HomeStreet Announces Re-election of Board Members and Retirement of Donald Voss as Director, and Appointment of Mark Mason as Chairman, President and Chief Executive Officer and Mark Patterson as Lead Independent Director

Rhea-AI Summary

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.

Positive

• Re-election of the entire Board of Directors indicates strong shareholder confidence.
• Appointment of Mark Patterson as Lead Independent Director brings significant capital markets experience.

Negative

• Retirement of Donald Voss could lead to concerns about continuity in leadership.

SEATTLE--(BUSINESS WIRE)-- HomeStreet, Inc. (“the Company”) (Nasdaq:HMST) today announced that its shareholders re-elected the entire slate of directors recommended by the Company’s Board of Directors (“the Board”) at its 2022 annual shareholders’ meeting, effective at the adjournment of the meeting. The Company also announced the retirement of Donald Voss as a director and Lead Independent Director. The Board also appointed Mark Mason to continue his service as Chairman of the Board and Chief Executive Officer and Mark Patterson to succeed Mr. Voss as Lead Independent Director.

“We are grateful and deeply appreciative of Don Voss’s financial institution experience and steady hand in his service as a board member. Don was excellent as our Lead Independent Director and maintained a truly independent board,” said HomeStreet Chairman, President and Chief Executive Officer Mark Mason. “We look forward to Mark Patterson serving as our Lead Independent Director and welcome his significant capital markets experience in that role.”

About HomeStreet, Inc.

HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington, and the holding company for HomeStreet Bank, a state-chartered, FDIC-insured savings bank. HomeStreet Bank offers consumer and business banking, investment and insurance products and services in Washington, Oregon, Idaho, Hawaii and California. Certain information about our business can be found on our investor relations web site, located at http://ir.homestreet.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220526005526/en/

Chairman, President & Chief Executive Officer

HomeStreet, Inc.

Mark Mason (206) 442-5380

mark.mason@homestreet.com

http://ir.homestreet.com

or

Media Relations

Misty Ford, 206-876-5506

misty.ford@homestreet.com

Source: HomeStreet, Inc.

FAQ

What changes occurred in HomeStreet's Board of Directors?

HomeStreet announced the retirement of Donald Voss as Lead Independent Director and appointed Mark Patterson to succeed him.

What is the significance of the Board re-election for HomeStreet?

The re-election of the Board signifies strong shareholder confidence in the company's leadership and strategic direction.

Who is the current Chairman and CEO of HomeStreet?

Mark Mason continues to serve as the Chairman and Chief Executive Officer of HomeStreet, Inc.

How might the retirement of Donald Voss affect HomeStreet?

Voss's retirement may raise concerns among investors regarding continuity and the potential impact on the Board's effectiveness.