Luther Burbank (LBC) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Entity Registrant Name	Luther Burbank Corp.
Entity Central Index Key	1,475,348
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Well Known Seasoned Issuer	No
Entity Common Stock Shares Outstanding		56,560,775
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 74,421	$ 75,578
Available for sale investment securities, at fair value	538,440	503,288
Held to maturity investment securities, at amortized cost (fair value of $12,013 and $6,925 at March 31, 2018 and December 31, 2017, respectively)	12,237	6,921
Loans receivable, net of allowance for loan losses of $31,980 and $30,312 as of March 31, 2018 and December 31,2017, respectively	5,294,429	5,011,235
Accrued interest receivable	16,137	14,901
Federal Home Loan Bank (FHLB) stock, at cost	33,023	27,733
Premises and equipment, net	21,862	22,452
Goodwill	3,297	3,297
Prepaid expenses and other assets	40,042	38,975
Total assets	6,033,888	5,704,380
Liabilities:
Deposits	4,114,026	3,951,238
Federal Home Loan Bank advances	1,158,153	989,260
Junior subordinated deferrable interest debentures	61,857	61,857
Senior debt $95,000 face amount, 6.5% interest rate, due September 30, 2024 (less debt issuance costs of $839 and $839 at March 31, 2018 and December 31, 2017, respectively)	94,195	94,161
Accrued interest payable	2,329	1,781
Other liabilities and accrued expenses	49,577	56,338
Total liabilities	5,480,137	5,154,635
Commitments and contingencies (Note 17)
Stockholders' equity:
Common stock, no par value; 100,000,000 shares authorized; 56,561,055 and 56,422,662 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	455,251	454,287
Retained earnings	105,750	102,459
Accumulated other comprehensive loss, net of taxes	(7,250)	(7,001)
Total stockholders' equity	553,751	549,745
Total liabilities and stockholders' equity	$ 6,033,888	$ 5,704,380

CONSOLIDATED STATEMENTS OF FIN3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - Parenthetical - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Fair value of held-to-maturity securities	$ 12,013	$ 6,925
Allowance for loan losses	$ 31,980	$ 30,312
Stockholders' Equity Attributable to Parent [Abstract]
Common stock shares authorized	100,000,000	100,000,000
Common stock shares issued	56,561,055	56,422,662
Common stock shares outstanding	56,561,055	56,422,662
Senior Unsecured Term Notes, September 2014 | Senior Unsecured Term Notes
Liabilities:
Principal	$ 95,000	$ 95,000
Debt interest rate	6.50%
Unamortized debt issuance costs	$ 805	$ 839

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest income:
Interest and fees on loans	$ 46,563	$ 38,743
Interest and dividends on investment securities	2,718	1,653
Total interest income	49,281	40,396
Interest expense:
Interest on deposits	11,932	8,314
Interest on FHLB advances	4,820	3,275
Interest on junior subordinated deferrable interest debentures	487	380
Interest on senior debt	1,577	1,577
Total interest expense	18,816	13,546
Net interest income before provision for loan losses	30,465	26,850
Provision for loan losses (Note 3)	1,500	309
Net interest income after provision for loan losses	28,965	26,541
Noninterest income:
Increase in cash surrender value of life insurance	53	49
Net loss on sale of loans	0	(163)
FHLB dividends	594	633
Other income	378	363
Total noninterest income	1,025	882
Noninterest expense:
Compensation and related benefits	9,619	10,197
Deposit insurance premium	432	398
Professional and regulatory fees	398	185
Occupancy	1,296	1,298
Depreciation and amortization	714	735
Data processing	788	790
Marketing	213	179
Other expenses	1,253	921
Total noninterest expense	14,713	14,703
Income before provision for income taxes	15,277	12,720
Provision for income taxes	4,175	425
Net income	$ 11,102	$ 12,295
Basic earnings per common share (in usd per share)	$ 0.20	$ 0.29
Diluted earnings per common share (in usd per share)	$ 0.20	$ 0.29
Weighted average common shares outstanding - basic	56,190,970	42,000,000
Weighted average common shares outstanding - diluted	56,755,154	42,000,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Statement - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 11,102	$ 12,295
Unrealized (loss) gain on available for sale investment securities:
Unrealized holding (loss) gain arising during the period	(2,971)	609
Tax effect	843	(21)
Net of tax	(2,128)	588
Unrealized gain on cash flow hedge:
Unrealized holding gain arising during the period	181	50
Tax effect	(52)	(2)
Net of tax	129	48
Total other comprehensive (loss) income	(1,999)	636
Comprehensive income	$ 9,103	$ 12,931

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Restricted Stock Units	Common Stock	Common StockRestricted Stock Awards	Common StockRestricted Stock Units	Retained Earnings	Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Securities	Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Cash Flow Hedge
Beginning balance (shares) at Dec. 31, 2016			42,000,000
Beginning balance at Dec. 31, 2016	$ 404,375		$ 2,262			$ 407,648	$ (4,374)	$ (1,161)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,295					12,295
Other comprehensive income	636						588	48
Cash dividends	(9,800)					(9,800)
Ending balance (shares) at Mar. 31, 2017			42,000,000
Ending balance at Mar. 31, 2017	407,506		$ 2,262			410,143	(3,786)	(1,113)
Beginning balance (shares) at Dec. 31, 2017			56,422,662
Beginning balance at Dec. 31, 2017	549,745		$ 454,287			102,459	(6,214)	(787)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,102					11,102
Other comprehensive income	(1,999)						(2,128)	129
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income	0					(1,750)	1,529	221
Issuance of restricted stock awards				131,140
Vested restricted stock units					12,710
Shares surrendered to pay taxes on stock based compensation (shares)					(4,057)
Shares withheld to pay taxes on stock based compensation		$ (49)			$ (49)
Restricted stock forfeitures (shares)					(1,400)
Restricted stock forfeitures		$ (1)			$ (1)
Stock-based compensation expense	1,014		$ 1,014
Cash dividends	(6,061)					(6,061)
Ending balance (shares) at Mar. 31, 2018			56,561,055
Ending balance at Mar. 31, 2018	$ 553,751		$ 455,251			$ 105,750	$ (6,813)	$ (437)

CONSOLIDATED STATEMENTS OF CHA7

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends	$ 0.11	$ 0.23

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income	$ 11,102	$ 12,295
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	714	735
Provision for loan losses	1,500	309
Increase in deferred loan costs, net	(2,708)	(1,049)
Amortization of premiums on investment securities, net	563	231
Net loss on sale of loans	0	163
Originations of loans held for sale	0	(17,986)
Proceeds from sale of loans held for sale	0	24,691
Stock based compensation expense, net of forfeitures	1,013	0
Net increase in cash surrender value of life insurance	(53)	(49)
Effect of changes in:
Accrued interest receivable	(1,236)	(1,033)
Accrued interest payable	548	96
Other assets	(43)	527
Other liabilities	(6,727)	(7,522)
Net cash provided by operating activities	4,673	11,408
Cash flows from investing activities:
Proceeds from maturities or calls of available for sale investment securities	20,965	20,449
Proceeds from maturities or calls of held to maturity investment securities	55	289
Purchases of available for sale investment securities	(59,647)	(27,468)
Purchases of held to maturity investment securities	(5,375)	0
Net increase in loans receivable	(281,986)	(307,966)
Purchase of FHLB stock, net	(5,290)	(2,500)
Purchase of premises and equipment	(123)	(168)
Net cash used in investing activities	(331,401)	(317,364)
Cash flows from financing activities:
Net increase in customer deposits	162,788	286,673
Proceeds from long term FHLB advances	100,000	100,000
Net change in short term FHLB advances	68,893	(54,406)
Shares withheld for taxes on vested restricted stock	(49)	0
Cash paid for dividends	(6,061)	(9,800)
Net cash provided by financing activities	325,571	322,467
(Decrease) increase in cash and cash equivalents	(1,157)	16,511
Cash and cash equivalents, beginning of period	75,578	59,208
Cash and cash equivalents, end of period	74,421	75,719
Supplemental disclosure of cash flow information: Cash paid during the period for:
Interest	18,268	13,451
Income taxes	$ 158	$ 0

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Organization Luther Burbank Corporation (the ‘‘Company’’), a California corporation headquartered in Santa Rosa, is the bank holding company for its wholly-owned subsidiary, Luther Burbank Savings (the "Bank"), and its wholly-owned subsidiary, Burbank Investor Services. The Bank conducts its business from its headquarters in Manhattan Beach, California. It has nine full service branches located in Sonoma, Marin, Santa Clara, and Los Angeles Counties. Other California loan offices are located in Contra Costa, Los Angeles and Orange Counties. There are also loan offices in King County, Washington and Clackamas County, Oregon. The Company also owns Burbank Financial Inc., a real estate investment company, and all the common interests in Luther Burbank Statutory Trusts I and II, entities created to issue trust preferred securities. On April 27, 2017, the Company declared a 200 -for-1 stock split, increasing the number of issued and authorized shares from 210,000 to 42,000,000 and 500,000 to 100,000,000 , respectively. The Company also declared that the stock has zero par value, whereas the stock had previously held a stated value of $8 per share (stated value not adjusted for split). Additional shares issued as a result of the stock split were distributed immediately upon issuance to the stockholders. Share and per share amounts included in the consolidated financial statements and accompanying notes reflect the effect of the split for all periods presented. We terminated our status as a “Subchapter S” corporation as of December 1, 2017, in connection with our Initial Public Offering ("IPO") and became a taxable C Corporation. Prior to that date, as an S-Corporation, we had no U.S. federal income tax expense. On December 12, 2017, the Company completed the IPO of its common stock. In connection with the Company’s IPO, the Company sold and issued 13,972,500 shares of common stock at $10.75 per share. After deducting underwriting discounts and offering expenses, the Company received total net proceeds of $138.3 million from the IPO. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all footnotes as would be necessary for a fair presentation of financial position, results of operations and comprehensive income, changes in stockholders’ equity and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). However, these interim unaudited consolidated financial statements reflect all adjustments (consisting solely of normal recurring adjustments and accruals) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and comprehensive income, changes in stockholders’ equity and cash flows for the interim periods presented. These unaudited consolidated financial statements have been prepared on a basis consistent with, and should be read in conjunction with, the audited consolidated financial statements as of and for the year ended December 31, 2017, and the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC, under the Securities and Exchange Act of 1934, (the “Exchange Act”). The unaudited consolidated financial statements include the accounts of the Company and the Bank. All intercompany accounts and transactions have been eliminated. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results of operations that may be expected for any other interim period or for the year ending December 31, 2018. The Company’s accounting and reporting policies conform to GAAP and to general practices within the banking industry. Use of Estimates Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions affect the amounts reported in the unaudited consolidated financial statements and the disclosures provided, and actual results could differ. Earnings Per Share ("EPS") Basic earnings per common share represents the amount of earnings for the period available to each share of common stock outstanding during the reporting period. Basic EPS is computed based upon net income divided by the weighted average number of common shares outstanding during the year. In determining the weighted average number of shares outstanding, vested restricted stock units are included. Diluted EPS represents the amount of earnings for the period available to each share of common stock outstanding including common stock that would have been outstanding assuming the issuance of common shares for all dilutive potential common shares outstanding during each reporting period. Diluted EPS is computed based upon net income divided by the weighted average number of commons shares outstanding during each period, adjusted for the effect of dilutive potential common shares, such as restricted stock awards and units, calculated using the treasury stock method. The factors used in the earnings per share computation follow: Three Months Ended March 31, (Dollars in thousands, except per share amounts) 2018 2017 Net income $ 11,102 $ 12,295 Weighted average basic common shares outstanding 56,190,970 42,000,000 Add: Dilutive effects of assumed vesting of restricted stock 564,184 — Weighted average diluted common shares outstanding 56,755,154 42,000,000 Income per common share: Basic $ 0.20 $ 0.29 Diluted $ 0.20 $ 0.29 Anti-dilutive shares not included in calculation of diluted earnings per share — — Accounting Standard Adopted in 2018 FASB ASU 2018-02 In February 2018, the FASB provided guidance for the reclassification of the effect of remeasuring deferred tax balances related to items within accumulated other comprehensive income to retained earnings resulting from the Tax Cuts and Jobs Act of 2017. ASU 2018-02 is effective for all entities for fiscal years beginning after December 31, 2018, including interim periods therein, with early adoption permitted. As permitted, the Company early adopted ASU 2018-02 during the quarter ended March 31, 2018 and reclassified $1.8 million of stranded tax amounts within accumulated other comprehensive income to retained earnings. Accounting Standards Pending Adoption FASB ASU 2016-01 In January 2016, the FASB issued guidance to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. This Update contains several provisions, including but not limited to 1) requiring equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income; 2) simplifying the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; 3) eliminating the requirement to disclose the method(s) and significant assumptions used to estimate fair value; and 4) requiring separate presentation of financial assets and liabilities by measurement category and form of financial asset on the statement of financial condition or the accompanying notes to the financial statements. The Update also changes certain financial statement disclosure requirements, including requiring disclosures of the fair value of financial instruments be made on the basis of exit price. The Update is effective for public business entities ("PBEs") for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. As an emerging growth company, the Company expects to adopt this guidance on January 1, 2019, assuming the Company remains an emerging growth company through such date. The adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. FASB ASU 2017-04 In January 2017, the FASB issued guidance related to the goodwill impairment test, which eliminates step 2 in the process. Under the amendments, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized, however, should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Update is effective for PBEs that are SEC filers for annual periods or any interim goodwill impairment tests beginning after December 15, 2019 using a prospective transition method and early adoption is permitted. As early adoption is permitted, the Company expects to adopt the guidance on December 31, 2018. The adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES Available for Sale The following tables summarize the amortized cost and the estimated fair value of available for sale investment securities as of the dates indicated (dollars in thousands): March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 356,772 $ 152 $ (5,432 ) $ 351,492 Agency bonds 120,405 29 (3,919 ) 116,515 Collateralized mortgage obligations 44,707 263 — 44,970 SBA securities 13,125 — (137 ) 12,988 U.S. Treasury 10 year note 1,010 — (39 ) 971 CRA Qualified Investment Fund (CRAIX) 12,000 — (496 ) 11,504 Total available for sale investment securities $ 548,019 $ 444 $ (10,023 ) $ 538,440 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 316,134 $ 112 $ (3,327 ) $ 312,919 Agency bonds 120,405 30 (3,213 ) 117,222 Collateralized mortgage obligations 46,920 249 (1 ) 47,168 SBA securities 13,427 — (125 ) 13,302 U.S. Treasury 10 year note 1,010 — (26 ) 984 CRA Qualified Investment Fund (CRAIX) 12,000 — (307 ) 11,693 Total available for sale investment securities $ 509,896 $ 391 $ (6,999 ) $ 503,288 Net unrealized losses on available for sale investment securities are recorded as accumulated other comprehensive income within stockholders’ equity totaling $6.8 million and $6.2 million , net of $2.8 million and $394 thousand in tax assets at March 31, 2018 and December 31, 2017 , respectively. At December 31, 2017, $394 thousand of a total $1.9 million tax asset resides in accumulated other comprehensive income, while the remaining $1.5 million was included in the provision for income taxes on the consolidated statements of income related to the tax rate changes associated with the termination of S Corporation status and the change in tax law during the year ended December 31, 2017. The Company adopted ASU 2018-02 effective January 1, 2018 and reclassified the $1.5 million in s tranded tax effects from the change in federal corporate tax rates on our available for sale investment securities from accumulated other comprehensive loss, net to retained earnings. There were no sales or transfers of available for sale investment securities and no gains or losses on these securities for the three months ended March 31, 2018 and 2017 . The following tables summarize the gross unrealized losses and fair value of available for sale investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (dollars in thousands): March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 145,877 $ (1,555 ) $ 177,062 $ (3,878 ) $ 322,939 $ (5,433 ) Agency bonds 9,755 (246 ) 103,732 (3,673 ) 113,487 (3,919 ) SBA securities — — 12,988 (137 ) 12,988 (137 ) U.S. Treasury 10 year note — — 971 (39 ) 971 (39 ) CRA Qualified Investment Fund (CRAIX) 4,869 (131 ) 6,635 (364 ) 11,504 (495 ) Total available for sale investment securities $ 160,501 $ (1,932 ) $ 301,388 $ (8,091 ) $ 461,889 $ (10,023 ) At March 31, 2018 , the Company held 92 mortgage-backed securities of which 72 were in a loss position and 46 had been in a loss position for twelve months or more. The Company held 13 agency bonds of which 12 were in a loss position and 11 had been for twelve months or more. The Company also held 15 collateralized mortgage obligations, none of which were in an unrealized loss position. Of the total 4 SBA securities held at March 31, 2018 , 4 were in a loss position and had been in a loss position for greater than twelve months. Of the 3 total investments in CRA Qualified Investment Fund (CRAIX), all 3 were in a loss position and 2 had been for greater than 12 months. The Company held 1 U.S. Treasury note at March 31, 2018 . This note was in a loss position and had been for greater than 12 months. December 31, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 93,403 $ (805 ) $ 182,343 $ (2,522 ) $ 275,746 $ (3,327 ) Agency bonds 9,851 (148 ) 104,340 (3,065 ) 114,191 (3,213 ) Collateralized mortgage obligations 1,959 (1 ) — — 1,959 (1 ) SBA securities — — 13,302 (125 ) 13,302 (125 ) U.S. Treasury 10 year note — — 984 (26 ) 984 (26 ) CRA Qualified Investment Fund (CRAIX) 4,948 (52 ) 6,745 (255 ) 11,693 (307 ) Total available for sale investment securities $ 110,161 $ (1,006 ) $ 307,714 $ (5,993 ) $ 417,875 $ (6,999 ) At December 31, 2017 , the Company held 87 mortgage-backed securities of which 68 were in a loss position and 30 had been in a loss position for twelve months or more. The Company held 13 agency bonds of which 12 were in a loss position and 11 had been for twelve months or more. The Company also held 15 collateralized mortgage obligations, 1 of which was in an unrealized loss position. Of the total 4 SBA securities held at year end, 4 were in a loss position and had been in a loss position for greater than twelve months. Of the 3 total investments in CRA Qualified Investment Fund (CRAIX), 3 were in a loss position and 2 had been for greater than 12 months. The Company held 1 U.S. Treasury note at year end. This note was in a loss position and had been for greater than 12 months. The unrealized losses on the Company’s investments were caused by interest rate changes. In addition, the contractual cash flows of these investments are guaranteed by agencies sponsored by the U.S. government. Accordingly, it is expected that the securities will not be settled at a price less than amortized cost. Because the decline in market value is attributable to changes in interest rates but not credit quality, and because the Company has the ability and intent to hold those investments until a recovery of fair value, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2018 and December 31, 2017 . As of March 31, 2018 and December 31, 2017 , there were no holdings of securities of any one issuer in an amount greater than 10% of stockholders' equity, other than the U.S. government and its agencies. Held to Maturity The following tables summarize the amortized cost and estimated fair value of held to maturity investment securities as of the dates indicated (dollars in thousands): March 31, 2018 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 11,956 $ 33 $ (257 ) $ 11,732 Other investments 281 — — 281 Total held to maturity investment securities $ 12,237 $ 33 $ (257 ) $ 12,013 December 31, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 6,636 $ 73 $ (69 ) $ 6,640 Other investments 285 — — 285 Total held to maturity investment securities $ 6,921 $ 73 $ (69 ) $ 6,925 The following tables summarize the gross unrecognized losses and fair value of held to maturity investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrecognized loss position (dollars in thousands): March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 7,625 $ (123 ) $ 2,943 $ (134 ) $ 10,568 $ (257 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 1,047 $ (4 ) $ 3,029 $ (65 ) $ 4,076 $ (69 ) The unrecognized losses on the Company’s investments were caused by interest rate changes. It is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rate and other market conditions. The issuers continue to make timely principal and interest payments on the investments. The fair value is expected to recover as the investments approach maturity. The following table summarizes the scheduled maturities of available-for-sale and held-to-maturity investment securities as of March 31, 2018 (dollars in thousands): March 31, 2018 Amortized Cost Fair Value Available-for-sale investments securities One to five years $ 120,296 $ 116,341 Five to ten years 1,329 1,334 Beyond ten years 414,394 409,261 No maturity 12,000 11,504 Total available-for-sale investment securities $ 548,019 $ 538,440 Held-to-maturity investment securities beyond ten years $ 12,237 $ 12,013 Total held-to-maturity investment securities $ 12,237 $ 12,013 The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Equity securities with no maturity date are shown separately. No securities were pledged as of March 31, 2018 and December 31, 2017 .

