Luther Burbank (LBC) 10-K4 Mar 192018 Q4 Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2018	Feb. 25, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Document Type	10-K
Document Period End Date	Dec. 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	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Transition Period	false
Entity Common Stock Shares Outstanding (in shares)		56,501,824
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q4
Entity Shell Company	false
Entity Public Float			$ 175.8

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 91,697	$ 75,578
Available for sale investment securities, at fair value	619,966	503,288
Held to maturity investment securities, at amortized cost (fair value of $11,625 and $6,925 at December 31, 2018 and 2017, respectively)	11,860	6,921
Loans receivable, net of allowance for loan losses of $34,314 and $30,312 as of December 31, 2018 and 2017, respectively	6,096,316	5,011,235
Accrued interest receivable	20,220	14,901
Federal Home Loan Bank (FHLB) stock, at cost	31,823	27,733
Premises and equipment, net	20,981	22,452
Goodwill	3,297	3,297
Prepaid expenses and other assets	41,052	38,975
Total assets	6,937,212	5,704,380
Liabilities:
Deposits	5,001,040	3,951,238
FHLB advances	1,143,132	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 $707 and $839 at December 31, 2018 and 2017, respectively)	94,293	94,161
Accrued interest payable	4,307	1,781
Other liabilities and accrued expenses	51,438	56,338
Total liabilities	6,356,067	5,154,635
Commitments and contingencies (Note 19)
Stockholders' equity:
Preferred stock, no par value; 5,000,000 shares authorized; none issued and outstanding at December 31, 2018 and 2017	0	0
Common stock, no par value; 100,000,000 shares authorized; 56,379,066 and 56,422,662 shares issued and outstanding at December 31, 2018 and 2017, respectively	456,378	454,287
Retained earnings	129,806	102,459
Accumulated other comprehensive loss, net of taxes	(5,039)	(7,001)
Total stockholders' equity	581,145	549,745
Total liabilities and stockholders' equity	$ 6,937,212	$ 5,704,380

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Fair value of held-to-maturity securities	$ 11,625,000	$ 6,925,000
Allowance for loan losses	$ 34,314,000	$ 30,312,000
Debt Instrument [Line Items]
Debt interest rate	6.50%
Preferred stock shares authorized (in shares)	5,000,000,000	5,000,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock shares outstanding (in shares)	0	0
Common stock shares authorized (in shares)	100,000,000	100,000,000
Common stock shares issued (in shares)	56,379,066	56,422,662
Common stock shares outstanding (in shares)	56,379,066	56,422,662
Senior Unsecured Term Notes, September 2014 \| Senior Unsecured Term Notes
Debt Instrument [Line Items]
Principal	$ 95,000,000	$ 95,000,000
Debt interest rate	6.50%
Unamortized Debt Issuance Costs	$ 707,000	$ 839,000

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Interest and fee income:
Loans	$ 211,835	$ 166,573
Investment securities	12,430	6,739
Cash and cash equivalents	1,792	925
Total interest and fee income	226,057	174,237
Interest expense:
Deposits	69,112	38,813
FHLB advances	23,285	16,555
Junior subordinated deferrable interest debentures	2,266	1,665
Senior debt	6,307	6,309
Total interest expense	100,970	63,342
Net interest income before provision for (reversal of) loan losses	125,087	110,895
Provision for (reversal of) loan losses (Note 3)	3,600	(3,372)
Net interest income after provision for (reversal of) loan losses	121,487	114,267
Noninterest income:
Gain on sale of loans	140	3,277
FHLB dividends	2,735	2,473
Other income	1,256	1,758
Total noninterest income	4,131	7,508
Noninterest expense:
Compensation and related benefits	38,860	36,524
Deposit insurance premium	1,892	1,812
Professional and regulatory fees	2,037	2,034
Occupancy	5,349	5,155
Depreciation and amortization	2,813	2,903
Data processing	3,315	3,167
Marketing	3,497	935
Other expenses	4,924	4,014
Total noninterest expense	62,687	56,544
Income before provision (benefit) for income taxes	62,931	65,231
Provision (benefit) for income taxes	17,871	(4,153)
Net income	$ 45,060	$ 69,384
Basic earnings per common share (in dollars per share)	$ 0.80	$ 1.62
Diluted earnings per common share (in dollars per share)	0.79	1.62
Dividends per common share (in usd per share)	$ 0.28	$ 1.58

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 45,060	$ 69,384
Unrealized loss on available for sale investment securities:
Unrealized holding loss arising during the period	(336)	(2,075)
Tax effect	86	235
Net of tax	(250)	(1,840)
Unrealized gain on cash flow hedge:
Unrealized holding gain arising during the period	649	407
Tax effect	(187)	(33)
Net of tax	462	374
Total other comprehensive income (loss)	212	(1,466)
Comprehensive income	$ 45,272	$ 67,918

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Restricted Stock Units	Common Stock	Common StockRestricted Stock Awards	Common StockRestricted Stock Units	Retained Earnings	Retained EarningsRestricted Stock Units	Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Available for Sale Securities	Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Cash Flow Hedge
Beginning balance (in 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	69,384					69,384
Other comprehensive (loss) income	(1,466)							(1,840)	374
Common stock issued, net of offering costs (in shares)			13,972,500
Common stock issued, net of offering costs	138,287		$ 138,287
Reclassification of undistributed S-Corporation earnings	0		306,773			(306,773)
Conversion of phantom stock plan to restricted stock units	6,379		6,379
Issuance of restricted stock awards (in shares)				409,835
Vested restricted stock units (in shares)					40,327
Stock-based compensation expense	586		$ 586
Cash dividends	(67,800)					(67,800)
Ending balance (in shares) at Dec. 31, 2017			56,422,662
Ending balance at Dec. 31, 2017	549,745		$ 454,287			102,459		(6,214)	(787)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	45,060					45,060
Other comprehensive (loss) income	212							(250)	462
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 (in shares)				131,140
Vested restricted stock units (in shares)					99,533
Shares withheld to pay taxes on stock based compensation (in shares)			(77,568)
Shares withheld to pay taxes on stock based compensation	(769)		$ (769)
Restricted stock forfeitures (in shares)					(23,401)
Restricted stock forfeitures		$ (40)			$ (42)		$ 2
Stock-based compensation expense	4,397		$ 4,397
Shares repurchased (in shares)			(173,300)
Shares repurchased	(1,495)		$ (1,495)
Cash dividends	(15,965)					(15,965)
Ending balance (in shares) at Dec. 31, 2018			56,379,066
Ending balance at Dec. 31, 2018	$ 581,145		$ 456,378			$ 129,806		$ (4,935)	$ (104)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.28	$ 1.58

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 45,060	$ 69,384
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,813	2,903
Provision for (reversal of) loan losses	3,600	(3,372)
Amortization of deferred loan costs, net	10,218	9,285
Amortization of premiums on investment securities, net	1,870	2,800
Gain on sale of loans	(140)	(3,277)
Originations of loans held for sale	0	(25,809)
Proceeds from sale of loans held for sale	0	33,618
Stock based compensation expense, net of forfeitures	4,355	586
Benefit for deferred income tax	(1,868)	(6,584)
Change in fair value of mortgage servicing rights	931	(30)
Other items, net	86	0
Effect of changes in:
Accrued interest receivable	(5,319)	(2,760)
Accrued interest payable	2,526	479
Prepaid expenses and other assets	(272)	(5,356)
Other liabilities and accrued expenses	(4,900)	6,547
Net cash provided by operating activities	58,960	78,414
Cash flows from investing activities:
Proceeds from maturities and paydowns of available for sale investment securities	77,785	113,842
Proceeds from maturities and paydowns of held to maturity investment securities	415	626
Purchases of available for sale investment securities	(196,648)	(162,830)
Purchases of held to maturity investment securities	(5,375)	0
Net increase in loans receivable	(1,118,502)	(1,236,187)
Proceeds from loans held for sale previously classified as portfolio loans	19,604	655,754
(Purchase) redemption of FHLB stock, net	(4,090)	2,677
Purchase of premises and equipment	(1,477)	(1,056)
Net cash used in investing activities	(1,228,288)	(627,174)
Cash flows from financing activities:
Net increase in customer deposits	1,049,802	617,269
Proceeds from long-term FHLB advances	575,000	100,000
Repayment of long-term FHLB advances	(175,528)	0
Net change in short-term FHLB advances	(245,600)	(222,626)
Net proceeds from issuance of common stock	0	138,287
Shares withheld for taxes on vested restricted stock	(769)	0
Shares repurchased	(1,495)	0
Cash paid for dividends	(15,963)	(67,800)
Net cash provided by financing activities	1,185,447	565,130
Increase in cash and cash equivalents	16,119	16,370
Cash and cash equivalents, beginning of period	75,578	59,208
Cash and cash equivalents, end of period	91,697	75,578
Cash and cash equivalents, end of period
Interest	98,444	62,863
Income taxes	21,565	1,845
Non-cash investing activity:
Loans transferred to held for investment	0	38,342
Loans transferred to held for sale	19,603	630,103
Conversion of cash-settled to stock-settled compensation	$ 0	$ 6,379

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 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. The Bank conducts its business from its headquarters in Manhattan Beach, California. It has nine full service branches in California located in Sonoma, Marin, Santa Clara, and Los Angeles Counties and one full service branch in Washington located in King County. Additionally, there are seven loan production offices located throughout California, as well as a loan production office in Clackamas County, Oregon. On December 12, 2017, the Company completed the initial public offering ("IPO") of its common stock. In connection with the IPO, the Company sold and issued 13,972,500 shares of common stock at $10.75 per share. The Company received total net proceeds of $138.3 million from the IPO. Basis of Presentation The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting standards and prevailing practices within the banking industry and include the accounts of the Company and its wholly-owned subsidiaries. The Company currently has two unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue junior subordinated deferrable interest debentures. See Note 9, “Junior Subordinated Deferrable Interest Debentures,” for additional information regarding these trusts. All intercompany accounts and transactions have been eliminated. In preparing financial statements in conformity with generally accepted accounting principles ("GAAP"), management makes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions. Cash and Cash Equivalents Cash and cash equivalents include cash and deposits with other financial institutions with maturities of less than three months. Net cash flows are reported for customer loan and deposit transactions, and interest bearing deposits in other financial institutions. Restricted Cash Balances Federal Reserve Bank regulations require the Company to maintain reserve balances on deposit with the Federal Reserve Bank. The amount of reserves required at the Federal Reserve Bank at December 31, 2018 and 2017 were $18.6 million and $16.0 million , respectively. Investment Securities The Company classifies its investment securities into two categories, available for sale and held to maturity, at the time of purchase. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of applicable taxes. Investment securities held to maturity are measured at amortized cost, based on the Company’s positive intent and ability to hold such securities to maturity. Interest income includes amortization/accretion of purchase premiums/discounts. Premiums and discounts are amortized, or accreted, over the life of the related investment security as an adjustment to interest income using a method that approximates the interest method. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are impaired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term ‘‘other than temporary’’ is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive (loss) income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings. Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances, net of purchase premiums and discounts, deferred loan origination fees and costs, and the allowance for loan losses. Interest income is accrued on the unpaid principal balance. Premiums or discounts to acquire loans are amortized over the life of the loan using a method that approximates the interest method. The Company charges fees for originating loans. These fees, net of certain related direct loan origination costs, are deferred. The net deferred fees or costs on loans held for investment are recognized as an adjustment of the loan’s yield over the contractual life of the loan using the interest method. The Company ceases to amortize deferred fees or costs on loans for which the accrual of interest has been discontinued. Other loan fees and charges representing service costs are reported in income when collected or earned. Loans Held for Sale The lower of aggregate cost or fair value option has been elected for certain mortgage loans originated and intended for sale in the secondary market. The lower of aggregate cost or fair value is determined by outstanding commitments from investors or secondary market price indications, with any net unrealized losses recorded as a valuation allowance and charged to earnings. Long term, fixed rate mortgage loans made in conjunction with the Grow program to finance loans for low- or moderate-income borrowers or for properties in low- to moderate-income census tracts were previously recorded as available for sale upon origination. In light of the extended holding period for these loans to establish payment performance prior to sale as well as the likelihood of increasing market rates, the Company transferred the balance of these loans, or $38.3 million , from loans held for sale to loans held for investment during the fourth quarter of 2017. As a result of transfer, the Company recorded a fair value loss of $289 thousand , which is included in noninterest expense within the consolidated statements of income. Mortgage loans held for sale are sold with servicing rights released or retained. Realized gains and losses on sales of mortgage loans are accounted for under the specific identification method and based on the difference between the selling price and the carrying value of the related loan sold. The carrying value of mortgage loans sold servicing retained is reduced by the amount allocated to the servicing right. Concentration of Credit Risk The majority of our customers are individuals and businesses located and doing business in the state of California, with approximately half our customers located in Los Angeles County and Orange County. The Company's exposure to credit risk is significantly affected by changes in the economy of California, and specifically, Los Angeles and Orange Counties. Allowance for Loan Losses The allowance for loan losses represents the estimated probable incurred credit losses in the Company’s loan portfolio. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower circumstances, estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The Company performs periodic and systematic detailed reviews of its loan portfolio to assess the overall collectability of its loans. The Company’s methodology for assessing the appropriateness of the allowance consists of the combined total of two key components. The first component covers loans that are impaired. All loans are evaluated for impairment on a recurring basis. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans that are reported as troubled debt restructures (“TDRs”) are considered impaired. A restructuring of a debt constitutes a TDR if the Company, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Impaired loans, including TDRs, are primarily measured based on the present value of loan payments expected to be received discounted at the loans’ original effective contractual interest rate. Impaired loans and TDRs that are solely dependent on the operation or liquidation of collateral for repayment are measured for impairment at the fair value of the collateral less estimated costs to sell. If the recorded investment in the impaired loans exceeds the value of funds to be received, an allowance is established as a component of the total allowance for loan losses unless the loans are solely dependent on the collateral for repayment, in which case the amount that exceeds the fair value of the collateral is charged off. The second element of the allowance covers probable incurred losses inherent in performing loans that have yet to be specifically identified for impairment. This component of the allowance is estimated by applying reserve factors based on average historical loss experience for the previous nine to ten years to various loan stratifications based on factors affecting the perceived level of risk including the type of collateral, loan program, and credit classification. The resulting loss amount is adjusted for qualitative factors to be reflective of risks or trends affecting the loan portfolio including economic conditions, the real estate market, volumes, delinquencies, and credit concentrations. The Company has identified the following loan portfolio segments based on collateral type: Multifamily residential and commercial real estate loans - These loans typically involve greater principal amounts than other types of loans, and repayment depends upon income generated, or expected to be generated, by the property securing the loan in amounts sufficient to cover operating expenses and debt service, which may be adversely affected by changes in the economy or local market conditions. Multifamily residential and commercial real estate loans also expose a lender to significant credit risk because the collateral securing these loans typically cannot be sold as easily as single family residential real estate. In addition, some commercial real estate loans are not fully amortizing and contain large balloon payments upon maturity. Such balloon payments may require the borrower to either sell or refinance the underlying property in order to comply with the terms of the loan agreement, which may increase the risk of default or non-payment. Single family residential real estate loans - The degree of risk in single family residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate, and the borrower’s ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. Construction and land loans - This type of lending generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified costs and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. Non-mortgage loans - These loans are not a part of our normal business activity, but rather are made on an exception basis typically in conjunction with our efforts to support CRA activities. The loans carry a high inherent risk of loss as they generally have no secondary source of repayment or any collateral support. The total allowance is increased by the provision for loan losses, which is charged against the current period operating results, and decreased by the amount of loan charge-offs, net of recoveries. Losses incurred upon the initial acquisition of real estate owned through foreclosure are charged to the allowance for loan losses. Accrued Interest Receivable on Loans Interest receivable is only accrued if deemed collectible. It is the Company’s policy to place a loan on non-accrual status in the event that the borrower is 90 days or more delinquent (unless the loan is well secured and in the process of collection), or earlier if the timely collection of contractual payments appears doubtful. At the time a loan is placed on non-accrual, accrued interest is reversed out of interest income. Cash payments subsequently received on non-accrual loans are recognized as income only where the future collection of the remaining principal is considered by management to be probable. Loans are restored to accrual status only when the loan is less than 90 days delinquent and not in foreclosure, and the borrower has demonstrated the ability to make future payments of principal and interest. Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in the fair value of servicing assets in earnings in the period in which the changes occur, and such changes are included with other income on the consolidated statements of income. The fair values of servicing rights are calculated using model assumptions including factors such as prepayment rates, market rates and other model cash flow assumptions. Absent other changes, an increase (decrease) to the estimated life of serviced loans would generally increase (decrease) the fair value of servicing rights. The fair value of servicing rights are subject to significant fluctuation as a result of changes in estimates and when actual factors such as prepayment speeds, default rates, and losses differ from model assumptions. Servicing fee income, which is reported on the consolidated statements of income as a component of other income, is recorded for fees earned for servicing loans. The fees are typically based on a contractual percentage of the outstanding principal and are recorded as income when earned. Fair value adjustments are netted against loan servicing fee income. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Real Estate Owned ("REO") Real estate acquired as a result of loan foreclosure or a deed in lieu of foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Physical possession of a residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Fair value is typically based on a real estate appraisal. REO is subsequently accounted for at the lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Costs after acquisition related to the development of REO are capitalized while operating costs are charged to expense. Gains or losses realized and expenses incurred in connection with the disposition of foreclosed real estate are charged to noninterest income. Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation and amortization. Land is carried at cost. The Company’s policy is to depreciate buildings, furniture and equipment on the straight-line basis over the estimated useful lives of the various assets and to amortize leasehold improvements over the shorter of the asset life or lease term as follows: Leasehold improvements Lesser of term of lease or life of improvement Furniture and equipment 2 to 7 years Building 39 years The Company evaluates the recoverability of long-lived assets on an ongoing basis. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation or amortization are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred. Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank of San Francisco ("FHLB"), the Bank is required to own capital stock in an amount specified by the level of FHLB borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on the ultimate recovery of par value. Cash dividends are reported as noninterest income on an accrual basis. At December 31, 2018 and 2017 , the Bank owned 318,231 and 277,328 shares of $100 par value FHLB stock, respectively. Goodwill Goodwill arises from business combinations and is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill determined to have an indefinite useful life is not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. If the carrying amount of the goodwill exceeds its fair value, an impairment loss is recognized in the amount of the excess and the carrying value of the goodwill is reduced accordingly. Goodwill is the only intangible asset with an indefinite life on the balance sheet. Based on an evaluation performed as of December 31, 2018 , management determined that the implied fair value of goodwill exceeded its carrying value and no impairment was recognized. Bank-Owned Life Insurance (“BOLI”) Bank-owned life insurance is initially recorded at cost. Subsequently, BOLI is carried at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement. Increases in contract value are recorded as noninterest income and insurance proceeds received are recorded as a reduction of the contract value. Reserve for Loan Commitments The Company maintains a reserve within other liabilities associated with commitments to fund undisbursed loan commitments on outstanding loans. This reserve is determined based upon the historical loss experience of similar loans held by the Company at each period end. Any changes in this reserve amount are recognized through earnings as a component of noninterest expense. Marketing Marketing costs are expensed as incurred. Derivatives At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (‘‘fair value hedge’’), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (‘‘cash flow hedge’’), or (3) an instrument with no hedging designation (‘‘stand-alone derivative’’). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings. Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates. Income Taxes Prior to December 1, 2017, the Company had elected to be taxed as an S-Corporation for federal and state income tax purposes. As such, stockholders were taxed on their pro rata share of earnings and deductions of the Company, regardless of the amount of distributions received. Generally, the Company was not subject to federal income tax but was subject to California tax at the rate of 3.5% of taxable income. Effective December 1, 2017, the Company converted from an S-Corporation to a C-Corporation and is subject to federal and state taxes at the applicable C-Corporation rates which were 35.0% and 10.84%, respectively at that date. On December 22, 2017, H.R. 1, the Tax Cuts and Jobs Act, was signed into law reducing the federal C-Corporation rate to 21.0% effective January 1, 2018. Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company uses a comprehensive model for recognizing, measuring, presenting, and disclosing in the financial statements tax positions taken or expected to be taken on a tax return. A tax position is recognized as a benefit only if it is ‘‘more likely than not’’ that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the ‘‘more likely than not’’ test, no tax benefit is recorded. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in tax expense. During the years ended December 31, 2018 and 2017 , the Company recognized no interest and penalties. Share-Based Compensation The Company has issued awards of equity instruments, such as restricted stock awards (“RSAs”) and restricted stock units (“RSUs”), to employees and certain nonemployee directors. Compensation expense related to restricted stock is based on the fair value of the underlying stock on the award date and is amortized over the service period, defined as the vesting period, using the straight-line method. The vesting period is generally three years. Compensation expense is reduced for actual forfeitures as they occur. Unvested RSAs and RSUs participate with common stock in any dividends declared, but are paid only on the shares which ultimately vest. Such dividends are accrued and charged to compensation expense over the service period. Comprehensive Income Comprehensive (loss) income includes net income and other comprehensive (loss) income. The only items of other comprehensive (loss) income for the Company are unrealized gains and losses on investment securities classified as available for sale, net of tax, and unrealized gains and losses on cash flow hedges, net of tax. Reclassification adjustments resulting from gains or losses on investment securities available for sale or cash flow hedges that have been realized and included in net income of the current period that also had been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose have been excluded from comprehensive (loss) income of the current period to avoid double counting. Common Stock 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. 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 common 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. (Dollars in thousands, except per share amounts) Years Ended December 31, 2018 2017 Net income $ 45,060 $ 69,384 Weighted average basic common shares outstanding 56,196,648 42,916,879 Add: Dilutive effects of assumed vesting of restricted stock 628,754 41,057 Weighted average diluted common shares outstanding 56,825,402 42,957,936 Income per common share: Basic EPS $ 0.80 $ 1.62 Diluted EPS $ 0.79 $ 1.62 Anti-dilutive shares not included in calculation of diluted earnings per share — — Related Party Transactions In the normal course of business, the Company may accept deposits from officers and directors, as well as companies and individuals affiliated with officers and directors of the Company. As of December 31, 2018 and 2017 , there were $17.0 million and $12.6 million , respectively, of such deposits. The Company does not permit loans to officers and directors or companies and individuals affiliated with officers and directors of the Company, with the exception of overdraft protection in limited circumstances. As of December 31, 2018 and 2017 , there were no such overdraft loans outstanding. Business Segme nts While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
INVESTMENT SECURITIES	Dec. 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) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value At December 31, 2018: Government and Government Sponsored Entities: Residential mortgage-backed securities and collateralized mortgage obligations ("MBS and CMOs") $ 194,297 $ 339 $ (2,523 ) $ 192,113 Commercial MBS and CMOs 294,276 979 (2,304 ) 292,951 Agency bonds 125,329 7 (2,848 ) 122,488 U.S. Treasury 1,008 — (32 ) 976 CRA Qualified Investment Fund 12,000 — (562 ) 11,438 Total available for sale investment securities $ 626,910 $ 1,325 $ (8,269 ) $ 619,966 At December 31, 2017: Government and Government Sponsored Entities: Residential MBS and CMOs $ 245,062 $ 361 $ (2,051 ) $ 243,372 Commercial MBS and CMOs 131,419 — (1,402 ) 130,017 Agency bonds 120,405 30 (3,213 ) 117,222 U.S. Treasury 1,010 — (26 ) 984 CRA Qualified Investment Fund 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 $4.9 million and $6.2 million , net of $2.0 million and $394 thousand in tax assets at December 31, 2018 and 2017 , respectively. At December 31, 2017, $394 thousand of a total $1.9 million tax asset resides in accumulated other comprehensive loss, 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 stranded tax effects from the change in federal corporate tax rates on 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 realized gains or losses on these securities for the years ended December 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: December 31, 2018 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government and Government Sponsored Entities: Residential MBS and CMOs $ 31,728 $ (304 ) $ 102,503 $ (2,219 ) $ 134,231 $ (2,523 ) Commercial MBS and CMOs 58,725 (432 ) 114,159 (1,872 ) 172,884 (2,304 ) Agency bonds 4,906 (18 ) 114,575 (2,830 ) 119,481 (2,848 ) U.S. Treasury — — 976 (32 ) 976 (32 ) CRA Qualified Investment Fund — — 11,438 (562 ) 11,438 (562 ) Total available for sale investment securities $ 95,359 $ (754 ) $ 343,651 $ (7,515 ) $ 439,010 $ (8,269 ) At December 31, 2018 , the Company held 82 residential MBS and CMOs of which 45 were in a loss position and 40 had been in a loss position for twelve months or more. The Company held 34 commercial MBS and CMOs of which 23 were in a loss position and 16 had been in a loss position for twelve months or more. The Company held 14 agency bonds of which 13 were in a loss position and 12 had been in a loss position for twelve months or more. Of the 3 total investments in the CRA Qualified Investment Fund, all 3 were in a loss position and had been for greater than 12 months. The Company held 1 U.S. Treasury note at December 31, 2018 . This note was in a loss position for greater than 12 months. December 31, 2017 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government and Government Sponsored Entities: Residential MBS and CMOs $ 60,760 $ (463 ) $ 100,230 $ (1,588 ) $ 160,990 $ (2,051 ) Commercial MBS and CMOs 34,602 (343 ) 95,415 (1,059 ) 130,017 (1,402 ) Agency bonds 9,851 (148 ) 104,340 (3,065 ) 114,191 (3,213 ) U.S. Treasury — — 984 (26 ) 984 (26 ) CRA Qualified Investment Fund 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 89 residential MBS and CMOs of which 56 were in a loss position and 23 had been in a loss position for twelve months or more. The Company held 17 commercial MBS and CMOs of which 17 were in a loss position and 11 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 in a loss position for twelve months or more. Of the 3 total investments in the CRA Qualified Investment Fund, 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 year end. This note was in a loss position 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 the U.S. government or 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 these investments to be other-than-temporarily impaired at December 31, 2018 and 2017 . As of December 31, 2018 and 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) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value As of December 31, 2018: Government Sponsored Entities: Residential MBS $ 11,593 $ 27 $ (262 ) $ 11,358 Other investments 267 — — 267 Total held to maturity investment securities $ 11,860 $ 27 $ (262 ) $ 11,625 As of December 31, 2017: Government Sponsored Entities: Residential MBS $ 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: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses As of December 31, 2018: Government Sponsored Entities: Residential MBS $ 6,481 $ (111 ) $ 3,739 $ (151 ) $ 10,220 $ (262 ) As of December 31, 2017: Government Sponsored Entities: Residential MBS $ 1,047 $ (4 ) $ 3,029 $ (65 ) $ 4,076 $ (69 ) At December 31, 2018 , the Company had 7 held to maturity residential MBS of which 6 were in a loss position and 3 had been in a loss position for twelve months or more. At December 31, 2017 , the Company had 6 held to maturity residential MBS of which 3 were in a loss position and 2 had been in a loss position for twelve months or more. The unrecognized losses on the Company’s held to maturity 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 maturity, the Company does not consider those investments to be other-than-temporarily impaired at December 31, 2018 and 2017 . The following table summarizes the scheduled maturities of available for sale and held to maturity investment securities as of December 31, 2018 : December 31, 2018 (Dollars in thousands) Amortized Cost Fair Value Available for sale investments securities One to five years $ 118,413 $ 115,551 Five to ten years 4,924 4,906 Beyond ten years 3,000 3,007 Equity securities 12,000 11,438 MBS and CMOs 488,573 485,064 Total available for sale investment securities $ 626,910 $ 619,966 Held to maturity investments securities Beyond ten years $ 267 $ 267 MBS 11,593 11,358 Total held to maturity investment securities $ 11,860 $ 11,625 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. As such, mortgage backed securities and collateralized mortgage obligations are not included in the maturity categories above and instead are shown separately. No securities were pledged as of December 31, 2018 and 2017 .

