Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
LSB Financial history
LSB Financial company history timeline
In 1961, the founder of LSB, Jack E. Golsen, acquired the company.
1968 Golsen incorporates a holding company, LSB Industries, Inc.
Sales dipped to $63.9 million in 1983 and the company had to contend with a heavy debt load and the discounting of its large inventories.
In 1989 it would pay $10.3 million for United BankCard Inc., the largest bank credit card operator in Oklahoma, issuing both Visa and MasterCard credit cards.
As an inducement to get involved, the Resolution Trust Corporation (RTC), a government agency formed in 1989 to help bail out or merge insolvent S&Ls, gave Equity financial assistance, essentially making up for losses on nonperforming assets.
Sales fell to $248.2 million in 1990 and LSB lost $9.1 million.
1992 Slurry Explosive Corporation is acquired.
The divestiture of assets began in March 1998 with the sale of the company's Tower office building for $31 million, the proceeds earmarked for the paying down of debt.
Overall, LSB showed marked improvement in 2000, growing revenues to $296.2 million and posting a $6.2 million profit.
2000 The Automotive Products unit is sold.
LSB's turnaround continued in 2001, as the emphasis on core businesses began to bear fruit.
In June 2005 LSB announced that it was exploring "numerous alternatives" for the business.
Rate LSB Financial's efforts to communicate its history to employees.
LSB Financial jobs
Do you work at LSB Financial?
Is LSB Financial's vision a big part of strategic planning?
Zippia gives an in-depth look into the details of LSB Financial, including salaries, political affiliations, employee data, and more, in order to inform job seekers about LSB Financial. The employee data is based on information from people who have self-reported their past or current employments at LSB Financial. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by LSB Financial. The data presented on this page does not represent the view of LSB Financial and its employees or that of Zippia.
LSB Financial may also be known as or be related to LSB Financial.