LOANS RECEIVABLE

LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
LOANS RECEIVABLE	LOANS RECEIVABLE Loans receivable consist of the following (dollars in thousands): March 31, December 31, Permanent mortgages on: Multifamily residential $ 3,076,356 $ 2,887,438 Single family residential 2,042,624 1,957,546 Commercial real estate 125,445 112,492 Construction and land loans on: Single family residential 36,320 41,165 Non-Mortgage (‘‘NM’’) loans: 100 50 Total 5,280,845 4,998,691 Deferred loan costs, net 45,564 42,856 Allowance for loan losses (31,980 ) (30,312 ) Loans receivable held for investment, net $ 5,294,429 $ 5,011,235 Certain loans have been pledged to secure borrowing arrangements (see Note 7). The following table summarizes activity in and the allocation of the allowance for loan losses by portfolio segment (dollars in thousands): Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Three months ended March 31, 2018 Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Provision for loan losses 1,245 167 63 25 1,500 Charge-offs — — — — — Recoveries — 3 90 75 168 Ending balance allocated to portfolio segments $ 19,833 $ 9,214 $ 1,887 $ 1,046 $ 31,980 Three months ended March 31, 2017 Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,478 $ 11,559 $ 1,823 $ 1,438 $ 33,298 Provision for loan losses 1,395 (1,465 ) 127 252 309 Charge-offs — — — — — Recoveries — 3 — 89 92 Ending balance allocated to portfolio segments $ 19,873 $ 10,097 $ 1,950 $ 1,779 $ 33,699 The following tables summarize the allocation of the allowance for loan losses by impairment methodology (dollars in thousands): March 31, 2018 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 19,833 9,189 1,887 1,046 31,955 Ending balance $ 19,833 $ 9,214 $ 1,887 $ 1,046 $ 31,980 Loans: Ending balance: individually evaluated for impairment $ 1,564 $ 10,211 $ — $ — $ 11,775 Ending balance: collectively evaluated for impairment 3,074,792 2,032,413 125,445 36,420 5,269,070 Ending balance $ 3,076,356 $ 2,042,624 $ 125,445 $ 36,420 $ 5,280,845 December 31, 2017 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 18,588 9,019 1,734 946 30,287 Ending balance $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Loans: Ending balance: individually evaluated for impairment $ 2,246 $ 8,991 $ 656 $ — $ 11,893 Ending balance: collectively evaluated for impairment 2,885,192 1,948,555 111,836 41,215 4,986,798 Ending balance $ 2,887,438 $ 1,957,546 $ 112,492 $ 41,215 $ 4,998,691 The Company assigns a risk rating to all loans and periodically performs detailed reviews of all such loans to identify credit risks and to assess the overall collectability of the portfolio. During these internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, and trends in the operation of the collateral. These credit quality indicators are used to assign a risk rating to each individual loan. The risk ratings can be grouped into six major categories, defined as follows: Pass assets are those which are performing according to contract and have no existing or known weaknesses deserving of management’s close attention. The basic underwriting criteria used to approve the loans are still valid, and all payments have essentially been made as planned. Watch assets are expected to have an event occurring in the next 90 to 120 days that will lead to a change in risk rating with the change being either favorable or unfavorable. These assets require heightened monitoring of the event by management. Special mention assets have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Special mention assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard assets are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged. These assets have well-defined weaknesses: the primary source of repayment is gone or severely impaired (i.e., bankruptcy or loss of employment) and/or there has been a deterioration in collateral value. In addition, there is the distinct possibility that the Company will sustain some loss, either directly or indirectly (i.e., the cost of monitoring), if the deficiencies are not corrected. A deterioration in collateral value alone does not mandate that an asset be adversely classified if such factor does not indicate that the primary source of repayment is in jeopardy. Doubtful assets have the weaknesses of those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable based on current facts, conditions and values. Loss assets are considered uncollectible and of such little value that their continuance as assets, without establishment of a specific valuation allowance or charge-off, is not warranted. This classification does not necessarily mean that an asset has absolutely no recovery or salvage value; but rather, it is not practical or desirable to defer writing off a basically worthless asset (or portion thereof) even though partial recovery may be affected in the future. The following tables summarize the loan portfolio allocated by management’s internal risk ratings at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM and Construction Total Grade: Pass $ 3,030,678 $ 2,015,783 $ 121,203 $ 34,635 $ 5,202,299 Watch 32,854 15,357 3,267 — 51,478 Special mention 5,755 6,001 — 1,785 13,541 Substandard 7,069 5,483 975 — 13,527 Total $ 3,076,356 $ 2,042,624 $ 125,445 $ 36,420 $ 5,280,845 December 31, 2017 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM and Construction Total Grade: Pass $ 2,847,720 $ 1,923,960 $ 106,539 $ 41,215 $ 4,919,434 Watch 25,354 20,178 4,315 — 49,847 Special mention 6,569 9,025 — — 15,594 Substandard 7,795 4,383 1,638 — 13,816 Total $ 2,887,438 $ 1,957,546 $ 112,492 $ 41,215 $ 4,998,691 The following tables summarize an aging analysis of the loan portfolio by the time past due at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 30 Days 60 Days 90+ Days Non-accrual Current Total Loans: Multifamily residential $ — $ — $ — $ 1,564 $ 3,074,792 $ 3,076,356 Single family residential 2,841 — — 5,397 2,034,386 2,042,624 Commercial real estate — 2,104 — — 123,341 125,445 Land, NM, and construction — — — — 36,420 36,420 Total $ 2,841 $ 2,104 $ — $ 6,961 $ 5,268,939 $ 5,280,845 December 31, 2017 30 Days 60 Days 90+ Days Non-accrual Current Total Loans: Multifamily residential $ 2,751 $ — $ — $ 2,246 $ 2,882,441 $ 2,887,438 Single family residential 4,870 3,364 — 4,135 1,945,177 1,957,546 Commercial real estate — — — 656 111,836 112,492 Land, NM, and construction — — — — 41,215 41,215 Total $ 7,621 $ 3,364 $ — $ 7,037 $ 4,980,669 $ 4,998,691 The following table summarizes information related to impaired loans at March 31, 2018 and December 31, 2017 (dollars in thousands): As of March 31, 2018 As of December 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Multifamily residential $ 1,564 $ 1,686 $ — $ 2,246 $ 2,545 $ — Single family residential 9,257 9,488 — 8,029 8,237 — Commercial real estate — — — 656 798 — 10,821 11,174 — 10,931 11,580 — With an allowance recorded: Single family residential 954 954 25 962 962 25 954 954 25 962 962 25 Total: Multifamily residential 1,564 1,686 — 2,246 2,545 — Single family residential 10,211 10,442 25 8,991 9,199 25 Commercial real estate — — — 656 798 — $ 11,775 $ 12,128 $ 25 $ 11,893 $ 12,542 $ 25 The following table summarizes information related to impaired loans for the three months ended March 31, 2018 and 2017 (dollars in thousands): Three Months Ended March 31, 2018 2017 Average Recorded Investment Interest Income Cash Basis Interest Average Recorded Investment Interest Income Cash Basis Interest With no related allowance recorded: Multifamily residential $ 2,070 $ — $ — $ 1,524 $ — $ — Single family residential 8,165 37 — 6,353 48 — Commercial real estate 487 — — 832 — — 10,722 37 — 8,709 48 — With an allowance recorded: Single family residential 1,718 17 — 989 8 — 1,718 17 — 989 8 — Total: Multifamily residential 2,070 — — 1,524 — — Single family residential 9,883 54 — 7,342 56 — Commercial real estate 487 — — 832 — — $ 12,440 $ 54 $ — $ 9,698 $ 56 $ — The following table summarizes the recorded investment related to troubled debt restructurings at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, December 31, Troubled Debt Restructurings: Multifamily residential $ — $ 667 Single family residential 5,594 5,653 Total recorded investment in troubled debt restructurings $ 5,594 $ 6,320 The Company has allocated $25 thousand of allowances for loans modified in troubled debt restructurings at March 31, 2018 and December 31, 2017 . The Company does not have commitments to lend additional funds to borrowers with loans whose terms have been modified in troubled debt restructurings. There were no troubled debt restructurings in the three months ended March 31, 2018 and 2017 . The Company had no troubled debt restructurings with a subsequent payment default within twelve months following the modification during the three months ended March 31, 2018 and 2017 . A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. The terms of certain other loans were modified during the three months ended March 31, 2018 and 2017 that did not meet the definition of a troubled debt restructuring. These loans have a total recorded investment of $3.1 million and $2.8 million as of March 31, 2018 and March 31, 2017 , respectively. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant such as delays in payment of up to 4 months.

NONPERFORMING ASSETS

NONPERFORMING ASSETS	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
NONPERFORMING ASSETS	NONPERFORMING ASSETS Nonperforming assets include nonperforming loans plus real estate owned (foreclosed property). The Company’s nonperforming assets and trends related to those assets at March 31, 2018 and December 31, 2017 are indicated below (dollars in thousands): March 31, December 31, Non-accrual loans: Multifamily residential $ 1,564 $ 2,246 Single family residential 5,397 4,135 Commercial real estate — 656 Total non-accrual loans 6,961 7,037 Real estate owned — — Total nonperforming assets $ 6,961 $ 7,037 Contractual interest not accrued during the quarter $ 12 $ 10 There was not any real estate owned as of March 31, 2018 and December 31, 2017 . Generally, nonperforming loans are considered impaired, because the repayment of the loan will not be made in accordance with the original contractual agreement.

MORTGAGE SERVICING RIGHTS

MORTGAGE SERVICING RIGHTS	3 Months Ended
	Mar. 31, 2018
Transfers and Servicing [Abstract]
MORTGAGE SERVICING RIGHTS	MORTGAGE SERVICING RIGHTS Servicing loans for others generally consists of collecting mortgage payments, maintaining escrow accounts, disbursing payments to investors, and conducting foreclosure proceedings. Loan servicing income is recorded on the accrual basis and includes servicing fees from investors and certain charges collected from borrowers. Mortgage loans serviced for others are not reported as assets. The principal balances of these loans are as follows (dollars in thousands): March 31, December 31, Mortgage loans serviced for: FHLMC $ 609,254 $ 625,545 Colorado Federal Savings 40,049 40,236 First National Bank of Alaska 34,589 36,050 Provident Bank 20,390 20,855 Pacific Coast Bankers Bank 19,996 20,112 American River Bank 19,539 20,718 Exchange Bank 17,861 20,165 Total mortgage loans serviced for others $ 761,678 $ 783,681 Custodial account balances maintained in connection with serviced loans totaled $4.8 million and $5.2 million at March 31, 2018 and December 31, 2017 , respectively. Activity for mortgage servicing rights are as follows (dollars in thousands): Three Months Ended March 31, 2018 2017 Beginning Balance $ 4,255 $ 1,099 Additions — 83 Disposals — — Change in fair value due to changes in assumptions — — Other changes in fair value (131 ) (29 ) Ending balance $ 4,124 $ 1,153 Fair value as of March 31, 2018 was determined using a discount rate of 10% , prepayment speeds ranging from 6.0% to 70.4% , depending on the stratification of the specific right, and a weighted average default rate of 5% . Fair value as of December 31, 2017 was determined using a discount rate of 10% , prepayment speeds ranging from 5.8% to 70.4% , depending on the stratification of the specific right, and a weighted average default rate of 5% .

DEPOSITS

DEPOSITS	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
DEPOSITS	DEPOSITS A summary of deposits at March 31, 2018 and December 31, 2017 is as follows (dollars in thousands): March 31, December 31, Certificate accounts $ 2,398,698 $ 2,242,682 Money market savings 1,407,825 1,389,425 NOW accounts 196,767 203,159 Money market checking 81,893 85,073 Commercial checking 28,843 30,899 $ 4,114,026 $ 3,951,238 The Company had certificates of deposit with a denomination of $100 thousand or more totaling $2.1 billion and $1.9 billion at March 31, 2018 and December 31, 2017 , respectively. The Company had certificates of deposit that meet or exceed the FDIC Insurance limit of $250 thousand of $1.2 billion and $1.1 billion at March 31, 2018 and December 31, 2017 , respectively. The Company utilizes brokered deposits as an additional source of funding. The Company had brokered deposits of $295.9 million and $278.4 million at March 31, 2018 and December 31, 2017 , respectively. Maturities of the Company’s certificate accounts at March 31, 2018 are summarized as follows (dollars in thousands): April 1 - December 31, 2018 $ 1,467,831 Year ending December 31, 2019 560,064 Year ending December 31, 2020 278,666 Year ending December 31, 2021 51,750 Year ending December 31, 2022 35,530 Thereafter 4,857 $ 2,398,698

FEDERAL HOME LOAN BANK AND FEDE

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES	FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES The Bank may borrow from the Federal Home Loan Bank ("FHLB"), on either a short-term or long-term basis, up to 40% of its assets provided that adequate collateral has been pledged. As of March 31, 2018 and December 31, 2017 , the Bank had pledged various mortgage loans totaling approximately $2.3 billion and $2.4 billion , respectively, as well as the FHLB stock held by the Bank to secure these borrowing arrangements. The Bank has access to the Loan and Discount Window of the Federal Reserve Bank of San Francisco ("FRB"). Advances under this window are subject to the Bank providing qualifying collateral. Various mortgage loans totaling approximately $394.9 million and $379.0 million as of March 31, 2018 and December 31, 2017 , respectively, secure this borrowing arrangement. There were no borrowings outstanding with the FRB as of March 31, 2018 and December 31, 2017 . The following table discloses the Bank’s outstanding advances from the Federal Home Loan Bank of San Francisco (dollars in thousands): March 31, December 31, FHLB fixed rate short-term borrowings, interest rates from 1.78% to 1.94%, weighted average rate of 1.90%, and maturity dates of April and June 2018 as of March 31, 2018 $ 480,500 $ 411,600 FHLB fixed rate long-term borrowings, interest rates from 1.55% to 7.69%, weighted average rate of 2.09%, maturity dates between July 2018 and August 2032 as of March 31, 2018 527,653 427,660 FHLB variable rate long-term borrowings, interest rates from 1.68% to 1.89%, weighted average rate of 1.82%, and maturity dates between July 2018 and January 2020 as of March 31, 2018 150,000 150,000 $ 1,158,153 $ 989,260 The Bank's available borrowing capacity based on pledged loans to the FRB and the FHLB totaled $869.5 million and $1.1 billion at March 31, 2018 and December 31, 2017 , respectively. Short-term borrowings are borrowings with original maturities of 1 year or less. During the three months ended March 31, 2018 there was a maximum amount of short term borrowings outstanding of $495.7 million , an average amount outstanding of $457.4 million and a weighted average interest rate of 1.61% . The following table summarizes payments over the next five years as of March 31, 2018 (dollars in thousands): April 1 - December 31, 2018 $ 531,000 Year ending December 31, 2019 275,000 Year ending December 31, 2020 150,000 Year ending December 31, 2021 150,600 Year ending December 31, 2022 — Thereafter 51,553 $ 1,158,153

