Welcome to our dedicated page for HomeStreet news (Ticker: $HMST), a resource for investors and traders seeking the latest updates and insights on HomeStreet stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect HomeStreet's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of HomeStreet's position in the market.
FirstSun Capital Bancorp and HomeStreet, Inc. have amended their merger agreement, increasing the total equity capital raised by $45 million to $60 million. The revised exchange ratio provides HomeStreet shareholders with 0.3867 shares of FirstSun common stock for each share of HomeStreet common stock. The ongoing banking operations will transition to a Texas state charter, with Sunflower Bank converting to a Texas state chartered bank. FirstSun will issue $48.5 million of subordinated debt, while HomeStreet will dispose of approximately $300 million of certain Commercial Real Estate loans. The merger is subject to approval from the Federal Reserve Board and the Texas Department of Banking.
HomeStreet, Inc. (Nasdaq: HMST) reported a net loss of $7.5 million in the first quarter of 2024, compared to $3.4 million in the fourth quarter of 2023. Loss per fully diluted share was $0.40, an increase from $0.18. Noninterest-bearing deposits increased by $5 million, total deposits excluding brokered deposits increased by $25 million, and uninsured deposits were $494 million. Loans held for investment remained stable, nonperforming assets to total assets ratio was 0.56%, and allowance for credit losses to LHFI was 0.54%. Book value per share was $27.96, and tangible book value per share was $27.49.
