Luther Burbank Savings

What Luther Burbank Savings does

Luther Burbank Savings operates as a regional U.S. community bank within a broader platform that traces its institutional roots to 1917 as Washington Federal Savings and Loan Association, converting to a stock company in 2000 and rebranding to WaFd Bank in 2023; it is publicly traded on NASDAQ and FDIC-insured. The bank serves individual consumers, small-to-medium businesses, and commercial customers across nine western U.S. states — Arizona, California, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, and Washington — through a distribution model that combines 200+ physical branches and thousands of fee-free ATMs with 24/7 online and mobile banking, mobile check deposit, and voice-activated banking.

Its core products span three segments: Personal Banking (free and interest-bearing checking, savings and money market accounts, CDs, IRAs, mortgages, cash-back and secured credit cards, and youth/family products including a Greenlight-powered kids debit card), Business Banking (business checking, SBA-backed loans and lines of credit, business credit cards, merchant services, and cash management with Zelle for business), and Commercial Banking (commercial term loans, lines of credit, commercial real estate financing, equipment and acquisition financing, plus specialized verticals for government, agribusiness, senior housing, and community associations). Technology is described as standard commercial banking infrastructure supporting digital channels rather than proprietary AI/ML systems.

The revenue model is a traditional bank mix of net interest income from lending (commercial, mortgage, SBA) and deposits (personal, business, commercial), supplemented by fee-based income from checking account charges, credit card services, merchant services, and cash management. Pricing is structured around a no-monthly-fee free checking tier, competitive-rate money market accounts, straightforward business checking, and SBA lending rates and terms that vary by deal. The bank reported fiscal 2025 net income of $226 million and diluted EPS of $2.63, alongside an announced strategic shift from mortgage lending toward business solutions.

Name

Luther Burbank Savings

Legal name

WaFd Bank

Website

https://lutherburbanksavings.com

Company type

Public

Founded year

1917

Operating status

Operating

Headcount range

101–250 employees

Short description

Luther Burbank Savings is a publicly traded regional U.S. community bank, operating within the WaFd Bank platform of 200+ branches across nine western states, serving individual consumers, small-to-medium businesses, and commercial customers with deposits, lending, SBA financing, and digital banking services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Commercial Banking (52211)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Retail banking services
• Mortgage lending
• Savings accounts
• Financial services
• Community banking

Headquarters

HQ city

Santa Rosa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Revenue model

1. Interest Income from Lending: Traditional banking revenue from interest earned on loan portfolios including commercial lending, mortgage lending, and business financing. The company has been strategically shifting from mortgage lending toward providing business solutions.
2. Deposit-Based Revenue: Revenue generated from deposit mix improvements and deposit gathering across personal, business, and commercial accounts.
3. Fee-Based Income: Non-interest income from various banking fees including checking account fees (non-sufficient funds charges may apply), credit card services, merchant services, and cash management services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Luther Burbank Savings is a financial services company that specializes in finance, banking, and mortgage services. The firm operates as a publicly traded community bank headquartered in Santa Rosa, California, providing deposit, lending, and mortgage products to its customers. Its core competencies center on traditional banking activities combined with real estate-secured mortgage origination.

Product overview

WaFd Bank operates as a regional community bank offering a unified, full-service banking platform. The product portfolio spans three main segments: Personal Banking (checking, savings, CDs, IRAs, mortgages, credit cards, and digital banking), Business Banking (checking, loans, credit cards, merchant services, and cash management), and Commercial Banking (commercial lending, real estate financing, and specialized industry services). Digital banking is delivered through an integrated Online Banking platform and Mobile App, with supplementary services including Voice-Activated Banking and Zelle for P2P payments. The bank operates 200+ branches across 9 western U.S. states and maintains strategic SBA Preferred Lender status.

Differentiator

Problem solved

Functional benefit

Products and services

• Banking Services
• Mortgage Services
• Financial Services

Quantifiable outcome

• Net income of $226 million in fiscal 2025
• +1 more outcomes

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature3 records

Partnerships

Two partnerships are on record, tiered minor and core.

• GreenlightminorGTM or Marketing PartnerPartnership with Greenlight for kids debit card services offered through WaFd Bank. The Family Shield product provides children with their own debit card along with parental monitoring features including suspicious activity alerts and account monitoring. Terms and conditions may apply.
• SBA (Small Business Administration)coreOthersSBA preferred lender status enables WaFd Bank to provide government-backed business loans including SBA 7(a) loans and other SBA financing programs. This partnership provides differentiated access to small business capital.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Banner Corporation: Pacific Northwest community/regional bank (NASDAQ: BANR) headquartered in Walla Walla, WA. Operates branches across Washington, Oregon, Idaho, California, and Utah — directly overlapping with WaFd's footprint and customer segments.
• First Interstate BancSystem: Mountain West regional bank (NASDAQ: FIBK) operating across several western states including Montana, Wyoming, Idaho, Oregon, and Washington. Similar asset size and community banking heritage with comparable business lending exposure.
• Zions Bancorporation: Mid-cap regional bank (NASDAQ: ZION) with a similar western US footprint spanning Utah, Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, and Washington. Operates a comparable multi-state branch model with similar business and commercial lending focus, making it the closest direct peer to WaFd Bank.
• Western Alliance Bancorporation: Western US-focused regional bank (NYSE: WAL) with comparable commercial and business banking emphasis. Similar scale and growth profile, competing in overlapping western markets for commercial deposits and SBA lending.
• East West Bancorp: California- and western-focused commercial bank (NASDAQ: EWBC) with strong business banking and CRE lending franchise. Directly comparable commercial banking emphasis and overlapping California market presence.
• CVB Financial (Citizens Business Bank): California-headquartered community bank (NASDAQ: CVBF) with strong business and commercial banking focus. Comparable size and business model, particularly relevant given WaFd's California branch concentration.
• Pacific Premier Bancorp: West Coast-focused regional bank (NASDAQ: PPBI) operating in California, Washington, Oregon, Arizona, Nevada, and other western states. Competes directly with WaFd for business deposits, SBA loans, and CRE financing in overlapping markets.
• Umpqua Holdings Corporation: Pacific Northwest regional bank (NASDAQ: UMPQ) with branches in Oregon, Washington, California, Idaho, Nevada, and Colorado. Similar hybrid branch-and-digital community banking model targeting both consumer and commercial customers.

Broad incumbents

• Wells Fargo & Company: Major diversified US bank (NYSE: WFC) with strong western US roots and a full-service consumer, business, and commercial banking platform. Competes with WaFd across deposit gathering, mortgage, and small business banking in the same markets but at vastly greater scale.
• U.S. Bancorp: Large super-regional bank (NYSE: USB) with significant western US presence across personal, business, and commercial banking. Operates as a broad incumbent offering many of the same products as WaFd but at materially larger scale and broader geographic footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/luther-burbank-savings

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Luther Burbank Savings