JUNIOR SUBORDINATED DEFERRABLE

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES	JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES The Company formed wholly owned trust companies (the ‘‘Trusts’’) which issued guaranteed preferred beneficial interests in the Company’s junior subordinated deferrable interest debentures (‘‘the Trust Securities’’). The Company is not considered the primary beneficiary of the Trusts and therefore, the Trusts are not consolidated in the Company’s financial statements, but rather the junior subordinated debentures are shown as a liability. The Company’s investment in the common securities of the Trusts, totaling $1.9 million , are included in other assets on the consolidated statement of financial condition. The sole asset of the Trusts are junior subordinated deferrable interest debentures (the ‘‘Notes’’). At March 31, 2018 and December 31, 2017 , the Company had two Trusts which have issued Trust Securities to the public. The Trusts have invested the proceeds of such Trust Securities in the Notes. Each of the Notes has an interest rate equal to the corresponding Trust Securities distribution rate. The Company has the right to defer payment of interest on the Notes at any time or from time to time for a period not exceeding five years provided that no extension period may extend beyond the stated maturity of the relevant Notes. During any such extension period, distributions on the Trust Securities will also be deferred, and the Company’s ability to pay dividends on its common stock will be restricted. The Company has entered into contractual arrangements which, taken collectively, fully and unconditionally guarantee payment of: (i) accrued and unpaid distributions required to be paid on the Trust Securities; (ii) the redemption price with respect to any Trust Securities called for redemption by the Trusts; and (iii) payments due upon a voluntary or involuntary dissolution, winding up or liquidation of the Trusts. The Trust Securities are mandatorily redeemable upon maturity of the Notes, or upon earlier redemption as provided in the indenture. The Company has the right to redeem the Notes purchased by the Trusts, in whole or in part, on or after the redemption date. As specified in the indenture, if the Notes are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest. The following table is a summary of the outstanding Trust Securities and Notes at March 31, 2018 and December 31, 2017 (dollars in thousands): Issuer Issuance Date Amount of Trust Securities Amount of Notes Redemption Date Maturity Date Luther Burbank Statutory Trust I March 2006 $ 40,000 $ 41,238 June 15, 2011 June 15, 2036 Quarterly adjustments - three month Libor plus 1.38% (3.505% and 2.968% at 3/31/2018 and 12/31/2017, respectively) Luther Burbank Statutory Trust II March 2007 $ 20,000 $ 20,619 June 15, 2012 June 15, 2037 Quarterly adjustments - three month Libor plus 1.62% (3.745% and 3.208% at 3/31/2018 and 12/31/2017, respectively)

SENIOR DEBT

SENIOR DEBT	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
SENIOR DEBT	SENIOR DEBT In September 2014, the Company issued $95 million in senior unsecured term notes to qualified institutional investors. The proceeds of this debt were used to retire senior unsecured term notes issued between 2009 and 2011 totaling $62.7 million , including a prepayment penalty of $243 thousand , and make an additional contribution to the Bank of $28 million in the form of paid-in capital. The balance of the proceeds, or approximately $2.7 million , was retained at the holding company to be used as cash reserves and for general corporate purposes. The following table summarizes information on these notes as of March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 December 31, 2017 Principal Unamortized debt issuance costs Principal Unamortized debt issuance costs Senior unsecured term notes, fixed interest rate 6.50%, does not amortize and matures on September 30, 2024 (discount is based on imputed interest rate of 6.70%) $ 95,000 $ 805 $ 95,000 $ 839

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In connection with the initial public offering, the Company terminated its S Corporation status and became a taxable entity (“C Corporation”) on December 1, 2017. As such, any periods prior to December 1, 2017 will only reflect an effective state income tax rate. The provision for income tax for the three months ended March 31, 2018 and 2017 differs from the statutory federal rate of 21% and 35%, respectively, due to the following: Three months ended March 31, 2018 2017 Statutory U.S. Federal Income Tax $ 3,208 $ 4,452 Increase (decrease) resulting from: Benefit of S Corporation status — (4,452 ) State Taxes 1,316 425 Other (349 ) — Provision for income taxes $ 4,175 $ 425 The Company’s effective tax rate differs from the statutory California tax rate of 3.5% prior to December 1, 2017 and the statutory federal and state tax rate of 29.56% for the three months ended March 31, 2018 , primarily due to nontaxable earnings on life insurance and nondeductible meal and entertainment expense.

REGULATORY MATTERS

REGULATORY MATTERS	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
REGULATORY MATTERS	REGULATORY CAPITAL MATTERS The final rules implementing the Basel Committee on Banking Supervision's capital guidelines for U.S. banks (the “Basel III Capital Rules”) became effective for the Holding Company and Bank on January 1, 2015, with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. The Basel III Capital Rules provide for the following minimum capital to risk-weighted assets ratios as of January 1, 2015: a) 4.5% based upon common equity tier 1 capital ("CET1"); b) 6.0% based upon tier 1 capital; and c) 8.0% based upon total regulatory capital. A minimum leverage ratio (tier 1 capital as a percentage of average consolidated assets) of 4.0% is also required under the Basel III Capital Rules. As of March 31, 2018 and December 31, 2017 , the Company and the Bank met all capital adequacy requirements to which it is subject. Also, as of March 31, 2018 and December 31, 2017 , the Bank satisfied all criteria necessary to be categorized as “well capitalized” under the regulatory framework for prompt corrective action. There have been no conditions or events since March 31, 2018 that management believes have changed the "well capitalized" categorization. The Company’s and Bank’s actual capital amounts and regulatory capital ratios are presented as follows (dollars in thousands): Actual Minimum Regulatory Requirement Minimum Capital Adequacy with Capital Buffer Minimum Regulatory Requirement for "Well- Capitalized" Institution under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Corporation As of March 31, 2018 Tier 1 Leverage Ratio $ 619,209 10.57 % $ 241,612 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 557,352 15.55 % 161,342 4.50 % $ 228,568 6.38 % N/A N/A Tier 1 Risk-Based Capital Ratio 619,209 17.27 % 215,123 6.00 % 282,348 7.88 % N/A N/A Total Risk-Based Capital Ratio 653,367 18.22 % 286,830 8.00 % 354,056 9.88 % N/A N/A As of December 31, 2017 Tier 1 Leverage Ratio $ 615,010 11.26 % $ 218,499 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 553,153 16.05 % 155,107 4.50 % $ 198,192 5.75 % N/A N/A Tier 1 Risk-Based Capital Ratio 615,010 17.84 % 206,809 6.00 % 249,894 7.25 % N/A N/A Total Risk-Based Capital Ratio 647,421 18.78 % 275,746 8.00 % 318,831 9.25 % N/A N/A Actual Minimum Regulatory Minimum Capital Adequacy with Capital Buffer Minimum Regulatory Requirement for "Well- Capitalized" Institution under prompt corrective action Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Savings As of March 31, 2018 Tier 1 Leverage Ratio $ 696,502 11.90 % $ 241,507 4.00 % N/A N/A $ 301,884 5.00 % Common Equity Tier 1 Risk-Based Ratio 696,502 19.44 % 161,225 4.50 % $ 228,402 6.38 % 232,880 6.50 % Tier 1 Risk-Based Capital Ratio 696,502 19.44 % 214,966 6.00 % 282,143 7.88 % 286,622 8.00 % Total Risk-Based Capital Ratio 730,660 20.39 % 286,622 8.00 % 353,799 9.88 % 358,277 10.00 % As of December 31, 2017 Tier 1 Leverage Ratio $ 685,434 12.54 % $ 218,585 4.00 % N/A N/A $ 273,232 5.00 % Common Equity Tier 1 Risk-Based Ratio 685,434 19.90 % 154,980 4.50 % $ 198,030 5.75 % 223,859 6.50 % Tier 1 Risk-Based Capital Ratio 685,434 19.90 % 206,640 6.00 % 249,689 7.25 % 275,519 8.00 % Total Risk-Based Capital Ratio 717,845 20.84 % 275,519 8.00 % 318,569 9.25 % 344,399 10.00 %

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES The Company utilizes interest rate cap and swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate caps and swaps do not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the individual interest rate cap or swap agreements. Interest Rate Caps Designated as Cash Flow Hedges: Interest rate caps with a notional amount totaling $100 million as of both March 31, 2018 and December 31, 2017 , were designated as cash flow hedges of certain Federal Home Loan Bank advances and were determined to be fully effective during all periods presented. As such, no amount of ineffectiveness has been included in net income. Therefore, the aggregate fair value of the caps is recorded in other assets (liabilities) with changes in fair value recorded in other comprehensive income (loss). The amount included in accumulated other comprehensive income (loss) would be reclassified to current earnings should the hedges no longer be considered effective. The Company expects the hedges to remain fully effective during the remaining terms of the cap. Summary information about the interest-rate caps designated as cash flow hedges as of year-end is as follows (dollars in thousands): March 31, December 31, Notional amounts $ 100,000 $ 100,000 Weighted average rate on FHLB advances 1.78 % 1.42 % Weighted average cap rate 2.55 % 2.55 % Weighted average original maturity 4.0 years 4.0 years Weighted average remaining maturity 0.6 years 0.9 years Unrealized losses $ (614 ) $ (796 ) The Company recognized $173 thousand and $77 thousand of cap premium amortization on cash flow hedges in the unaudited statements of income for the three months ended March 31, 2018 and 2017 , respectively.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK BASED COMPENSATION	STOCK BASED COMPENSATION The Company’s stock based compensation consists of restricted stock awards (RSAs) and restricted stock units (RSUs) granted under its 2017 Omnibus Equity and Incentive Compensation Plan ("Omnibus Plan"). In connection with its IPO in December 2017, the Company granted RSAs and RSUs to employees and nonemployee directors which all vest ratably over three years. At the same time, the Company granted RSUs in exchange for unvested phantom stock awards held by employees and all vested and unvested phantom stock awards held by nonemployee directors on a per share basis. The RSUs were subjected to the same vesting schedule and deferral elections that existed for the original phantom stock awards. In recognition of prior and current service, additional RSAs were granted during the first quarter of 2018. These awards to nonemployee directors vest over one year, while awards to employees vest ratably over three years. All RSAs and RSUs were granted at the fair value of the common stock at the time of the award. The RSAs and RSUs are considered fixed awards as the number of shares and fair value are known at the date of grant and the fair value at the grant date is amortized over the vesting and/or service period. Non-cash stock compensation expense recognized for RSAs and RSUs for the quarter ended on March 31, 2018 totaled $1.0 million . No RSAs or RSUs had been granted prior to December 2017. As of March 31, 2018, there was $7.9 million of unrecognized compensation expense related to 1,226,891 unvested RSAs and RSUs. This expense is expected to be recognized over a weighted average period of 2.26 years . As of March 31, 2018, 169,490 shares of RSUs were vested and remain unsettled per the original deferral elections. The following table summarizes share information about restricted stock awards and restricted stock units for the quarter ended March 31, 2018: Restricted Stock and Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Beginning of the period balance 1,319,700 $ 10.75 Shares granted 131,140 12.77 Shares settled (53,059 ) 10.75 Shares forfeited (1,400 ) 10.75 End of the period balance 1,396,381 $ 10.94 Under its Omnibus Plan, the Company reserved 3,360,000 shares of common stock for new awards. At March 31, 2018 and December 31, 2017, there were 2,559,959 and 2,689,699 shares, respectively, of common stock reserved and available for grant through restricted stock or other awards under the Omnibus Plan.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair Value Measurements Fair Value Hierarchy The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Valuations within these levels are based upon: Level 1 - Quoted market prices for identical instruments traded in active exchange markets. Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable or can be corroborated by observable market data. Level 3 - Model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect the Company’s estimates of assumptions that market participants would use on pricing the asset or liability. Valuation techniques include management judgment and estimation which may be significant. Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. Management monitors the availability of observable market data to assess the appropriate classification of assets and liabilities within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities, or total earnings. The following methods and assumptions were used to estimate the fair value of financial instruments: For cash and cash equivalents, variable rate loans, accrued interest receivable and payable, demand deposits and short-term borrowings, the carrying amount is estimated to be fair value. The fair value of accrued interest receivable/payable balances are determined using inputs and fair value measurements commensurate with the asset or liability from which the accrued interest is generated. Fair values for available for sale investment securities, which include primarily debt securities issued by U.S. government sponsored agencies, are based on quoted market prices for similar securities. The fair value of mortgage banking loans held for sale recorded at level two is determined using quoted prices for similar assets, adjusted for specific attributes of that loan. The fair value of other loans held for sale recorded at level three are determined by two methodologies. The first methodology is used for single family portfolio loans that have been designated as held for sale after having been retained on the balance sheet for at least twelve months of seasoning. To be announced ("TBA") prices for Fannie Mae mortgage backed securities are provided by a third party with prices varying depending upon the underlying loan’s weighted average coupon rate. These prices are then used to determine the fair value of the loan pool using each loan’s coupon rate. As compensating evidence, the loans are also run through a valuation model taking into consideration loan level adjustments such as loan to value ratios, property type, and an estimated servicing release premium. The second methodology is used for multifamily portfolio loans that have been designated as held for sale in relation to a planned securitization transaction. This analysis begins with a third party quoted price for a risk free government guaranteed security comprised of these same multifamily loans. This information is then input into an interest rate risk model to generate an option adjusted spread ("OAS"). This OAS is added to a credit risk spread, based primarily on the cost of the Freddie Mac guarantee fee, to generate a fair market value for the loan pool. Both of these methodologies are performed monthly and compared to the prior month analysis for reasonableness. For loans, the fair value is estimated using market quotes for similar assets or the present value of future cash flows, discounted using the current rate at which similar loans would be made to borrowers with similar credit ratings and for the same maturities and giving consideration to estimated prepayment risk and credit risk. The fair value of loans is determined utilizing estimates resulting in a Level 3 classification. Impaired loans are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price, or the fair value of the collateral (net of estimated costs to sell) if the loan is collateral dependent. The fair value of impaired loans is determined utilizing estimates resulting in a Level 3 classification. It was not practicable to determine the fair value of F HLB stock due to restrictions placed on its transferability. Typical unobservable inputs used for computing the fair value of impaired loans include adjustments made by appraisers and brokers for differences between comparable property sales, net operating income assumptions and capitalization rates. Other factors considered include geographic sales trends and the values of comparable surrounding properties as well as the condition of the subject property. In measuring the fair value of impaired collateral dependent loans, the Company assumes a 100% default rate. The valuation techniques used by third party appraisers is consistent among all loan classes held by the Company due to the similarities in the type of loan collateral. For loans measured at fair value on a non-recurring basis in the Company’s loan portfolio at March 31, 2018 and December 31, 2017 , adjustments made by appraisers and brokers to comparable property sales generally ranged from (10)% to 20% . Additionally, all appraisals are reviewed in accordance with Uniform Standards of Professional Appraisal Practice, or USPAP, by in house licensed appraisers who review not only the appraisal but independently search for comparable properties to ensure selected comparable properties and corresponding adjustments are appropriate. When necessary appraisal staff will adjust or reject an appraised value. The Company estimates that selling costs approximate 6% of the collateral fair value. Real estate owned fair values are categorized as Level 3 due to ongoing assumptions in fair value measurements related to real estate market conditions which may require adjustments made by appraisers and brokers for differences between comparable property sales, net operating income assumptions, and capitalization rates. The fair values of derivatives are based on valuation models using observable market data as of the measurement date. Fair values for fixed-rate certificates of deposit are estimated using discounted cash flow analyses using interest rates offered at each reporting date by the Company for certificates with similar remaining maturities. For deposits with no contractual maturity, the fair value is assumed to equal the carrying value. The fair value of FHLB advances is estimated based on discounting the future cash flows using the market rate currently offered. The fair value of subordinated debentures is based on an indication of value provided by a third-party broker. For senior debt, the fair value is based on an indication of value provided by a third-party broker. The fair values of commitments are estimated using the fees currently charged to enter into similar agreements and are not significant. Fair Value of Financial Instruments The carrying and estimated fair values of the Company’s financial instruments are as follows (dollars in thousands): March 31, 2018 Fair Level Measurements Using Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 74,421 $ 74,421 $ 74,421 $ — $ — Investment securities: Available for sale 538,440 538,440 — 538,440 — Held to maturity 12,237 12,013 — 12,013 — Loans receivable, net 5,294,429 5,292,414 — — 5,292,414 Accrued interest receivable 16,137 16,137 10 1,309 14,818 Federal Home Loan Bank stock 33,023 N/A N/A N/A N/A Interest Rate Cap Premium 10 10 — 10 — Financial liabilities: Customer deposits $ 4,114,026 $ 4,073,150 $ 1,715,328 $ 2,357,822 $ — FHLB advances 1,158,153 1,158,556 — 1,158,556 — Junior subordinated deferrable interest debentures 61,857 58,085 — 58,085 — Senior debt 94,195 100,819 — 100,819 — Accrued interest payable 2,329 2,329 — 2,329 — December 31, 2017 Fair Level Measurements Using Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 75,578 $ 75,578 $ 75,578 $ — $ — Investment securities: Available for sale 503,288 503,288 — 503,288 — Held to maturity 6,921 6,925 — 6,925 — Loans receivable, net 5,011,235 5,022,250 — — 5,022,250 Accrued interest receivable 14,901 14,901 27 1,320 13,554 Federal Home Loan Bank stock 27,733 N/A N/A N/A N/A Interest rate cap premium 1 1 — 1 — Financial liabilities: Customer deposits $ 3,951,238 $ 3,917,999 $ 1,708,556 $ 2,209,443 $ — FHLB advances 989,260 989,833 — 989,833 — Junior subordinated deferrable interest debentures 61,857 58,624 — 58,624 — Senior debt 94,161 104,500 — 104,500 — Accrued interest payable 1,781 1,781 — 1,781 — These estimates do not reflect any premium or discount that could result from offering the Company’s entire holdings of a particular financial instrument for sale at one time, nor do they attempt to estimate the value of anticipated future business related to the instruments. In addition, the tax ramifications related to the realization of unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of these estimates Assets and Liabilities Recorded at Fair Value The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2018 and December 31, 2017 . Recurring Basis The Company is required or permitted to record the following assets and liabilities at fair value on a recurring basis under other accounting pronouncements (dollars in thousands): March 31, 2018 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 351,492 $ — $ 351,492 $ — Agency bonds 116,515 — 116,515 — Collateralized mortgage obligations 44,970 — 44,970 — SBA securities 12,988 — 12,988 — U.S. Treasury 10 year note 971 — 971 — CRA Qualified Investment Fund (CRAIX) 11,504 — 11,504 — Total investment securities available for sale $ 538,440 — $ 538,440 — Interest rate cap premium $ 10 $ — $ 10 $ — December 31, 2017 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 312,919 $ — $ 312,919 $ — Agency bonds 117,222 — 117,222 — Collateralized mortgage obligations 47,168 — 47,168 — SBA securities 13,302 — 13,302 — U.S. Treasury 10 year note 984 — 984 — CRA Qualified Investment Fund (CRAIX) 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ — $ 503,288 $ — Interest rate cap premium $ 1 $ — $ 1 $ — There were no transfers between Level 1 and Level 2 during the three months ended March 31, 2018 and 2017 . Non-recurring Basis The Company may be required, from time to time, to measure certain assets and liabilities at fair value on a non-recurring basis. These include assets that are measured at the lower of cost or market value that were recognized at fair value which was below cost at the reporting date (dollars in thousands): December 31, 2017 Description Fair Value Level 1 Level 2 Level 3 Total Gain (Loss) or (Valuation Allowance) Single family residential $ 191 $ — $ — $ 191 $ (5 ) Total assets measured at fair value on a non-recurring basis $ 191 $ — $ — $ 191 $ (5 ) Single family residential loans measured at fair value include loans held for sale and certain impaired loans. For the three months ended March 31, 2018 , there were no charge offs on impaired loans. At December 31, 2017 , an impaired loan of $196 thousand was adjusted to a fair value of $191 thousand by recording charge-offs of $5 thousand . The fair value of impaired, collateral dependent loans is estimated at the fair value of the underlying collateral, less estimated selling costs. These loans are categorized as Level 3 due to ongoing real estate market conditions which may require the use of unobservable inputs and assumptions in fair value measurements. The company held no real estate owned at March 31, 2018 and December 31, 2017 . Management periodically obtains updated valuations of properties after foreclosure. Financial Instruments Recorded Using Fair Value Option The Company has elected the fair value option for certain of its loans held for sale. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. No loans are held for sale as of March 31, 2018 and December 31, 2017 . There was no in terest income on loans held for sale for the three months ended March 31, 2018 . For the three months ended March 31, 2017 interest income on loans held for sale totaled $32 thousand .