LOANS RECEIVABLE

LOANS RECEIVABLE	12 Months Ended
LOANS RECEIVABLE	Dec. 31, 2018
Receivables [Abstract]
LOANS	LOANS Loans consist of the following: (Dollars in thousands) December 31, December 31, Permanent mortgages on: Multifamily residential $ 3,650,967 $ 2,887,438 Single family residential 2,231,802 1,957,546 Commercial real estate 183,559 112,492 Construction and land loans 12,656 41,165 Non-Mortgage (‘‘NM’’) loans 100 50 Total 6,079,084 4,998,691 Deferred loan costs, net 51,546 42,856 Allowance for loan losses (34,314 ) (30,312 ) Loans held for investment, net $ 6,096,316 $ 5,011,235 Certain loans have been pledged to secure borrowing arrangements (see Note 8). The following tables summarize activity in and the allocation of the allowance for loan losses by portfolio segment and by impairment methodology: (Dollars in thousands) Multifamily Residential Single Family Residential Commercial Real Estate Land, Construction and NM Total For the Year Ended December 31, 2018: Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Provision for (reversal of) loan losses 2,738 1,069 617 (824 ) 3,600 Charge-offs — — — — — Recoveries — 12 90 300 402 Ending balance allocated to portfolio segments $ 21,326 $ 10,125 $ 2,441 $ 422 $ 34,314 Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 21,326 10,100 2,441 422 34,289 Ending balance $ 21,326 $ 10,125 $ 2,441 $ 422 $ 34,314 Loans: Ending balance: individually evaluated for impairment $ 566 $ 6,008 $ — $ — $ 6,574 Ending balance: collectively evaluated for impairment 3,650,401 2,225,794 183,559 12,756 6,072,510 Ending balance $ 3,650,967 $ 2,231,802 $ 183,559 $ 12,756 $ 6,079,084 For the Year Ended December 31, 2017: Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,478 $ 11,559 $ 1,823 $ 1,438 $ 33,298 Provision for (reversal of) loan losses 110 (2,522 ) (89 ) (871 ) (3,372 ) Charge-offs — (5 ) — — (5 ) Recoveries — 12 — 379 391 Ending balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 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, as well as the financial performance and other characteristics of loan 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/or 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 December 31, 2018 and 2017 : (Dollars in thousands) Multifamily Residential Single Family Residential Commercial Real Estate Land, Construction and NM Total As of December 31, 2018: Grade: Pass $ 3,581,468 $ 2,205,528 $ 180,190 $ 10,232 $ 5,977,418 Watch 64,958 20,288 1,887 — 87,133 Special mention 2,607 369 1,482 2,524 6,982 Substandard 1,934 5,617 — — 7,551 Total $ 3,650,967 $ 2,231,802 $ 183,559 $ 12,756 $ 6,079,084 As of December 31, 2017: 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 December 31, 2018 and 2017 : (Dollars in thousands) 30 Days 60 Days 90+ Days Non-accrual Current Total As of December 31, 2018: Loans: Multifamily residential $ — $ — $ — $ 566 $ 3,650,401 $ 3,650,967 Single family residential 357 2,205 — 1,598 2,227,642 2,231,802 Commercial real estate — — — — 183,559 183,559 Land, construction and NM — — — — 12,756 12,756 Total $ 357 $ 2,205 $ — $ 2,164 $ 6,074,358 $ 6,079,084 As of December 31, 2017: 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, construction and NM — — — — 41,215 41,215 Total $ 7,621 $ 3,364 $ — $ 7,037 $ 4,980,669 $ 4,998,691 The following tables summarize information related to impaired loans: (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Cash Basis Interest As of December 31, 2018 With no related allowance recorded: Multifamily residential $ 566 $ 635 $ — $ 1,300 $ — $ — Single family residential 5,075 5,333 — 6,932 151 — Commercial real estate — — — 284 — — Land, construction and NM — — — — — — 5,641 5,968 — 8,516 151 — With an allowance recorded: Multifamily residential — — — — — — Single family residential 933 933 25 1,181 45 — Commercial real estate — — — — — — Land, construction and NM — — — — — — 933 933 25 1,181 45 — Total: Multifamily residential 566 635 — 1,300 — — Single family residential 6,008 6,266 25 8,113 196 — Commercial real estate — — — 284 — — Land, construction and NM — — — — — — $ 6,574 $ 6,901 $ 25 $ 9,697 $ 196 $ — As of December 31, 2017 With no related allowance recorded: Multifamily residential $ 2,246 $ 2,545 $ — $ 2,075 $ — $ — Single family residential 8,029 8,237 — 7,114 168 — Commercial real estate 656 798 — 728 — — Land, construction and NM — — — — — — 10,931 11,580 — 9,917 168 — With an allowance recorded: Multifamily residential — — — — — — Single family residential 962 962 25 979 34 — Commercial real estate — — — — — — Land, construction and NM — — — — — — 962 962 25 979 34 — Total: Multifamily residential 2,246 2,545 — 2,075 — — Single family residential 8,991 9,199 25 8,093 202 — Commercial real estate 656 798 — 728 — — Land, construction and NM — — — — — — $ 11,893 $ 12,542 $ 25 $ 10,896 $ 202 $ — The following table summarizes the recorded investment related to troubled debt restructurings at December 31, 2018 and 2017 : December 31, (Dollars in thousands) 2018 2017 Troubled debt restructurings: Multifamily residential $ — $ 667 Single family residential 4,410 5,653 Total recorded investment in troubled debt restructurings $ 4,410 $ 6,320 The Company has allocated $25 thousand of allowances for loans modified in troubled debt restructurings at both December 31, 2018 and 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 new troubled debt restructurings during the years ended December 31, 2018 or 2017 . The Company had no troubled debt restructurings with a subsequent payment default within twelve months following the modification during the years ended December 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.

NONPERFORMING ASSETS

NONPERFORMING ASSETS	12 Months Ended
NONPERFORMING ASSETS	Dec. 31, 2018
Receivables [Abstract]
NONPERFORMING ASSETS	NONPERFORMING ASSETS Nonperforming assets include nonperforming loans plus REO. The Company’s nonperforming assets at December 31, 2018 and 2017 are indicated below: December 31, (Dollars in thousands) 2018 2017 Non-accrual loans: Multifamily residential $ 566 $ 2,246 Single family residential 1,598 4,135 Commercial real estate — 656 Total non-accrual loans 2,164 7,037 Real estate owned — — Total nonperforming assets $ 2,164 $ 7,037 Contractual interest not accrued during the year $ 230 $ 273 No interest income was recognized on non-accrual loans during the years ended December 31, 2018 and 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	12 Months Ended
MORTGAGE SERVICING RIGHTS	Dec. 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: December 31, (Dollars in thousands) 2018 2017 Mortgage loans serviced for: Federal Home Loan Mortgage Corporation ("Freddie Mac") $ 497,950 $ 625,545 Other financial institutions 139,558 158,136 Total mortgage loans serviced for others $ 637,508 $ 783,681 Custodial account balances maintained in connection with serviced loans totaled $10.1 million and $5.2 million at December 31, 2018 and 2017 , respectively. Activity for mortgage servicing rights are as follows: Years Ended December 31, (Dollars in thousands) 2018 2017 Beginning balance $ 4,255 $ 1,099 Additions 139 3,126 Disposals — — Change in fair value due to changes in assumptions — — Other changes in fair value (931 ) 30 Ending balance $ 3,463 $ 4,255 Fair value as of December 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% . The weighed average prepayment speed at December 31, 2018 was 23.3% . 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% . The weighed average prepayment speed at December 31, 2017 was 21.6% .

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
PREMISES AND EQUIPMENT	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
PREMISES AND EQUIPMENT	PREMISES AND EQUIPMENT Premises and equipment consist of the following: December 31, (Dollars in thousands) 2018 2017 Leasehold improvements $ 16,404 $ 15,997 Furniture and equipment 11,318 10,866 Building 6,174 6,160 Land 2,429 2,429 Total 36,325 35,452 Less: accumulated depreciation (15,344 ) (13,000 ) Premises and equipment, net $ 20,981 $ 22,452 Depreciation and amortization expense for the years ended December 31, 2018 and 2017 totaled $2.8 million and $2.9 million , respectively.

DEPOSITS

DEPOSITS	12 Months Ended
DEPOSITS	Dec. 31, 2018
Banking and Thrift [Abstract]
DEPOSITS	DEPOSITS A summary of deposits at December 31, 2018 and 2017 is as follows: December 31, (Dollars in thousands) 2018 2017 Certificates of deposit $ 3,297,433 $ 2,242,682 Money market savings 1,335,246 1,389,425 Interest bearing demand 179,272 203,159 Money market checking 123,119 85,073 Non-interest bearing demand 65,970 30,899 Total $ 5,001,040 $ 3,951,238 The Company had certificates of deposit with a denomination of $100 thousand or more totaling $2.4 billion and $1.7 billion at December 31, 2018 and 2017 , respectively. The Company had certificates of deposit that meet or exceed the FDIC Insurance limit of $250 thousand of $1.2 billion and $829.1 million at December 31, 2018 and 2017 , respectively. The Company utilizes brokered deposits as an additional source of funding. The Company had brokered deposits of $467.5 million and $278.4 million at December 31, 2018 and 2017 , respectively. Maturities of the Company’s certificates of deposits at December 31, 2018 are summarized as follows (dollars in thousands): Year Ending December 31, 2019 $ 2,050,901 2020 967,920 2021 252,255 2022 21,106 2023 5,251 $ 3,297,433

FEDERAL HOME LOAN BANK AND FEDE

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES	12 Months Ended
FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES	Dec. 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 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 December 31, 2018 and 2017 , the Bank had pledged various mortgage loans totaling approximately $2.1 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 $406.6 million and $379.0 million as of December 31, 2018 and 2017 , respectively, secure this borrowing arrangement. There were no borrowings outstanding with the FRB as of December 31, 2018 and 2017 . The following table discloses the Bank’s outstanding advances from the FHLB: As of December 31, 2018 Outstanding Balances Minimum Interest Rate Maximum Interest Rate Weighted Average Rate (Dollars in thousands) December 31, December 31, Maturity Dates Fixed rate short-term $ 166,000 $ 411,600 2.56 % 2.58 % 2.57 % January to February 2019 Fixed rate long-term 877,132 427,660 1.13 % 7.69 % 2.33 % June 2019 to August 2032 Variable rate long-term 100,000 150,000 2.32 % 2.58 % 2.45 % April 2019 to January 2020 $ 1,143,132 $ 989,260 The Bank's available borrowing capacity based on pledged loans to the FRB and the FHLB totaled $681.5 million and $1.1 billion at December 31, 2018 and 2017 , respectively. Short-term borrowings are borrowings with original maturities of 90 days or less. During the year ended December 31, 2018 there was a maximum amount of short term borrowings outstanding of $495.7 million and an average amount outstanding of $221.1 million with a weighted average interest rate of 1.76% . The following table summarizes principal payments required over the next five years as of December 31, 2018 (dollars in thousands): Year Ending December 31, 2019 $ 441,000 2020 150,000 2021 150,600 2022 — 2023 400,750 Thereafter 782 Total $ 1,143,132

JUNIOR SUBORDINATED DEFERRABLE

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES	12 Months Ended
JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES	Dec. 31, 2018
Debt Disclosure [Abstract]
JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES	JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES The Company formed two wholly owned trust companies (the ‘‘Trusts’’) which issued guaranteed preferred beneficial interests (the "Trust Securities") in the Company’s junior subordinated deferrable interest debentures (the "Notes"). 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 , is included in other assets on the consolidated statements of financial condition. The sole asset of the Trusts are the Notes that they hold. At December 31, 2018 and 2017 , the Company had two Trusts which have issued Trust Securities in a private placement transaction. 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 December 31, 2018 and 2017 (dollars in thousands): December 31, 2018 December 31, 2017 Date Maturity Rate Index Issuer Amount Rate Amount Rate Issued Date (Quarterly Reset) Luther Burbank Statutory Trust I $ 41,238 4.17 % $ 41,238 2.97 % 3/1/2006 6/15/2036 3 month LIBOR + 1.38% Luther Burbank Statutory Trust II $ 20,619 4.41 % $ 20,619 3.21 % 3/1/2007 6/15/2037 3 month LIBOR + 1.62%

SENIOR DEBT

SENIOR DEBT	12 Months Ended
SENIOR DEBT	Dec. 31, 2018
Debt Disclosure [Abstract]
SENIOR DEBT	SENIOR DEBT In September 2014, the Company issued $95.0 million in senior unsecured term notes to qualified institutional investors. The following table summarizes information on these notes as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Maturity Date Fixed Interest Rate Senior Unsecured Term Notes $ 95,000 $ 707 $ 95,000 $ 839 9/30/2024 6.50 %

