 9.79     $ 9.91          
Tangible book value per share (1) $ 9.88     $ 9.73     $ 9.83          
Market value per share (period end) $ 11.51     $ 12.01       N/A          
ASSET QUALITY                  
Annualized net recoveries to average loans 0.01 %   0.01 %   0.01 %        
Nonperforming loans to total loans 0.08 %   0.13 %   0.14 %        
Nonperforming assets to total assets 0.07 %   0.12 %   0.11 %        
Allowance for loan losses to loans held-for-investment 0.58 %   0.60 %   0.64 %        
Allowance for loan losses to nonperforming loans 696.99 %   459.42 %   446.77 %        
LOAN COMPOSITION                  
Multifamily residential $ 3,354,475     $ 3,094,033     $ 2,407,545          
Single family residential $ 2,196,582     $ 2,069,950     $ 1,773,839          
Commercial real estate $ 151,974     $ 125,756     $ 73,556          
Construction and land $ 31,786     $ 36,570     $ 51,903          
Non-mortgage $ 100     $ 100     $ 50          
DEPOSIT COMPOSITION                  
Noninterest bearing transaction accounts $ 67,541     $ 28,843     $ 23,662          
Interest bearing transaction accounts $ 173,120     $ 196,767     $ 192,278          
Money market deposit accounts $ 1,388,636     $ 1,489,718     $ 1,532,234          
Time deposits $ 2,962,858     $ 2,398,698     $ 1,933,001          
                   
(1)  See "Non-GAAP Reconciliation" table for reconciliations of non-GAAP measurements.        
         


NON-GAAP RECONCILIATION (UNAUDITED)          
                   
  Three Months Ended   Six Months Ended
(Dollars in thousands except per share data) June 30,
 2018
  March 31,
2018
  June 30,
 2017
  June 30,
 2018
  June 30,
 2017
Pre-tax, pre-provision net earnings                  
Income before taxes $ 15,754     $ 15,277     $ 19,575     $ 31,031     $ 32,295  
Plus: Provision for (reversal of) loan losses 1,300     1,500     (6,481 )   2,800     (6,172 )
Pre-tax, pre-provision net earnings $ 17,054     $ 16,777     $ 13,094     $ 33,831     $ 26,123  
Efficiency Ratio                  
Noninterest expense (numerator) $ 14,922     $ 14,713     $ 14,840     $ 29,635     $ 29,542  
Net interest income 31,159     30,465     27,733     61,624     54,582  
Noninterest income 817     1,025     201     1,842     1,083  
Operating revenue (denominator) $ 31,976     $ 31,490     $ 27,934     $ 63,466     $ 55,665  
Efficiency ratio 46.67 %   46.72 %   53.13 %   46.69 %   53.07 %
Pro Forma Net Income                  
Income before provision for income taxes $ 15,754     $ 15,277     $ 19,575     $ 31,031     $ 32,295  
Actual/pro forma provision for income taxes (1) 4,528     4,175     8,222     8,703     13,564  
Actual/pro forma net income (numerator) $ 11,226     $ 11,102     $ 11,353     $ 22,328     $ 18,731  
Pro Forma Diluted Earnings Per Share                  
Weighted average common shares outstanding - diluted (denominator) 56,820,076     56,755,154     42,000,000     56,787,615     42,000,000  
Actual/pro forma diluted earnings per share $ 0.20     $ 0.20     $ 0.27     $ 0.39     $ 0.45  
Pro Forma Return on Average Assets                  
 Actual/pro forma net income (numerator) $ 11,226     $ 11,102     $ 11,353     $ 22,328     $ 18,731  
Average assets (denominator) $ 6,310,087     $ 5,848,751     $ 5,517,404     $ 6,080,693     $ 5,345,749  
Actual/pro forma return on average assets 0.71 %   0.76 %   0.82 %   0.73 %   0.70 %
Pro Forma Return on Average Stockholders' Equity                  
 Actual/pro forma net income (numerator) $ 11,226     $ 11,102     $ 11,353     $ 22,328     $ 18,731  
Average stockholders' equity (denominator) $ 560,961     $ 556,661     $ 411,176     $ 558,823     $ 410,318  
Actual/pro forma return on average stockholders' equity 8.00 %   7.98 %   11.04 %   7.99 %   9.13 %
                             


(Dollars in thousands except per share data) June 30,
 2018
  March 31,
2018
  June 30,
 2017
Tangible Book Value Per Share          
Total Assets $ 6,510,233     $ 6,033,888     $ 5,669,417  
Less: Goodwill (3,297 )   (3,297 )   (3,297 )
Tangible assets 6,506,936     6,030,591     5,666,120  
Less: Total Liabilities (5,948,053 )   (5,480,137 )   (5,253,131 )
Tangible Stockholders' Equity (numerator) $ 558,883     $ 550,454     $ 412,989  
Period end shares outstanding (denominator) 56,559,655     56,561,055     42,000,000  
Tangible Book Value Per Share $ 9.88     $ 9.73     $ 9.83  
Tangible Stockholders' Equity to Tangible Assets          
Tangible stockholders' equity (numerator) $ 558,883     $ 550,454     $ 412,989  
Tangible assets (denominator) 6,506,936     6,030,591     5,666,120  
Tangible Stockholders' Equity to Tangible Assets 8.59 %   9.13 %   7.29 %
                 

(1) Prior to January 1, 2018, we calculate our pro forma net income, earnings per share, return on average assets, return on average equity and return on average tangible equity by adding back our franchise S Corporation tax to net income, and using a combined C Corporation effective tax rate for Federal and California income taxes of 42.0%. This calculation reflects only the change in our status as an S Corporation and does not give effect to any other transaction. For periods in 2018, our actual provision for income taxes is used for comparative purposes.

Contact:   Bradley Satenberg
Investor Relations
(310) 606-8922
investorrelations@lbsavings.com
     

Primary Logo

View Comments and Join the Discussion!