VARIABLE INTEREST ENTITIES (VIE

VARIABLE INTEREST ENTITIES (VIE)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES (VIE)	VARIABLE INTEREST ENTITIES ("VIE") The Company is involved with VIEs through its loan securitization activities. We evaluated our association with VIEs for consolidation purposes. Specifically, a VIE is to be consolidated by its primary beneficiary, the entity that has both the power to direct the activities that most significantly impact the VIE and a variable interest that could potentially be significant to the VIE. A variable interest is a contractual, ownership or other interest whose value fluctuates with the changes in the value of the VIE's assets and liabilities. Our assessment includes an evaluation of our continuing involvement with the VIE and the nature and significance of our variable interests. Multifamily loan securitization With respect to the securitization transaction with Freddie Mac which settled September 27, 2017, our variable interests reside with a reimbursement agreement entered into with Freddie Mac that obligates the Bank to reimburse Freddie Mac for any defaulted contractual principal and interest payments identified after the ultimate resolution of the defaulted loans. Such reimbursement obligations are not to exceed 10% of the original principal amount of the loans comprising the securitization pool. As part of the securitization transaction, the Bank released all servicing obligations and rights to Freddie Mac who was designated as the Master Servicer. As Master Servicer, Freddie Mac appointed the Bank with sub-servicing obligations, which include obligations to collect and remit payments of principal and interest, manage payments of taxes and insurance, and otherwise administer the underlying loans. The servicing of defaulted loans and foreclosed loans was assigned to a separate third party entity, independent of the Bank and Freddie Mac. Freddie Mac, in its capacity as Master Servicer, can terminate the Bank in its role as sub-servicer and direct such responsibilities accordingly. In evaluating our variable interests and continuing involvement in the VIE, we determined that we do not have the power to make significant decisions or direct the activities that most significantly impact the economic performance of the VIE's assets and liabilities. As sub-servicer of the loans, the Bank does not have the authority to make significant decisions that influence the value of the VIE's net assets and therefore, is not the primary beneficiary of the VIE. Therefore, we determined that the VIE associated with the multifamily securitization should not be included in the consolidated financial statements of the Bank. We believe that our maximum exposure to loss as a result of our involvement with the VIE associated with the securitization under the reimbursement agreement executed with Freddie Mac is 10% of the original principal amount of the loans comprising the securitization pool, or $62.6 million . Our reserve for estimated losses with respect to the reimbursement obligation totaled $1.7 million as of March 31, 2018 and December 31, 2017 , based upon our analysis of quantitative and qualitative data over the underlying loans included in the securitization pool.

LOAN SALE AND SECURITIZATION AC

LOAN SALE AND SECURITIZATION ACTIVITIES	3 Months Ended
	Mar. 31, 2018
Transfers and Servicing [Abstract]
LOAN SALE AND SECURITIZATION ACTIVITIES	LOAN SALE AND SECURITIZATION ACTIVITIES The Company sells originated and acquired loans as part of its business operations and overall management of liquidity, assets and liabilities, and financial performance. The transfer of loans is executed in securitization or sale transactions. With respect to sale transactions, the Company's continuing involvement may or may not include ongoing servicing responsibilities and general representations and warranties. With respect to securitization sales, the Company executed its first transaction on September 27, 2017 with Freddie Mac. The transaction involved the sale of $626 million in originated multifamily loans through a Freddie Mac sponsored transaction. The Company's continuing involvement includes sub-servicing responsibilities, general representations and warranties, and reimbursement obligations. As sub-servicer for Freddie Mac, the Bank is required to maintain a minimum net worth in accordance with generally accepted accounting principles of not less than $2.0 million . If Luther Burbank Savings’ capital were to fall below this threshold, Freddie Mac would have the authority to terminate and assume the Bank’s sub-servicing duties. At March 31, 2018 , the Bank’s actual net worth was $693 million . Servicing responsibilities on loan sales generally include obligations to collect and remit payments of principal and interest, provide foreclosure services, manage payments of tax and insurance, and otherwise administer the underlying loans. In connection with the securitization transaction, Freddie Mac was designated as the Master Servicer and appointed Luther Burbank Savings to perform sub-servicing responsibilities, which generally include the servicing responsibilities described above with exception to the servicing of foreclosed or defaulted loans. The overall management, servicing, and resolution of defaulted loans and foreclosed loans are separately designated to the special servicer, a third party institution that is independent of the Master Servicer and the Bank. The Master Servicer has the right to terminate the Bank in its role as sub-servicer and direct such responsibilities accordingly. General representations and warranties associated with loan sales and securitization sales require the Bank to uphold various assertions that pertain to the underlying loans at the time of the transaction, including, but not limited to, compliance with relevant laws and regulations, absence of fraud, enforcement of liens, no environmental damages, and maintenance of relevant environmental insurance. Such representations and warranties are limited to those that do not meet the quality represented at the transaction date and do not pertain to a decline in value or future payment defaults. In circumstances where the Bank breaches its representations and warranties, the Bank would generally be required to cure such instances through a repurchase or substitution of the subject loan(s). With respect to the securitization transaction, the Bank also has continuing involvement through a reimbursement agreement executed with Freddie Mac. To the extent the ultimate resolution of defaulted loans results in contractual principal and interest payments that are deficient, the Bank is obligated to reimburse Freddie Mac for such amounts, not to exceed 10% of the original principal amount of the loans comprising the securitization pool at the closing date of September 27, 2017. We recognized a liability of $1.7 million as of March 31, 2018 for our exposure to the reimbursement agreement with Freddie Mac. The following table provides cash flows associated with the Company's loan sale activities: Three Months Ended March 31, (In thousands) 2018 2017 Proceeds from loan sales $ — $ 24,691 Servicing fees 407 108 During the three months ended March 31, 2018 there were no sales of originated loans. During the three months ended March 31, 2017 there were $24.7 million of sales of originated loans resulting in a net loss of of $163 thousand . The following table provides information about the loans transferred through sales or securitization and not recorded on our Consolidated Statement of Financial Condition, for which the Company's continuing involvement includes sub-servicing or servicing responsibilities and/or reimbursement obligations (dollars in thousands): Single Family Residential Multifamily Residential March 31, 2018 Principal balance of loans $ 28,830 $ 732,848 Loans 90+ days past due — — Charge-offs, net — — December 31, 2017 Principal balance of loans 29,772 753,909 Loans 90+ days past due — — Charge-offs, net — —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Financial Instruments With Off-Balance-Sheet Risk The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments represent commitments to originate fixed and variable rate loans and lines of credit and loans in process, and involve, to varying degrees, elements of interest rate risk and credit risk in excess of the amount recognized in the Company’s consolidated statement of financial condition. The Company’s exposure to credit loss in the event of nonperformance by the other party for commitments to extend credit and lines of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments to originate loans and lines of credit as it does for on-balance-sheet instruments. Commitments to fund loans and home equity lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have expiration dates or other termination clauses. In addition, external market forces may impact the probability of commitments being exercised; therefore, total commitments outstanding do not necessarily represent future cash requirements. At March 31, 2018 and December 31, 2017 , the Company had outstanding commitments of approximately $114.8 million and $65.8 million , respectively, for real estate loans. Unfunded loan commitment reserves totaled $330 thousand and $197 thousand at March 31, 2018 and December 31, 2017 , respectively. Operating Leases The Company leases various office premises under long-term operating lease agreements. These leases expire between 2018 and 2028 , with certain leases containing either three , five or ten year renewal options. At March 31, 2018 , minimum commitments under these non-cancellable leases with initial or remaining terms of one year or more are as follows (dollars in thousands): April 1 - December 31, 2018 $ 4,021 Year ending December 31, 2019 5,117 Year ending December 31, 2020 3,723 Year ending December 31, 2021 3,267 Year ending December 31, 2022 2,419 Thereafter 1,864 $ 20,411 Rent expense under operating leases was $1.1 million and $1.1 million for the three months ended March 31, 2018 and 2017 , respectively. Contingencies The Company is involved in legal proceedings arising in the normal course of business. In the opinion of management, the outcomes of such proceedings will not have a material adverse effect on the Company’s financial position or results of operations. Correspondent Banking Agreements The Company maintains funds on deposit with other federally insured financial institutions under correspondent banking agreements. These balances are insured by the FDIC up to $250 thousand. At March 31, 2018 and December 31, 2017 , the Company had $856 thousand and $845 thousand , respectively, in cash balances exceeding the insured amounts.

NATURE OF OPERATIONS (Policies)

NATURE OF OPERATIONS (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all footnotes as would be necessary for a fair presentation of financial position, results of operations and comprehensive income, changes in stockholders’ equity and cash flows in conformity with accounting principles generally accepted in the United States of America (“GAAP”). However, these interim unaudited consolidated financial statements reflect all adjustments (consisting solely of normal recurring adjustments and accruals) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and comprehensive income, changes in stockholders’ equity and cash flows for the interim periods presented. These unaudited consolidated financial statements have been prepared on a basis consistent with, and should be read in conjunction with, the audited consolidated financial statements as of and for the year ended December 31, 2017, and the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the SEC, under the Securities and Exchange Act of 1934, (the “Exchange Act”). The unaudited consolidated financial statements include the accounts of the Company and the Bank. All intercompany accounts and transactions have been eliminated. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results of operations that may be expected for any other interim period or for the year ending December 31, 2018. The Company’s accounting and reporting policies conform to GAAP and to general practices within the banking industry.
Use of Estimates	Use of Estimates Management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions affect the amounts reported in the unaudited consolidated financial statements and the disclosures provided, and actual results could differ.
New Accounting Pronouncements	Accounting Standard Adopted in 2018 FASB ASU 2018-02 In February 2018, the FASB provided guidance for the reclassification of the effect of remeasuring deferred tax balances related to items within accumulated other comprehensive income to retained earnings resulting from the Tax Cuts and Jobs Act of 2017. ASU 2018-02 is effective for all entities for fiscal years beginning after December 31, 2018, including interim periods therein, with early adoption permitted. As permitted, the Company early adopted ASU 2018-02 during the quarter ended March 31, 2018 and reclassified $1.8 million of stranded tax amounts within accumulated other comprehensive income to retained earnings. Accounting Standards Pending Adoption FASB ASU 2016-01 In January 2016, the FASB issued guidance to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. This Update contains several provisions, including but not limited to 1) requiring equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income; 2) simplifying the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; 3) eliminating the requirement to disclose the method(s) and significant assumptions used to estimate fair value; and 4) requiring separate presentation of financial assets and liabilities by measurement category and form of financial asset on the statement of financial condition or the accompanying notes to the financial statements. The Update also changes certain financial statement disclosure requirements, including requiring disclosures of the fair value of financial instruments be made on the basis of exit price. The Update is effective for public business entities ("PBEs") for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. As an emerging growth company, the Company expects to adopt this guidance on January 1, 2019, assuming the Company remains an emerging growth company through such date. The adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. FASB ASU 2017-04 In January 2017, the FASB issued guidance related to the goodwill impairment test, which eliminates step 2 in the process. Under the amendments, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized, however, should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The Update is effective for PBEs that are SEC filers for annual periods or any interim goodwill impairment tests beginning after December 15, 2019 using a prospective transition method and early adoption is permitted. As early adoption is permitted, the Company expects to adopt the guidance on December 31, 2018. The adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition.
Fair Value Measurements	Fair Value Measurements Fair Value Hierarchy The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Valuations within these levels are based upon: Level 1 - Quoted market prices for identical instruments traded in active exchange markets. Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable or can be corroborated by observable market data. Level 3 - Model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect the Company’s estimates of assumptions that market participants would use on pricing the asset or liability. Valuation techniques include management judgment and estimation which may be significant. Because broadly traded markets do not exist for most of the Company’s financial instruments, the fair value calculations attempt to incorporate the effect of current market conditions at a specific time. These determinations are subjective in nature, involve uncertainties and matters of significant judgment and do not include tax ramifications; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Company. Management monitors the availability of observable market data to assess the appropriate classification of assets and liabilities within the fair value hierarchy. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments from one fair value level to another. In such instances, the transfer is reported at the beginning of the reporting period. Management evaluates the significance of transfers between levels based upon the nature of the financial instrument and size of the transfer relative to total assets, total liabilities, or total earnings. The following methods and assumptions were used to estimate the fair value of financial instruments: For cash and cash equivalents, variable rate loans, accrued interest receivable and payable, demand deposits and short-term borrowings, the carrying amount is estimated to be fair value. The fair value of accrued interest receivable/payable balances are determined using inputs and fair value measurements commensurate with the asset or liability from which the accrued interest is generated. Fair values for available for sale investment securities, which include primarily debt securities issued by U.S. government sponsored agencies, are based on quoted market prices for similar securities. The fair value of mortgage banking loans held for sale recorded at level two is determined using quoted prices for similar assets, adjusted for specific attributes of that loan. The fair value of other loans held for sale recorded at level three are determined by two methodologies. The first methodology is used for single family portfolio loans that have been designated as held for sale after having been retained on the balance sheet for at least twelve months of seasoning. To be announced ("TBA") prices for Fannie Mae mortgage backed securities are provided by a third party with prices varying depending upon the underlying loan’s weighted average coupon rate. These prices are then used to determine the fair value of the loan pool using each loan’s coupon rate. As compensating evidence, the loans are also run through a valuation model taking into consideration loan level adjustments such as loan to value ratios, property type, and an estimated servicing release premium. The second methodology is used for multifamily portfolio loans that have been designated as held for sale in relation to a planned securitization transaction. This analysis begins with a third party quoted price for a risk free government guaranteed security comprised of these same multifamily loans. This information is then input into an interest rate risk model to generate an option adjusted spread ("OAS"). This OAS is added to a credit risk spread, based primarily on the cost of the Freddie Mac guarantee fee, to generate a fair market value for the loan pool. Both of these methodologies are performed monthly and compared to the prior month analysis for reasonableness. For loans, the fair value is estimated using market quotes for similar assets or the present value of future cash flows, discounted using the current rate at which similar loans would be made to borrowers with similar credit ratings and for the same maturities and giving consideration to estimated prepayment risk and credit risk. The fair value of loans is determined utilizing estimates resulting in a Level 3 classification. Impaired loans are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate, except that as a practical expedient, the Company may measure impairment based on a loan’s observable market price, or the fair value of the collateral (net of estimated costs to sell) if the loan is collateral dependent. The fair value of impaired loans is determined utilizing estimates resulting in a Level 3 classification. It was not practicable to determine the fair value of F HLB stock due to restrictions placed on its transferability. Typical unobservable inputs used for computing the fair value of impaired loans include adjustments made by appraisers and brokers for differences between comparable property sales, net operating income assumptions and capitalization rates. Other factors considered include geographic sales trends and the values of comparable surrounding properties as well as the condition of the subject property. In measuring the fair value of impaired collateral dependent loans, the Company assumes a 100% default rate. The valuation techniques used by third party appraisers is consistent among all loan classes held by the Company due to the similarities in the type of loan collateral. For loans measured at fair value on a non-recurring basis in the Company’s loan portfolio at March 31, 2018 and December 31, 2017 , adjustments made by appraisers and brokers to comparable property sales generally ranged from (10)% to 20% . Additionally, all appraisals are reviewed in accordance with Uniform Standards of Professional Appraisal Practice, or USPAP, by in house licensed appraisers who review not only the appraisal but independently search for comparable properties to ensure selected comparable properties and corresponding adjustments are appropriate. When necessary appraisal staff will adjust or reject an appraised value. The Company estimates that selling costs approximate 6% of the collateral fair value. Real estate owned fair values are categorized as Level 3 due to ongoing assumptions in fair value measurements related to real estate market conditions which may require adjustments made by appraisers and brokers for differences between comparable property sales, net operating income assumptions, and capitalization rates. The fair values of derivatives are based on valuation models using observable market data as of the measurement date. Fair values for fixed-rate certificates of deposit are estimated using discounted cash flow analyses using interest rates offered at each reporting date by the Company for certificates with similar remaining maturities. For deposits with no contractual maturity, the fair value is assumed to equal the carrying value. The fair value of FHLB advances is estimated based on discounting the future cash flows using the market rate currently offered. The fair value of subordinated debentures is based on an indication of value provided by a third-party broker. For senior debt, the fair value is based on an indication of value provided by a third-party broker. The fair values of commitments are estimated using the fees currently charged to enter into similar agreements and are not significant.