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision/(benefit) for income taxes for the years ended December 31, 2018 and 2017 consists of the following: Years Ended December 31, (Dollars in thousands) 2018 2017 Federal: Current $ 13,345 $ 142 Deferred (1,666 ) (4,451 ) Total federal tax provision (benefit) 11,679 (4,309 ) State: Current 6,394 2,289 Deferred (202 ) (2,133 ) Total state tax provision 6,192 156 Total income tax provision (benefit) $ 17,871 $ (4,153 ) The provision/(benefit) for income taxes for the years ended December 31, 2018 and 2017 differs from the statutory federal rate of 21% and 35%, respectively, due to the following: Years Ended December 31, (Dollars in thousands) 2018 2017 Statutory U.S. federal income tax $ 13,216 $ 22,831 Increase (decrease) resulting from: State taxes, net of federal benefit 4,749 156 Benefit of S-Corporation status — (21,146 ) Conversion as of December 1, 2017 to C-Corporation — (7,142 ) Tax reform rate change — 2,968 Deductible costs related to the issuance of common stock — (2,133 ) Other (94 ) 313 Provision (benefit) for income taxes $ 17,871 $ (4,153 ) In connection with the initial public offering, as discussed in Note 1, 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. As a result of the termination of S-Corporation status and H.R.1, the Tax Cuts and Jobs Act, which was signed into law on December 22, 2017, the Company increased its deferred tax asset and recorded a tax benefit of $5.3 million in December 2017. The deferred tax asset is the result of timing differences in the recognition of income/deductions for GAAP and tax purposes. Deferred tax assets (liabilities) included in other assets in the accompanying consolidated statements of financial condition consist of the following: December 31, (Dollars in thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 10,387 $ 9,360 Deferred compensation 9,219 8,490 Unrealized loss on securities 2,052 2,139 Net operating loss — 713 State tax deduction 1,371 — Other 817 899 Total deferred tax assets 23,846 21,601 Deferred tax liabilities: Loan fee income (10,643 ) (8,960 ) Federal Home Loan Bank stock dividend income deferred for tax purposes (1,463 ) (1,998 ) Section 481(a) adjustment related to conversion from cash basis to accrual basis taxpayer in December 2017 (1,201 ) (1,757 ) Federal depreciation (789 ) (920 ) Other (491 ) (474 ) Total deferred tax liabilities (14,587 ) (14,109 ) Net deferred tax assets $ 9,259 $ 7,492 In assessing the Company’s ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers projected future taxable income and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize all benefits related to these deductible differences as of December 31, 2018 and 2017 . There were no unrecognized tax benefits for the years ended December 31, 2018 and 2017 . Until July 1, 1996, the Bank was allowed a special bad debt deduction based on a percentage of federal taxable income or on specified experience formulas in arriving at federal taxable income. For reserves established in taxable years beginning prior to December 31, 1987, a deferred tax liability was not required to be accrued but has been included as a restriction on retained earnings because such amounts may require the recognition of a tax liability if, in the future, (1) the Bank’s retained earnings represented by these reserves is used for purposes other than to absorb losses from bad debts, including dividends or distributions in liquidation or (2) there is a change in the federal tax law. The cumulative amount of these untaxed reserves was approximately $3.1 million at December 31, 2018 and 2017 . Retained earnings at December 31, 2018 included approximately $1.1 million representing such cumulative bad debt reductions for which no deferred income taxes have been provided. In the event that these reserves are subject to realization, the tax on these reserves will be assessed and paid at the entity level. Management has determined that this portion of retained earnings will not be used in a manner that will create an income tax liability. The Company is subject to U.S. federal income tax as well as various other state income taxes. The Company is no longer subject to examination by taxing authorities for years before 2014 for California tax filings and 2015 for federal and most other state tax filings.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
REGULATORY MATTERS	Dec. 31, 2018
Banking and Thrift [Abstract]
REGULATORY MATTERS	REGULATORY MATTERS The Company is a registered bank holding company and is subject to regulation, examination, and supervision by the FRB . The Bank is subject to regulation, examination, and supervision by t he FDIC and the DBO. 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. The Basel III Capital Rules require institutions to retain a capital conservation buffer, composed entirely of CET1, of 2.5% above these required minimum capital ratio levels. Banking organizations that fail to maintain the minimum 2.5% capital conservation buffer could face restrictions on capital distributions or discretionary bonus payments to executive officers. Restrictions would begin phasing in where the banking organization’s capital conservation buffer was below 2.5% at the beginning of a quarter, and distributions and discretionary bonus payments would be completely prohibited if no capital conservation buffer exists. The implementation of the capital conservation buffer began on January 1, 2016 at 0.625% and increased by 0.625% each subsequent January 1, until it reached 2.5% on January 1, 2019. The capital conservation buffer was 1.875% and 1.25% at December 31, 2018 and 2017 , respectively. As of January 1, 2019, the Holding Company and the Bank will effectively have the following minimum capital to risk-weighted assets ratios: a) 7.0% based upon CET1; b) 8.5% based upon tier 1 capital; and c) 10.5% based upon total regulatory capital. The net unrealized gain or loss on available for sale securities and certain derivative instruments is not included in computing regulatory capital. The Bank is also governed by numerous federal and state laws and regulations, including the FDIC Improvement Act of 1991, which established five categories of capital adequacy ranging from “well-capitalized” to critically undercapitalized (although these items are not utilized to represent overall financial condition). The FDIC utilizes these categories of capital adequacy to determine various matters, including, but not limited to, prompt corrective action and deposit insurance premium assessment levels. Capital levels and adequacy classifications may also be subject to qualitative judgments by the Bank’s regulators regarding, among other factors, the components of capital and risk weighting. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions and asset growth are limited, and capital restoration plans are required. As of December 31, 2018 and 2017 , the Company and the Bank met all capital adequacy requirements to which they are subject. Also, as of December 31, 2018 and 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 December 31, 2018 that management believes have changed its “well-capitalized” categorization. The Company’s and Bank’s actual capital amounts and ratios are presented as follows: Minimum Required Actual For Capital Adequacy Purposes Plus Capital Conservation Buffer For Well- Capitalized Institution (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Corporation As of December 31, 2018 Tier 1 Leverage Ratio $ 644,344 9.42 % $ 273,544 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 582,487 14.74 % 177,873 4.50 % $ 251,986 6.38 % N/A N/A Tier 1 Risk-Based Capital Ratio 644,344 16.30 % 237,164 6.00 % 311,277 7.88 % N/A N/A Total Risk-Based Capital Ratio 679,841 17.20 % 316,218 8.00 % 390,332 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 Luther Burbank Savings As of December 31, 2018 Tier 1 Leverage Ratio $ 728,414 10.65 % $ 273,469 4.00 % N/A N/A $ 341,836 5.00 % Common Equity Tier 1 Risk-Based Ratio 728,414 18.43 % 177,820 4.50 % $ 251,912 6.38 % 256,851 6.50 % Tier 1 Risk-Based Capital Ratio 728,414 18.43 % 237,094 6.00 % 311,185 7.88 % 316,125 8.00 % Total Risk-Based Capital Ratio 763,911 19.33 % 316,125 8.00 % 390,217 9.88 % 395,156 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 % Dividends In the ordinary course of business, the Company is dependent upon dividends from the Bank to provide funds for the payment of dividends to shareholders and to provide for other cash requirements. Banking regulations may limit the amount of dividends that may be paid. Approval by regulatory authorities is required if the effect of dividends declared would cause the regulatory capital of the Bank to fall below specified minimum levels. Approval is also required if dividends declared exceed the net profits for that year combined with the retained net profits for the preceding two years. The Company has paid cash dividends of $16.0 million and $67.8 million during the years ended December 31, 2018 and 2017 . Payment of stock or cash dividends in the future will depend upon the Company's earnings and financial condition, and other factors deemed relevant by the Company’s Board of Directors, as well as the Company’s legal ability to pay dividends. Accordingly, no assurance can be given that any dividends will be declared in the future.

DERIVATIVES

DERIVATIVES	12 Months Ended
DERIVATIVES	Dec. 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 cap(s) with a notional amount totaling $50.0 million and $100.0 million as of December 31, 2018 and 2017 , respectively, were designated as cash flow hedges of certain FHLB 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 cap(s) 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 term of the cap. Interest Rate Swap Agreement Designated as a Fair Market Value Hedge: An interest rate swap was designated as fair market value hedge of loans held for sale related to a securitization in 2017. The fair value of the swap was recorded in other assets with changes in fair value of the swap agreement recorded in noninterest income. This hedge was unwound upon pricing of the securitization transaction during September 2017. The Company had no interest rate swap agreements outstanding at December 31, 2018 or 2017 . Summary information about the interest rate cap(s) designated as cash flow hedges at December 31, 2018 or 2017 is as follows: December 31, (Dollars in thousands) 2018 2017 Notional amounts $ 50,000 $ 100,000 Weighted average rate on FHLB advances 2.58 % 1.42 % Weighted average cap rate 2.80 % 2.55 % Weighted average original maturity 5.0 years 4.0 years Weighted average remaining maturity 0.3 years 0.9 years Unrealized losses $ (147 ) $ (796 ) The Company recognized $650 thousand and $450 thousand of cap premium amortization on cash flow hedges in the consolidated statements of income for the years ended December 31, 2018 and 2017 , respectively. No interest rate swap agreements were held during the year ended December 31, 2018 . Interest expense recorded on interest rate swap transactions totaled $857 thousand for the year ended December 31, 2017, and is reported as a component of interest income on loans. The Company recognized a realized loss of $335 thousand on swap transactions during the year ended December 31, 2017 .

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Dec. 31, 2018
Compensation Related Costs [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Salary Continuation Arrangements The Company has entered into individual salary continuation agreements with certain key executives and directors. These agreements are accounted for as deferred compensation arrangements and are unsecured and unfunded. Benefits under these agreements are fixed for each executive and director and are payable over a specific period following their retirement or at an earlier date such as termination without cause, the sale of the Company, or death. Participants vest in these agreements based on their years of service subsequent to being covered under these agreements. The accrued obligation of $14.8 million and $15.0 million as of December 31, 2018 and 2017 , respectively, is included in other liabilities and accrued expenses in the accompanying consolidated statements of financial condition. The Company recognized compensation expense of $571 thousand and $1.3 million related to these agreements for the years ended December 31, 2018 and 2017 , respectively. The Company has purchased insurance on the lives of the participants to help offset the cost of the benefits accrued under these agreements and provide death benefits to fund obligations in the event an employee dies prior to retirement. The cash surrender value of such policies was $17.9 million and $17.7 million at December 31, 2018 and 2017 , respectively, and is reflected in prepaid expenses and other assets in the accompanying consolidated statements of financial condition. Earnings on these life insurance policies were $181 thousand and $192 thousand for the years ended December 31, 2018 and 2017 , respectively. 401(k) Plan The Company maintains a 401(k) Savings Plan for substantially all employees age 18 or older who have completed at least six months of service. Employees may contribute up to the maximum statutory allowable contribution which was $18,500 and $18,000 for 2018 and 2017 , respectively. The Company matches 100% of employee salary contribution deferrals up to 3% of pay, plus 50% of employee salary contribution deferrals from 3% to 5% of pay for each payroll period. Company contributions for the years ended December 31, 2018 and 2017 were $925 thousand and $851 thousand , respectively. Other Awards In connection with a stock appreciation rights plan that was terminated on December 31, 2010, the Company has a liability for undistributed participant awards. The awards earn interest at the Company’s 12 -month jumbo certificate of deposit account rate until distributed. The interest rate may adjust monthly and equaled 1.10% at both December 31, 2018 and 2017 , respectively. At December 31, 2018 and 2017 , the liability for undistributed amounts totaled approximately $937 thousand and $1.2 million , respectively, and is included in other liabilities and accrued expenses on the consolidated statements of financial condition. Interest expense recorded on deferred cash payments for the years ended December 31, 2018 and 2017 totaled $11 thousand and $10 thousand , respectively. All undistributed awards will be fully paid by March 2021. Phantom Stock Plan On January 1, 2011, the Company established the Luther Burbank Corporation Phantom Stock Plan ("Plan") under which the Company awards phantom stock ("PS") to certain key executives and nonemployee directors. Each PS award entitles the holder to receive an amount in cash equal to the future value of each award. As defined in the Plan, the award value for unvested employee and nonemployee director awards is equal to the book value of the Company plus discretionary dividends of the Company paid since December 31, 2010, divided by the total number of common shares outstanding. Once fully vested, awards that were deferred earn interest at the Company’s 12 -month jumbo certificate of deposit account rate until distributed. The interest rate may adjust monthly and equaled 1.10% at both December 31, 2018 and 2017 . Awards issued prior to January 1, 2014 vest over a period established by the Board of Directors which is set at 80% at the end of four years of service and 100% at the end of five years of service. Beginning January 1, 2014, awards issued to Directors of the Company vest 100% after one year while management awards continue to vest at 80% at the end of four years of service and 100% at the end of five years of service. Each award will be settled on the five years anniversary of the award date or at such later date that may have been elected by the participant. The Company recognizes the share-based compensation liability as that portion of the value of the award that corresponds to the percentage of requisite service rendered at the reporting date. Because the fair market value will be re-measured at each reporting date through the date of vesting or settlement, compensation cost recognized during each year of the vesting periods will vary based on changes in the book value and total discretionary dividends of the Company. On December 7, 2017, in connection with the Company’s IPO, all unvested phantom stock awards held by employees and all vested and unvested phantom stock awards held by nonemployee directors were converted to restricted stock units on a per share basis. This conversion was accounted for as a modification of share based compensation wherein compensation was changed from a liability based plan to an equity based plan. In conjunction with this modification, the Company transferred $6.4 million of its existing PS liability to common stock. At December 31, 2018 and 2017 , the PS share-based liability totaled approximately $2.2 million and $2.4 million , respectively, and is included in other liabilities and accrued expenses on the consolidated statements of financial condition. Share-based compensation expense recognized for the years ended December 31, 2018 and 2017 totaled approximately $41 thousand and $1.3 million , respectively. The following table shows phantom stock award activity and the balance of share equivalents outstanding as of the periods indicated: Years Ended December 31, 2018 2017 Beginning balance – awards outstanding 237,400 1,274,600 Share equivalents granted — 50,000 Share equivalents exercised (22,038 ) (226,900 ) Share equivalents forfeited — (210,900 ) Share equivalents converted to restricted stock units — (649,400 ) Ending balance – awards outstanding 215,362 237,400 At December 31, 2018 and 2017 , 215,362 and 237,400 share equivalents issued and outstanding under the PS plan were vested, respectively. The Company does not intend to issue any additional awards under the phantom stock plan.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	12 Months Ended
STOCK BASED COMPENSATION	Dec. 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 the Luther Burbank Corporation 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. 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 years ended December 31, 2018 and 2017 totaled $4.4 million and $586 thousand , respectively. No RSAs or RSUs had been granted prior to December 2017. The fair value of RSAs and RSUs that vested during the year ended December 31, 2018 was $3.8 million . No RSAs or RSUs vested during the year ended December 31, 2017. As of December 31, 2018 and 2017 , there was $4.3 million and $7.2 million , respectively, of unrecognized compensation expense related to 985,869 and 1,184,621 unvested shares of RSAs and RSUs, respectively. As of December 31, 2018 and 2017 , this expense was expected to be recognized over a weighted average period of 1.91 years and 2.40 years , respectively. As of December 31, 2018 and 2017 , 169,490 and 135,079 shares, respectively, 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: Years Ended December 31, 2018 2017 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning of the period balance 1,319,700 $ 10.75 — $ — Phantom stock converted to restricted stock units — — 649,400 10.75 Shares granted 131,140 12.77 670,300 10.75 Shares settled (272,080 ) 10.75 — — Shares forfeited (23,401 ) 10.75 — — End of the period balance 1,155,359 $ 10.97 1,319,700 $ 10.75 Under its Omnibus Plan, the Company reserved 3,360,000 shares of common stock for new awards. At December 31, 2018 and 2017 , there were 2,581,960 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	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 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. 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 loans' 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 FHLB stock due to restrictions placed on its transferability. The fair value of servicing rights is determined using a valuation model that utilizes interest rate, prepayment speed, and default rate assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data. 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 for similar terms. 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: Fair Level Measurements Using (Dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 As of December 31, 2018: Financial assets: Cash and cash equivalents $ 91,697 $ 91,697 $ 91,697 $ — $ — Investment securities: Available for sale 619,966 619,966 976 618,990 — Held to maturity 11,860 11,625 — 11,625 — Loans receivable, net 6,096,316 6,092,885 — — 6,092,885 Accrued interest receivable 20,220 20,220 62 1,739 18,419 Federal Home Loan Bank stock 31,823 N/A N/A N/A N/A Financial liabilities: Deposits $ 5,001,040 $ 4,957,054 $ 1,703,607 $ 3,253,447 $ — FHLB advances 1,143,132 1,144,326 — 1,144,326 — Junior subordinated deferrable interest debentures 61,857 56,596 — 56,596 — Senior debt 94,293 99,673 — 99,673 — Accrued interest payable 4,307 4,307 — 4,307 — As of December 31, 2017: Financial assets: Cash and cash equivalents $ 75,578 $ 75,578 $ 75,578 $ — $ — Investment securities: Available for sale 503,288 503,288 984 502,304 — 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: 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 December 31, 2018 and 2017 . Recurring Basis The Company is required or permitted to record the following assets and liabilities at fair value on a recurring basis (dollars in thousands): Description Fair Value Level 1 Level 2 Level 3 As of December 31, 2018: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 192,113 $ — $ 192,113 $ — Commercial MBS and CMOs 292,951 — 292,951 — Agency bonds 122,488 — 122,488 — U.S. Treasury 976 976 — — CRA Qualified Investment Fund 11,438 — 11,438 — Total investment securities available for sale $ 619,966 976 $ 618,990 — Mortgage servicing rights $ 3,463 $ — $ — $ 3,463 As of December 31, 2017: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 243,372 $ — $ 243,372 $ — Commercial MBS and CMOs 130,017 — 130,017 — Agency bonds 117,222 — 117,222 — U.S. Treasury 984 984 — — CRA Qualified Investment Fund 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ 984 $ 502,304 $ — Mortgage servicing rights $ 4,078 $ — $ — $ 4,078 Interest rate cap premium $ 1 $ — $ 1 $ — There were no transfers between Level 1 and Level 2 during 2018 or 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): Description Fair Value Level 1 Level 2 Level 3 As of December 31, 2017: Impaired loans: Single family residential $ 191 $ — $ — $ 191 As of December 31, 2018 , there were no assets or liabilities measured at fair value on a non-recurring basis. At December 31, 2017 , an impaired loan of $196 thousand was adjusted to a fair value of $191 thousand by recording a charge-off 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 December 31, 2018 and 2017 .

VARIABLE INTEREST ENTITIES (VIE

VARIABLE INTEREST ENTITIES (VIE)	12 Months Ended
VARIABLE INTEREST ENTITIES (VIE)	Dec. 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. The Company evaluated its 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. The assessment includes an evaluation of the Company's continuing involvement with the VIE and the nature and significance of it's variable interests. Multifamily loan securitization With respect to the securitization transaction with Freddie Mac which settled September 27, 2017, the Company's 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 the variable interests and continuing involvement in the VIE, the Company determined that it does 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, the Company determined that the VIE associated with the multifamily securitization should not be included in the consolidated financial statements of the Bank. The Company believes it's maximum exposure to loss as a result of 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 . The reserve for estimated losses with respect to the reimbursement obligation totaled $1.4 million and $1.7 million as of December 31, 2018 and 2017 , respectively, based upon an analysis of quantitative and qualitative data over the underlying loans included in the securitization pool. No disbursements have been made in connection with the reimbursement obligation.

LOAN SALE AND SECURITIZATION AC

LOAN SALE AND SECURITIZATION ACTIVITIES	12 Months Ended
LOAN SALE AND SECURITIZATION ACTIVITIES	Dec. 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 and only 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 GAAP 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 December 31, 2018 , the Bank’s net worth was $727.1 million . 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. The following table provides cash flows associated with the Company's loan sale activities: Years Ended December 31, (Dollars in thousands) 2018 2017 Proceeds from loan sales $ 19,604 $ 689,372 Servicing fees 1,536 675 The following table provides information about the loans transferred through sales or securitization and not recorded on the consolidated statements 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 As of December 31, 2018: Principal balance of loans $ 26,200 $ 611,308 Loans 90+ days past due — — Charge-offs, net — — As of 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	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 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 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 statements 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 as it does for on-balance sheet instruments. Commitments to fund loans 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 December 31, 2018 and 2017 , the Company had outstanding commitments of approximately $70.9 million and $65.8 million , respectively, for loans. Unfunded loan commitment reserves totaled $52 thousand and $197 thousand at December 31, 2018 and 2017 , respectively. Operating Leases The Company leases various office premises under long-term operating lease agreements. These leases expire between 2019 and 2028 , with certain leases containing either three , five or ten year renewal options. At December 31, 2018 , minimum commitments under these non-cancellable leases before considering renewal options are as follows (dollars in thousands): Years ending December 31, 2019 $ 5,246 2020 3,851 2021 3,380 2022 2,419 2023 1,255 Thereafter 1,764 Total $ 17,915 Rent expense under operating leases was $5.3 million and $4.4 million for the years ended December 31, 2018 and 2017 , respectively. Sublease income earned was $788 thousand and $624 thousand for the years ended December 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 December 31, 2018 and 2017 , the Company had $736 thousand and $845 thousand , respectively, in cash balances exceeding the insured amounts.

UNAUDITED QUARTERLY FINANCIAL I

UNAUDITED QUARTERLY FINANCIAL INFORMATION	12 Months Ended
UNAUDITED QUARTERLY FINANCIAL INFORMATION	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
UNAUDITED QUARTERLY FINANCIAL INFORMATION	UNAUDITED QUARTERLY FINANCIAL INFORMATION The following tables summarize the unaudited condensed consolidated results of operations for each of the quarters during the fiscal years ended December 31, 2018 and 2017 : (Dollars in thousands, except per share data) For the Three Months Ended March 31 June 30 September 30 December 31 2018 Net interest income $ 30,465 $ 31,159 $ 31,712 $ 31,751 Provision for loan losses 1,500 1,300 650 150 Net interest income after provision for loan losses 28,965 29,859 31,062 31,601 Noninterest income 1,025 817 1,043 1,246 Noninterest expense 14,713 14,922 15,090 17,962 Income before income taxes 15,277 15,754 17,015 14,885 Income tax expense 4,175 4,528 4,886 4,282 Net income $ 11,102 $ 11,226 $ 12,129 $ 10,603 EPS (1): Basic $ 0.20 $ 0.20 $ 0.22 $ 0.19 Diluted $ 0.20 $ 0.20 $ 0.21 $ 0.19 2017 Net interest income $ 26,850 $ 27,733 $ 28,760 $ 27,554 Provision for (reversal of) loan losses 309 (6,481 ) 1,550 1,250 Net interest income after provision for (reversal of) loan losses 26,541 34,214 27,210 26,304 Noninterest income 882 201 4,931 1,494 Noninterest expense 14,703 14,840 13,782 13,221 Income before income taxes 12,720 19,575 18,359 14,577 Income tax expense (benefit) 425 654 612 (5,844 ) Net income $ 12,295 $ 18,921 $ 17,747 $ 20,421 EPS (1): Basic $ 0.29 $ 0.45 $ 0.42 $ 0.45 Diluted $ 0.29 $ 0.45 $ 0.42 $ 0.45 (1) The quarterly EPS amounts, when added, may not coincide with the full fiscal year EPS reported on the Consolidated Statements of Income due to differences in the computed weighted average shares outstanding as well as rounding differences.

