Luther Burbank Corporation Announces Systematic Repurchase Plan

Dec 14, 2018

SANTA ROSA, Calif., Dec. 14, 2018 (GLOBE NEWSWIRE) -- Luther Burbank Corporation (the “Company”) (NASDAQ: LBC), the holding company for Luther Burbank Savings (the “Bank”), today announced it has adopted a systematic repurchase plan (the “Plan”) under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate the repurchase of shares as part of its previously authorized stock repurchase program. The Plan enables shares to be purchased during an otherwise self-imposed blackout period between the fifteenth day of the last month of the quarter and the reporting of the Company’s financial results. The Company had approximately $15.0 million available under its outstanding repurchase authorization as of September 30, 2018.

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