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.
The HMST news page on Stock Titan provides an archive of news and corporate communications related to HomeStreet, Inc., a diversified financial services company that historically traded on the Nasdaq Global Select Market under the ticker HMST. HomeStreet’s disclosures describe it as headquartered in Seattle, Washington and serving consumers and businesses in the Western United States and Hawaii, with principal activities in real estate lending, mortgage banking, and commercial and consumer banking through HomeStreet Bank.
News items for HMST include earnings releases that discuss quarterly and annual financial results, non-GAAP financial measures, credit quality metrics and strategic actions such as loan sales and balance sheet repositioning. For example, HomeStreet has reported on the sale of multifamily commercial real estate loans and the impact of such transactions on funding costs, liquidity and net interest margin.
A major theme in the HMST news record is the strategic merger with Mechanics Bank. Joint press releases and subsequent updates describe the Agreement and Plan of Merger, regulatory approvals, shareholder votes, and the completion of the merger on September 2, 2025. These items explain that HomeStreet Bank merged with and into Mechanics Bank, that the holding company changed its name to Mechanics Bancorp, and that its Class A common stock began trading under the symbol MCHB.
Investors reviewing HMST news can see how HomeStreet communicated its strategic plan, including loan portfolio sales, noninterest expense management and the rationale for combining with Mechanics Bank. The archive also reflects regulatory and shareholder milestones, such as the effectiveness of a registration statement on Form S-4 and the approval of merger-related proposals at a special meeting of shareholders.
Because the HMST ticker transitioned to MCHB in connection with the merger, this news page serves primarily as a historical record of HomeStreet’s standalone operations and its transformation into Mechanics Bancorp.
HomeStreet, Inc. (HMST) reported strong financial results for Q3 2020, posting a net income of $26.3 million, up from $18.9 million in Q2 2020. Earnings per diluted share rose to $1.15 compared to $0.81 in the previous quarter. The net interest margin increased to 3.20%, while return on average assets climbed to 1.40%. Loan originations fell by 27% but deposits increased by 3%. HomeStreet repurchased 1,018,772 shares in Q3 and declared a cash dividend of $0.15 per share, reaffirming its strong position despite pandemic challenges.
HomeStreet, Inc. (Nasdaq: HMST) has announced the reorganization of its Fannie Mae Delegated Underwriting and Servicing (DUS) business, effective September 30, 2020. This move transfers the origination, sale, and servicing of multifamily mortgages from HomeStreet Capital to HomeStreet Bank. The consolidation is expected to leverage the Bank’s capital resources, allowing for larger loan offerings and improved service to clients. HomeStreet has been active in the DUS program since 1988 and remains one of 23 authorized lenders in the U.S.
HomeStreet, Inc. (Nasdaq:HMST) will host its quarterly earnings conference call on October 27, 2020, at 1:00 p.m. EDT. Chairman and CEO Mark K. Mason and CFO John M. Michel will present Q3 2020 results and address recent developments. Following the presentation, there will be a Q&A session for shareholders and analysts.
Interested parties can register in advance or join by calling in. A rebroadcast will be available one hour post-call. Further details on the call will be accessible on the company's investor relations website after market close on October 26, 2020.
HomeStreet, Inc. (Nasdaq: HMST) has announced the appointment of David Parr as Executive Vice President and Director of Commercial Banking. In this role, Parr will oversee the Bank’s commercial lending operations across Washington, Oregon, California, and Hawaii. Mark K. Mason, the CEO, praised Parr's leadership and achievements, highlighting his 15 years of consecutive President’s Club recognition. Parr is an alumnus of Western Washington University and serves on multiple boards, showcasing his commitment to community and banking education.