PARENT COMPANY ONLY FINANCIAL I

PARENT COMPANY ONLY FINANCIAL INFORMATION	12 Months Ended
PARENT COMPANY ONLY FINANCIAL INFORMATION	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
PARENT COMPANY ONLY FINANCIAL INFORMATION	PARENT COMPANY ONLY FINANCIAL INFORMATION Summary parent company only financial information for the years ended December 31, 2018 and 2017 is as follows (dollars in thousands): CONDENSED STATEMENTS OF FINANCIAL CONDITION December 31, 2018 2017 ASSETS Cash and cash equivalents $ 9,224 $ 11,612 Investment in Bank 727,073 682,026 Investment in Burbank Financial, Inc. 249 230 Investment in Luther Burbank Statutory Trusts 1 & 2 1,857 1,857 Receivable from Bank 21 6,990 Other assets 6 3,195 Total assets $ 738,430 $ 705,910 LIABILITIES AND STOCKHOLDERS' EQUITY Junior subordinated deferrable interest debentures $ 61,857 $ 61,857 Other borrowings 94,293 94,161 Interest payable on junior subordinated deferrable interest debentures 109 89 Other liabilities and accrued expenses 1,026 58 Stockholders' equity 581,145 549,745 Total liabilities and stockholders' equity $ 738,430 $ 705,910 CONDENSED STATEMENTS OF INCOME AND COMPREHESIVE INCOME Years Ended December 31, 2018 2017 Net interest expense $ (8,505 ) $ (7,924 ) Dividend income from Bank 6,800 35,600 Other operating expense (451 ) (110 ) Income before income tax benefit and undistributed net income of subsidiaries (2,156 ) 27,566 Income tax benefit 2,362 3,392 Income before undistributed net income of subsidiaries 206 30,958 Equity in undistributed net income of subsidiaries 44,854 38,426 Net income (1) $ 45,060 $ 69,384 Comprehensive income $ 45,060 $ 69,384 (1) The group files a single tax return and the subsidiaries are treated, for federal and California tax purposes, as divisions of a single corporation. The Company’s share of income tax expense is based on the amount which would be payable if separate returns were filed. Accordingly, the Company’s equity in the net income of its subsidiaries, including the Bank, are excluded from the computation of the provision for income taxes for financial statement purposes. Prior to December 1, 2017, the Company had made an S-Corporation election. As a result of the S-Corporation election, there was minimal federal tax at the Corporation level. The Company did provide tax at the rate of 3.5% to reflect the rate charged by California against the income of S-Corporations. On December 1, 2017 the Company terminated its S-Corporation election and was subsequently subject to tax as a C-Corporation. From December 1, 2017 through December 31, 2017, the Company did provide tax at the rate of 35.0% and 10.84% to reflect the rates charged for federal and California taxes, respectively, against the income of a C-Corporation. For the year ended December 31, 2018 , the Company provided tax at the rates of 21% and 10.84% for federal and California taxes, respectively. CONDENSED STATEMENTS OF CASH FLOWS Years Ended December 31, 2018 2017 Cash flows from operating activities: Net income $ 45,060 $ 69,384 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (44,854 ) (38,426 ) Change in receivable from Bank 6,969 (6,990 ) Stock based compensation 4,355 6,965 Net change in other assets and liabilities 4,309 (2,922 ) Net cash provided by operating activities 15,839 28,011 Cash flows from investing activities: Capital contribution to Bank — (98,000 ) Net cash used by investing activities — (98,000 ) Cash flows from financing activities: Cash paid for dividends (15,963 ) (67,800 ) Shares withheld for taxes on vested restricted stock (769 ) — Shares repurchased (1,495 ) — Proceeds from issuance of common stock — 138,287 Net cash (used in) provided by financing activities (18,227 ) 70,487 (Decrease) increase in cash and cash equivalents (2,388 ) 498 Cash and cash equivalents, beginning of year 11,612 11,114 Cash and cash equivalents, end of year $ 9,224 $ 11,612

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Accounting	Basis of Presentation The consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting standards and prevailing practices within the banking industry and include the accounts of the Company and its wholly-owned subsidiaries. The Company currently has two unconsolidated subsidiaries in the form of wholly-owned statutory business trusts, which were formed to issue junior subordinated deferrable interest debentures. See Note 9, “Junior Subordinated Deferrable Interest Debentures,” for additional information regarding these trusts. All intercompany accounts and transactions have been eliminated. In preparing financial statements in conformity with generally accepted accounting principles ("GAAP"), management makes estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and deposits with other financial institutions with maturities of less than three months. Net cash flows are reported for customer loan and deposit transactions, and interest bearing deposits in other financial institutions.
Restricted Cash Balances	Restricted Cash Balances Federal Reserve Bank regulations require the Company to maintain reserve balances on deposit with the Federal Reserve Bank.
Investment Securities	Investment Securities The Company classifies its investment securities into two categories, available for sale and held to maturity, at the time of purchase. Securities available for sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of applicable taxes. Investment securities held to maturity are measured at amortized cost, based on the Company’s positive intent and ability to hold such securities to maturity. Interest income includes amortization/accretion of purchase premiums/discounts. Premiums and discounts are amortized, or accreted, over the life of the related investment security as an adjustment to interest income using a method that approximates the interest method. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. An investment security is impaired when its carrying value is greater than its fair value. Investment securities that are impaired are evaluated on at least a quarterly basis and more frequently when economic or market conditions warrant such an evaluation to determine whether such a decline in their fair value is other than temporary. Management utilizes criteria such as the magnitude and duration of the decline and the intent and ability of the Company to retain its investment in the securities for a period of time sufficient to allow for an anticipated recovery in fair value, in addition to the reasons underlying the decline, to determine whether the loss in value is other than temporary. The term ‘‘other than temporary’’ is not intended to indicate that the decline is permanent, but indicates that the prospects for a near-term recovery of value is not necessarily favorable, or that there is a lack of evidence to support a realizable value equal to or greater than the carrying value of the investment. Once a decline in value is determined to be other than temporary, and management does not intend to sell the security or it is more likely than not that the Company will not be required to sell the security before recovery, only the portion of the impairment loss representing credit exposure is recognized as a charge to earnings, with the balance recognized as a charge to other comprehensive (loss) income. If management intends to sell the security or it is more likely than not that the Company will be required to sell the security before recovering its forecasted cost, the entire impairment loss is recognized as a charge to earnings.
Loans Receivable	Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding unpaid principal balances, net of purchase premiums and discounts, deferred loan origination fees and costs, and the allowance for loan losses. Interest income is accrued on the unpaid principal balance. Premiums or discounts to acquire loans are amortized over the life of the loan using a method that approximates the interest method. The Company charges fees for originating loans. These fees, net of certain related direct loan origination costs, are deferred. The net deferred fees or costs on loans held for investment are recognized as an adjustment of the loan’s yield over the contractual life of the loan using the interest method. The Company ceases to amortize deferred fees or costs on loans for which the accrual of interest has been discontinued. Other loan fees and charges representing service costs are reported in income when collected or earned.
Loans Held for Sale	Loans Held for Sale The lower of aggregate cost or fair value option has been elected for certain mortgage loans originated and intended for sale in the secondary market. The lower of aggregate cost or fair value is determined by outstanding commitments from investors or secondary market price indications, with any net unrealized losses recorded as a valuation allowance and charged to earnings. Long term, fixed rate mortgage loans made in conjunction with the Grow program to finance loans for low- or moderate-income borrowers or for properties in low- to moderate-income census tracts were previously recorded as available for sale upon origination. In light of the extended holding period for these loans to establish payment performance prior to sale as well as the likelihood of increasing market rates, the Company transferred the balance of these loans, or $38.3 million , from loans held for sale to loans held for investment during the fourth quarter of 2017. As a result of transfer, the Company recorded a fair value loss of $289 thousand , which is included in noninterest expense within the consolidated statements of income. Mortgage loans held for sale are sold with servicing rights released or retained. Realized gains and losses on sales of mortgage loans are accounted for under the specific identification method and based on the difference between the selling price and the carrying value of the related loan sold. The carrying value of mortgage loans sold servicing retained is reduced by the amount allocated to the servicing right.
Concentration of Credit Risk	Concentration of Credit Risk The majority of our customers are individuals and businesses located and doing business in the state of California, with approximately half our customers located in Los Angeles County and Orange County. The Company's exposure to credit risk is significantly affected by changes in the economy of California, and specifically, Los Angeles and Orange Counties.
Allowance for Loan Losses	Allowance for Loan Losses The allowance for loan losses represents the estimated probable incurred credit losses in the Company’s loan portfolio. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower circumstances, estimated collateral values, economic conditions, and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. The Company performs periodic and systematic detailed reviews of its loan portfolio to assess the overall collectability of its loans. The Company’s methodology for assessing the appropriateness of the allowance consists of the combined total of two key components. The first component covers loans that are impaired. All loans are evaluated for impairment on a recurring basis. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due, including principal and interest, according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Loans that are reported as troubled debt restructures (“TDRs”) are considered impaired. A restructuring of a debt constitutes a TDR if the Company, for economic or legal reasons related to the debtor’s financial difficulties, grants a concession to the debtor that it would not otherwise consider. Restructured workout loans typically present an elevated level of credit risk as the borrowers are not able to perform according to the original contractual terms. Impaired loans, including TDRs, are primarily measured based on the present value of loan payments expected to be received discounted at the loans’ original effective contractual interest rate. Impaired loans and TDRs that are solely dependent on the operation or liquidation of collateral for repayment are measured for impairment at the fair value of the collateral less estimated costs to sell. If the recorded investment in the impaired loans exceeds the value of funds to be received, an allowance is established as a component of the total allowance for loan losses unless the loans are solely dependent on the collateral for repayment, in which case the amount that exceeds the fair value of the collateral is charged off. The second element of the allowance covers probable incurred losses inherent in performing loans that have yet to be specifically identified for impairment. This component of the allowance is estimated by applying reserve factors based on average historical loss experience for the previous nine to ten years to various loan stratifications based on factors affecting the perceived level of risk including the type of collateral, loan program, and credit classification. The resulting loss amount is adjusted for qualitative factors to be reflective of risks or trends affecting the loan portfolio including economic conditions, the real estate market, volumes, delinquencies, and credit concentrations. The Company has identified the following loan portfolio segments based on collateral type: Multifamily residential and commercial real estate loans - These loans typically involve greater principal amounts than other types of loans, and repayment depends upon income generated, or expected to be generated, by the property securing the loan in amounts sufficient to cover operating expenses and debt service, which may be adversely affected by changes in the economy or local market conditions. Multifamily residential and commercial real estate loans also expose a lender to significant credit risk because the collateral securing these loans typically cannot be sold as easily as single family residential real estate. In addition, some commercial real estate loans are not fully amortizing and contain large balloon payments upon maturity. Such balloon payments may require the borrower to either sell or refinance the underlying property in order to comply with the terms of the loan agreement, which may increase the risk of default or non-payment. Single family residential real estate loans - The degree of risk in single family residential real estate lending depends primarily on the loan amount in relation to collateral value, the interest rate, and the borrower’s ability to repay in an orderly fashion. These loans generally possess a lower inherent risk of loss than other real estate portfolio segments. Economic trends determined by unemployment rates and other key economic indicators are closely correlated to the credit quality of these loans. Weak economic trends indicate that the borrowers’ capacity to repay their obligations may be deteriorating. Construction and land loans - This type of lending generally possess a higher inherent risk of loss than other real estate portfolio segments. A major risk arises from the necessity to complete projects within specified costs and time lines. Trends in the construction industry significantly impact the credit quality of these loans, as demand drives construction activity. In addition, trends in real estate values significantly impact the credit quality of these loans, as property values determine the economic viability of construction projects. Non-mortgage loans - These loans are not a part of our normal business activity, but rather are made on an exception basis typically in conjunction with our efforts to support CRA activities. The loans carry a high inherent risk of loss as they generally have no secondary source of repayment or any collateral support. The total allowance is increased by the provision for loan losses, which is charged against the current period operating results, and decreased by the amount of loan charge-offs, net of recoveries. Losses incurred upon the initial acquisition of real estate owned through foreclosure are charged to the allowance for loan losses.
Accrued Interest Receivable on Loans	Accrued Interest Receivable on Loans Interest receivable is only accrued if deemed collectible. It is the Company’s policy to place a loan on non-accrual status in the event that the borrower is 90 days or more delinquent (unless the loan is well secured and in the process of collection), or earlier if the timely collection of contractual payments appears doubtful. At the time a loan is placed on non-accrual, accrued interest is reversed out of interest income. Cash payments subsequently received on non-accrual loans are recognized as income only where the future collection of the remaining principal is considered by management to be probable. Loans are restored to accrual status only when the loan is less than 90 days delinquent and not in foreclosure, and the borrower has demonstrated the ability to make future payments of principal and interest.
Servicing Rights	Servicing Rights When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value. Fair value is based on a valuation model that calculates the present value of estimated future net servicing income. Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports changes in the fair value of servicing assets in earnings in the period in which the changes occur, and such changes are included with other income on the consolidated statements of income. The fair values of servicing rights are calculated using model assumptions including factors such as prepayment rates, market rates and other model cash flow assumptions. Absent other changes, an increase (decrease) to the estimated life of serviced loans would generally increase (decrease) the fair value of servicing rights. The fair value of servicing rights are subject to significant fluctuation as a result of changes in estimates and when actual factors such as prepayment speeds, default rates, and losses differ from model assumptions. Servicing fee income, which is reported on the consolidated statements of income as a component of other income, is recorded for fees earned for servicing loans. The fees are typically based on a contractual percentage of the outstanding principal and are recorded as income when earned. Fair value adjustments are netted against loan servicing fee income.
Transfers of Financial Assets	Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Real Estate Owned (REO)	Real Estate Owned ("REO") Real estate acquired as a result of loan foreclosure or a deed in lieu of foreclosure is initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. Physical possession of a residential real estate property collateralizing a consumer mortgage loan occurs when legal title is obtained upon completion of foreclosure or when the borrower conveys all interest in the property to satisfy the loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Fair value is typically based on a real estate appraisal. REO is subsequently accounted for at the lower of cost or fair value less estimated costs to sell. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Costs after acquisition related to the development of REO are capitalized while operating costs are charged to expense. Gains or losses realized and expenses incurred in connection with the disposition of foreclosed real estate are charged to noninterest income.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation and amortization. Land is carried at cost. The Company’s policy is to depreciate buildings, furniture and equipment on the straight-line basis over the estimated useful lives of the various assets and to amortize leasehold improvements over the shorter of the asset life or lease term as follows: Leasehold improvements Lesser of term of lease or life of improvement Furniture and equipment 2 to 7 years Building 39 years The Company evaluates the recoverability of long-lived assets on an ongoing basis. When assets are sold or otherwise disposed of, the cost and related accumulated depreciation or amortization are removed from the accounts, and any resulting gain or loss is recognized in income for the period. The cost of maintenance and repairs is charged to expense as incurred.
Federal Home Loan Bank Stock	Federal Home Loan Bank Stock As a member of the Federal Home Loan Bank of San Francisco ("FHLB"), the Bank is required to own capital stock in an amount specified by the level of FHLB borrowings and other factors, and may invest in additional amounts. FHLB stock is carried at cost, classified as a restricted security and periodically evaluated for impairment based on the ultimate recovery of par value. Cash dividends are reported as noninterest income on an accrual basis.
Goodwill	Goodwill Goodwill arises from business combinations and is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill determined to have an indefinite useful life is not amortized, but tested for impairment at least annually or more frequently if events and circumstances exist that indicate that a goodwill impairment test should be performed. If the carrying amount of the goodwill exceeds its fair value, an impairment loss is recognized in the amount of the excess and the carrying value of the goodwill is reduced accordingly. Goodwill is the only intangible asset with an indefinite life on the balance sheet.
Bank-Owned Life Insurance (BOLI)	Bank-Owned Life Insurance (“BOLI”) Bank-owned life insurance is initially recorded at cost. Subsequently, BOLI is carried at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement. Increases in contract value are recorded as noninterest income and insurance proceeds received are recorded as a reduction of the contract value.
Reserve for Loan Commitments	Reserve for Loan Commitments The Company maintains a reserve within other liabilities associated with commitments to fund undisbursed loan commitments on outstanding loans. This reserve is determined based upon the historical loss experience of similar loans held by the Company at each period end. Any changes in this reserve amount are recognized through earnings as a component of noninterest expense.
Marketing	Marketing Marketing costs are expensed as incurred.
Derivatives	Derivatives At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (‘‘fair value hedge’’), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (‘‘cash flow hedge’’), or (3) an instrument with no hedging designation (‘‘stand-alone derivative’’). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported in earnings, as noninterest income. Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged. The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended. When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect these estimates.
Income Taxes	Income Taxes Prior to December 1, 2017, the Company had elected to be taxed as an S-Corporation for federal and state income tax purposes. As such, stockholders were taxed on their pro rata share of earnings and deductions of the Company, regardless of the amount of distributions received. Generally, the Company was not subject to federal income tax but was subject to California tax at the rate of 3.5% of taxable income. Effective December 1, 2017, the Company converted from an S-Corporation to a C-Corporation and is subject to federal and state taxes at the applicable C-Corporation rates which were 35.0% and 10.84%, respectively at that date. On December 22, 2017, H.R. 1, the Tax Cuts and Jobs Act, was signed into law reducing the federal C-Corporation rate to 21.0% effective January 1, 2018. Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amount of assets and liabilities and their tax bases. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The Company uses a comprehensive model for recognizing, measuring, presenting, and disclosing in the financial statements tax positions taken or expected to be taken on a tax return. A tax position is recognized as a benefit only if it is ‘‘more likely than not’’ that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the ‘‘more likely than not’’ test, no tax benefit is recorded. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in tax expense.
Share-Based Compensation	Share-Based Compensation The Company has issued awards of equity instruments, such as restricted stock awards (“RSAs”) and restricted stock units (“RSUs”), to employees and certain nonemployee directors. Compensation expense related to restricted stock is based on the fair value of the underlying stock on the award date and is amortized over the service period, defined as the vesting period, using the straight-line method. The vesting period is generally three years. Compensation expense is reduced for actual forfeitures as they occur. Unvested RSAs and RSUs participate with common stock in any dividends declared, but are paid only on the shares which ultimately vest. Such dividends are accrued and charged to compensation expense over the service period.
Comprehensive Income	Comprehensive Income Comprehensive (loss) income includes net income and other comprehensive (loss) income. The only items of other comprehensive (loss) income for the Company are unrealized gains and losses on investment securities classified as available for sale, net of tax, and unrealized gains and losses on cash flow hedges, net of tax. Reclassification adjustments resulting from gains or losses on investment securities available for sale or cash flow hedges that have been realized and included in net income of the current period that also had been included in other comprehensive income as unrealized holding gains or losses in the period in which they arose have been excluded from comprehensive (loss) income of the current period to avoid double counting.
Common Stock	Common Stock 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.
Earnings Per Share (EPS)	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 common 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.
Related Party Transactions	Related Party Transactions In the normal course of business, the Company may accept deposits from officers and directors, as well as companies and individuals affiliated with officers and directors of the Company. As of December 31, 2018 and 2017 , there were $17.0 million and $12.6 million , respectively, of such deposits. The Company does not permit loans to officers and directors or companies and individuals affiliated with officers and directors of the Company, with the exception of overdraft protection in limited circumstances. As of December 31, 2018 and 2017 , there were no such overdraft loans outstanding.
Business Segments	Business Segme nts While the chief decision-makers monitor the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Discrete financial information is not available other than on a Company-wide basis. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment.
Reclassifications	Reclassifications Certain prior balances in the consolidated financial statements have been reclassified to conform to current year presentation. These reclassifications had no effect on prior year net income or stockholders’ equity.
Adoption of New Financial Accounting Standards	Adoption of New Financial Accounting Standards FASB ASU 2014-09 In May 2014, the Financial Accounting Standards Board ("FASB") issued "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09") implementing a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 establishes a five-step model which entities must follow to recognize revenue and removes inconsistencies and weaknesses in existing guidance. The guidance does not apply to revenue associated with financial instruments, including loans and investment securities that are accounted for under other GAAP, which comprises a significant portion of our revenue stream. The impact of the new standard was mainly limited to the timing of revenue recognition with regard to the Company's service charges on deposits accounts and gains or losses on the sale of other real estate owned. ASU 2014-09 is effective for the Company on January 1, 2019 and is not expected to have a material effect on the Company's operating results or financial condition. 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 balance sheet 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 will adopt this guidance on January 1, 2019. The adoption of this standard is not expected to have a material effect on the Company’s operating results or financial condition. FASB ASU 2016-02 In February 2016, the FASB amended existing guidance that requires lessees recognize the following for all leases (with the exception of short-term leases) at the commencement date (1) a lease liability, which is the lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers. These amendments are effective for PBEs for annual periods and interim periods within those annual periods beginning after December 15, 2018. As an emerging growth company, the Company expects to adopt this guidance on December 31, 2020 assuming the Company remains an emerging growth company through such date. Upon adoption of this guidance, the Company will recognize a liability for its obligations under its operating leases and a corresponding right-of-use asset for its right to use leased properties over the lease term. The Company has analyzed its population of operating leases subject to this guidance and the adoption of this standard is not expected to have a material effect on the Company’s operating results. FASB ASU 2016-13 In June 2016, FASB issued guidance to replace the incurred loss model with an expected loss model, which is referred to as the current expected credit loss ("CECL") model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held to maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. The transition will be applied as follows: - For debt securities with other than temporary impairment ("OTTI"), the guidance will be applied prospectively. - Existing purchased credit impaired ("PCI") assets will be grandfathered and classified as purchased credit deteriorated ("PCD") assets at the date of adoption. The assets will be grossed up for the allowance for expected credit losses for all PCD assets at the date of adoption and will continue to recognize the noncredit discount in interest income based on the yield of such assets as of the adoption date. Subsequent changes in expected credit losses will be recorded through the allowance. - For all other assets within the scope of CECL, a cumulative-effect adjustment will be recognized in retained earnings as of the beginning of the first reporting period in which the guidance is effective. These amendments are effective for PBEs that are Securities and Exchange Commission (“SEC”) filers for annual periods and interim periods within those annual periods beginning after December 15, 2019. As an emerging growth company, the Company expects to adopt this guidance on January 1, 2022 assuming the Company remains an emerging growth company through such date. We expect to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective. The adoption of this standard is still being evaluated by the Company as to whether or not it will have a material effect on the Company’s operating results or financial condition. FASB ASU 2016-15 In August 2016, the FASB issued guidance related to classification of certain cash receipts and cash payments. The update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. For PBEs, the guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted and must be applied using a retrospective transitional method to each period presented. As an emerging growth company, the Company expects to adopt this guidance on December 31, 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 adopted this guidance on December 31, 2018. The adoption of this standard did not have a material effect on the Company’s operating results or financial condition. FASB ASU 2017-08 In March 2017, the FASB issued guidance related to Premium Amortization on Purchased Callable Debt Securities. The ASU shortens the amortization period for certain callable debt securities purchased at a premium by requiring that the premium be amortized to the earliest call date. Under current GAAP, entities generally amortize the premium as an adjustment of yield over the contractual life of the instrument. The amendments in this update affects all entities that hold investments in callable debt securities that have an amortized cost basis in excess of the amount that is repayable by the issuer at the earliest call date (that is, at a premium). The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments are effective for PBEs for annual periods beginning after December 15, 2018, and interim periods thereafter. As an emerging growth company, the Company expects to adopt this guidance on December 31, 2020 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 2017-12 In August 2017, the FASB provided guidance to improve the financial reporting of hedging relationships to better portray the economic results of an entity's risk management activities in its financial statements. ASU 2017-12 is effective for PBEs for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. As an emerging growth company, the Company expects to adopt this guidance on December 31, 2020 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 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. The stranded tax amounts related to unrealized gains and losses in connection with the Company's available for sale investment portfolio and cash flow hedges. FASB ASU 2018-13 In August 2018, the FASB issued guidance that eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. Entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, but public companies will be required to disclose the range and weighted average terms used to develop significant unobservable inputs for Level 3 fair value measurements. The guidance also modifies certain disclosure requirements for nonpublic entities to make them less burdensome. The guidance is effective for all entities for fiscal years beginning after December 15, 2019 and for interim periods within those fiscal years, but entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The adoption of this standard in not expected to have a material impact 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. 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 loans' 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 FHLB stock due to restrictions placed on its transferability. The fair value of servicing rights is determined using a valuation model that utilizes interest rate, prepayment speed, and default rate assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data. 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 for similar terms. 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2018
Accounting Policies [Abstract]
Schedule of Premises and Equipment	The Company’s policy is to depreciate buildings, furniture and equipment on the straight-line basis over the estimated useful lives of the various assets and to amortize leasehold improvements over the shorter of the asset life or lease term as follows: Leasehold improvements Lesser of term of lease or life of improvement Furniture and equipment 2 to 7 years Building 39 years Premises and equipment consist of the following: December 31, (Dollars in thousands) 2018 2017 Leasehold improvements $ 16,404 $ 15,997 Furniture and equipment 11,318 10,866 Building 6,174 6,160 Land 2,429 2,429 Total 36,325 35,452 Less: accumulated depreciation (15,344 ) (13,000 ) Premises and equipment, net $ 20,981 $ 22,452
Schedule of Earnings Per Share, Basic and Diluted	(Dollars in thousands, except per share amounts) Years Ended December 31, 2018 2017 Net income $ 45,060 $ 69,384 Weighted average basic common shares outstanding 56,196,648 42,916,879 Add: Dilutive effects of assumed vesting of restricted stock 628,754 41,057 Weighted average diluted common shares outstanding 56,825,402 42,957,936 Income per common share: Basic EPS $ 0.80 $ 1.62 Diluted EPS $ 0.79 $ 1.62 Anti-dilutive shares not included in calculation of diluted earnings per share — —

