Luther Burbank Plans $131 Million IPO for December 8th (LBC)

Luther Burbank (LBC) expects to raise $131 million in an initial public offering (IPO) on Friday, December 8th, IPO Scoop reports. The company plans to issue 11,400,000 shares at $10.50-$12.50 per share.

In the last 12 months, Luther Burbank generated $167 million in revenue and $62.2 million in net income. Luther Burbank has a market-cap of $613.5 million.

Keefe, Bruyette & Woods (A Stifel Company), Sandler O’Neill + Partners and Piper Jaffray served as the underwriters for the IPO and D.A. Davidson & Co. was co-manager.

Luther Burbank provided the following description of their company for its IPO: “We are Luther Burbank Corporation, a bank holding company headquartered in Santa Rosa, Sonoma County, California. We operate primarily through our wholly owned subsidiary, Luther Burbank Savings, a California banking corporation. Our mission is to improve your financial future – whether you are a customer, employee or shareholder. Our goal is to enhance our franchise and shareholder value by achieving significant growth in assets and profitability while maintaining strong asset quality and exemplary customer service. “.

Luther Burbank was founded in 1983 and has 267 employees. The company is located at 520 Third Street, 4th floor, Santa Rosa, CA 95401, US and can be reached via phone at (844) 446-8201. or on the web at http://www.lutherburbanksavings.com.

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