NATURE OF OPERATIONS (Tables)

NATURE OF OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The factors used in the earnings per share computation follow: Three Months Ended March 31, (Dollars in thousands, except per share amounts) 2018 2017 Net income $ 11,102 $ 12,295 Weighted average basic common shares outstanding 56,190,970 42,000,000 Add: Dilutive effects of assumed vesting of restricted stock 564,184 — Weighted average diluted common shares outstanding 56,755,154 42,000,000 Income per common share: Basic $ 0.20 $ 0.29 Diluted $ 0.20 $ 0.29 Anti-dilutive shares not included in calculation of diluted earnings per share — —

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	December 31, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 93,403 $ (805 ) $ 182,343 $ (2,522 ) $ 275,746 $ (3,327 ) Agency bonds 9,851 (148 ) 104,340 (3,065 ) 114,191 (3,213 ) Collateralized mortgage obligations 1,959 (1 ) — — 1,959 (1 ) SBA securities — — 13,302 (125 ) 13,302 (125 ) U.S. Treasury 10 year note — — 984 (26 ) 984 (26 ) CRA Qualified Investment Fund (CRAIX) 4,948 (52 ) 6,745 (255 ) 11,693 (307 ) Total available for sale investment securities $ 110,161 $ (1,006 ) $ 307,714 $ (5,993 ) $ 417,875 $ (6,999 ) The following tables summarize the gross unrealized losses and fair value of available for sale investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (dollars in thousands): March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 145,877 $ (1,555 ) $ 177,062 $ (3,878 ) $ 322,939 $ (5,433 ) Agency bonds 9,755 (246 ) 103,732 (3,673 ) 113,487 (3,919 ) SBA securities — — 12,988 (137 ) 12,988 (137 ) U.S. Treasury 10 year note — — 971 (39 ) 971 (39 ) CRA Qualified Investment Fund (CRAIX) 4,869 (131 ) 6,635 (364 ) 11,504 (495 ) Total available for sale investment securities $ 160,501 $ (1,932 ) $ 301,388 $ (8,091 ) $ 461,889 $ (10,023 ) The following tables summarize the amortized cost and the estimated fair value of available for sale investment securities as of the dates indicated (dollars in thousands): March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 356,772 $ 152 $ (5,432 ) $ 351,492 Agency bonds 120,405 29 (3,919 ) 116,515 Collateralized mortgage obligations 44,707 263 — 44,970 SBA securities 13,125 — (137 ) 12,988 U.S. Treasury 10 year note 1,010 — (39 ) 971 CRA Qualified Investment Fund (CRAIX) 12,000 — (496 ) 11,504 Total available for sale investment securities $ 548,019 $ 444 $ (10,023 ) $ 538,440 December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Debt Securities: Government Sponsored Entities: Mortgage-backed securities $ 316,134 $ 112 $ (3,327 ) $ 312,919 Agency bonds 120,405 30 (3,213 ) 117,222 Collateralized mortgage obligations 46,920 249 (1 ) 47,168 SBA securities 13,427 — (125 ) 13,302 U.S. Treasury 10 year note 1,010 — (26 ) 984 CRA Qualified Investment Fund (CRAIX) 12,000 — (307 ) 11,693 Total available for sale investment securities $ 509,896 $ 391 $ (6,999 ) $ 503,288
Schedule of Held-to-maturity Securities	The following tables summarize the amortized cost and estimated fair value of held to maturity investment securities as of the dates indicated (dollars in thousands): March 31, 2018 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 11,956 $ 33 $ (257 ) $ 11,732 Other investments 281 — — 281 Total held to maturity investment securities $ 12,237 $ 33 $ (257 ) $ 12,013 December 31, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 6,636 $ 73 $ (69 ) $ 6,640 Other investments 285 — — 285 Total held to maturity investment securities $ 6,921 $ 73 $ (69 ) $ 6,925 The following tables summarize the gross unrecognized losses and fair value of held to maturity investment securities, aggregated by investment category and length of time that individual securities have been in a continuous unrecognized loss position (dollars in thousands): March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 7,625 $ (123 ) $ 2,943 $ (134 ) $ 10,568 $ (257 ) December 31, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses Debt securities: Government Sponsored Entities: Mortgage-backed securities $ 1,047 $ (4 ) $ 3,029 $ (65 ) $ 4,076 $ (69 )
Schedule of Debt Maturities of Available-for-sale and Held-to-maturity Securities	The following table summarizes the scheduled maturities of available-for-sale and held-to-maturity investment securities as of March 31, 2018 (dollars in thousands): March 31, 2018 Amortized Cost Fair Value Available-for-sale investments securities One to five years $ 120,296 $ 116,341 Five to ten years 1,329 1,334 Beyond ten years 414,394 409,261 No maturity 12,000 11,504 Total available-for-sale investment securities $ 548,019 $ 538,440 Held-to-maturity investment securities beyond ten years $ 12,237 $ 12,013 Total held-to-maturity investment securities $ 12,237 $ 12,013

LOANS RECEIVABLE (Tables)

LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Loans Receivable	Loans receivable consist of the following (dollars in thousands): March 31, December 31, Permanent mortgages on: Multifamily residential $ 3,076,356 $ 2,887,438 Single family residential 2,042,624 1,957,546 Commercial real estate 125,445 112,492 Construction and land loans on: Single family residential 36,320 41,165 Non-Mortgage (‘‘NM’’) loans: 100 50 Total 5,280,845 4,998,691 Deferred loan costs, net 45,564 42,856 Allowance for loan losses (31,980 ) (30,312 ) Loans receivable held for investment, net $ 5,294,429 $ 5,011,235
Schedule Allowance for Loan Losses	The following table summarizes activity in and the allocation of the allowance for loan losses by portfolio segment (dollars in thousands): Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Three months ended March 31, 2018 Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Provision for loan losses 1,245 167 63 25 1,500 Charge-offs — — — — — Recoveries — 3 90 75 168 Ending balance allocated to portfolio segments $ 19,833 $ 9,214 $ 1,887 $ 1,046 $ 31,980 Three months ended March 31, 2017 Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,478 $ 11,559 $ 1,823 $ 1,438 $ 33,298 Provision for loan losses 1,395 (1,465 ) 127 252 309 Charge-offs — — — — — Recoveries — 3 — 89 92 Ending balance allocated to portfolio segments $ 19,873 $ 10,097 $ 1,950 $ 1,779 $ 33,699 The following tables summarize the allocation of the allowance for loan losses by impairment methodology (dollars in thousands): March 31, 2018 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 19,833 9,189 1,887 1,046 31,955 Ending balance $ 19,833 $ 9,214 $ 1,887 $ 1,046 $ 31,980 Loans: Ending balance: individually evaluated for impairment $ 1,564 $ 10,211 $ — $ — $ 11,775 Ending balance: collectively evaluated for impairment 3,074,792 2,032,413 125,445 36,420 5,269,070 Ending balance $ 3,076,356 $ 2,042,624 $ 125,445 $ 36,420 $ 5,280,845 December 31, 2017 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM, and Construction Total Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 18,588 9,019 1,734 946 30,287 Ending balance $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Loans: Ending balance: individually evaluated for impairment $ 2,246 $ 8,991 $ 656 $ — $ 11,893 Ending balance: collectively evaluated for impairment 2,885,192 1,948,555 111,836 41,215 4,986,798 Ending balance $ 2,887,438 $ 1,957,546 $ 112,492 $ 41,215 $ 4,998,691
Schedule of Loan Portfolio by Internal Risk Indicators	The following tables summarize the loan portfolio allocated by management’s internal risk ratings at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM and Construction Total Grade: Pass $ 3,030,678 $ 2,015,783 $ 121,203 $ 34,635 $ 5,202,299 Watch 32,854 15,357 3,267 — 51,478 Special mention 5,755 6,001 — 1,785 13,541 Substandard 7,069 5,483 975 — 13,527 Total $ 3,076,356 $ 2,042,624 $ 125,445 $ 36,420 $ 5,280,845 December 31, 2017 Multifamily Residential Single Family Residential Commercial Real Estate Land, NM and Construction Total Grade: Pass $ 2,847,720 $ 1,923,960 $ 106,539 $ 41,215 $ 4,919,434 Watch 25,354 20,178 4,315 — 49,847 Special mention 6,569 9,025 — — 15,594 Substandard 7,795 4,383 1,638 — 13,816 Total $ 2,887,438 $ 1,957,546 $ 112,492 $ 41,215 $ 4,998,691
Schedule or Past Due Loans Receivable	The following tables summarize an aging analysis of the loan portfolio by the time past due at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 30 Days 60 Days 90+ Days Non-accrual Current Total Loans: Multifamily residential $ — $ — $ — $ 1,564 $ 3,074,792 $ 3,076,356 Single family residential 2,841 — — 5,397 2,034,386 2,042,624 Commercial real estate — 2,104 — — 123,341 125,445 Land, NM, and construction — — — — 36,420 36,420 Total $ 2,841 $ 2,104 $ — $ 6,961 $ 5,268,939 $ 5,280,845 December 31, 2017 30 Days 60 Days 90+ Days Non-accrual Current Total Loans: Multifamily residential $ 2,751 $ — $ — $ 2,246 $ 2,882,441 $ 2,887,438 Single family residential 4,870 3,364 — 4,135 1,945,177 1,957,546 Commercial real estate — — — 656 111,836 112,492 Land, NM, and construction — — — — 41,215 41,215 Total $ 7,621 $ 3,364 $ — $ 7,037 $ 4,980,669 $ 4,998,691
Schedule of Impaired Loans Receivables	The following table summarizes information related to impaired loans for the three months ended March 31, 2018 and 2017 (dollars in thousands): Three Months Ended March 31, 2018 2017 Average Recorded Investment Interest Income Cash Basis Interest Average Recorded Investment Interest Income Cash Basis Interest With no related allowance recorded: Multifamily residential $ 2,070 $ — $ — $ 1,524 $ — $ — Single family residential 8,165 37 — 6,353 48 — Commercial real estate 487 — — 832 — — 10,722 37 — 8,709 48 — With an allowance recorded: Single family residential 1,718 17 — 989 8 — 1,718 17 — 989 8 — Total: Multifamily residential 2,070 — — 1,524 — — Single family residential 9,883 54 — 7,342 56 — Commercial real estate 487 — — 832 — — $ 12,440 $ 54 $ — $ 9,698 $ 56 $ — The following table summarizes information related to impaired loans at March 31, 2018 and December 31, 2017 (dollars in thousands): As of March 31, 2018 As of December 31, 2017 Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Multifamily residential $ 1,564 $ 1,686 $ — $ 2,246 $ 2,545 $ — Single family residential 9,257 9,488 — 8,029 8,237 — Commercial real estate — — — 656 798 — 10,821 11,174 — 10,931 11,580 — With an allowance recorded: Single family residential 954 954 25 962 962 25 954 954 25 962 962 25 Total: Multifamily residential 1,564 1,686 — 2,246 2,545 — Single family residential 10,211 10,442 25 8,991 9,199 25 Commercial real estate — — — 656 798 — $ 11,775 $ 12,128 $ 25 $ 11,893 $ 12,542 $ 25
Schedule of Troubled Debt Restructurings	The following table summarizes the recorded investment related to troubled debt restructurings at March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, December 31, Troubled Debt Restructurings: Multifamily residential $ — $ 667 Single family residential 5,594 5,653 Total recorded investment in troubled debt restructurings $ 5,594 $ 6,320

NONPERFORMING ASSETS (Tables)

NONPERFORMING ASSETS (Tables)	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Schedule of Nonperforming Assets	The Company’s nonperforming assets and trends related to those assets at March 31, 2018 and December 31, 2017 are indicated below (dollars in thousands): March 31, December 31, Non-accrual loans: Multifamily residential $ 1,564 $ 2,246 Single family residential 5,397 4,135 Commercial real estate — 656 Total non-accrual loans 6,961 7,037 Real estate owned — — Total nonperforming assets $ 6,961 $ 7,037 Contractual interest not accrued during the quarter $ 12 $ 10

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	3 Months Ended
	Mar. 31, 2018
Transfers and Servicing [Abstract]
Schedule of Mortgage Loans Serviced for Others	The principal balances of these loans are as follows (dollars in thousands): March 31, December 31, Mortgage loans serviced for: FHLMC $ 609,254 $ 625,545 Colorado Federal Savings 40,049 40,236 First National Bank of Alaska 34,589 36,050 Provident Bank 20,390 20,855 Pacific Coast Bankers Bank 19,996 20,112 American River Bank 19,539 20,718 Exchange Bank 17,861 20,165 Total mortgage loans serviced for others $ 761,678 $ 783,681
Schedule of Changes in Servicing Assets	Activity for mortgage servicing rights are as follows (dollars in thousands): Three Months Ended March 31, 2018 2017 Beginning Balance $ 4,255 $ 1,099 Additions — 83 Disposals — — Change in fair value due to changes in assumptions — — Other changes in fair value (131 ) (29 ) Ending balance $ 4,124 $ 1,153

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
Schedule of Deposits	A summary of deposits at March 31, 2018 and December 31, 2017 is as follows (dollars in thousands): March 31, December 31, Certificate accounts $ 2,398,698 $ 2,242,682 Money market savings 1,407,825 1,389,425 NOW accounts 196,767 203,159 Money market checking 81,893 85,073 Commercial checking 28,843 30,899 $ 4,114,026 $ 3,951,238
Schedule of Certificate Account Maturities	Maturities of the Company’s certificate accounts at March 31, 2018 are summarized as follows (dollars in thousands): April 1 - December 31, 2018 $ 1,467,831 Year ending December 31, 2019 560,064 Year ending December 31, 2020 278,666 Year ending December 31, 2021 51,750 Year ending December 31, 2022 35,530 Thereafter 4,857 $ 2,398,698