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
INVESTMENT SECURITIES (Tables)	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	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) Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value At December 31, 2018: Government and Government Sponsored Entities: Residential mortgage-backed securities and collateralized mortgage obligations ("MBS and CMOs") $ 194,297 $ 339 $ (2,523 ) $ 192,113 Commercial MBS and CMOs 294,276 979 (2,304 ) 292,951 Agency bonds 125,329 7 (2,848 ) 122,488 U.S. Treasury 1,008 — (32 ) 976 CRA Qualified Investment Fund 12,000 — (562 ) 11,438 Total available for sale investment securities $ 626,910 $ 1,325 $ (8,269 ) $ 619,966 At December 31, 2017: Government and Government Sponsored Entities: Residential MBS and CMOs $ 245,062 $ 361 $ (2,051 ) $ 243,372 Commercial MBS and CMOs 131,419 — (1,402 ) 130,017 Agency bonds 120,405 30 (3,213 ) 117,222 U.S. Treasury 1,010 — (26 ) 984 CRA Qualified Investment Fund 12,000 — (307 ) 11,693 Total available for sale investment securities $ 509,896 $ 391 $ (6,999 ) $ 503,288 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: December 31, 2018 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government and Government Sponsored Entities: Residential MBS and CMOs $ 31,728 $ (304 ) $ 102,503 $ (2,219 ) $ 134,231 $ (2,523 ) Commercial MBS and CMOs 58,725 (432 ) 114,159 (1,872 ) 172,884 (2,304 ) Agency bonds 4,906 (18 ) 114,575 (2,830 ) 119,481 (2,848 ) U.S. Treasury — — 976 (32 ) 976 (32 ) CRA Qualified Investment Fund — — 11,438 (562 ) 11,438 (562 ) Total available for sale investment securities $ 95,359 $ (754 ) $ 343,651 $ (7,515 ) $ 439,010 $ (8,269 ) December 31, 2017 Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Government and Government Sponsored Entities: Residential MBS and CMOs $ 60,760 $ (463 ) $ 100,230 $ (1,588 ) $ 160,990 $ (2,051 ) Commercial MBS and CMOs 34,602 (343 ) 95,415 (1,059 ) 130,017 (1,402 ) Agency bonds 9,851 (148 ) 104,340 (3,065 ) 114,191 (3,213 ) U.S. Treasury — — 984 (26 ) 984 (26 ) CRA Qualified Investment Fund 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 )
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) Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Estimated Fair Value As of December 31, 2018: Government Sponsored Entities: Residential MBS $ 11,593 $ 27 $ (262 ) $ 11,358 Other investments 267 — — 267 Total held to maturity investment securities $ 11,860 $ 27 $ (262 ) $ 11,625 As of December 31, 2017: Government Sponsored Entities: Residential MBS $ 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: Less than 12 Months 12 Months or More Total (Dollars in thousands) Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses As of December 31, 2018: Government Sponsored Entities: Residential MBS $ 6,481 $ (111 ) $ 3,739 $ (151 ) $ 10,220 $ (262 ) As of December 31, 2017: Government Sponsored Entities: Residential MBS $ 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 December 31, 2018 : December 31, 2018 (Dollars in thousands) Amortized Cost Fair Value Available for sale investments securities One to five years $ 118,413 $ 115,551 Five to ten years 4,924 4,906 Beyond ten years 3,000 3,007 Equity securities 12,000 11,438 MBS and CMOs 488,573 485,064 Total available for sale investment securities $ 626,910 $ 619,966 Held to maturity investments securities Beyond ten years $ 267 $ 267 MBS 11,593 11,358 Total held to maturity investment securities $ 11,860 $ 11,625

LOANS (Tables)

LOANS (Tables)	12 Months Ended
LOANS (Tables)	Dec. 31, 2018
Receivables [Abstract]
Schedule of Loans Receivable	Loans consist of the following: (Dollars in thousands) December 31, December 31, Permanent mortgages on: Multifamily residential $ 3,650,967 $ 2,887,438 Single family residential 2,231,802 1,957,546 Commercial real estate 183,559 112,492 Construction and land loans 12,656 41,165 Non-Mortgage (‘‘NM’’) loans 100 50 Total 6,079,084 4,998,691 Deferred loan costs, net 51,546 42,856 Allowance for loan losses (34,314 ) (30,312 ) Loans held for investment, net $ 6,096,316 $ 5,011,235
Schedule of Allowance for Loan Losses	The following tables summarize activity in and the allocation of the allowance for loan losses by portfolio segment and by impairment methodology: (Dollars in thousands) Multifamily Residential Single Family Residential Commercial Real Estate Land, Construction and NM Total For the Year Ended December 31, 2018: Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 Provision for (reversal of) loan losses 2,738 1,069 617 (824 ) 3,600 Charge-offs — — — — — Recoveries — 12 90 300 402 Ending balance allocated to portfolio segments $ 21,326 $ 10,125 $ 2,441 $ 422 $ 34,314 Ending allowance balance allocated to: Loans individually evaluated for impairment $ — $ 25 $ — $ — $ 25 Loans collectively evaluated for impairment 21,326 10,100 2,441 422 34,289 Ending balance $ 21,326 $ 10,125 $ 2,441 $ 422 $ 34,314 Loans: Ending balance: individually evaluated for impairment $ 566 $ 6,008 $ — $ — $ 6,574 Ending balance: collectively evaluated for impairment 3,650,401 2,225,794 183,559 12,756 6,072,510 Ending balance $ 3,650,967 $ 2,231,802 $ 183,559 $ 12,756 $ 6,079,084 For the Year Ended December 31, 2017: Allowance for loan losses: Beginning balance allocated to portfolio segments $ 18,478 $ 11,559 $ 1,823 $ 1,438 $ 33,298 Provision for (reversal of) loan losses 110 (2,522 ) (89 ) (871 ) (3,372 ) Charge-offs — (5 ) — — (5 ) Recoveries — 12 — 379 391 Ending balance allocated to portfolio segments $ 18,588 $ 9,044 $ 1,734 $ 946 $ 30,312 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 December 31, 2018 and 2017 : (Dollars in thousands) Multifamily Residential Single Family Residential Commercial Real Estate Land, Construction and NM Total As of December 31, 2018: Grade: Pass $ 3,581,468 $ 2,205,528 $ 180,190 $ 10,232 $ 5,977,418 Watch 64,958 20,288 1,887 — 87,133 Special mention 2,607 369 1,482 2,524 6,982 Substandard 1,934 5,617 — — 7,551 Total $ 3,650,967 $ 2,231,802 $ 183,559 $ 12,756 $ 6,079,084 As of December 31, 2017: 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 December 31, 2018 and 2017 : (Dollars in thousands) 30 Days 60 Days 90+ Days Non-accrual Current Total As of December 31, 2018: Loans: Multifamily residential $ — $ — $ — $ 566 $ 3,650,401 $ 3,650,967 Single family residential 357 2,205 — 1,598 2,227,642 2,231,802 Commercial real estate — — — — 183,559 183,559 Land, construction and NM — — — — 12,756 12,756 Total $ 357 $ 2,205 $ — $ 2,164 $ 6,074,358 $ 6,079,084 As of December 31, 2017: 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, construction and NM — — — — 41,215 41,215 Total $ 7,621 $ 3,364 $ — $ 7,037 $ 4,980,669 $ 4,998,691
Schedule of Impaired Loans Receivables	The following tables summarize information related to impaired loans: (Dollars in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Cash Basis Interest As of December 31, 2018 With no related allowance recorded: Multifamily residential $ 566 $ 635 $ — $ 1,300 $ — $ — Single family residential 5,075 5,333 — 6,932 151 — Commercial real estate — — — 284 — — Land, construction and NM — — — — — — 5,641 5,968 — 8,516 151 — With an allowance recorded: Multifamily residential — — — — — — Single family residential 933 933 25 1,181 45 — Commercial real estate — — — — — — Land, construction and NM — — — — — — 933 933 25 1,181 45 — Total: Multifamily residential 566 635 — 1,300 — — Single family residential 6,008 6,266 25 8,113 196 — Commercial real estate — — — 284 — — Land, construction and NM — — — — — — $ 6,574 $ 6,901 $ 25 $ 9,697 $ 196 $ — As of December 31, 2017 With no related allowance recorded: Multifamily residential $ 2,246 $ 2,545 $ — $ 2,075 $ — $ — Single family residential 8,029 8,237 — 7,114 168 — Commercial real estate 656 798 — 728 — — Land, construction and NM — — — — — — 10,931 11,580 — 9,917 168 — With an allowance recorded: Multifamily residential — — — — — — Single family residential 962 962 25 979 34 — Commercial real estate — — — — — — Land, construction and NM — — — — — — 962 962 25 979 34 — Total: Multifamily residential 2,246 2,545 — 2,075 — — Single family residential 8,991 9,199 25 8,093 202 — Commercial real estate 656 798 — 728 — — Land, construction and NM — — — — — — $ 11,893 $ 12,542 $ 25 $ 10,896 $ 202 $ —
Schedule of Troubled Debt Restructurings	The following table summarizes the recorded investment related to troubled debt restructurings at December 31, 2018 and 2017 : December 31, (Dollars in thousands) 2018 2017 Troubled debt restructurings: Multifamily residential $ — $ 667 Single family residential 4,410 5,653 Total recorded investment in troubled debt restructurings $ 4,410 $ 6,320

NONPERFORMING ASSETS (Tables)

NONPERFORMING ASSETS (Tables)	12 Months Ended
NONPERFORMING ASSETS (Tables)	Dec. 31, 2018
Receivables [Abstract]
Schedule of Nonperforming Assets	The Company’s nonperforming assets at December 31, 2018 and 2017 are indicated below: December 31, (Dollars in thousands) 2018 2017 Non-accrual loans: Multifamily residential $ 566 $ 2,246 Single family residential 1,598 4,135 Commercial real estate — 656 Total non-accrual loans 2,164 7,037 Real estate owned — — Total nonperforming assets $ 2,164 $ 7,037 Contractual interest not accrued during the year $ 230 $ 273

MORTGAGE SERVICING RIGHTS (Tabl

MORTGAGE SERVICING RIGHTS (Tables)	12 Months Ended
MORTGAGE SERVICING RIGHTS (Tables)	Dec. 31, 2018
Transfers and Servicing [Abstract]
Schedule of Mortgage Loans Serviced for Others	The principal balances of these loans are as follows: December 31, (Dollars in thousands) 2018 2017 Mortgage loans serviced for: Federal Home Loan Mortgage Corporation ("Freddie Mac") $ 497,950 $ 625,545 Other financial institutions 139,558 158,136 Total mortgage loans serviced for others $ 637,508 $ 783,681
Schedule of Changes in Servicing Assets	Activity for mortgage servicing rights are as follows: Years Ended December 31, (Dollars in thousands) 2018 2017 Beginning balance $ 4,255 $ 1,099 Additions 139 3,126 Disposals — — Change in fair value due to changes in assumptions — — Other changes in fair value (931 ) 30 Ending balance $ 3,463 $ 4,255

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
PREMISES AND EQUIPMENT (Tables)	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	The Company’s policy is to depreciate buildings, furniture and equipment on the straight-line basis over the estimated useful lives of the various assets and to amortize leasehold improvements over the shorter of the asset life or lease term as follows: Leasehold improvements Lesser of term of lease or life of improvement Furniture and equipment 2 to 7 years Building 39 years Premises and equipment consist of the following: December 31, (Dollars in thousands) 2018 2017 Leasehold improvements $ 16,404 $ 15,997 Furniture and equipment 11,318 10,866 Building 6,174 6,160 Land 2,429 2,429 Total 36,325 35,452 Less: accumulated depreciation (15,344 ) (13,000 ) Premises and equipment, net $ 20,981 $ 22,452

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
DEPOSITS (Tables)	Dec. 31, 2018
Banking and Thrift [Abstract]
Schedule of Deposits	A summary of deposits at December 31, 2018 and 2017 is as follows: December 31, (Dollars in thousands) 2018 2017 Certificates of deposit $ 3,297,433 $ 2,242,682 Money market savings 1,335,246 1,389,425 Interest bearing demand 179,272 203,159 Money market checking 123,119 85,073 Non-interest bearing demand 65,970 30,899 Total $ 5,001,040 $ 3,951,238
Schedule of Certificate Account Maturities	Maturities of the Company’s certificates of deposits at December 31, 2018 are summarized as follows (dollars in thousands): Year Ending December 31, 2019 $ 2,050,901 2020 967,920 2021 252,255 2022 21,106 2023 5,251 $ 3,297,433

FEDERAL HOME LOAN BANK AND FE_2

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES (Tables)	12 Months Ended
	Dec. 31, 2018
Banking and Thrift [Abstract]
Schedule of FHLB Advances	The following table discloses the Bank’s outstanding advances from the FHLB: As of December 31, 2018 Outstanding Balances Minimum Interest Rate Maximum Interest Rate Weighted Average Rate (Dollars in thousands) December 31, December 31, Maturity Dates Fixed rate short-term $ 166,000 $ 411,600 2.56 % 2.58 % 2.57 % January to February 2019 Fixed rate long-term 877,132 427,660 1.13 % 7.69 % 2.33 % June 2019 to August 2032 Variable rate long-term 100,000 150,000 2.32 % 2.58 % 2.45 % April 2019 to January 2020 $ 1,143,132 $ 989,260 The following table summarizes principal payments required over the next five years as of December 31, 2018 (dollars in thousands): Year Ending December 31, 2019 $ 441,000 2020 150,000 2021 150,600 2022 — 2023 400,750 Thereafter 782 Total $ 1,143,132

JUNIOR SUBORDINATED DEFERRABL_2

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES (Tables)	12 Months Ended
JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES (Tables)	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Outstanding Trust Securities	The following table is a summary of the outstanding Trust Securities and Notes at December 31, 2018 and 2017 (dollars in thousands): December 31, 2018 December 31, 2017 Date Maturity Rate Index Issuer Amount Rate Amount Rate Issued Date (Quarterly Reset) Luther Burbank Statutory Trust I $ 41,238 4.17 % $ 41,238 2.97 % 3/1/2006 6/15/2036 3 month LIBOR + 1.38% Luther Burbank Statutory Trust II $ 20,619 4.41 % $ 20,619 3.21 % 3/1/2007 6/15/2037 3 month LIBOR + 1.62%

SENIOR DEBT (Tables)

SENIOR DEBT (Tables)	12 Months Ended
SENIOR DEBT (Tables)	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes information on these notes as of December 31, 2018 and 2017 : December 31, 2018 December 31, 2017 (Dollars in thousands) Principal Unamortized Debt Issuance Costs Principal Unamortized Debt Issuance Costs Maturity Date Fixed Interest Rate Senior Unsecured Term Notes $ 95,000 $ 707 $ 95,000 $ 839 9/30/2024 6.50 %

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Provision/(Benefit) for Income Taxes	The provision/(benefit) for income taxes for the years ended December 31, 2018 and 2017 consists of the following: Years Ended December 31, (Dollars in thousands) 2018 2017 Federal: Current $ 13,345 $ 142 Deferred (1,666 ) (4,451 ) Total federal tax provision (benefit) 11,679 (4,309 ) State: Current 6,394 2,289 Deferred (202 ) (2,133 ) Total state tax provision 6,192 156 Total income tax provision (benefit) $ 17,871 $ (4,153 )
Schedule of Effective Income Tax Rate Reconciliation	The provision/(benefit) for income taxes for the years ended December 31, 2018 and 2017 differs from the statutory federal rate of 21% and 35%, respectively, due to the following: Years Ended December 31, (Dollars in thousands) 2018 2017 Statutory U.S. federal income tax $ 13,216 $ 22,831 Increase (decrease) resulting from: State taxes, net of federal benefit 4,749 156 Benefit of S-Corporation status — (21,146 ) Conversion as of December 1, 2017 to C-Corporation — (7,142 ) Tax reform rate change — 2,968 Deductible costs related to the issuance of common stock — (2,133 ) Other (94 ) 313 Provision (benefit) for income taxes $ 17,871 $ (4,153 )
Schedule of Deferred Tax Assets (Liabilities)	Deferred tax assets (liabilities) included in other assets in the accompanying consolidated statements of financial condition consist of the following: December 31, (Dollars in thousands) 2018 2017 Deferred tax assets: Allowance for loan losses $ 10,387 $ 9,360 Deferred compensation 9,219 8,490 Unrealized loss on securities 2,052 2,139 Net operating loss — 713 State tax deduction 1,371 — Other 817 899 Total deferred tax assets 23,846 21,601 Deferred tax liabilities: Loan fee income (10,643 ) (8,960 ) Federal Home Loan Bank stock dividend income deferred for tax purposes (1,463 ) (1,998 ) Section 481(a) adjustment related to conversion from cash basis to accrual basis taxpayer in December 2017 (1,201 ) (1,757 ) Federal depreciation (789 ) (920 ) Other (491 ) (474 ) Total deferred tax liabilities (14,587 ) (14,109 ) Net deferred tax assets $ 9,259 $ 7,492

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
REGULATORY MATTERS (Tables)	Dec. 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 ratios are presented as follows: Minimum Required Actual For Capital Adequacy Purposes Plus Capital Conservation Buffer For Well- Capitalized Institution (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio Amount Ratio Luther Burbank Corporation As of December 31, 2018 Tier 1 Leverage Ratio $ 644,344 9.42 % $ 273,544 4.00 % N/A N/A N/A N/A Common Equity Tier 1 Risk-Based Ratio 582,487 14.74 % 177,873 4.50 % $ 251,986 6.38 % N/A N/A Tier 1 Risk-Based Capital Ratio 644,344 16.30 % 237,164 6.00 % 311,277 7.88 % N/A N/A Total Risk-Based Capital Ratio 679,841 17.20 % 316,218 8.00 % 390,332 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 Luther Burbank Savings As of December 31, 2018 Tier 1 Leverage Ratio $ 728,414 10.65 % $ 273,469 4.00 % N/A N/A $ 341,836 5.00 % Common Equity Tier 1 Risk-Based Ratio 728,414 18.43 % 177,820 4.50 % $ 251,912 6.38 % 256,851 6.50 % Tier 1 Risk-Based Capital Ratio 728,414 18.43 % 237,094 6.00 % 311,185 7.88 % 316,125 8.00 % Total Risk-Based Capital Ratio 763,911 19.33 % 316,125 8.00 % 390,217 9.88 % 395,156 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)	12 Months Ended
DERIVATIVES (Tables)	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	Summary information about the interest rate cap(s) designated as cash flow hedges at December 31, 2018 or 2017 is as follows: December 31, (Dollars in thousands) 2018 2017 Notional amounts $ 50,000 $ 100,000 Weighted average rate on FHLB advances 2.58 % 1.42 % Weighted average cap rate 2.80 % 2.55 % Weighted average original maturity 5.0 years 4.0 years Weighted average remaining maturity 0.3 years 0.9 years Unrealized losses $ (147 ) $ (796 )

