Bank, a wholly owned subsidiary of HomeStreet,
Inc. (NASDAQ:HMST), announced that it has expanded its mortgage
operations into California, opening its first mortgage lending office in
Pasadena (Los Angeles County). The new lending center will be managed by
Levy comes to HomeStreet from Wells Fargo, where he was ranked the
company's number one producer in the nation for home purchase loans in
2011 and the top producer for purchase and overall production volume in
Southern California from 2008 to 2012. Levy will initially lead a staff
of six mortgage originators and assistants.
"We believe the Pasadena area offers a strong housing market and economy
and provides HomeStreet with a significant opportunity to expand our
purchase business," said Rich Bennion, executive vice president and
residential lending director for HomeStreet Bank. "We have a very solid
and talented team in place to launch this expansion and represent
HomeStreet's brand of expertise, service and reliability in a new and
Now in its 92nd year, HomeStreet Bank is a diversified
financial services company headquartered in Seattle with 22 retail
branches and 26 stand-alone lending centers in the Pacific Northwest,
Hawaii and Pasadena. The company achieved record closed loan production
of $4.7 billion for 2012 and maintained its number two rank in mortgage
loan production in its home market of Puget Sound (Washington)(1),
second only to Wells Fargo.
For more information on HomeStreet Bank's mortgage programs, visit www.homestreet.com/loans.
(1) Based on combined production of HomeStreet, Inc.
subsidiaries. Source: Marketrac, Dec. 2012.
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
This press release includes forward-looking statements concerning
HomeStreet, Inc. and HomeStreet Bank and their operations, performance
and likelihood of growth and success. All statements other than
statements of historical fact are forward-looking statements. Such
statements are based on our management's beliefs, assumptions, estimates
and expectations of our future performance and involve inherent risks
and uncertainties, many of which are difficult to predict and are
generally beyond the control of the company. A number of factors could
cause actual results to materially differ from those expressed in or
implied by such forward-looking statements. For instance, our ability to
successfully expand our banking operations geographically and across
market sectors, grow our franchise and capitalize on market
opportunities may be limited due to risks and uncertainties including
fluctuations in revenue or costs, the extent of our success in
resolution of troubled assets, changes in competition faced by
HomeStreet Bank, changes in the banking industry, legal and regulatory
changes, changes in the securities markets, general and regional
economic conditions and other factors listed from time to time in our
SEC reports. Forward-looking statements speak only as of the date made,
and we do not undertake to update them to reflect changes or events that
occur after that date.
Terri Silver, VP, Investor Relations & Corporate