Homestreet Stock Price, News & Analysis

HomeStreet, Inc. (Nasdaq:HMST) has scheduled its quarterly earnings conference call for April 26, 2022, at 1:00 p.m. ET. CEO Mark K. Mason and CFO John M. Michel will discuss the first quarter 2022 results and recent events, followed by a Q&A session. Interested parties can register for the call or join by phone. The information for the call will be released on the company’s website after market close on April 25, 2022.

HomeStreet, Inc. provides financial services in the Western United States and Hawaii, focusing on real estate lending.

HomeStreet, Inc. (NASDAQ: HMST) has announced an expansion of its share repurchase program, pending regulatory approval, allowing for an additional buyback of up to $75 million in common stock. This initiative follows a $100 million subordinated note offering completed on January 19, 2022. Additionally, the company declared a quarterly dividend of $0.35 per share, marking a 40% increase from the previous quarter. The dividend will be distributed on February 23, 2022, to shareholders of record as of February 9, 2022.

HomeStreet, Inc. (NASDAQ: HMST) has appointed Joanne Harrell to its Board of Directors, enhancing its leadership team. With over 20 years at Microsoft and experience in the non-profit sector, Harrell is expected to provide valuable oversight, especially in Environmental, Social, and Governance (ESG) initiatives. Her background in public-private partnerships positions her well to support HomeStreet's community and ESG goals. The Board aims to strengthen its diversity and expertise with this strategic addition.

HomeStreet, Inc. (Nasdaq:HMST) reported record earnings of $115 million for 2021, with fully diluted earnings per share at $5.46. The company saw strong loan originations totaling $3.3 billion and noninterest-bearing deposits increased by 21%. For Q4 2021, net income rose to $29.4 million from $27.2 million in Q3. The net interest margin was 3.34%. A $100 million subordinated notes offering was completed in January 2022 to enhance growth and share repurchases. HomeStreet will host a quarterly earnings call on January 25, 2022.

HomeStreet, Inc. (Nasdaq: HMST) has priced its offering of $100 million in 3.50% Fixed-to-Floating Rate Subordinated Notes due January 30, 2032. The interest will initially be at 3.50% until January 30, 2027, after which it will switch to a floating rate. Proceeds will primarily be used for stock repurchases and general corporate purposes, supporting asset growth. The offering closes on January 19, 2022, pending regulatory conditions. Keefe, Bruyette & Woods leads the offering, with other co-managers involved.

HomeStreet, Inc. (Nasdaq:HMST) has announced its quarterly earnings conference call to be held on January 25, 2022, at 1:00 p.m. ET. The call will feature insights from CEO Mark K. Mason and CFO John M. Michel, discussing the fourth quarter 2021 results and recent developments. Interested parties can register in advance or dial in to participate. A rebroadcast will be available post-call. HomeStreet, based in Seattle, Washington, primarily engages in real estate lending and banking services across the Western United States and Hawaii.

HomeStreet is launching commercial banking services in Honolulu, Hawaii, expanding their operational footprint after 40 years in retail banking. This move aims to support local businesses with a community banking alternative. Hawaiian native Mel Racadio will lead the new office, leveraging her 30 years of banking experience. HomeStreet celebrates this initiative alongside its 100th anniversary. The company is diversified in financial services, including commercial and residential lending.

HomeStreet Bank announced a matching gift of up to $150,000 to the Seattle Police Foundation to support officer wellness programs in the Seattle area. This initiative comes as the city faces increased violence, with over 100 more shootings compared to the previous year. The bank's CEO, Mark K. Mason, emphasized the importance of public safety and community relationships. Additionally, HomeStreet Bank plans to sponsor National Night Out events to strengthen police-community ties. This support highlights the bank's commitment to enhancing public safety in Seattle.

HomeStreet has achieved a notable milestone by completing its first fully digital loan closing on October 13, utilizing advanced technology from Snapdocs. This positions the bank as one of the pioneering lenders in the U.S. offering a completely digital closing experience, enhancing convenience for customers. The partnership aims to provide a quick, secure, and error-free process for borrowers, removing the traditional barriers of physical presence during notarization. This innovative step reflects HomeStreet's commitment to improving customer experience and streamlining mortgage processes.