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Junior Subordinated Deferrable Interest Debentures (Tables) | 12 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Outstanding Securities and Notes | The following table is a summary of the outstanding Trust Securities and Notes at September 30, 2024.
|  | Issued Amount |  | Carrying Amount 1 |  |  |  |  |  | Date Issued |  | Maturity Date |  | Rate Index
Issuer |  |  |  | Rate |  |  |  |  |  |  |  | (Quarterly Reset)
|  | ($ in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Luther Burbank Statutory Trust I |  | $ | 41,238 |  |  | $ | 33,681 |  |  | 6.59 | % |  |  |  |  |  | 3/30/2006 |  | 6/15/2036 |  | 3 month CME Term SOFR + Tenor Spread Adjustment (0.26%) + 1.38%
Luther Burbank Statutory Trust II |  | $ | 20,619 |  |  | $ | 17,037 |  |  | 6.83 | % |  |  |  |  |  | 3/30/2007 |  | 6/15/2037 |  | 3 month CME Term SOFR + Tenor Spread Adjustment (0.26%) + 1.62%
1 Includes fair value adjustments made as a result of purchase accounting

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