![]() ![]() This crime is more commonly called a Burbank Drunk Driving case.īurbank is also home to the Burbank Courthouse, located at 300 East Olive Avenue, Burbank, CA, 91502. People are being arrested and jail for Driving Under the Influence of Alcohol in Burbank. The number of Burbank DUI cases has dramatically increased over the last few years. ![]() Susan Wood covers law, cannabis, production, tech, energy, transportation, agriculture as well as banking and finance.Burbank is a city located 12 miles northwest of downtown Los Angeles that is known as the "Media Capital of the World" due to the presence of such large media conglomerates as the Walt Disney Company, Warner Brothers, and NBC. It runs 199 branches in eight Western states with $22.55 billion in total assets. If the merger goes through as planned, Washington Federal plans to manage Luther Burbank Savings’ locations under one umbrella. It has six loan production offices in the Golden State. With assets totaling $8.36 billion, Luther Burbank Savings operates 10 full-service branches in California and another in Washington. There was a slight improvement from the $5.64 billion recorded in the opening quarter of 2023. Second quarter deposits also showed a decline when comparing its $5.84 billion to its year-over-year statement in 2022 at $5.66 billion. Year over year, loan amounts improved from the $6.63 billion recorded for the second quarter in 2022. Total loan results for the second quarter in 2023 are in line with the prior three months, standing at $6.92 billion and $7 billion, respectively. This revenue source primarily consists of FHLB (Federal Home Loan Banks) stock dividends, fair-value adjustments on equity securities and other fee income. Luther Burbank Savings also recorded $891,000 in non-interest income for the second quarter, a decrease of $344,000 when comparing the figure with the previous three months ending March 31. “Our financial results for the second quarter are reflective of our liability sensitive balance sheet and the impact from the unprecedented rise in interest rates over the past 16 months,” she said. The Federal Reserve is raising rates to curb spending and therefore keep inflation in check. ![]() She doesn’t expect earnings will do so beforehand. Still, Luther Burbank Savings President and CEO Simone Lagomarsino said in a statement she hopes that interest rates will soon decline, and with that, earnings will improve. While the Sonoma County-based institution inches closer to its $654 million acquisition by Washington Federal, commonly known as “WaFed,” local bank officials have declined to comment about its financials since the announcement was made last November. This past quarter’s $26.32 million was 22.5% lower than the first three months of 2023 and 44.6% below 2022’s second quarter, at $33.98 million and $47.47 million, respectively. Net interest income, defined as the difference between interest-bearing account revenue and the costs of servicing deposits and debt, was also not immune to throwing hurdles in front of banking profits. Net income for the second quarter of 2022 was $22.56 million, over three times higher. The 48.5% drop from the prior quarter’s $13.44 million in earnings for the Santa Rosa-based financial institution reflects how pervasive financial market conditions punctuated by high interest rates have impacted the industry. expected to close sometime this summer, Luther Burbank Corporation (Nasdaq: LBC) on Tuesday reported second-quarter earnings of $6.91 million. As it prepares for a merger with Seattle-based Washington Federal Inc. ![]()
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