UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 11, 2020
Luther Burbank Corporation
(Exact name of registrant as specified in its charter)
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California (State or other jurisdiction of incorporation or organization) | 001-38317 (Commission file number) | 68-0270948 (I.R.S. employer identification number) |
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520 Third St, Fourth Floor, Santa Rosa, California (Address of principal executive offices) | | 95401 (Zip code) |
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Registrant's telephone number, including area code: (844) 446-8201 |
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| Securities Registered Under Section 12(b) of the Act |
| Title of Each Class | | Trading Symbol | | Name of Each Exchange on Which Registered |
| Common stock, no par value | | LBC | | The Nasdaq Stock Market LLC |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 8.01. Other Events
On March 11, 2020, the Board of Directors of Luther Burbank Corporation (the “Company”) authorized the repurchase of an additional $15.0 million of the Company's common stock under its currently existing stock repurchase plan (the "Plan"). This authorization is in addition to the $4.7 million remaining at December 31, 2019 under the current Plan initially approved by the Company's Board of Directors in August 2018, as well as the $15.0 million of additional repurchases approved in February 2020. The Plan remains effective through December 31, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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| | | LUTHER BURBANK CORPORATION |
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| DATED: March 12, 2020 | | By: /s/ Laura Tarantino |
| | | Laura Tarantino |
| | | Executive Vice President and Chief Financial Officer |
