HomeStreet, Inc. - HMST STOCK NEWS

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.

HomeStreet, Inc. (Nasdaq:HMST) reported first-quarter 2022 results, with net income decreasing to $20 million from $29.4 million in the previous quarter. Fully diluted EPS stands at $1.01, down from $1.43. Loan originations reached $747 million, and loans held for investment increased by $331 million. The efficiency ratio worsened to 77.0% from 62.2%. Notably, the company repurchased 1.47 million shares and increased its dividend by 40% to $0.35 per share. Despite recent declines, management anticipates future earnings growth due to strong loan pipelines and net interest income improvements.

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.