FEDERAL HOME LOAN BANK AND FE33

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES (Tables)	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
Schedule of FHLB Advances	The following table summarizes payments over the next five years as of March 31, 2018 (dollars in thousands): April 1 - December 31, 2018 $ 531,000 Year ending December 31, 2019 275,000 Year ending December 31, 2020 150,000 Year ending December 31, 2021 150,600 Year ending December 31, 2022 — Thereafter 51,553 $ 1,158,153 The following table discloses the Bank’s outstanding advances from the Federal Home Loan Bank of San Francisco (dollars in thousands): March 31, December 31, FHLB fixed rate short-term borrowings, interest rates from 1.78% to 1.94%, weighted average rate of 1.90%, and maturity dates of April and June 2018 as of March 31, 2018 $ 480,500 $ 411,600 FHLB fixed rate long-term borrowings, interest rates from 1.55% to 7.69%, weighted average rate of 2.09%, maturity dates between July 2018 and August 2032 as of March 31, 2018 527,653 427,660 FHLB variable rate long-term borrowings, interest rates from 1.68% to 1.89%, weighted average rate of 1.82%, and maturity dates between July 2018 and January 2020 as of March 31, 2018 150,000 150,000 $ 1,158,153 $ 989,260

JUNIOR SUBORDINATED DEFERRABL34

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Outstanding Trust Securities	The following table is a summary of the outstanding Trust Securities and Notes at March 31, 2018 and December 31, 2017 (dollars in thousands): Issuer Issuance Date Amount of Trust Securities Amount of Notes Redemption Date Maturity Date Luther Burbank Statutory Trust I March 2006 $ 40,000 $ 41,238 June 15, 2011 June 15, 2036 Quarterly adjustments - three month Libor plus 1.38% (3.505% and 2.968% at 3/31/2018 and 12/31/2017, respectively) Luther Burbank Statutory Trust II March 2007 $ 20,000 $ 20,619 June 15, 2012 June 15, 2037 Quarterly adjustments - three month Libor plus 1.62% (3.745% and 3.208% at 3/31/2018 and 12/31/2017, respectively)

SENIOR DEBT (Tables)

SENIOR DEBT (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes information on these notes as of March 31, 2018 and December 31, 2017 (dollars in thousands): March 31, 2018 December 31, 2017 Principal Unamortized debt issuance costs Principal Unamortized debt issuance costs Senior unsecured term notes, fixed interest rate 6.50%, does not amortize and matures on September 30, 2024 (discount is based on imputed interest rate of 6.70%) $ 95,000 $ 805 $ 95,000 $ 839

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The provision for income tax for the three months ended March 31, 2018 and 2017 differs from the statutory federal rate of 21% and 35%, respectively, due to the following: Three months ended March 31, 2018 2017 Statutory U.S. Federal Income Tax $ 3,208 $ 4,452 Increase (decrease) resulting from: Benefit of S Corporation status — (4,452 ) State Taxes 1,316 425 Other (349 ) — Provision for income taxes $ 4,175 $ 425

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	3 Months Ended
	Mar. 31, 2018
Banking and Thrift [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The Company’s and Bank’s actual capital amounts and regulatory capital ratios are presented as follows (dollars in thousands): Actual Minimum Regulatory Requirement Minimum Capital Adequacy with Capital Buffer Minimum Regulatory Requirement for "Well- Capitalized" Institution under prompt corrective action provisions Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Corporation As of March 31, 2018 Tier 1 Leverage Ratio $ 619,209 10.57 % $ 241,612 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 557,352 15.55 % 161,342 4.50 % $ 228,568 6.38 % N/A N/A Tier 1 Risk-Based Capital Ratio 619,209 17.27 % 215,123 6.00 % 282,348 7.88 % N/A N/A Total Risk-Based Capital Ratio 653,367 18.22 % 286,830 8.00 % 354,056 9.88 % N/A N/A As of December 31, 2017 Tier 1 Leverage Ratio $ 615,010 11.26 % $ 218,499 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 553,153 16.05 % 155,107 4.50 % $ 198,192 5.75 % N/A N/A Tier 1 Risk-Based Capital Ratio 615,010 17.84 % 206,809 6.00 % 249,894 7.25 % N/A N/A Total Risk-Based Capital Ratio 647,421 18.78 % 275,746 8.00 % 318,831 9.25 % N/A N/A Actual Minimum Regulatory Minimum Capital Adequacy with Capital Buffer Minimum Regulatory Requirement for "Well- Capitalized" Institution under prompt corrective action Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Savings As of March 31, 2018 Tier 1 Leverage Ratio $ 696,502 11.90 % $ 241,507 4.00 % N/A N/A $ 301,884 5.00 % Common Equity Tier 1 Risk-Based Ratio 696,502 19.44 % 161,225 4.50 % $ 228,402 6.38 % 232,880 6.50 % Tier 1 Risk-Based Capital Ratio 696,502 19.44 % 214,966 6.00 % 282,143 7.88 % 286,622 8.00 % Total Risk-Based Capital Ratio 730,660 20.39 % 286,622 8.00 % 353,799 9.88 % 358,277 10.00 % As of December 31, 2017 Tier 1 Leverage Ratio $ 685,434 12.54 % $ 218,585 4.00 % N/A N/A $ 273,232 5.00 % Common Equity Tier 1 Risk-Based Ratio 685,434 19.90 % 154,980 4.50 % $ 198,030 5.75 % 223,859 6.50 % Tier 1 Risk-Based Capital Ratio 685,434 19.90 % 206,640 6.00 % 249,689 7.25 % 275,519 8.00 % Total Risk-Based Capital Ratio 717,845 20.84 % 275,519 8.00 % 318,569 9.25 % 344,399 10.00 %

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	Summary information about the interest-rate caps designated as cash flow hedges as of year-end is as follows (dollars in thousands): March 31, December 31, Notional amounts $ 100,000 $ 100,000 Weighted average rate on FHLB advances 1.78 % 1.42 % Weighted average cap rate 2.55 % 2.55 % Weighted average original maturity 4.0 years 4.0 years Weighted average remaining maturity 0.6 years 0.9 years Unrealized losses $ (614 ) $ (796 )

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Restricted Stock Activity	The following table summarizes share information about restricted stock awards and restricted stock units for the quarter ended March 31, 2018: Restricted Stock and Restricted Stock Units Outstanding Weighted Average Grant Date Fair Value Beginning of the period balance 1,319,700 $ 10.75 Shares granted 131,140 12.77 Shares settled (53,059 ) 10.75 Shares forfeited (1,400 ) 10.75 End of the period balance 1,396,381 $ 10.94

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and LIabilities	The carrying and estimated fair values of the Company’s financial instruments are as follows (dollars in thousands): March 31, 2018 Fair Level Measurements Using Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 74,421 $ 74,421 $ 74,421 $ — $ — Investment securities: Available for sale 538,440 538,440 — 538,440 — Held to maturity 12,237 12,013 — 12,013 — Loans receivable, net 5,294,429 5,292,414 — — 5,292,414 Accrued interest receivable 16,137 16,137 10 1,309 14,818 Federal Home Loan Bank stock 33,023 N/A N/A N/A N/A Interest Rate Cap Premium 10 10 — 10 — Financial liabilities: Customer deposits $ 4,114,026 $ 4,073,150 $ 1,715,328 $ 2,357,822 $ — FHLB advances 1,158,153 1,158,556 — 1,158,556 — Junior subordinated deferrable interest debentures 61,857 58,085 — 58,085 — Senior debt 94,195 100,819 — 100,819 — Accrued interest payable 2,329 2,329 — 2,329 — December 31, 2017 Fair Level Measurements Using Carrying Amount Fair Value Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 75,578 $ 75,578 $ 75,578 $ — $ — Investment securities: Available for sale 503,288 503,288 — 503,288 — Held to maturity 6,921 6,925 — 6,925 — Loans receivable, net 5,011,235 5,022,250 — — 5,022,250 Accrued interest receivable 14,901 14,901 27 1,320 13,554 Federal Home Loan Bank stock 27,733 N/A N/A N/A N/A Interest rate cap premium 1 1 — 1 — Financial liabilities: Customer deposits $ 3,951,238 $ 3,917,999 $ 1,708,556 $ 2,209,443 $ — FHLB advances 989,260 989,833 — 989,833 — Junior subordinated deferrable interest debentures 61,857 58,624 — 58,624 — Senior debt 94,161 104,500 — 104,500 — Accrued interest payable 1,781 1,781 — 1,781 —
Schedule of Fair Value of Assets Measured on a Recurring Basis	The Company is required or permitted to record the following assets and liabilities at fair value on a recurring basis under other accounting pronouncements (dollars in thousands): March 31, 2018 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 351,492 $ — $ 351,492 $ — Agency bonds 116,515 — 116,515 — Collateralized mortgage obligations 44,970 — 44,970 — SBA securities 12,988 — 12,988 — U.S. Treasury 10 year note 971 — 971 — CRA Qualified Investment Fund (CRAIX) 11,504 — 11,504 — Total investment securities available for sale $ 538,440 — $ 538,440 — Interest rate cap premium $ 10 $ — $ 10 $ — December 31, 2017 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 312,919 $ — $ 312,919 $ — Agency bonds 117,222 — 117,222 — Collateralized mortgage obligations 47,168 — 47,168 — SBA securities 13,302 — 13,302 — U.S. Treasury 10 year note 984 — 984 — CRA Qualified Investment Fund (CRAIX) 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ — $ 503,288 $ — Interest rate cap premium $ 1 $ — $ 1 $ —
Schedule of Fair Value of Liabilities Measured on a Recurring Basis	The Company is required or permitted to record the following assets and liabilities at fair value on a recurring basis under other accounting pronouncements (dollars in thousands): March 31, 2018 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 351,492 $ — $ 351,492 $ — Agency bonds 116,515 — 116,515 — Collateralized mortgage obligations 44,970 — 44,970 — SBA securities 12,988 — 12,988 — U.S. Treasury 10 year note 971 — 971 — CRA Qualified Investment Fund (CRAIX) 11,504 — 11,504 — Total investment securities available for sale $ 538,440 — $ 538,440 — Interest rate cap premium $ 10 $ — $ 10 $ — December 31, 2017 Description Fair Value Level 1 Level 2 Level 3 Financial Assets: Available for sale investment securities: Government Sponsored Entities: Mortgage-backed securities $ 312,919 $ — $ 312,919 $ — Agency bonds 117,222 — 117,222 — Collateralized mortgage obligations 47,168 — 47,168 — SBA securities 13,302 — 13,302 — U.S. Treasury 10 year note 984 — 984 — CRA Qualified Investment Fund (CRAIX) 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ — $ 503,288 $ — Interest rate cap premium $ 1 $ — $ 1 $ —
Schedule of Fair Value of Assets Measured on a Nonrecurring Basis	These include assets that are measured at the lower of cost or market value that were recognized at fair value which was below cost at the reporting date (dollars in thousands): December 31, 2017 Description Fair Value Level 1 Level 2 Level 3 Total Gain (Loss) or (Valuation Allowance) Single family residential $ 191 $ — $ — $ 191 $ (5 ) Total assets measured at fair value on a non-recurring basis $ 191 $ — $ — $ 191 $ (5 )

LOAN SALE AND SECURITIZATION 41

LOAN SALE AND SECURITIZATION ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2018
Transfers and Servicing [Abstract]
Schedule of Cash Flows From Loan Sale Activities	The following table provides cash flows associated with the Company's loan sale activities: Three Months Ended March 31, (In thousands) 2018 2017 Proceeds from loan sales $ — $ 24,691 Servicing fees 407 108
Schedule of Loans Transfered Through Sale or Securitization	The following table provides information about the loans transferred through sales or securitization and not recorded on our Consolidated Statement of Financial Condition, for which the Company's continuing involvement includes sub-servicing or servicing responsibilities and/or reimbursement obligations (dollars in thousands): Single Family Residential Multifamily Residential March 31, 2018 Principal balance of loans $ 28,830 $ 732,848 Loans 90+ days past due — — Charge-offs, net — — December 31, 2017 Principal balance of loans 29,772 753,909 Loans 90+ days past due — — Charge-offs, net — —

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Lease Maturities	At March 31, 2018 , minimum commitments under these non-cancellable leases with initial or remaining terms of one year or more are as follows (dollars in thousands): April 1 - December 31, 2018 $ 4,021 Year ending December 31, 2019 5,117 Year ending December 31, 2020 3,723 Year ending December 31, 2021 3,267 Year ending December 31, 2022 2,419 Thereafter 1,864 $ 20,411

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details) $ / shares in Units, $ in Thousands	Dec. 12, 2017USD ($)$ / sharesshares	Apr. 27, 2017$ / sharesshares	Mar. 31, 2018USD ($)shares	Dec. 31, 2017shares	Apr. 26, 2017$ / sharesshares
Accounting Policies [Abstract]
Stock split shares issued per previous share		200
Common stock shares issued | shares		42,000,000	56,561,055	56,422,662	210,000
Common stock shares authorized | shares		100,000,000	100,000,000	100,000,000	500,000
Par value (in usd per share) | $ / shares		$ 0			$ 8
Class of Stock [Line Items]
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income			$ 0
IPO
Class of Stock [Line Items]
Shares issued | shares	13,972,500
Price per share of shares issued (in usd per share) | $ / shares	$ 10.75
Proceeds from shares issued	$ 138,300
ASU 2018-02
Class of Stock [Line Items]
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income			(1,800)
Retained Earnings
Class of Stock [Line Items]
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income			$ 1,750

NATURE OF OPERATIONS - Earnings

NATURE OF OPERATIONS - Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accounting Policies [Abstract]
Net income	$ 11,102	$ 12,295
Weighted average common shares outstanding - basic	56,190,970	42,000,000
Add: Dilutive effects of assumed vesting of restricted stock	564,184	0
Weighted average common shares outstanding - diluted	56,755,154	42,000,000
Basic earnings per common share (in usd per share)	$ 0.20	$ 0.29
Diluted earnings per common share (in usd per share)	$ 0.20	$ 0.29
Anti-dilutive shares not included in calculation of diluted earnings per share	0	0

INVESTMENT SECURITIES - Availab

INVESTMENT SECURITIES - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 548,019	$ 509,896
Gross Unrealized Gains	444	391
Gross Unrealized Losses	10,023	6,999
Estimated Fair Value	538,440	503,288
Fair Value
Less than 12 Months	160,501	110,161
12 Months or More	301,388	307,714
Total	461,889	417,875
Unrealized Losses
Less than 12 Months	(1,932)	(1,006)
12 Months or More	(8,091)	(5,993)
Total	(10,023)	(6,999)
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	356,772	316,134
Gross Unrealized Gains	152	112
Gross Unrealized Losses	(5,432)	(3,327)
Estimated Fair Value	351,492	312,919
Fair Value
Less than 12 Months	145,877	93,403
12 Months or More	177,062	182,343
Total	322,939	275,746
Unrealized Losses
Less than 12 Months	(1,555)	(805)
12 Months or More	(3,878)	(2,522)
Total	(5,433)	(3,327)
Agency bonds
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	120,405	120,405
Gross Unrealized Gains	29	30
Gross Unrealized Losses	(3,919)	(3,213)
Estimated Fair Value	116,515	117,222
Fair Value
Less than 12 Months	9,755	9,851
12 Months or More	103,732	104,340
Total	113,487	114,191
Unrealized Losses
Less than 12 Months	(246)	(148)
12 Months or More	(3,673)	(3,065)
Total	(3,919)	(3,213)
Collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	44,707	46,920
Gross Unrealized Gains	263	249
Gross Unrealized Losses	0	(1)
Estimated Fair Value	44,970	47,168
Fair Value
Less than 12 Months		1,959
12 Months or More		0
Total		1,959
Unrealized Losses
Less than 12 Months		(1)
12 Months or More		0
Total		(1)
SBA securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	13,125	13,427
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(137)	(125)
Estimated Fair Value	12,988	13,302
Fair Value
Less than 12 Months	0	0
12 Months or More	12,988	13,302
Total	12,988	13,302
Unrealized Losses
Less than 12 Months	0	0
12 Months or More	(137)	(125)
Total	(137)	(125)
U.S. Treasury 10 year note
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,010	1,010
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(39)	(26)
Estimated Fair Value	971	984
Fair Value
Less than 12 Months	0	0
12 Months or More	971	984
Total	971	984
Unrealized Losses
Less than 12 Months	0	0
12 Months or More	(39)	(26)
Total	(39)	(26)
CRA Qualified Investment Fund (CRAIX)
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,000	12,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(496)	(307)
Estimated Fair Value	11,504	11,693
Fair Value
Less than 12 Months	4,869	4,948
12 Months or More	6,635	6,745
Total	11,504	11,693
Unrealized Losses
Less than 12 Months	(131)	(52)
12 Months or More	(364)	(255)
Total	$ (495)	$ (307)