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
EMPLOYEE BENEFIT PLANS (Tables)	Dec. 31, 2018
Compensation Related Costs [Abstract]
Schedule of Phantom Stock Award Activity and the Balance of Share Equivalents Outstanding	The following table shows phantom stock award activity and the balance of share equivalents outstanding as of the periods indicated: Years Ended December 31, 2018 2017 Beginning balance – awards outstanding 237,400 1,274,600 Share equivalents granted — 50,000 Share equivalents exercised (22,038 ) (226,900 ) Share equivalents forfeited — (210,900 ) Share equivalents converted to restricted stock units — (649,400 ) Ending balance – awards outstanding 215,362 237,400

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	12 Months Ended
STOCK BASED COMPENSATION (Tables)	Dec. 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: Years Ended December 31, 2018 2017 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Beginning of the period balance 1,319,700 $ 10.75 — $ — Phantom stock converted to restricted stock units — — 649,400 10.75 Shares granted 131,140 12.77 670,300 10.75 Shares settled (272,080 ) 10.75 — — Shares forfeited (23,401 ) 10.75 — — End of the period balance 1,155,359 $ 10.97 1,319,700 $ 10.75

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 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: Fair Level Measurements Using (Dollars in thousands) Carrying Amount Fair Value Level 1 Level 2 Level 3 As of December 31, 2018: Financial assets: Cash and cash equivalents $ 91,697 $ 91,697 $ 91,697 $ — $ — Investment securities: Available for sale 619,966 619,966 976 618,990 — Held to maturity 11,860 11,625 — 11,625 — Loans receivable, net 6,096,316 6,092,885 — — 6,092,885 Accrued interest receivable 20,220 20,220 62 1,739 18,419 Federal Home Loan Bank stock 31,823 N/A N/A N/A N/A Financial liabilities: Deposits $ 5,001,040 $ 4,957,054 $ 1,703,607 $ 3,253,447 $ — FHLB advances 1,143,132 1,144,326 — 1,144,326 — Junior subordinated deferrable interest debentures 61,857 56,596 — 56,596 — Senior debt 94,293 99,673 — 99,673 — Accrued interest payable 4,307 4,307 — 4,307 — As of December 31, 2017: Financial assets: Cash and cash equivalents $ 75,578 $ 75,578 $ 75,578 $ — $ — Investment securities: Available for sale 503,288 503,288 984 502,304 — 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: 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 (dollars in thousands): Description Fair Value Level 1 Level 2 Level 3 As of December 31, 2018: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 192,113 $ — $ 192,113 $ — Commercial MBS and CMOs 292,951 — 292,951 — Agency bonds 122,488 — 122,488 — U.S. Treasury 976 976 — — CRA Qualified Investment Fund 11,438 — 11,438 — Total investment securities available for sale $ 619,966 976 $ 618,990 — Mortgage servicing rights $ 3,463 $ — $ — $ 3,463 As of December 31, 2017: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 243,372 $ — $ 243,372 $ — Commercial MBS and CMOs 130,017 — 130,017 — Agency bonds 117,222 — 117,222 — U.S. Treasury 984 984 — — CRA Qualified Investment Fund 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ 984 $ 502,304 $ — Mortgage servicing rights $ 4,078 $ — $ — $ 4,078 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 (dollars in thousands): Description Fair Value Level 1 Level 2 Level 3 As of December 31, 2018: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 192,113 $ — $ 192,113 $ — Commercial MBS and CMOs 292,951 — 292,951 — Agency bonds 122,488 — 122,488 — U.S. Treasury 976 976 — — CRA Qualified Investment Fund 11,438 — 11,438 — Total investment securities available for sale $ 619,966 976 $ 618,990 — Mortgage servicing rights $ 3,463 $ — $ — $ 3,463 As of December 31, 2017: Financial Assets: Available for sale investment securities: Government and Government Sponsored Entities: Residential MBS and CMOs $ 243,372 $ — $ 243,372 $ — Commercial MBS and CMOs 130,017 — 130,017 — Agency bonds 117,222 — 117,222 — U.S. Treasury 984 984 — — CRA Qualified Investment Fund 11,693 — 11,693 — Total investment securities available for sale $ 503,288 $ 984 $ 502,304 $ — Mortgage servicing rights $ 4,078 $ — $ — $ 4,078 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): Description Fair Value Level 1 Level 2 Level 3 As of December 31, 2017: Impaired loans: Single family residential $ 191 $ — $ — $ 191

LOAN SALE AND SECURITIZATION _2

LOAN SALE AND SECURITIZATION ACTIVITIES (Tables)	12 Months Ended
LOAN SALE AND SECURITIZATION ACTIVITIES (Tables)	Dec. 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: Years Ended December 31, (Dollars in thousands) 2018 2017 Proceeds from loan sales $ 19,604 $ 689,372 Servicing fees 1,536 675
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 the consolidated statements 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 As of December 31, 2018: Principal balance of loans $ 26,200 $ 611,308 Loans 90+ days past due — — Charge-offs, net — — As of 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)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Operating Lease Maturities	At December 31, 2018 , minimum commitments under these non-cancellable leases before considering renewal options are as follows (dollars in thousands): Years ending December 31, 2019 $ 5,246 2020 3,851 2021 3,380 2022 2,419 2023 1,255 Thereafter 1,764 Total $ 17,915

UNAUDITED QUARTERLY FINANCIAL_2

UNAUDITED QUARTERLY FINANCIAL INFORMATION (Tables)	12 Months Ended
UNAUDITED QUARTERLY FINANCIAL INFORMATION (Tables)	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	The following tables summarize the unaudited condensed consolidated results of operations for each of the quarters during the fiscal years ended December 31, 2018 and 2017 : (Dollars in thousands, except per share data) For the Three Months Ended March 31 June 30 September 30 December 31 2018 Net interest income $ 30,465 $ 31,159 $ 31,712 $ 31,751 Provision for loan losses 1,500 1,300 650 150 Net interest income after provision for loan losses 28,965 29,859 31,062 31,601 Noninterest income 1,025 817 1,043 1,246 Noninterest expense 14,713 14,922 15,090 17,962 Income before income taxes 15,277 15,754 17,015 14,885 Income tax expense 4,175 4,528 4,886 4,282 Net income $ 11,102 $ 11,226 $ 12,129 $ 10,603 EPS (1): Basic $ 0.20 $ 0.20 $ 0.22 $ 0.19 Diluted $ 0.20 $ 0.20 $ 0.21 $ 0.19 2017 Net interest income $ 26,850 $ 27,733 $ 28,760 $ 27,554 Provision for (reversal of) loan losses 309 (6,481 ) 1,550 1,250 Net interest income after provision for (reversal of) loan losses 26,541 34,214 27,210 26,304 Noninterest income 882 201 4,931 1,494 Noninterest expense 14,703 14,840 13,782 13,221 Income before income taxes 12,720 19,575 18,359 14,577 Income tax expense (benefit) 425 654 612 (5,844 ) Net income $ 12,295 $ 18,921 $ 17,747 $ 20,421 EPS (1): Basic $ 0.29 $ 0.45 $ 0.42 $ 0.45 Diluted $ 0.29 $ 0.45 $ 0.42 $ 0.45 (1) The quarterly EPS amounts, when added, may not coincide with the full fiscal year EPS reported on the Consolidated Statements of Income due to differences in the computed weighted average shares outstanding as well as rounding differences.

PARENT COMPANY ONLY FINANCIAL_2

PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)	12 Months Ended
PARENT COMPANY ONLY FINANCIAL INFORMATION (Tables)	Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]
Condensed Statements of Financial Condition	Summary parent company only financial information for the years ended December 31, 2018 and 2017 is as follows (dollars in thousands): CONDENSED STATEMENTS OF FINANCIAL CONDITION December 31, 2018 2017 ASSETS Cash and cash equivalents $ 9,224 $ 11,612 Investment in Bank 727,073 682,026 Investment in Burbank Financial, Inc. 249 230 Investment in Luther Burbank Statutory Trusts 1 & 2 1,857 1,857 Receivable from Bank 21 6,990 Other assets 6 3,195 Total assets $ 738,430 $ 705,910 LIABILITIES AND STOCKHOLDERS' EQUITY Junior subordinated deferrable interest debentures $ 61,857 $ 61,857 Other borrowings 94,293 94,161 Interest payable on junior subordinated deferrable interest debentures 109 89 Other liabilities and accrued expenses 1,026 58 Stockholders' equity 581,145 549,745 Total liabilities and stockholders' equity $ 738,430 $ 705,910
Condensed Statements of Income	CONDENSED STATEMENTS OF INCOME AND COMPREHESIVE INCOME Years Ended December 31, 2018 2017 Net interest expense $ (8,505 ) $ (7,924 ) Dividend income from Bank 6,800 35,600 Other operating expense (451 ) (110 ) Income before income tax benefit and undistributed net income of subsidiaries (2,156 ) 27,566 Income tax benefit 2,362 3,392 Income before undistributed net income of subsidiaries 206 30,958 Equity in undistributed net income of subsidiaries 44,854 38,426 Net income (1) $ 45,060 $ 69,384 Comprehensive income $ 45,060 $ 69,384 (1) The group files a single tax return and the subsidiaries are treated, for federal and California tax purposes, as divisions of a single corporation. The Company’s share of income tax expense is based on the amount which would be payable if separate returns were filed. Accordingly, the Company’s equity in the net income of its subsidiaries, including the Bank, are excluded from the computation of the provision for income taxes for financial statement purposes. Prior to December 1, 2017, the Company had made an S-Corporation election. As a result of the S-Corporation election, there was minimal federal tax at the Corporation level. The Company did provide tax at the rate of 3.5% to reflect the rate charged by California against the income of S-Corporations. On December 1, 2017 the Company terminated its S-Corporation election and was subsequently subject to tax as a C-Corporation. From December 1, 2017 through December 31, 2017, the Company did provide tax at the rate of 35.0% and 10.84% to reflect the rates charged for federal and California taxes, respectively, against the income of a C-Corporation. For the year ended December 31, 2018 , the Company provided tax at the rates of 21% and 10.84% for federal and California taxes, respectively.
Condensed Statements of Comprehensive Income	CONDENSED STATEMENTS OF INCOME AND COMPREHESIVE INCOME Years Ended December 31, 2018 2017 Net interest expense $ (8,505 ) $ (7,924 ) Dividend income from Bank 6,800 35,600 Other operating expense (451 ) (110 ) Income before income tax benefit and undistributed net income of subsidiaries (2,156 ) 27,566 Income tax benefit 2,362 3,392 Income before undistributed net income of subsidiaries 206 30,958 Equity in undistributed net income of subsidiaries 44,854 38,426 Net income (1) $ 45,060 $ 69,384 Comprehensive income $ 45,060 $ 69,384 (1) The group files a single tax return and the subsidiaries are treated, for federal and California tax purposes, as divisions of a single corporation. The Company’s share of income tax expense is based on the amount which would be payable if separate returns were filed. Accordingly, the Company’s equity in the net income of its subsidiaries, including the Bank, are excluded from the computation of the provision for income taxes for financial statement purposes. Prior to December 1, 2017, the Company had made an S-Corporation election. As a result of the S-Corporation election, there was minimal federal tax at the Corporation level. The Company did provide tax at the rate of 3.5% to reflect the rate charged by California against the income of S-Corporations. On December 1, 2017 the Company terminated its S-Corporation election and was subsequently subject to tax as a C-Corporation. From December 1, 2017 through December 31, 2017, the Company did provide tax at the rate of 35.0% and 10.84% to reflect the rates charged for federal and California taxes, respectively, against the income of a C-Corporation. For the year ended December 31, 2018 , the Company provided tax at the rates of 21% and 10.84% for federal and California taxes, respectively.
Condensed Statements of Cash Flows	CONDENSED STATEMENTS OF CASH FLOWS Years Ended December 31, 2018 2017 Cash flows from operating activities: Net income $ 45,060 $ 69,384 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (44,854 ) (38,426 ) Change in receivable from Bank 6,969 (6,990 ) Stock based compensation 4,355 6,965 Net change in other assets and liabilities 4,309 (2,922 ) Net cash provided by operating activities 15,839 28,011 Cash flows from investing activities: Capital contribution to Bank — (98,000 ) Net cash used by investing activities — (98,000 ) Cash flows from financing activities: Cash paid for dividends (15,963 ) (67,800 ) Shares withheld for taxes on vested restricted stock (769 ) — Shares repurchased (1,495 ) — Proceeds from issuance of common stock — 138,287 Net cash (used in) provided by financing activities (18,227 ) 70,487 (Decrease) increase in cash and cash equivalents (2,388 ) 498 Cash and cash equivalents, beginning of year 11,612 11,114 Cash and cash equivalents, end of year $ 9,224 $ 11,612

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 12, 2017USD ($)$ / sharesshares	Apr. 27, 2017$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2018USD ($)segmentsubsidiarybranchoffice$ / sharesshares	Dec. 31, 2017USD ($)shares	Mar. 31, 2018USD ($)	Apr. 26, 2017$ / sharesshares
Class of Stock [Line Items]
Number of unconsolidated subsidiaries \| subsidiary				2
Transfers from held for sale to held for investment, amount			$ 38,300,000
Fair value loss on transfer of loans from held for sale to held for investment			$ 289,000	$ (140,000)	$ (3,277,000)
Federal Home Loan Bank stock (in shares) \| shares			277,328	318,231	277,328
Federal Home Loan Bank stock, par value (in dollars per share) \| $ / shares				$ 100
Goodwill impairment loss				$ 0
Income tax examination, penalties and interest expense				$ 0	$ 0
Award vesting period				3 years
Stock split shares issued per previous share		200
Common stock shares issued (in shares) \| shares		42,000,000	56,422,662	56,379,066	56,422,662		210,000
Common stock shares authorized (in shares) \| shares		100,000,000	100,000,000	100,000,000	100,000,000		500,000
Par value (in usd per share) \| $ / shares		$ 0					$ 8
Deposits due to related parties			$ 12,600,000	$ 17,000,000	$ 12,600,000
Loans receivable, related parties			0	$ 0	0
Number of reportable segments \| segment				1
Accounting Standards Update 2018-02 \| Accumulated Other Comprehensive (Loss) Income (Net of Taxes)
Class of Stock [Line Items]
Cumulative effect of new accounting principle in period of adoption						$ (1,800,000)
Accounting Standards Update 2018-02 \| Retained Earnings
Class of Stock [Line Items]
Cumulative effect of new accounting principle in period of adoption						$ 1,800,000
Building
Class of Stock [Line Items]
Property, plant and equipment, useful life				39 years
Minimum
Class of Stock [Line Items]
Allowance for loan losses, reserve factors, average historical loss experience, term				9 years
Minimum \| Furniture and equipment
Class of Stock [Line Items]
Property, plant and equipment, useful life				2 years
Maximum
Class of Stock [Line Items]
Allowance for loan losses, reserve factors, average historical loss experience, term				10 years
Maximum \| Furniture and equipment
Class of Stock [Line Items]
Property, plant and equipment, useful life				7 years
Demand Deposits
Class of Stock [Line Items]
Restricted cash			$ 16,000,000	$ 18,600,000	$ 16,000,000
IPO
Class of Stock [Line Items]
Shares issued (in shares) \| shares	13,972,500
Price per share of shares issued (in dollars per share) \| $ / shares	$ 10.75
Proceeds from shares issued	$ 138,300,000
Sonoma, Marin, Santa Clara, and Los Angeles Counties
Class of Stock [Line Items]
Number of full service branches \| branch				9
King County, Washington
Class of Stock [Line Items]
Number of full service branches \| branch				1
California
Class of Stock [Line Items]
Number of loan production offices \| office				7
Clackamas County, Oregon
Class of Stock [Line Items]
Number of loan production offices \| office				1

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Net income	$ 10,603	$ 12,129	$ 11,226	$ 11,102	$ 20,421	$ 17,747	$ 18,921	$ 12,295	$ 45,060	$ 69,384
Weighted average basic common shares outstanding (in shares)									56,196,648	42,916,879
Add: Dilutive effects of assumed vesting of restricted stock (in shares)									628,754	41,057
Weighted average diluted common shares outstanding (in shares)									56,825,402	42,957,936
Basic earnings per common share (in dollars per share)	$ 0.19	$ 0.22	$ 0.20	$ 0.20	$ 0.45	$ 0.42	$ 0.45	$ 0.29	$ 0.80	$ 1.62
Diluted earnings per common share (in dollars per share)	$ 0.19	$ 0.21	$ 0.20	$ 0.20	$ 0.45	$ 0.42	$ 0.45	$ 0.29	$ 0.79	$ 1.62
Anti-dilutive shares not included in calculation of diluted earnings per share (in shares)									0	0

INVESTMENT SECURITIES - Availab

INVESTMENT SECURITIES - Available-for-sale Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 626,910	$ 509,896
Gross Unrealized Gains	1,325	391
Gross Unrealized Losses	(8,269)	(6,999)
Available for sale investment securities, at fair value	619,966	503,288
Fair Value
Less than 12 Months	95,359	110,161
12 Months or More	343,651	307,714
Total	439,010	417,875
Unrealized Losses
Less than 12 Months	(754)	(1,006)
12 Months or More	(7,515)	(5,993)
Total	(8,269)	(6,999)
Residential MBS and CMOs
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	194,297	245,062
Gross Unrealized Gains	339	361
Gross Unrealized Losses	(2,523)	(2,051)
Available for sale investment securities, at fair value	192,113	243,372
Fair Value
Less than 12 Months	31,728	60,760
12 Months or More	102,503	100,230
Total	134,231	160,990
Unrealized Losses
Less than 12 Months	(304)	(463)
12 Months or More	(2,219)	(1,588)
Total	(2,523)	(2,051)
Commercial MBS and CMOs
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	294,276	131,419
Gross Unrealized Gains	979	0
Gross Unrealized Losses	(2,304)	(1,402)
Available for sale investment securities, at fair value	292,951	130,017
Fair Value
Less than 12 Months	58,725	34,602
12 Months or More	114,159	95,415
Total	172,884	130,017
Unrealized Losses
Less than 12 Months	(432)	(343)
12 Months or More	(1,872)	(1,059)
Total	(2,304)	(1,402)
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	125,329	120,405
Gross Unrealized Gains	7	30
Gross Unrealized Losses	(2,848)	(3,213)
Available for sale investment securities, at fair value	122,488	117,222
Fair Value
Less than 12 Months	4,906	9,851
12 Months or More	114,575	104,340
Total	119,481	114,191
Unrealized Losses
Less than 12 Months	(18)	(148)
12 Months or More	(2,830)	(3,065)
Total	(2,848)	(3,213)
U.S. Treasury
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,008	1,010
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(32)	(26)
Available for sale investment securities, at fair value	976	984
Fair Value
Less than 12 Months	0	0
12 Months or More	976	984
Total	976	984
Unrealized Losses
Less than 12 Months	0	0
12 Months or More	(32)	(26)
Total	(32)	(26)
CRA Qualified Investment Fund
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,000	12,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(562)	(307)
Available for sale investment securities, at fair value	11,438	11,693
Fair Value
Less than 12 Months	0	4,948
12 Months or More	11,438	6,745
Total	11,438	11,693
Unrealized Losses
Less than 12 Months	0	(52)
12 Months or More	(562)	(255)
Total	$ (562)	$ (307)

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) $ in Thousands	Jan. 01, 2018USD ($)	Dec. 31, 2018USD ($)security	Sep. 30, 2018USD ($)security	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)security	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)security	Dec. 31, 2017USD ($)security	Dec. 31, 2016USD ($)
Debt Securities, Available-for-sale [Line Items]
Unrealized loss on available-for-sale investment securities \| $		$ 581,145				$ 549,745				$ 581,145	$ 549,745	$ 404,375
Provision for income taxes \| $		$ 4,282	$ 4,886	$ 4,528	$ 4,175	$ (5,844)	$ 612	$ 654	$ 425	17,871	$ (4,153)
Reclassification of prior year tax benefit related to re-measuring deferred taxes on items recorded to other comprehensive income \| $										$ 0
Residential MBS and CMOs
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, number of positions		82				89				82	89
Debt securities, available-for-sale, unrealized loss position, number of positions		45				56				45	56
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of positions		40				23				40	23
Held-to-maturity securities, number of securities held		7				6				7	6
Held-to-maturity securities, number of securities held in a loss position		6				3				6	3
Held-to-maturity securities, number of securities held in a loss position longer than 12 months			3			2					2
Commercial MBS and CMOs
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, number of positions		34				17				34	17
Debt securities, available-for-sale, unrealized loss position, number of positions		23				17				23	17
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of positions		16				11				16	11
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, number of positions		14				13				14	13
Debt securities, available-for-sale, unrealized loss position, number of positions		13				12				13	12
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of positions		12				11				12	11
CRA Qualified Investment Fund
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, number of positions		3				3				3	3
Debt securities, available-for-sale, unrealized loss position, number of positions						3					3
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of positions		3				2				3	2
U.S. Treasury
Debt Securities, Available-for-sale [Line Items]
Debt securities, available-for-sale, continuous unrealized loss position, 12 months or longer, number of positions		1				1				1	1
Accumulated Other Comprehensive (Loss) Income (Net of Taxes) Available for Sale Securities
Debt Securities, Available-for-sale [Line Items]
Unrealized loss on available-for-sale investment securities \| $		$ (4,935)				$ (6,214)				$ (4,935)	$ (6,214)	$ (4,374)
Unrealized loss on available-for-sale investment securities tax asset \| $		$ 2,000				394				2,000	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)
Debt Securities, Available-for-sale [Line Items]
Unrealized loss on available-for-sale investment securities tax asset \| $						$ 1,900					$ 1,900

