SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 7, 2018
Luther Burbank Corporation
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization)
(I.R.S. employer identification number)
520 Third St, Fourth Floor Santa Rosa
(Address of principal executive offices)
Registrant's telephone number, including area code: (844) 446-8201
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:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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 ☒
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. ☐
ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers
(c) On June 7, 2018, Luther Burbank Corporation (the “Company”) promoted Scott Frazee to Senior Vice President, Director of Operations of the Company and its subsidiaries. In this role, Mr. Frazee will oversee the Lending Operations, Deposit Operations, Information Technology, and Project Management departments.
Mr. Frazee is a current executive officer of the Company, and the information required by Item 401 of Regulation S-K about him is incorporated by reference to the Company’s Official Notification to Shareholders of Matters to be Brought to a Vote in connection with the Company’s 2018 Annual Shareholder Meeting (“2018 Proxy”), filed with the SEC on April 9, 2018. Mr. Frazee has not been and does not propose to be a party to any transaction requiring disclosure pursuant to Item 404(a) of Regulation S-K. No material plan, contract or arrangement (whether or not written) to which Mr. Frazee is a party or in which he participates was entered into or amended in connection with the events described in this Form 8-K and no grant or award was made to him or modified under any such plan, contract or arrangement in connection with the events described in this Form 8-K.
ITEM 7.01 Regulation FD
On June 12, 2018, the Company issued a press release announcing the promotion of Mr. Frazee and of Mr. Robert Armstrong, Executive Vice President, Chief Banking Officer, a copy of which is furnished as Exhibit 99.1 hereto pursuant to Item 7.01 of Form 8-K. The information contained in this Item 7.01 and in the press release attached as Exhibit 99.1 are being furnished pursuant to Item 7.01 “Regulation FD Disclosure,” and are not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS
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.
LUTHER BURBANK CORPORATION
DATED: JUNE 12, 2018 By: /s/ Liana Prieto
Executive Vice President, General Counsel and Corporate Secretary
Luther Burbank Corporation
LUTHER BURBANK SAVINGS PROMOTES TWO SENIOR EXECUTIVES
-Robert Armstrong and Scott Frazee-
SANTA ROSA, Calif. (June 12, 2018) - Luther Burbank Corporation (“the Company”) (NASDAQ: LBC), the holding company for Luther Burbank Savings (the “Bank”), announced today the promotions of two senior bankers, Robert Armstrong to Executive Vice President, Chief Banking Officer and Scott Frazee to Senior Vice President, Director of Operations.
John Biggs, President and Chief Executive Officer of Luther Burbank Corporation stated, “I am delighted to announce these two promotions as recognition of the value both Robert and Scott provide to our organization.”
The organizational changes signify a realignment of related business units under the leadership of a single executive. Mr. Armstrong will be responsible for deposit gathering and will also be the Bank’s representative to investors for all deposit gathering activities. Mr. Frazee will be responsible for loan operations, deposit operations, information technology and project management.
joined the bank as Director of Business and Online Banking in January 2016. Prior to that he served as Senior Vice President of Business Banking at BofI Federal Bank. Mr. Armstrong’s background also includes positions as CEO/President of San Diego Private Bank, Market President at US Bank and Managing Director at Bank of America. He holds a B.S. in Economics from the University of California, Los Angeles.
Mr. Frazee joined the Bank in 2014 after having served as Senior Vice President of Commercial Real Estate Underwriting/Commercial Loan Fulfillment at Opus Bank, as Senior Vice President of Commercial Real
Estate Origination/Portfolio Management at OneWest Bank, as a National Lending Operations Manager at Washington Mutual/Chase Bank, N.A., and as Senior Vice President of Risk Management at Southern Pacific Bank. Previous to that he was a commissioned FDIC examiner. Mr. Frazee served four years in the U.S. Army and holds a B.A. in Business Administration from San Diego State University.
About Luther Burbank Corporation
Luther Burbank Corporation is a publicly owned company traded on the NASDAQ Capital Market under the symbol “LBC.” The Company is headquartered in Santa Rosa, California with total assets of $6.0 billion, total loans of $5.3 billion and total deposits of $4.1 billion as of March 31, 2018. It operates primarily through its wholly-owned subsidiary, Luther Burbank Savings, an FDIC insured, California-chartered bank. Luther Burbank Savings executes on its mission to improve the financial future of customers, employees and shareholders by providing personal banking and business banking services. It offers consumers a host of highly competitive depository and mortgage products coupled with personalized attention. Business customers benefit from boutique-quality service along with access to products which meet their unique financial needs from the convenience of online and mobile banking, robust cash management solutions, and high-yield liquidity management products to multifamily and commercial lending. Currently operating in California, Oregon and Washington, from nine branches in California and nine lending offices located throughout the market area, Luther Burbank Savings is an equal housing lender. For additional information, please visit lutherburbanksavings.com.