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) $ in Thousands	Jan. 01, 2018USD ($)	Mar. 31, 2018USD ($)security	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)security	Dec. 31, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
Unrealized loss on available-for-sale investment securities | $		$ 553,751	$ 407,506	$ 549,745	$ 404,375
Provision for income taxes | $		4,175	425
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income | $		$ 0
Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Number of securities held		92		87
Number of securities held in a loss position		72		68
Number of securities held in a loss position longer than 12 months		46		30
Agency bonds
Schedule of Available-for-sale Securities [Line Items]
Number of securities held		13		13
Number of securities held in a loss position		12		12
Number of securities held in a loss position longer than 12 months		11		11
Collateralized mortgage obligations
Schedule of Available-for-sale Securities [Line Items]
Number of securities held		15		15
Number of securities held in a loss position longer than 12 months		0		1
SBA securities
Schedule of Available-for-sale Securities [Line Items]
Number of securities held		4		4
Number of securities held in a loss position longer than 12 months		4		4
CRA Qualified Investment Fund (CRAIX)
Schedule of Available-for-sale Securities [Line Items]
Number of securities held		3		3
Number of securities held in a loss position		3		3
Number of securities held in a loss position longer than 12 months		2		2
U.S. Treasury 10 year note
Schedule of Available-for-sale Securities [Line Items]
Number of securities held in a loss position longer than 12 months		1		1
Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Securities
Schedule of Available-for-sale Securities [Line Items]
Unrealized loss on available-for-sale investment securities | $		$ (6,813)	$ (3,786)	$ (6,214)	$ (4,374)
Unrealized loss on available-for-sale investment securities tax asset | $		2,800		394
Provision for income taxes | $				1,500
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income | $	$ 1,500	$ 1,529
Accumulated Other Comprehensive (Loss) Income (Net of Taxes)
Schedule of Available-for-sale Securities [Line Items]
Unrealized loss on available-for-sale investment securities tax asset | $				$ 1,900

INVESTMENT SECURITIES - Held-to

INVESTMENT SECURITIES - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 12,237	$ 6,921
Gross Unrecognized Gains	33	73
Gross Unrecognized Losses	(257)	(69)
Estimated Fair Value	12,013	6,925
Mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	11,956	6,636
Gross Unrecognized Gains	33	73
Gross Unrecognized Losses	(257)	(69)
Estimated Fair Value	11,732	6,640
Fair Value
Less than 12 Months	7,625	1,047
12 Months or More	2,943	3,029
Total	10,568	4,076
Unrecognized Losses
Less than 12 Months	(123)	(4)
12 Months or More	(134)	(65)
Total	(257)	(69)
Other investments
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	281	285
Gross Unrecognized Gains	0	0
Gross Unrecognized Losses	0	0
Estimated Fair Value	$ 281	$ 285

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Investment Securities Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortized Cost
One to five years	$ 120,296
Five to ten years	1,329
Beyond ten years	414,394
No maturity	12,000
Amortized Cost	548,019	$ 509,896
Fair Value
One to five years	116,341
Five to ten years	1,334
Beyond ten years	409,261
No maturity	11,504
Fair Value	538,440	503,288
Amortized Cost
Held-to-maturity investment securities beyond ten years	12,237
Amortized Cost	12,237	6,921
Fair Value
Held-to-maturity investment securities beyond ten years	12,013
Total held-to-maturity investment securities	$ 12,013	$ 6,925

LOANS RECEIVABLE - Loans Receiv

LOANS RECEIVABLE - Loans Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	$ 5,280,845	$ 4,998,691
Total	5,280,845	4,998,691
Deferred loan costs, net	45,564	42,856
Allowance for loan losses	(31,980)	(30,312)
Loans receivable held for investment, net	5,294,429	5,011,235
Multifamily residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	3,076,356	2,887,438
Multifamily residential | Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	3,076,356	2,887,438
Single family residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,042,624	1,957,546
Single family residential | Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	2,042,624	1,957,546
Single family residential | Construction and land loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	36,320	41,165
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	125,445	112,492
Commercial real estate | Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	125,445	112,492
Land, NM, and Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	36,420	41,215
Land, NM, and Construction | Non-Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	$ 100	$ 50

LOANS RECEIVABLE - Allowance fo

LOANS RECEIVABLE - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance allocated to portfolio segments	$ 30,312	$ 33,298
Provision for loan losses	1,500	309
Charge-offs	0	0
Recoveries	168	92
Ending balance allocated to portfolio segments	31,980	33,699
Ending allowance balance allocated to:
Loans individually evaluated for impairment			$ 25	$ 25
Loans collectively evaluated for impairment			31,955	30,287
Ending balance	30,312	33,298	31,980	30,312
Loans:
Ending balance: individually evaluated for impairment			11,775	11,893
Ending balance: collectively evaluated for impairment			5,269,070	4,986,798
Ending balance			5,280,845	4,998,691
Multifamily residential
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance allocated to portfolio segments	18,588	18,478
Provision for loan losses	1,245	1,395
Charge-offs	0	0
Recoveries	0	0
Ending balance allocated to portfolio segments	19,833	19,873
Ending allowance balance allocated to:
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			19,833	18,588
Ending balance	18,588	18,478	19,833	18,588
Loans:
Ending balance: individually evaluated for impairment			1,564	2,246
Ending balance: collectively evaluated for impairment			3,074,792	2,885,192
Ending balance			3,076,356	2,887,438
Single family residential
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance allocated to portfolio segments	9,044	11,559
Provision for loan losses	167	(1,465)
Charge-offs	0	0
Recoveries	3	3
Ending balance allocated to portfolio segments	9,214	10,097
Ending allowance balance allocated to:
Loans individually evaluated for impairment			25	25
Loans collectively evaluated for impairment			9,189	9,019
Ending balance	9,044	11,559	9,214	9,044
Loans:
Ending balance: individually evaluated for impairment			10,211	8,991
Ending balance: collectively evaluated for impairment			2,032,413	1,948,555
Ending balance			2,042,624	1,957,546
Commercial real estate
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance allocated to portfolio segments	1,734	1,823
Provision for loan losses	63	127
Charge-offs	0	0
Recoveries	90	0
Ending balance allocated to portfolio segments	1,887	1,950
Ending allowance balance allocated to:
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			1,887	1,734
Ending balance	1,734	1,823	1,887	1,734
Loans:
Ending balance: individually evaluated for impairment			0	656
Ending balance: collectively evaluated for impairment			125,445	111,836
Ending balance			125,445	112,492
Land, NM, and Construction
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance allocated to portfolio segments	946	1,438
Provision for loan losses	25	252
Charge-offs	0	0
Recoveries	75	89
Ending balance allocated to portfolio segments	1,046	1,779
Ending allowance balance allocated to:
Loans individually evaluated for impairment			0	0
Loans collectively evaluated for impairment			1,046	946
Ending balance	$ 946	$ 1,438	1,046	946
Loans:
Ending balance: individually evaluated for impairment			0	0
Ending balance: collectively evaluated for impairment			36,420	41,215
Ending balance			$ 36,420	$ 41,215

LOANS RECEIVABLE - Portfolio Al

LOANS RECEIVABLE - Portfolio Allocated by Internal Risk Ratings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Total	$ 5,280,845	$ 4,998,691
Pass
Financing Receivable, Recorded Investment [Line Items]
Total	5,202,299	4,919,434
Watch
Financing Receivable, Recorded Investment [Line Items]
Total	51,478	49,847
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	13,541	15,594
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	13,527	13,816
Multifamily residential
Financing Receivable, Recorded Investment [Line Items]
Total	3,076,356	2,887,438
Multifamily residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	3,030,678	2,847,720
Multifamily residential | Watch
Financing Receivable, Recorded Investment [Line Items]
Total	32,854	25,354
Multifamily residential | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	5,755	6,569
Multifamily residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	7,069	7,795
Single family residential
Financing Receivable, Recorded Investment [Line Items]
Total	2,042,624	1,957,546
Single family residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	2,015,783	1,923,960
Single family residential | Watch
Financing Receivable, Recorded Investment [Line Items]
Total	15,357	20,178
Single family residential | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	6,001	9,025
Single family residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	5,483	4,383
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total	125,445	112,492
Commercial real estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	121,203	106,539
Commercial real estate | Watch
Financing Receivable, Recorded Investment [Line Items]
Total	3,267	4,315
Commercial real estate | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	0	0
Commercial real estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	975	1,638
Land, NM, and Construction
Financing Receivable, Recorded Investment [Line Items]
Total	36,420	41,215
Land, NM, and Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	34,635	41,215
Land, NM, and Construction | Watch
Financing Receivable, Recorded Investment [Line Items]
Total	0	0
Land, NM, and Construction | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	1,785	0
Land, NM, and Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 0	$ 0

LOANS RECEIVABLE - Aging Analys

LOANS RECEIVABLE - Aging Analysis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	$ 6,961	$ 7,037
Current	5,268,939	4,980,669
Total	5,280,845	4,998,691
30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,841	7,621
60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,104	3,364
90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Multifamily residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	1,564	2,246
Current	3,074,792	2,882,441
Total	3,076,356	2,887,438
Multifamily residential | 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	2,751
Multifamily residential | 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Multifamily residential | 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Single family residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	5,397	4,135
Current	2,034,386	1,945,177
Total	2,042,624	1,957,546
Single family residential | 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,841	4,870
Single family residential | 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	3,364
Single family residential | 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	0	656
Current	123,341	111,836
Total	125,445	112,492
Commercial real estate | 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Commercial real estate | 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,104	0
Commercial real estate | 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Land, NM, and Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	0	0
Current	36,420	41,215
Total	36,420	41,215
Land, NM, and Construction | 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Land, NM, and Construction | 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Land, NM, and Construction | 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 0	$ 0

LOANS RECEIVABLE - Impaired Loa

LOANS RECEIVABLE - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Recorded Investment
With no related allowance recorded:	$ 10,821		$ 10,931
With an allowance recorded:	954		962
Total:	11,775		11,893
Unpaid Principal Balance
With no related allowance recorded:	11,174		11,580
With an allowance recorded:	954		962
Total:	12,128		12,542
Related Allowance	25		25
Average Recorded Investment
With no related allowance recorded:	10,722	$ 8,709
With an allowance recorded:	1,718	989
Total:	12,440	9,698
Interest Income
With no related allowance recorded:	37	48
With an allowance recorded:	17	8
Total:	54	56
Cash Basis Interest
With no related allowance recorded:	0	0
With an allowance recorded:	0	0
Total:	0	0
Multifamily residential
Recorded Investment
With no related allowance recorded:	1,564		2,246
Total:	1,564		2,246
Unpaid Principal Balance
With no related allowance recorded:	1,686		2,545
Total:	1,686		2,545
Related Allowance	0		0
Average Recorded Investment
With no related allowance recorded:	2,070	1,524
Total:	2,070	1,524
Interest Income
With no related allowance recorded:	0	0
Total:	0	0
Cash Basis Interest
With no related allowance recorded:	0	0
Total:	0	0
Single family residential
Recorded Investment
With no related allowance recorded:	9,257		8,029
With an allowance recorded:	954		962
Total:	10,211		8,991
Unpaid Principal Balance
With no related allowance recorded:	9,488		8,237
With an allowance recorded:	954		962
Total:	10,442		9,199
Related Allowance	25		25
Average Recorded Investment
With no related allowance recorded:	8,165	6,353
With an allowance recorded:	1,718	989
Total:	9,883	7,342
Interest Income
With no related allowance recorded:	37	48
With an allowance recorded:	17	8
Total:	54	56
Cash Basis Interest
With no related allowance recorded:	0	0
With an allowance recorded:	0	0
Total:	0	0
Commercial real estate
Recorded Investment
With no related allowance recorded:	0		656
Total:	0		656
Unpaid Principal Balance
With no related allowance recorded:	0		798
Total:	0		798
Related Allowance	0		$ 0
Average Recorded Investment
With no related allowance recorded:	487	832
Total:	487	832
Interest Income
With no related allowance recorded:	0	0
Total:	0	0
Cash Basis Interest
With no related allowance recorded:	0	0
Total:	$ 0	$ 0

LOANS RECEIVABLE - Troubled Deb

LOANS RECEIVABLE - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Financing Receivable, Modifications [Line Items]
Total recorded investment	$ 5,594	$ 6,320
Related Allowance	25	25
Modification of Terms or Payment Deferral
Financing Receivable, Modifications [Line Items]
Total recorded investment	3,100		$ 2,800
Multifamily residential
Financing Receivable, Modifications [Line Items]
Total recorded investment	0	667
Related Allowance	0	0
Single family residential
Financing Receivable, Modifications [Line Items]
Total recorded investment	5,594	5,653
Related Allowance	$ 25	$ 25

NONPERFORMING ASSETS (Details)

NONPERFORMING ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	$ 6,961		$ 7,037
Real estate owned	0		0
Total nonperforming assets	6,961		7,037
Contractual interest not accrued during the quarter	12	$ 10
Multifamily residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	1,564		2,246
Single family residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	5,397		4,135
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	$ 0		$ 656

MORTGAGE SERVICING RIGHTS - Mor

MORTGAGE SERVICING RIGHTS - Mortgage Loans Seviced for Others (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	$ 761,678	$ 783,681
FHLMC
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	609,254	625,545
Colorado Federal Savings
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	40,049	40,236
First National Bank of Alaska
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	34,589	36,050
Provident Bank
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	20,390	20,855
Pacific Coast Bankers Bank
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	19,996	20,112
American River Bank
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	19,539	20,718
Exchange Bank
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	$ 17,861	$ 20,165

MORTGAGE SERVICING RIGHTS - M57

MORTGAGE SERVICING RIGHTS - Mortgage Servicing Rights Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning Balance	$ 4,255	$ 1,099
Additions	0	83
Disposals	0	0
Change in fair value due to changes in assumptions	0	0
Other changes in fair value	(131)	(29)
Ending balance	$ 4,124	$ 1,153

MORTGAGE SERVICING RIGHTS - Nar

MORTGAGE SERVICING RIGHTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Custodial account balances maintained in connection with serviced loans	$ 4.8	$ 5.2
Discount rate used to calculate fair value of MSRs	10.00%	10.00%
Default rate used to calculate fair value of MSRs	5.00%	5.00%
Minimum
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Prepayment speed rate used to calculate fair value of MSRs	6.00%	5.80%
Maximum
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement [Line Items]
Prepayment speed rate used to calculate fair value of MSRs	70.40%	70.40%

DEPOSITS - Deposits (Details)

DEPOSITS - Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deposits [Abstract]
Certificate accounts	$ 2,398,698	$ 2,242,682
Money market savings	1,407,825	1,389,425
NOW accounts	196,767	203,159
Money market checking	81,893	85,073
Commercial checking	28,843	30,899
Deposits	$ 4,114,026	$ 3,951,238

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Banking and Thrift [Abstract]
Certificates of deposit with a denomination of $100,000 or More	$ 2,100	$ 1,900
Certificates of deposit that meet or exceed FDIC insurance limit	1,200	1,100
Brokered deposits	$ 295.9	$ 278.4

DEPOSITS - Maturities (Details)

DEPOSITS - Maturities (Details) $ in Thousands	Mar. 31, 2018USD ($)
Maturities of Time Deposits, Twelve months ending March 31,
2,019	$ 1,467,831
2,020	560,064
2,021	278,666
2,022	51,750
2,023	35,530
Thereafter	4,857
Time Deposits	$ 2,398,698

FEDERAL HOME LOAN BANK AND FE62

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Borrowing capacity based on pledged loans to the FRB and FHLB	$ 869.5	$ 1,100
Maximum short-term debt outstanding during period	495.7
Average short-term debt outstanding during period	$ 457.4
Weighted average interest rate	1.61%
FHLB Advances
Short-term Debt [Line Items]
Mortgage loans pledged as collateral	$ 2,300	2,400
FRB Advances
Short-term Debt [Line Items]
Mortgage loans pledged as collateral	$ 394.9	$ 379

FEDERAL HOME LOAN BANK AND FE63

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - FHLB Advances (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	$ 1,158,153	$ 989,260
FHLB of San Francisco
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	1,158,153	989,260
FHLB of San Francisco | FHLB Fixed Rate Short-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	$ 480,500	411,600
FHLB of San Francisco | FHLB Fixed Rate Short-term Borrowings | Minimum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.78%
FHLB of San Francisco | FHLB Fixed Rate Short-term Borrowings | Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.94%
FHLB of San Francisco | FHLB Fixed Rate Short-term Borrowings | Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.90%
FHLB of San Francisco | FHLB Fixed Rate Long-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	$ 527,653	427,660
FHLB of San Francisco | FHLB Fixed Rate Long-term Borrowings | Minimum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.55%
FHLB of San Francisco | FHLB Fixed Rate Long-term Borrowings | Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	7.69%
FHLB of San Francisco | FHLB Fixed Rate Long-term Borrowings | Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.09%
FHLB of San Francisco | FHLB Variable Rate Long-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Federal Home Loan Bank advances	$ 150,000	$ 150,000
FHLB of San Francisco | FHLB Variable Rate Long-term Borrowings | Minimum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.68%
FHLB of San Francisco | FHLB Variable Rate Long-term Borrowings | Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.89%
FHLB of San Francisco | FHLB Variable Rate Long-term Borrowings | Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	1.82%

FEDERAL HOME LOAN BANK AND FE64

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - Schedule of Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
Outstanding advances from FHLB	$ 1,158,153	$ 989,260
FHLB of San Francisco
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
April 1 - December 31, 2018	531,000
Year ending December 31, 2019	275,000
Year ending December 31, 2020	150,000
Year ending December 31, 2021	150,600
Year ending December 31, 2022	0
Thereafter	51,553
Outstanding advances from FHLB	$ 1,158,153	$ 989,260