INVESTMENT SECURITIES - Held-to

INVESTMENT SECURITIES - Held-to-maturity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 11,860	$ 6,921
Gross Unrecognized Gains	27	73
Gross Unrecognized Losses	(262)	(69)
Estimated Fair Value	11,625	6,925
Residential MBS
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	11,593	6,636
Gross Unrecognized Gains	27	73
Gross Unrecognized Losses	(262)	(69)
Estimated Fair Value	11,358	6,640
Fair Value
Less than 12 Months	6,481	1,047
12 Months or More	3,739	3,029
Total	10,220	4,076
Unrecognized Losses
Less than 12 Months	(111)	(4)
12 Months or More	(151)	(65)
Total	(262)	(69)
Other investments
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	267	285
Gross Unrecognized Gains	0	0
Gross Unrecognized Losses	0	0
Estimated Fair Value	$ 267	$ 285

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Investment Securities Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Amortized Cost
One to five years	$ 118,413
Five to ten years	4,924
Beyond ten years	3,000
Amortized Cost	626,910	$ 509,896
Fair Value
One to five years	115,551
Five to ten years	4,906
Beyond ten years	3,007
Fair Value	619,966	503,288
Amortized Cost
Beyond ten years	267
Amortized Cost	11,860	6,921
Fair Value
Beyond ten years	267
Total held to maturity investment securities	11,625	$ 6,925
Equity securities
Amortized Cost
Equity securities	12,000
Fair Value
Equity securities	11,438
MBS and CMOs
Amortized Cost
Equity securities	488,573
Fair Value
Equity securities	485,064
MBS
Amortized Cost
MBS	11,593
Fair Value
MBS	$ 11,358

LOANS - Loans Receivable (Detai

LOANS - Loans Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	$ 6,079,084	$ 4,998,691
Deferred loan costs, net	51,546	42,856
Allowance for loan losses	(34,314)	(30,312)
Loans held for investment, net	6,096,316	5,011,235
Multifamily residential \| Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	3,650,967	2,887,438
Single family residential \| Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	2,231,802	1,957,546
Commercial real estate \| Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	183,559	112,492
Construction and land loans \| Permanent mortgages
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	12,656	41,165
Non-Mortgage (‘‘NM’’) loans \| Non-Mortgage loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans and Leases Receivable, before Fees, Gross	$ 100	$ 50

LOANS - Allowance for Loan Loss

LOANS - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses:
Beginning balance allocated to portfolio segments				$ 30,312				$ 33,298	$ 30,312	$ 33,298
Provision for (reversal of) loan losses	$ 150	$ 650	$ 1,300	1,500	$ 1,250	$ 1,550	$ (6,481)	309	3,600	(3,372)
Charge-offs									0	(5)
Recoveries									402	391
Ending balance allocated to portfolio segments	34,314				30,312				34,314	30,312
Ending allowance balance allocated to:
Loans individually evaluated for impairment											$ 25	$ 25
Loans collectively evaluated for impairment											34,289	30,287
Ending balance	34,314			30,312	30,312			33,298	30,312	33,298	34,314	30,312
Loans:
Ending balance: individually evaluated for impairment											6,574	11,893
Ending balance: collectively evaluated for impairment											6,072,510	4,986,798
Ending balance											6,079,084	4,998,691
Multifamily residential
Allowance for loan losses:
Beginning balance allocated to portfolio segments				18,588				18,478	18,588	18,478
Provision for (reversal of) loan losses									2,738	110
Charge-offs									0	0
Recoveries									0	0
Ending balance allocated to portfolio segments	21,326				18,588				21,326	18,588
Ending allowance balance allocated to:
Loans individually evaluated for impairment											0	0
Loans collectively evaluated for impairment											21,326	18,588
Ending balance	21,326			18,588	18,588			18,478	18,588	18,478	21,326	18,588
Loans:
Ending balance: individually evaluated for impairment											566	2,246
Ending balance: collectively evaluated for impairment											3,650,401	2,885,192
Ending balance											3,650,967	2,887,438
Single family residential
Allowance for loan losses:
Beginning balance allocated to portfolio segments				9,044				11,559	9,044	11,559
Provision for (reversal of) loan losses									1,069	(2,522)
Charge-offs									0	(5)
Recoveries									12	12
Ending balance allocated to portfolio segments	10,125				9,044				10,125	9,044
Ending allowance balance allocated to:
Loans individually evaluated for impairment											25	25
Loans collectively evaluated for impairment											10,100	9,019
Ending balance	10,125			9,044	9,044			11,559	9,044	11,559	10,125	9,044
Loans:
Ending balance: individually evaluated for impairment											6,008	8,991
Ending balance: collectively evaluated for impairment											2,225,794	1,948,555
Ending balance											2,231,802	1,957,546
Commercial real estate
Allowance for loan losses:
Beginning balance allocated to portfolio segments				1,734				1,823	1,734	1,823
Provision for (reversal of) loan losses									617	(89)
Charge-offs									0	0
Recoveries									90	0
Ending balance allocated to portfolio segments	2,441				1,734				2,441	1,734
Ending allowance balance allocated to:
Loans individually evaluated for impairment											0	0
Loans collectively evaluated for impairment											2,441	1,734
Ending balance	2,441			1,734	1,734			1,823	1,734	1,823	2,441	1,734
Loans:
Ending balance: individually evaluated for impairment											0	656
Ending balance: collectively evaluated for impairment											183,559	111,836
Ending balance											183,559	112,492
Non-Mortgage (‘‘NM’’) loans
Allowance for loan losses:
Beginning balance allocated to portfolio segments				946				1,438	946	1,438
Provision for (reversal of) loan losses									(824)	(871)
Charge-offs									0	0
Recoveries									300	379
Ending balance allocated to portfolio segments	422				946				422	946
Ending allowance balance allocated to:
Loans individually evaluated for impairment											0	0
Loans collectively evaluated for impairment											422	946
Ending balance	$ 422			$ 946	$ 946			$ 1,438	$ 946	$ 1,438	422	946
Loans:
Ending balance: individually evaluated for impairment											0	0
Ending balance: collectively evaluated for impairment											12,756	41,215
Ending balance											$ 12,756	$ 41,215

LOANS - Portfolio Allocated by

LOANS - Portfolio Allocated by Internal Risk Ratings (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment [Line Items]
Total	$ 6,079,084	$ 4,998,691
Pass
Financing Receivable, Recorded Investment [Line Items]
Total	5,977,418	4,919,434
Watch
Financing Receivable, Recorded Investment [Line Items]
Total	87,133	49,847
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	6,982	15,594
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	7,551	13,816
Multifamily residential
Financing Receivable, Recorded Investment [Line Items]
Total	3,650,967	2,887,438
Multifamily residential \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total	3,581,468	2,847,720
Multifamily residential \| Watch
Financing Receivable, Recorded Investment [Line Items]
Total	64,958	25,354
Multifamily residential \| Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	2,607	6,569
Multifamily residential \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	1,934	7,795
Single family residential
Financing Receivable, Recorded Investment [Line Items]
Total	2,231,802	1,957,546
Single family residential \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total	2,205,528	1,923,960
Single family residential \| Watch
Financing Receivable, Recorded Investment [Line Items]
Total	20,288	20,178
Single family residential \| Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	369	9,025
Single family residential \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	5,617	4,383
Commercial real estate
Financing Receivable, Recorded Investment [Line Items]
Total	183,559	112,492
Commercial real estate \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total	180,190	106,539
Commercial real estate \| Watch
Financing Receivable, Recorded Investment [Line Items]
Total	1,887	4,315
Commercial real estate \| Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	1,482	0
Commercial real estate \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	0	1,638
Non-Mortgage (‘‘NM’’) loans
Financing Receivable, Recorded Investment [Line Items]
Total	12,756	41,215
Non-Mortgage (‘‘NM’’) loans \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total	10,232	41,215
Non-Mortgage (‘‘NM’’) loans \| Watch
Financing Receivable, Recorded Investment [Line Items]
Total	0	0
Non-Mortgage (‘‘NM’’) loans \| Special mention
Financing Receivable, Recorded Investment [Line Items]
Total	2,524	0
Non-Mortgage (‘‘NM’’) loans \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 0	$ 0

LOANS - Aging Analysis (Details

LOANS - Aging Analysis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	$ 2,164	$ 7,037
Current	6,074,358	4,980,669
Total	6,079,084	4,998,691
30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	357	7,621
60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,205	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	566	2,246
Current	3,650,401	2,882,441
Total	3,650,967	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	1,598	4,135
Current	2,227,642	1,945,177
Total	2,231,802	1,957,546
Single family residential \| 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	357	4,870
Single family residential \| 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	2,205	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	183,559	111,836
Total	183,559	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	0	0
Commercial real estate \| 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Non-Mortgage (‘‘NM’’) loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-accrual	0	0
Current	12,756	41,215
Total	12,756	41,215
Non-Mortgage (‘‘NM’’) loans \| 30 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Non-Mortgage (‘‘NM’’) loans \| 60 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	0	0
Non-Mortgage (‘‘NM’’) loans \| 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Past due	$ 0	$ 0

LOANS - Impaired Loans (Details

LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Recorded Investment
With no related allowance recorded	$ 5,641	$ 10,931
With an allowance recorded	933	962
Total	6,574	11,893
Unpaid Principal Balance
With no related allowance recorded	5,968	11,580
With an allowance recorded	933	962
Total	6,901	12,542
Related Allowance	25	25
Average Recorded Investment
With no related allowance recorded	8,516	9,917
With an allowance recorded	1,181	979
Total	9,697	10,896
Interest Income
With no related allowance recorded	151	168
With an allowance recorded	45	34
Total	196	202
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	566	2,246
With an allowance recorded	0	0
Total	566	2,246
Unpaid Principal Balance
With no related allowance recorded	635	2,545
With an allowance recorded	0	0
Total	635	2,545
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded	1,300	2,075
With an allowance recorded	0	0
Total	1,300	2,075
Interest Income
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Cash Basis Interest
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Single family residential
Recorded Investment
With no related allowance recorded	5,075	8,029
With an allowance recorded	933	962
Total	6,008	8,991
Unpaid Principal Balance
With no related allowance recorded	5,333	8,237
With an allowance recorded	933	962
Total	6,266	9,199
Related Allowance	25	25
Average Recorded Investment
With no related allowance recorded	6,932	7,114
With an allowance recorded	1,181	979
Total	8,113	8,093
Interest Income
With no related allowance recorded	151	168
With an allowance recorded	45	34
Total	196	202
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
With an allowance recorded	0	0
Total	0	656
Unpaid Principal Balance
With no related allowance recorded	0	798
With an allowance recorded	0	0
Total	0	798
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded	284	728
With an allowance recorded	0	0
Total	284	728
Interest Income
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Cash Basis Interest
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Non-Mortgage (‘‘NM’’) loans
Recorded Investment
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Unpaid Principal Balance
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Related Allowance	0	0
Average Recorded Investment
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Interest Income
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	0	0
Cash Basis Interest
With no related allowance recorded	0	0
With an allowance recorded	0	0
Total	$ 0	$ 0

LOANS - Troubled Debt Restructu

LOANS - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Modifications [Line Items]
Total recorded investment in troubled debt restructurings	$ 4,410	$ 6,320
Related Allowance	25	25
Multifamily residential
Financing Receivable, Modifications [Line Items]
Total recorded investment in troubled debt restructurings	0	667
Related Allowance	0	0
Single family residential
Financing Receivable, Modifications [Line Items]
Total recorded investment in troubled debt restructurings	4,410	5,653
Related Allowance	$ 25	$ 25

NONPERFORMING ASSETS (Details)

NONPERFORMING ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
NONPERFORMING ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	$ 2,164	$ 7,037
Real estate owned	0	0
Total nonperforming assets	2,164	7,037
Contractual interest not accrued during the year	230	273
Multifamily residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	566	2,246
Single family residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total non-accrual loans	1,598	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 Serviced for Others (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	$ 637,508	$ 783,681
Federal Home Loan Mortgage Corporation (Freddie Mac)
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	497,950	625,545
Other financial institutions
Schedule of Loans Serviced for Others [Line Items]
Total mortgage loans serviced for others	$ 139,558	$ 158,136

MORTGAGE SERVICING RIGHTS - M_2

MORTGAGE SERVICING RIGHTS - Mortgage Servicing Rights Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance	$ 4,255	$ 1,099
Additions	139	3,126
Disposals	0	0
Change in fair value due to changes in assumptions	0	0
Other changes in fair value	(931)	30
Ending balance	$ 3,463	$ 4,255

MORTGAGE SERVICING RIGHTS - Nar

MORTGAGE SERVICING RIGHTS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 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	$ 10.1	$ 5.2	$ 10.1	$ 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%
Weighted Average
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	23.30%	21.60%

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 36,325	$ 35,452
Less: accumulated depreciation	(15,344)	(13,000)
Premises and equipment, net	20,981	22,452
Depreciation and amortization expense	2,800	2,900
Leasehold improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	16,404	15,997
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	11,318	10,866
Building
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	6,174	6,160
Land
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 2,429	$ 2,429

DEPOSITS - Deposits (Details)

DEPOSITS - Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deposits [Abstract]
Certificates of deposit	$ 3,297,433	$ 2,242,682
Money market savings	1,335,246	1,389,425
Interest bearing demand	179,272	203,159
Money market checking	123,119	85,073
Non-interest bearing demand	65,970	30,899
Deposits	$ 5,001,040	$ 3,951,238

DEPOSITS - Narrative (Details)

DEPOSITS - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Banking and Thrift [Abstract]
Certificates of deposit with a denomination of $100,000 or More	$ 2,400	$ 1,700
Certificates of deposit that meet or exceed FDIC insurance limit	1,200	829.1
Brokered deposits	$ 467.5	$ 278.4

DEPOSITS - Maturities (Details)

DEPOSITS - Maturities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Maturities of Time Deposits, Twelve months ending March 31,
2,019	$ 2,050,901
2,020	967,920
2,021	252,255
2,022	21,106
2,023	5,251
Time Deposits	$ 3,297,433

FEDERAL HOME LOAN BANK AND FE_3

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Borrowing capacity based on pledged loans to the FRB and FHLB	$ 681.5	$ 1,100
Maximum short-term debt outstanding during period	495.7
Average short-term debt outstanding during period	$ 221.1
Weighted average interest rate	1.76%
FHLB Advances
Short-term Debt [Line Items]
Mortgage loans pledged as collateral	$ 2,100	2,400
FRB Advances
Short-term Debt [Line Items]
Mortgage loans pledged as collateral	$ 406.6	$ 379

FEDERAL HOME LOAN BANK AND FE_4

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - FHLB Advances (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding Balances	$ 1,143,132	$ 989,260
FHLB of San Francisco
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding Balances	1,143,132	989,260
FHLB of San Francisco \| FHLB Fixed Rate Short-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding Balances	$ 166,000	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	2.56%
FHLB of San Francisco \| FHLB Fixed Rate Short-term Borrowings \| Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.58%
FHLB of San Francisco \| FHLB Fixed Rate Short-term Borrowings \| Weighted Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.57%
FHLB of San Francisco \| FHLB Fixed Rate Long-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding Balances	$ 877,132	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	1.13%
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 \| Weighted Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.33%
FHLB of San Francisco \| FHLB Variable Rate Long-term Borrowings
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Outstanding Balances	$ 100,000	$ 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	2.32%
FHLB of San Francisco \| FHLB Variable Rate Long-term Borrowings \| Maximum
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.58%
FHLB of San Francisco \| FHLB Variable Rate Long-term Borrowings \| Weighted Average
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items]
Interest rate	2.45%

FEDERAL HOME LOAN BANK AND FE_5

FEDERAL HOME LOAN BANK AND FEDERAL RESERVE BANK ADVANCES - Schedule of Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
Outstanding advances from FHLB	$ 1,143,132	$ 989,260
FHLB of San Francisco
Federal Home Loan Bank, Advances, Fiscal Year Maturity [Abstract]
2,019	441,000
2,020	150,000
2,021	150,600
2,022	0
2,023	400,750
Thereafter	782
Outstanding advances from FHLB	$ 1,143,132	$ 989,260

JUNIOR SUBORDINATED DEFERRABL_3

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES - Narrative (Details) - Trusts $ in Millions	Dec. 31, 2018USD ($)trust	Dec. 31, 2017trust
Investment [Line Items]
Investment in common securities \| $	$ 1.9
Number of wholly owned trusts \| trust	2	2

JUNIOR SUBORDINATED DEFERRABL_4

JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES - Schedule of Trusts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Amount	$ 61,857	$ 61,857
Trust Preferred Securities Subject to Mandatory Redemption \| Luther Burbank Statutory Trust I \| Trusts
Debt Instrument [Line Items]
Amount	$ 41,238	$ 41,238
Rate	4.17%	2.97%
Trust Preferred Securities Subject to Mandatory Redemption \| Luther Burbank Statutory Trust I \| Trusts \| LIBOR
Debt Instrument [Line Items]
Rate Index (Quarterly Reset)	1.38%
Trust Preferred Securities Subject to Mandatory Redemption \| Luther Burbank Statutory Trust II \| Trusts
Debt Instrument [Line Items]
Amount	$ 20,619	$ 20,619
Rate	4.41%	3.21%
Trust Preferred Securities Subject to Mandatory Redemption \| Luther Burbank Statutory Trust II \| Trusts \| LIBOR
Debt Instrument [Line Items]
Rate Index (Quarterly Reset)	1.62%

SENIOR DEBT - Narrative (Detail

SENIOR DEBT - Narrative (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2014
Senior Unsecured Term Notes, September 2014 \| Senior Unsecured Term Notes
Debt Instrument [Line Items]
Principal	$ 95,000,000	$ 95,000,000	$ 95,000,000

SENIOR DEBT - Schedule of Debt

SENIOR DEBT - Schedule of Debt (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Sep. 30, 2014
Debt Instrument [Line Items]
Fixed Interest Rate	6.50%
Senior Unsecured Term Notes, September 2014 \| Senior Unsecured Term Notes
Debt Instrument [Line Items]
Principal	$ 95,000,000	$ 95,000,000	$ 95,000,000
Unamortized Debt Issuance Costs	$ 707,000	$ 839,000
Fixed Interest Rate	6.50%

INCOME TAXES - Provision_(Benef

INCOME TAXES - Provision/(Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Federal:
Current									$ 13,345	$ 142
Deferred									(1,666)	(4,451)
Total federal tax provision (benefit)									11,679	(4,309)
State:
Current									6,394	2,289
Deferred									(202)	(2,133)
Total state tax provision									6,192	156
Provision (benefit) for income taxes	$ 4,282	$ 4,886	$ 4,528	$ 4,175	$ (5,844)	$ 612	$ 654	$ 425	$ 17,871	$ (4,153)

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax									$ 13,216	$ 22,831
State taxes, net of federal benefit									4,749	156
Benefit of S-Corporation status									0	(21,146)
Conversion as of December 1, 2017 to C-Corporation									0	(7,142)
Tax reform rate change									0	2,968
Deductible costs related to the issuance of common stock									0	(2,133)
Other									(94)	313
Provision (benefit) for income taxes	$ 4,282	$ 4,886	$ 4,528	$ 4,175	$ (5,844)	$ 612	$ 654	$ 425	$ 17,871	$ (4,153)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	1 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax Cuts and Jobs Act of 2017, deferred tax asset, provisional income tax expense	$ 5,300,000
Unrecognized tax benefits	0	$ 0
Income Tax Contingency [Line Items]
Untaxed reserves for bad debt expense	$ 3,100,000	3,100,000
Retained Earnings
Income Tax Contingency [Line Items]
Untaxed reserves for bad debt expense		$ 1,100,000

INCOME TAXES - Deferred Tax Ass

INCOME TAXES - Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Allowance for loan losses	$ 10,387	$ 9,360
Deferred compensation	9,219	8,490
Unrealized loss on securities	2,052	2,139
Net operating loss	0	713
State tax deduction	1,371	0
Other	817	899
Total deferred tax assets	23,846	21,601
Deferred tax liabilities:
Loan fee income	(10,643)	(8,960)
Federal Home Loan Bank stock dividend income deferred for tax purposes	(1,463)	(1,998)
Section 481(a) adjustment related to conversion from cash basis to accrual basis taxpayer in December 2017	(1,201)	(1,757)
Federal depreciation	(789)	(920)
Other	(491)	(474)
Total deferred tax liabilities	(14,587)	(14,109)
Net deferred tax assets	$ 9,259	$ 7,492

REGULATORY MATTERS - Narrative

REGULATORY MATTERS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash paid for dividends	$ 15,963	$ 67,800
Luther Burbank Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio	9.88%	9.25%
Cash paid for dividends	$ 15,963	$ 67,800
Luther Burbank Savings
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio	9.88%	9.25%
Subsequent Event \| Luther Burbank Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Risk-Based Ratio			7.00%
Tier 1 Risk-Based Capital Ratio			8.50%
Total Risk-Based Capital Ratio			10.50%
Subsequent Event \| Luther Burbank Savings
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common Equity Tier 1 Risk-Based Ratio			7.00%
Tier 1 Risk-Based Capital Ratio			8.50%
Total Risk-Based Capital Ratio			10.50%

