What are Luther Burbank's Business Segments?
Luther Burbank Corp is a bank holding company based in Santa Rosa, California. This financial institution offers various segments, products, and services designed to cater to different financial needs of their clients.
Segments:
1. Consumer Banking: This segment provides banking services to both individual and small business clients. It includes personal checking accounts, savings accounts, home equity loans, lines of credit, and credit cards.
2. Commercial Banking: This segment offers commercial financing and deposit products to mid-sized and large businesses. It includes equipment financing, real estate loans, lines of credit, and treasury management services.
3. Wholesale Banking: This segment provides correspondent banking services to small community banks and credit unions. Moreover, this segment acts as a funding source for the bank's lending activities.
Products and Services:
1. Mortgage Loans: Luther Burbank Corp offers various mortgage products such as fixed-rate, adjustable-rate, jumbo, and government-backed loans. These loans can be used to purchase a home or refinance an existing mortgage.
2. Personal Loans: This product includes unsecured personal loans, installment loans, and lines of credit. These loans can be used for various purposes such as home improvements, healthcare expenses, and debt consolidation.
3. Deposit Accounts: This service includes checking accounts, savings accounts, and certificates of deposit. They offer competitive interest rates and low or no monthly maintenance fees.
4. Cash Management Services: This service helps business clients manage their cash flow by offering features such as electronic transfers, remote deposit capture, and merchant services.
5. SBA Loans: This service is designed to help small businesses access financing through Small Business Administration (SBA) loans.
6. Investment Services: Luther Burbank Corp offers investment services such as financial planning, retirement planning, and brokerage services.
In summary, Luther Burbank Corp offers a broad range of segments, products, and services that cater to the financial needs of its consumer, commercial, and wholesale clients. Their products and services are designed to offer competitive rates, flexibility, and convenience.
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