Homestreet Stock Price, News & Analysis

HomeStreet, Inc. (Nasdaq: HMST) announced the sale of five retail deposit branches in eastern Washington, closing on July 29, 2022. The transaction resulted in an estimated gain of $4 million. The assets involved included $185 million in deposits, $42 million in loans, and $2 million in other assets.

This strategic decision reflects HomeStreet's ongoing efforts to streamline operations and focus on core banking functions while enhancing overall financial performance.

HomeStreet's hydroplane, driven by Jimmy Shane, clinched victory at the HAPO Columbia Cup held in Tri-Cities, Washington. Shane achieved a remarkable feat by winning all four preliminary heats and setting a new course record with an average speed of 164.039 mph, surpassing the previous record of 163.579 mph. This win continues to solidify HomeStreet's lead in the National High Point standings. The team looks forward to competing for the HomeStreet Bank Cup at the upcoming Seafair Festival in Seattle.

HomeStreet, Inc. (Nasdaq: HMST) announced a quarterly dividend of $0.35 per share, payable on August 23, 2022, to shareholders of record on August 9, 2022. This decision reflects the company's commitment to returning value to shareholders while maintaining a balanced approach to growth and financial health. HomeStreet, headquartered in Seattle, specializes in real estate lending and banking services across the Western United States and Hawaii. The company’s subsidiary, HomeStreet Bank, recently won the 2022 'Best Small Bank' award in Washington.

HomeStreet, Inc. (Nasdaq: HMST) reported its financial results for Q2 2022, with fully diluted EPS at $0.94 and net income of $17.7 million. The loan portfolio grew by 15%, with originations reaching $1.3 billion. Despite challenges from rising interest rates impacting mortgage sales, overall revenues increased by 4%. The company's net interest margin remained stable at 3.27%, and efficiency improved, reducing noninterest expenses by 7%. HomeStreet declared a cash dividend of $0.35 per share and announced the sale of five branches in eastern Washington to focus on metropolitan markets.

HomeStreet, Inc. (NASDAQ: HMST) will hold its quarterly earnings conference call on Tuesday, July 26, 2022, at 1:00 p.m. ET. Mark K. Mason, Chairman, President, and CEO, along with John M. Michel, Executive VP and CFO, will present Q2 2022 results and provide updates on significant events. A Q&A session will follow. Participants can register at this link or join via phone at 1-844-200-6205 (international: 1-929-526-1599) using Access Code 320273.

HomeStreet, Inc. (Nasdaq:HMST) announced the re-election of its Board of Directors at the 2022 annual shareholders’ meeting, effective immediately. Donald Voss has retired as Lead Independent Director. Mark Mason will continue as Chairman and CEO, while Mark Patterson has been appointed as the new Lead Independent Director. Mason expressed gratitude for Voss's contributions and highlighted Patterson's capital markets expertise.

Bank of Idaho Holding Co. (OTC: BOID) has signed a definitive agreement to acquire an Eastern Washington branch network from HomeStreet, Inc. (NASDAQ: HMST), which includes five branches in Spokane, Kennewick, Dayton, Yakima, and Sunnyside. This acquisition enables BOID to expand its footprint and serve more customers while allowing HomeStreet to concentrate on larger metropolitan markets. The transaction is expected to close by August 1, 2022, subject to regulatory approvals. Both companies are committed to ensuring a seamless transition for customers.

HomeStreet, Inc. (NASDAQ: HMST) has declared a $0.35 per share quarterly dividend, payable on May 24, 2022, to shareholders on record as of May 10, 2022. This announcement reflects the company's ongoing commitment to delivering shareholder value. HomeStreet operates primarily in real estate lending and banking services across the Western United States and Hawaii, highlighting its strong market position. For more details, check the investor relations site at ir.homestreet.com.