REGULATORY MATTERS - Capital Am

REGULATORY MATTERS - Capital Amounts and Ratios (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Luther Burbank Corporation
Actual
Tier 1 Leverage Ratio, Amount	$ 644,344	$ 615,010
Tier 1 Leverage Ratio	9.42%	11.26%
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 582,487	$ 553,153
Common Equity Tier 1 Risk-Based Ratio	14.74%	16.05%
Tier 1 Risk-Based Capital Ratio, Amount	$ 644,344	$ 615,010
Tier 1 Risk-Based Capital Ratio	16.30%	17.84%
Total Risk-Based Capital Ratio, Amount	$ 679,841	$ 647,421
Total Risk-Based Capital Ratio	17.20%	18.78%
Minimum Required For Capital Adequacy Purposes
Tier 1 Leverage Ratio, Amount	$ 273,544	$ 218,499
Tier 1 Leverage Ratio	4.00%	4.00%
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 177,873	$ 155,107
Common Equity Tier 1 Risk-Based Ratio	4.50%	4.50%
Tier 1 Risk-Based Capital Ratio, Amount	$ 237,164	$ 206,809
Tier 1 Risk-Based Capital Ratio	6.00%	6.00%
Total Risk-Based Capital Ratio, Amount	$ 316,218	$ 275,746
Total Risk-Based Capital Ratio	8.00%	8.00%
Minimum Required Plus Capital Conservation Buffer
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 251,986	$ 198,192
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio, Amount	$ 311,277	$ 249,894
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio, Amount	$ 390,332	$ 318,831
Total Risk-Based Capital Ratio	9.88%	9.25%
Luther Burbank Savings
Actual
Tier 1 Leverage Ratio, Amount	$ 728,414	$ 685,434
Tier 1 Leverage Ratio	10.65%	12.54%
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 728,414	$ 685,434
Common Equity Tier 1 Risk-Based Ratio	18.43%	19.90%
Tier 1 Risk-Based Capital Ratio, Amount	$ 728,414	$ 685,434
Tier 1 Risk-Based Capital Ratio	18.43%	19.90%
Total Risk-Based Capital Ratio, Amount	$ 763,911	$ 717,845
Total Risk-Based Capital Ratio	19.33%	20.84%
Minimum Required For Capital Adequacy Purposes
Tier 1 Leverage Ratio, Amount	$ 273,469	$ 218,585
Tier 1 Leverage Ratio	4.00%	4.00%
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 177,820	$ 154,980
Common Equity Tier 1 Risk-Based Ratio	4.50%	4.50%
Tier 1 Risk-Based Capital Ratio, Amount	$ 237,094	$ 206,640
Tier 1 Risk-Based Capital Ratio	6.00%	6.00%
Total Risk-Based Capital Ratio, Amount	$ 316,125	$ 275,519
Total Risk-Based Capital Ratio	8.00%	8.00%
Minimum Required Plus Capital Conservation Buffer
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 251,912	$ 198,030
Common Equity Tier 1 Risk-Based Ratio	6.38%	5.75%
Tier 1 Risk-Based Capital Ratio, Amount	$ 311,185	$ 249,689
Tier 1 Risk-Based Capital Ratio	7.88%	7.25%
Total Risk-Based Capital Ratio, Amount	$ 390,217	$ 318,569
Total Risk-Based Capital Ratio	9.88%	9.25%
Minimum Required For Well- Capitalized Institution
Tier 1 Leverage Ratio, Amount	$ 341,836	$ 273,232
Tier 1 Leverage Ratio	5.00%	5.00%
Common Equity Tier 1 Risk-Based Ratio, Amount	$ 256,851	$ 223,859
Common Equity Tier 1 Risk-Based Ratio	6.50%	6.50%
Tier 1 Risk-Based Capital Ratio, Amount	$ 316,125	$ 275,519
Tier 1 Risk-Based Capital Ratio	8.00%	8.00%
Total Risk-Based Capital Ratio, Amount	$ 395,156	$ 344,399
Total Risk-Based Capital Ratio	10.00%	10.00%

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) $ in Thousands	12 Months Ended
DERIVATIVES - Narrative (Details) $ in Thousands	Dec. 31, 2018USD ($)agreement	Dec. 31, 2017USD ($)agreement
Derivative [Line Items]
Interest expense	$ 100,970	$ 63,342
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Cap
Derivative [Line Items]
Notional amounts	50,000	100,000
Amortization	$ 650	$ 450
Fair Value Hedging \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Number of instruments held \| agreement	0	0
Interest expense	$ 857
Realized loss recognized		$ 335

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivatives (Details) - Cash Flow Hedging - Designated as Hedging Instrument - Interest Rate Cap - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amounts	$ 50,000	$ 100,000
Weighted average rate on FHLB advances	2.58%	1.42%
Weighted average cap rate	2.80%	2.55%
Weighted average original maturity	5 years	4 years
Weighted average remaining maturity	3 months	10 months 15 days
Unrealized losses	$ (147)	$ (796)

EMPLOYEE BENEFIT PLANS - Salary

EMPLOYEE BENEFIT PLANS - Salary Continuation Arrangements (Details) - Executives and Directors - Salary Continuation Arrangements - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Accrued obligation	$ 14,800	$ 15,000
Recognized compensation expense	571	1,300
Cash surrender value of bank owned life insurance	17,900	17,700
Bank owned life insurance income	$ 181	$ 192

EMPLOYEE BENEFIT PLANS - 401(k)

EMPLOYEE BENEFIT PLANS - 401(k) Plan (Details) - 401(k) Savings Plan - Qualified Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Contribution Plan Disclosure [Line Items]
Minimum employee age	18 years
Requisite service period (at least)	6 months
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employee salary contribution (up to)	3.00%
Employer matching contribution, salary contribution deferrals, percent of match	50.00%
Employer contributions	$ 925	$ 851
Minimum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employee salary contribution deferrals	3.00%
Maximum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of employee salary contribution deferrals	5.00%

EMPLOYEE BENEFIT PLANS - Other

EMPLOYEE BENEFIT PLANS - Other Awards (Details) - USD ($) $ in Thousands	Dec. 31, 2010	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Interest expense		$ 100,970	$ 63,342
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, deferred, adjustable interest rate		1.10%	1.10%
Liability for undistributed amounts		$ 937	$ 1,200
Interest expense		$ 11	$ 10
Jumbo Certificate of Deposit \| Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, deferred, adjustable interest rate, term of underlying investment	12 months

EMPLOYEE BENEFIT PLANS - Phanto

EMPLOYEE BENEFIT PLANS - Phantom Stock Plan (Details) - USD ($) $ in Thousands	Dec. 07, 2017	Jan. 01, 2014	Jan. 01, 2011	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, deferred, adjustable interest rate				1.10%	1.10%
Award vesting period		5 years
Plan modification, liability transferred to common stock	$ 6,400
Liability for undistributed amounts				$ 2,200	$ 2,400
Stock-based compensation expense				$ 41	$ 1,300
Vested share equivalents (in shares)				215,362	237,400
Vesting after one year of service \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			80.00%
Award requisite service period			4 years
Vesting after four years of service \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage			100.00%
Award requisite service period			5 years
Directors \| Vesting after one year of service \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		100.00%
Award vesting period		1 year
Management \| Vesting after four years of service \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		80.00%
Award requisite service period		4 years
Management \| Vesting after five years of service \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage		100.00%
Award requisite service period		5 years
Jumbo Certificate of Deposit \| Phantom Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, deferred, adjustable interest rate, term of underlying investment			12 months

EMPLOYEE BENEFIT PLANS - Phan_2

EMPLOYEE BENEFIT PLANS - Phantom Stock Award Activity and the Balance of Share Equivalents Outstanding (Details) - Phantom Stock - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Beginning of the period balance (in shares)	237,400	1,274,600
Share equivalents granted (in shares)	0	50,000
Share equivalents exercised (in shares)	(22,038)	(226,900)
Share equivalents forfeited (in shares)	0	(210,900)
Share equivalents converted to restricted stock units (in shares)	0	(649,400)
End of the period balance (in shares)	215,362	237,400

STOCK BASED COMPENSATION - Narr

STOCK BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands	Dec. 12, 2017	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Common stock reserved for new awards (in shares)	3,360,000
Common stock available for grant (in shares)		2,581,960	2,689,699
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Stock-based compensation expense		$ 4,400	$ 586
Vested in period, fair value		$ 3,800
Vested in period (in shares)		272,080	0
Unrecognized compensation expense		$ 4,300	$ 7,200
Restricted stock awards or units granted (in shares)		985,869	1,184,621
Period of recognition for unrecognized compensation expense		1 year 10 months 28 days	2 years 4 months 25 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units vested (in shares)		169,490	135,079
Non-employee directors \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Employees \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

STOCK BASED COMPENSATION - Awar

STOCK BASED COMPENSATION - Awards Activity (Details) - RSUs and RSAs - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Number of Shares
Beginning of the period balance (in shares)	1,319,700	0
Phantom stock converted to restricted stock units (in shares)	0	649,400
Shares granted (in shares)	131,140	670,300
Shares settled (in shares)	(272,080)	0
Shares forfeited (in shares)	(23,401)	0
End of the period balance (in shares)	1,155,359	1,319,700
Weighted Average Grant Date Fair Value
Beginning of the period balance (in usd per share)	$ 10.75	$ 0
Phantom stock converted to restricted stock units (in usd per share)	0	10.75
Shares granted (in usd per share)	12.77	10.75
Shares settled (in usd per share)	10.75	0
Shares forfeited (in usd per share)	10.75	0
End of the period balance (in usd per share)	$ 10.97	$ 10.75

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Investment securities:
Available for sale	$ 619,966	$ 503,288
Held to maturity	11,625	6,925
Carrying Amount
Financial assets:
Cash and cash equivalents	91,697	75,578
Investment securities:
Available for sale	619,966	503,288
Held to maturity	11,860	6,921
Loans receivable, net	6,096,316	5,011,235
Accrued interest receivable	20,220	14,901
Federal Home Loan Bank stock	31,823	27,733
Interest rate cap premium		1
Financial liabilities:
Deposits	5,001,040	3,951,238
FHLB advances	1,143,132	989,260
Junior subordinated deferrable interest debentures	61,857	61,857
Senior debt	94,293	94,161
Accrued interest payable	4,307	1,781
Fair Value
Financial assets:
Cash and cash equivalents	91,697	75,578
Investment securities:
Available for sale	619,966	503,288
Held to maturity	11,625	6,925
Loans receivable, net	6,092,885	5,022,250
Accrued interest receivable	20,220	14,901
Interest rate cap premium		1
Financial liabilities:
Deposits	4,957,054	3,917,999
FHLB advances	1,144,326	989,833
Junior subordinated deferrable interest debentures	56,596	58,624
Senior debt	99,673	104,500
Accrued interest payable	4,307	1,781
Fair Value \| Level 1
Financial assets:
Cash and cash equivalents	91,697	75,578
Investment securities:
Available for sale	976	984
Held to maturity	0	0
Loans receivable, net	0	0
Accrued interest receivable	62	27
Interest rate cap premium		0
Financial liabilities:
Deposits	1,703,607	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	618,990	502,304
Held to maturity	11,625	6,925
Loans receivable, net	0	0
Accrued interest receivable	1,739	1,320
Interest rate cap premium		1
Financial liabilities:
Deposits	3,253,447	2,209,443
FHLB advances	1,144,326	989,833
Junior subordinated deferrable interest debentures	56,596	58,624
Senior debt	99,673	104,500
Accrued interest payable	4,307	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	6,092,885	5,022,250
Accrued interest receivable	18,419	13,554
Interest rate cap premium		0
Financial liabilities:
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	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	$ 619,966	$ 503,288
Mortgage servicing rights	3,463	4,255	$ 1,099
Impaired loans	933	962
Single family residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	933	962
Residential MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	192,113	243,372
Commercial MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	292,951	130,017
Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	122,488	117,222
U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	976	984
CRA Qualified Investment Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	11,438	11,693
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	619,966	503,288
Interest rate cap premium		1
Fair Value \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	619,966	503,288
Mortgage servicing rights	3,463	4,078
Interest rate cap premium		1
Fair Value \| Recurring Basis \| Residential MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	192,113	243,372
Fair Value \| Recurring Basis \| Commercial MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	292,951	130,017
Fair Value \| Recurring Basis \| Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	122,488	117,222
Fair Value \| Recurring Basis \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	976	984
Fair Value \| Recurring Basis \| CRA Qualified Investment Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	11,438	11,693
Fair Value \| Nonrecurring Basis \| Single family residential \| Permanent mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans		191
Level 1 \| Nonrecurring Basis \| Single family residential \| Permanent mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans		0
Level 1 \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	976	984
Interest rate cap premium		0
Level 1 \| Fair Value \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	976	984
Mortgage servicing rights	0	0
Interest rate cap premium		0
Level 1 \| Fair Value \| Recurring Basis \| Residential MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 1 \| Fair Value \| Recurring Basis \| Commercial MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 1 \| Fair Value \| Recurring Basis \| Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 1 \| Fair Value \| Recurring Basis \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	976	984
Level 1 \| Fair Value \| Recurring Basis \| CRA Qualified Investment Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 2 \| Nonrecurring Basis \| Single family residential \| Permanent mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans		0
Level 2 \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	618,990	502,304
Interest rate cap premium		1
Level 2 \| Fair Value \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	618,990	502,304
Mortgage servicing rights	0	0
Interest rate cap premium		1
Level 2 \| Fair Value \| Recurring Basis \| Residential MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	192,113	243,372
Level 2 \| Fair Value \| Recurring Basis \| Commercial MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	292,951	130,017
Level 2 \| Fair Value \| Recurring Basis \| Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	122,488	117,222
Level 2 \| Fair Value \| Recurring Basis \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 2 \| Fair Value \| Recurring Basis \| CRA Qualified Investment Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	11,438	11,693
Level 3 \| Nonrecurring Basis \| Single family residential \| Permanent mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans		191
Level 3 \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Interest rate cap premium		0
Level 3 \| Fair Value \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Mortgage servicing rights	3,463	4,078
Interest rate cap premium		0
Level 3 \| Fair Value \| Recurring Basis \| Residential MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 3 \| Fair Value \| Recurring Basis \| Commercial MBS and CMOs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 3 \| Fair Value \| Recurring Basis \| Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 3 \| Fair Value \| Recurring Basis \| U.S. Treasury
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	0	0
Level 3 \| Fair Value \| Recurring Basis \| CRA Qualified Investment Fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale investment securities, at fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	12 Months Ended
FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2018
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable	$ 5,011,235,000	$ 6,096,316,000
Nonrecurring Basis
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value, net asset (liability)		$ 0
Fair Value \| Nonrecurring Basis \| Single family residential \| Permanent mortgages
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans receivable	196,000
Loans receivable, fair value	191,000
Charge-offs recorded	$ 5,000

VARIABLE INTEREST ENTITIES (V_2

VARIABLE INTEREST ENTITIES (VIE) (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
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	$ 1.4	$ 1.7

LOAN SALE AND SECURITIZATION _3

LOAN SALE AND SECURITIZATION ACTIVITIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Minimum net worth	$ 2
Actual net worth	$ 727.1
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%
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

LOAN SALE AND SECURITIZATION _4

LOAN SALE AND SECURITIZATION ACTIVITIES - Cash Flow from Sale of Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Transfers and Servicing [Abstract]
Proceeds from loan sales	$ 19,604	$ 689,372
Servicing fees	$ 1,536	$ 675

LOAN SALE AND SECURITIZATION _5

LOAN SALE AND SECURITIZATION ACTIVITIES - Loans Transfered Through Loans or Securitization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 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	$ 26,200	$ 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	611,308	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	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating Leased Assets [Line Items]
Rent expense for operating leases	$ 5,300	$ 4,400
Sublease income	788	624
Cash balances held at other institutions that exceed FDIC insured limits	$ 736	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
Operating Leased Assets [Line Items]
Real estate loan funding commitments	$ 70,900	65,800
Unfunded Loan Commitment
Operating Leased Assets [Line Items]
Reserve recorded on real estate loan funding commitments	$ 52	$ 197

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Operating Lease Maturities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,019	$ 5,246
2,020	3,851
2,021	3,380
2,022	2,419
2,023	1,255
Thereafter	1,764
Operating Leases Payable	$ 17,915

UNAUDITED QUARTERLY FINANCIAL_3

UNAUDITED QUARTERLY FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net interest income	$ 31,751	$ 31,712	$ 31,159	$ 30,465	$ 27,554	$ 28,760	$ 27,733	$ 26,850	$ 125,087	$ 110,895
Provision for (reversal of) loan losses	150	650	1,300	1,500	1,250	1,550	(6,481)	309	3,600	(3,372)
Net interest income after provision for (reversal of) loan losses	31,601	31,062	29,859	28,965	26,304	27,210	34,214	26,541	121,487	114,267
Noninterest income	1,246	1,043	817	1,025	1,494	4,931	201	882	4,131	7,508
Noninterest expense	17,962	15,090	14,922	14,713	13,221	13,782	14,840	14,703	62,687	56,544
Income before provision (benefit) for income taxes	14,885	17,015	15,754	15,277	14,577	18,359	19,575	12,720	62,931	65,231
Provision (benefit) for income taxes	4,282	4,886	4,528	4,175	(5,844)	612	654	425	17,871	(4,153)
Net income	$ 10,603	$ 12,129	$ 11,226	$ 11,102	$ 20,421	$ 17,747	$ 18,921	$ 12,295	$ 45,060	$ 69,384
EPS:
Basic (in dollars per share)	$ 0.19	$ 0.22	$ 0.20	$ 0.20	$ 0.45	$ 0.42	$ 0.45	$ 0.29	$ 0.80	$ 1.62
Diluted (in dollars per share)	$ 0.19	$ 0.21	$ 0.20	$ 0.20	$ 0.45	$ 0.42	$ 0.45	$ 0.29	$ 0.79	$ 1.62

PARENT COMPANY ONLY FINANCIAL_3

PARENT COMPANY ONLY FINANCIAL INFORMATION - Condensed Statements of Financial Condition (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 91,697	$ 75,578	$ 59,208
Total assets	6,937,212	5,704,380
LIABILITIES AND STOCKHOLDERS' EQUITY
Junior subordinated deferrable interest debentures	61,857	61,857
Interest payable on junior subordinated deferrable interest debentures	4,307	1,781
Other liabilities and accrued expenses	51,438	56,338
Total stockholders' equity	581,145	549,745	404,375
Total liabilities and stockholders' equity	6,937,212	5,704,380
Luther Burbank Corporation
ASSETS
Cash and cash equivalents	9,224	11,612	$ 11,114
Receivable from Bank	21	6,990
Other assets	6	3,195
Total assets	738,430	705,910
LIABILITIES AND STOCKHOLDERS' EQUITY
Junior subordinated deferrable interest debentures	61,857	61,857
Other borrowings	94,293	94,161
Interest payable on junior subordinated deferrable interest debentures	109	89
Other liabilities and accrued expenses	1,026	58
Total stockholders' equity	581,145	549,745
Total liabilities and stockholders' equity	738,430	705,910
Subsidiaries \| Investment in Bank
ASSETS
Investment in subsidiary	727,073	682,026
Subsidiaries \| Investment in Burbank Financial, Inc.
ASSETS
Investment in subsidiary	249	230
Subsidiaries \| Investment in Luther Burbank Statutory Trusts 1 & 2
ASSETS
Investment in subsidiary	$ 1,857	$ 1,857

PARENT COMPANY ONLY FINANCIAL_4

PARENT COMPANY ONLY FINANCIAL INFORMATION - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Condensed Income Statements, Captions [Line Items]
Interest expense									$ 100,970	$ 63,342
Other operating expense									4,924	4,014
Income before provision (benefit) for income taxes	$ 14,885	$ 17,015	$ 15,754	$ 15,277	$ 14,577	$ 18,359	$ 19,575	$ 12,720	62,931	65,231
Provision (benefit) for income taxes	4,282	4,886	4,528	4,175	(5,844)	612	654	425	17,871	(4,153)
Net income	$ 10,603	$ 12,129	$ 11,226	$ 11,102	$ 20,421	$ 17,747	$ 18,921	$ 12,295	45,060	69,384
Comprehensive income									45,272	67,918
Luther Burbank Corporation
Condensed Income Statements, Captions [Line Items]
Interest expense									(8,505)	(7,924)
Dividend income from Bank									6,800	35,600
Other operating expense									(451)	(110)
Income before provision (benefit) for income taxes									(2,156)	27,566
Provision (benefit) for income taxes									2,362	3,392
Net income									206	30,958
Equity in undistributed net income of subsidiaries									44,854	38,426
Net income									45,060	69,384
Comprehensive income									$ 45,060	$ 69,384

PARENT COMPANY ONLY FINANCIAL_5

PARENT COMPANY ONLY FINANCIAL INFORMATION - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Adjustments to reconcile net income to net cash provided by operating activities:
Stock based compensation	$ 4,355	$ 586
Net cash provided by operating activities	58,960	78,414
Cash flows from investing activities:
Net cash used in investing activities	(1,228,288)	(627,174)
Cash flows from financing activities:
Cash paid for dividends	(15,963)	(67,800)
Shares withheld for taxes on vested restricted stock	(769)	0
Shares repurchased	(1,495)	0
Proceeds from issuance of common stock	0	138,287
Net cash provided by financing activities	1,185,447	565,130
Increase in cash and cash equivalents	16,119	16,370
Cash and cash equivalents, beginning of period	75,578	59,208
Cash and cash equivalents, end of period	91,697	75,578
Luther Burbank Corporation
Cash flows from operating activities:
Net income	45,060	69,384
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries	(44,854)	(38,426)
Change in receivable from Bank	6,969	(6,990)
Stock based compensation	4,355	6,965
Net change in other assets and liabilities	4,309	(2,922)
Net cash provided by operating activities	15,839	28,011
Cash flows from investing activities:
Capital contribution to Bank	0	(98,000)
Net cash used in investing activities	0	(98,000)
Cash flows from financing activities:
Cash paid for dividends	(15,963)	(67,800)
Shares withheld for taxes on vested restricted stock	(769)	0
Shares repurchased	(1,495)	0
Proceeds from issuance of common stock	0	138,287
Net cash provided by financing activities	(18,227)	70,487
Increase in cash and cash equivalents	(2,388)	498
Cash and cash equivalents, beginning of period	11,612	11,114
Cash and cash equivalents, end of period	$ 9,224	$ 11,612