JUNIOR SUBORDINATED DEFERRABL65

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES - Narrative (Details) - Trusts $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)trust
Investment [Line Items]
Investment in common securities | $	$ 1.9
Number of wholly owned trusts | trust	2

JUNIOR SUBORDINATED DEFERRABL66

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES - Schedule of Trusts (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amount of Notes	$ 61,857	$ 61,857
Luther Burbank Statutory Trust I | Trusts
Debt Instrument [Line Items]
Amount of Notes	$ 41,238
Luther Burbank Statutory Trust I | Trust Preferred Securities Subject to Mandatory Redemption | Trusts
Debt Instrument [Line Items]
Amount of Trust Securities	40,000
Effective interest rate	3.5045%	2.968%
Luther Burbank Statutory Trust I | Trust Preferred Securities Subject to Mandatory Redemption | Trusts | LIBOR
Debt Instrument [Line Items]
Quarterly rate adjustment	1.38%
Luther Burbank Statutory Trust II | Trusts
Debt Instrument [Line Items]
Amount of Notes	$ 20,619
Luther Burbank Statutory Trust II | Trust Preferred Securities Subject to Mandatory Redemption | Trusts
Debt Instrument [Line Items]
Amount of Trust Securities	20,000
Effective interest rate	3.7445%	3.208%
Luther Burbank Statutory Trust II | Trust Preferred Securities Subject to Mandatory Redemption | Trusts | LIBOR
Debt Instrument [Line Items]
Quarterly rate adjustment	1.62%

SENIOR DEBT - Narrative (Detail

SENIOR DEBT - Narrative (Details) - Senior Unsecured Term Notes - USD ($) $ in Thousands	1 Months Ended
	Sep. 30, 2014	Mar. 31, 2018	Dec. 31, 2017
Senior Unsecured Term Notes, 2009-2011
Debt Instrument [Line Items]
Debt retired	$ 62,700
Senior Unsecured Term Notes, September 2014
Debt Instrument [Line Items]
Principal	95,000	$ 95,000	$ 95,000
Prepayment penalty on retired debt	243
Proceeds kept as additional paid-in capital	28,000
Proceeds kept as cash reserves	$ 2,700

SENIOR DEBT - Schedule of Debt

SENIOR DEBT - Schedule of Debt (Details) - Senior Unsecured Term Notes, September 2014 - Senior Unsecured Term Notes - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2014
Debt Instrument [Line Items]
Principal	$ 95,000	$ 95,000	$ 95,000
Fixed interest rate	6.50%
Imputed interest rate	6.70%

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Statutory U.S. Federal Income Tax	$ 3,208	$ 4,452
Benefit of S Corporation status	0	(4,452)
State Taxes	1,316	425
Other	(349)	0
Total income tax provision	$ 4,175	$ 425

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended	11 Months Ended
	Mar. 31, 2018	Nov. 30, 2017
Effective Income Tax Rate
Blended federal and state income tax rate	29.56%
California | State
Effective Income Tax Rate
Statutory state income tax rate		3.50%

REGULATORY MATTERS (Details)

REGULATORY MATTERS (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Luther Burbank Corporation
Actual
Tier 1 Leverage Ratio	$ 619,209	$ 615,010
Tier 1 Leverage Ratio	10.57%	11.26%
Common Equity Tier 1 Risk-Based Ratio	$ 557,352	$ 553,153
Common Equity Tier 1 Risk-Based Ratio	15.55%	16.05%
Tier 1 Risk-Based Capital Ratio	$ 619,209	$ 615,010
Tier 1 Risk-Based Capital Ratio	17.27%	17.84%
Total Risk-Based Capital Ratio	$ 653,367	$ 647,421
Total Risk-Based Capital Ratio	18.22%	18.78%
Minimum Regulatory Requirement
Tier 1 Leverage Ratio	$ 241,612	$ 218,499
Tier 1 Leverage Ratio	4.00%	4.00%
Common Equity Tier 1 Risk-Based Ratio	$ 161,342	$ 155,107
Common Equity Tier 1 Risk-Based Ratio	4.50%	4.50%
Tier 1 Risk-Based Capital Ratio	$ 215,123	$ 206,809
Tier 1 Risk-Based Capital Ratio	6.00%	6.00%
Total Risk-Based Capital Ratio	$ 286,830	$ 275,746
Total Risk-Based Capital Ratio	8.00%	8.00%
Minimum Capital Adequacy with Capital Buffer
Common Equity Tier 1 Risk-Based Ratio	$ 228,568	$ 198,192
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio	$ 282,348	$ 249,894
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio	$ 354,056	$ 318,831
Total Risk-Based Capital Ratio	9.88%	9.25%
Luther Burbank Savings
Actual
Tier 1 Leverage Ratio	$ 696,502	$ 685,434
Tier 1 Leverage Ratio	11.90%	12.54%
Common Equity Tier 1 Risk-Based Ratio	$ 696,502	$ 685,434
Common Equity Tier 1 Risk-Based Ratio	19.44%	19.90%
Tier 1 Risk-Based Capital Ratio	$ 696,502	$ 685,434
Tier 1 Risk-Based Capital Ratio	19.44%	19.90%
Total Risk-Based Capital Ratio	$ 730,660	$ 717,845
Total Risk-Based Capital Ratio	20.39%	20.84%
Minimum Regulatory Requirement
Tier 1 Leverage Ratio	$ 241,507	$ 218,585
Tier 1 Leverage Ratio	4.00%	4.00%
Common Equity Tier 1 Risk-Based Ratio	$ 161,225	$ 154,980
Common Equity Tier 1 Risk-Based Ratio	4.50%	4.50%
Tier 1 Risk-Based Capital Ratio	$ 214,966	$ 206,640
Tier 1 Risk-Based Capital Ratio	6.00%	6.00%
Total Risk-Based Capital Ratio	$ 286,622	$ 275,519
Total Risk-Based Capital Ratio	8.00%	8.00%
Minimum Capital Adequacy with Capital Buffer
Common Equity Tier 1 Risk-Based Ratio	$ 228,402	$ 198,030
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio	$ 282,143	$ 249,689
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio	$ 353,799	$ 318,569
Total Risk-Based Capital Ratio	9.88%	9.25%
Minimum Regulatory Requirement for Well- Capitalized Institution under prompt corrective action provisions
Tier 1 Leverage Ratio	$ 301,884	$ 273,232
Tier 1 Leverage Ratio	5.00%	5.00%
Common Equity Tier 1 Risk-Based Ratio	$ 232,880	$ 223,859
Common Equity Tier 1 Risk-Based Ratio	6.50%	6.50%
Tier 1 Risk-Based Capital Ratio	$ 286,622	$ 275,519
Tier 1 Risk-Based Capital Ratio	8.00%	8.00%
Total Risk-Based Capital Ratio	$ 358,277	$ 344,399
Total Risk-Based Capital Ratio	10.00%	10.00%

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - Interest Rate Cap - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Derivative [Line Items]
Notional amounts			$ 100,000
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Notional amounts	$ 100,000		$ 100,000
Amortization	$ 173	$ 77

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Interest Rate Cap
Derivative [Line Items]
Notional amounts		$ 100,000
Cash Flow Hedging | Designated as Hedging Instrument
Derivative [Line Items]
Weighted average rate on FHLB advances	1.78%	1.42%
Weighted average cap rate	2.55%	2.55%
Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Cap
Derivative [Line Items]
Notional amounts	$ 100,000	$ 100,000
Weighted average original maturity	4 years	4 years
Weighted average remaining maturity	7 months 15 days	10 months 15 days
Unrealized losses	$ (614)	$ (796)

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	Dec. 12, 2017	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for new awards	3,360,000
Common stock available for grant		2,559,959	2,689,699
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock-based compensation expense		$ 1
Unrecognized compensation expense		$ 7.9
Period of recognition for unrecognized compensation expense		2 years 3 months 3 days
Restricted stock awards or units granted		1,226,891
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vested		169,490
Non-employee directors | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Employees | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years

STOCK BASED COMPENSATION - Awar

STOCK BASED COMPENSATION - Awards Activity (Details) - RSUs and RSAs	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Restricted Stock and Restricted Stock Units Outstanding
Beginning of the period balance | shares	1,319,700
Shares granted | shares	131,140
Shares settled | shares	(53,059)
Shares forfeited | shares	(1,400)
End of the period balance | shares	1,396,381
Weighted Average Grant Date Fair Value
Beginning of the period balance (in usd per share) | $ / shares	$ 10.75
Shares granted | $ / shares	12.77
Shares settled | $ / shares	10.75
Shares forfeited | $ / shares	10.75
End of the period balance (in usd per share) | $ / shares	$ 10.94

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Loans receivable	$ 5,294,429,000	$ 5,011,235,000
Interest income on loans held for sale	0	32,000
Fair Value | Nonrecurring Basis
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Loans receivable, fair value		191,000
Single family residential | Fair Value | Permanent mortgages | Nonrecurring Basis
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Loans receivable		196,000
Loans receivable, fair value		191,000
Charge-offs recorded	$ 0	$ 5,000
Impaired Financing Receivables
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assumed default rate	100.00%
Approximate selling cost	6.00%
Impaired Financing Receivables | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Adjustments made by appraisers	(10.00%)
Impaired Financing Receivables | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Adjustments made by appraisers	20.00%

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investment securities:
Available for sale	$ 538,440	$ 503,288
Held to maturity	12,013	6,925
Carrying Amount
Financial assets:
Cash and cash equivalents	74,421	75,578
Investment securities:
Available for sale	538,440	503,288
Held to maturity	12,237	6,921
Loans receivable, net	5,294,429	5,011,235
Accrued interest receivable	16,137	14,901
Federal Home Loan Bank stock	33,023	27,733
Interest Rate Cap Premium	10	1
Financial liabilities:
Customer deposits	4,114,026	3,951,238
FHLB advances	1,158,153	989,260
Junior subordinated deferrable interest debentures	61,857	61,857
Senior debt	94,195	94,161
Accrued interest payable	2,329	1,781
Fair Value
Financial assets:
Cash and cash equivalents	74,421	75,578
Investment securities:
Available for sale	538,440	503,288
Held to maturity	12,013	6,925
Loans receivable, net	5,292,414	5,022,250
Accrued interest receivable	16,137	14,901
Interest Rate Cap Premium	10	1
Financial liabilities:
Customer deposits	4,073,150	3,917,999
FHLB advances	1,158,556	989,833
Junior subordinated deferrable interest debentures	58,085	58,624
Senior debt	100,819	104,500
Accrued interest payable	2,329	1,781
Fair Value | Level 1
Financial assets:
Cash and cash equivalents	74,421	75,578
Investment securities:
Available for sale	0	0
Held to maturity	0	0
Loans receivable, net	0	0
Accrued interest receivable	10	27
Interest Rate Cap Premium	0	0
Financial liabilities:
Customer deposits	1,715,328	1,708,556
FHLB advances	0	0
Junior subordinated deferrable interest debentures	0	0
Senior debt	0	0
Accrued interest payable	0	0
Fair Value | Level 2
Financial assets:
Cash and cash equivalents	0	0
Investment securities:
Available for sale	538,440	503,288
Held to maturity	12,013	6,925
Loans receivable, net	0	0
Accrued interest receivable	1,309	1,320
Interest Rate Cap Premium	10	1
Financial liabilities:
Customer deposits	2,357,822	2,209,443
FHLB advances	1,158,556	989,833
Junior subordinated deferrable interest debentures	58,085	58,624
Senior debt	100,819	104,500
Accrued interest payable	2,329	1,781
Fair Value | Level 3
Financial assets:
Cash and cash equivalents	0	0
Investment securities:
Available for sale	0	0
Held to maturity	0	0
Loans receivable, net	5,292,414	5,022,250
Accrued interest receivable	14,818	13,554
Interest Rate Cap Premium	0	0
Financial liabilities:
Customer deposits	0	0
FHLB advances	0	0
Junior subordinated deferrable interest debentures	0	0
Senior debt	0	0
Accrued interest payable	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Recorded at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	$ 538,440	$ 503,288
Nonrecurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		0
Nonrecurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		0
Nonrecurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		191
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	538,440	503,288
Interest Rate Cap Premium	10	1
Fair Value | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Interest Rate Cap Premium	0	0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	538,440	503,288
Interest Rate Cap Premium	10	1
Fair Value | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Interest Rate Cap Premium	0	0
Fair Value | Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	538,440	503,288
Interest Rate Cap Premium	10	1
Fair Value | Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Interest Rate Cap Premium	0	0
Fair Value | Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	538,440	503,288
Interest Rate Cap Premium	10	1
Fair Value | Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Interest Rate Cap Premium	0	0
Fair Value | Recurring Basis | Mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	351,492	312,919
Fair Value | Recurring Basis | Mortgage-backed securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | Mortgage-backed securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	351,492	312,919
Fair Value | Recurring Basis | Mortgage-backed securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	116,515	117,222
Fair Value | Recurring Basis | Agency bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | Agency bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	116,515	117,222
Fair Value | Recurring Basis | Agency bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | Collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	44,970	47,168
Fair Value | Recurring Basis | Collateralized mortgage obligations | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | Collateralized mortgage obligations | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	44,970	47,168
Fair Value | Recurring Basis | Collateralized mortgage obligations | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | SBA securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	12,988	13,302
Fair Value | Recurring Basis | SBA securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | SBA securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	12,988	13,302
Fair Value | Recurring Basis | SBA securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | U.S. Treasury 10 year note
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	971	984
Fair Value | Recurring Basis | U.S. Treasury 10 year note | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | U.S. Treasury 10 year note | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	971	984
Fair Value | Recurring Basis | U.S. Treasury 10 year note | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | CRA Qualified Investment Fund (CRAIX)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	11,504	11,693
Fair Value | Recurring Basis | CRA Qualified Investment Fund (CRAIX) | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	0	0
Fair Value | Recurring Basis | CRA Qualified Investment Fund (CRAIX) | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	11,504	11,693
Fair Value | Recurring Basis | CRA Qualified Investment Fund (CRAIX) | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale	$ 0	0
Fair Value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		191
Total Gain (Loss) or (Valuation Allowance) | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		(5)
Single family residential | Permanent mortgages | Nonrecurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		0
Single family residential | Permanent mortgages | Nonrecurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		0
Single family residential | Permanent mortgages | Nonrecurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		191
Single family residential | Permanent mortgages | Fair Value | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		191
Single family residential | Permanent mortgages | Total Gain (Loss) or (Valuation Allowance) | Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value on a non-recurring basis		$ (5)

VARIABLE INTEREST ENTITIES (V79

VARIABLE INTEREST ENTITIES (VIE) (Details) - Variable Interest Entity, Not Primary Beneficiary $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Variable Interest Entity [Line Items]
Maximum loss exposure as a percentage of original principal amount	10.00%
Maximum loss exposure	$ 62.6
Reserved for estimated losses	$ 1.7

LOAN SALE AND SECURITIZATION 80

LOAN SALE AND SECURITIZATION ACTIVITIES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Originated loans sold	$ 0	$ 24,700,000
Minimum net worth	2,000,000
Actual net worth	$ 693,000,000
Loss on sale of loans		$ (163,000)
Multifamily Loan Securitization
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Maximum loss exposure as a percentage of original principal amount	10.00%
Reserved for estimated losses	$ 1,700,000
Loans receivable | Multifamily residential | Permanent mortgages
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Originated loans sold	$ 626,000,000

LOAN SALE AND SECURITIZATION 81

LOAN SALE AND SECURITIZATION ACTIVITIES - Cash Flow from Sale of Loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Transfers and Servicing [Abstract]
Proceeds from sale of loans held for sale	$ 0	$ 24,691
Servicing fees	$ 407	$ 108

LOAN SALE AND SECURITIZATION 82

LOAN SALE AND SECURITIZATION ACTIVITIES - Loans Transfered Through Loans or Securitization (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Single family residential
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]
Principal balance of loans	$ 28,830	$ 29,772
Loans 90 days past due	0	0
Charge-offs, net	0	0
Multifamily residential
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]
Principal balance of loans	732,848	753,909
Loans 90 days past due	0	0
Charge-offs, net	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Operating Leased Assets [Line Items]
Rent expense for operating leases	$ 1,100	$ 1,100
Cash balances held at other institutions that exceed FDIC insured limits	$ 856		$ 845
Operating Lease Arrangement Type One
Operating Leased Assets [Line Items]
Renewal term	3 years
Operating Lease Arrangement Type Two
Operating Leased Assets [Line Items]
Renewal term	5 years
Operating Lease Arrangement Type Three
Operating Leased Assets [Line Items]
Renewal term	10 years
Commitments to Extend Credit [Member]
Operating Leased Assets [Line Items]
Real estate loan funding commitments	$ 114,800		65,800
Unfunded Loan Commitment
Operating Leased Assets [Line Items]
Reserve recorded on real estate loan funding commitments	$ 330		$ 197

COMMITMENTS AND CONTINGENCIES84

COMMITMENTS AND CONTINGENCIES - Operating Lease Maturities (Details) $ in Thousands	Mar. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
April 1 - December 31, 2018	$ 4,021
Year ending December 31, 2019	5,117
Year ending December 31, 2020	3,723
Year ending December 31, 2021	3,267
Year ending December 31, 2022	2,419
Thereafter	1,864
Operating Leases Payable	$ 20,411