Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  HomeStreet Inc    HMST

News SummaryMost relevantAll newsSector newsTweets 

HomeStreet Inc : HomeStreet Expands Mortgage Business into California

share with twitter share with LinkedIn share with facebook
share via e-mail
02/26/2013 | 09:25pm CET

HomeStreet 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 Rob Levy.

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 exciting market."

Now in its 92nd year, HomeStreet Bank is a diversified financial services company headquartered in Seattle with 22retail 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 California. http://ir.homestreet.com.

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.

HomeStreet, Inc.
Terri Silver, VP, Investor Relations & Corporate Communications

© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HOMESTREET INC
01/30 HOMESTREET, INC. (NASDAQ : HMST) Files An 8-K Regulation FD Disclosure
01/30 HOMESTREET, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (..
01/26 HOMESTREET INC. : Announces Finalization of Settlement Agreement with Securities..
01/25 HOMESTREET, INC. (NASDAQ : HMST) Files An 8-K Results of Operations and Financia..
01/24 HOMESTREET : Mortgage Staff, Servicing Up
01/23 HOMESTREET, INC. : Results of Operations and Financial Condition, Financial Stat..
01/23 HOMESTREET : INSERTING and REPLACING HomeStreet, Inc. Reports Year-End and Fourt..
01/21 HOMESTREET : Hires Commercial Banking Market Presidents for Northern California ..
01/20 HOMESTREET : pays $500,000 to settle SEC charges
01/20 HOMESTREET, INC. (NASDAQ : HMST) Files An 8-K Entry into a Material Definitive A..
More news
Sector news : Banks - NEC
05:05p Bonus squeeze as Europe's investment banks feel investor ire
03:57pDJBARCLAYS : Swings to Profit as Sweeping Overhaul Nears End -- 3rd Update
03:54p CANADIAN IMPERIAL BANK OF COMMERCE : CIBC vows 'disciplined' approach to Private..
03:11pDJDow Industrials Poised to Extend Gains
02:58p Insurer RSA shows resilience after failed Zurich bid
More sector news : Banks - NEC
News from SeekingAlpha
02/09 VALUATION DASHBOARD : Financials And Real Estate - Update
01/25 Earnings, Revenue Beat Rates + Best And Worst Stocks On Earnings
01/24 HomeStreet's (HMST) CEO Mark Mason on Q4 2016 Results - Earnings Call Transcr..
01/23 HomeStreet beats by $0.03
01/22 Notable earnings after Monday?s close
Financials ($)
Sales 2017 575 M
EBIT 2017 87,3 M
Net income 2017 61,7 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 12,04
P/E ratio 2018 9,95
Capi. / Sales 2017 1,28x
Capi. / Sales 2018 1,17x
Capitalization 733 M
More Financials
Duration : Period :
HomeStreet Inc Technical Analysis Chart | HMST | US43785V1026 | 4-Traders
Full-screen chart
Technical analysis trends HOMESTREET INC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 31,2 $
Spread / Average Target 14%
Consensus details
EPS Revisions
More Estimates Revisions
Mark K. Mason Chairman, President & Chief Executive Officer
Melba Bartels Chief Financial Officer & Senior Executive VP
David A. Ederer Chairman-Emeritus
Scott M. Boggs Independent Director
Victor H. Indiek Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
JPMORGAN CHASE & CO.5.47%325 837
WELLS FARGO & CO5.70%293 102
More Results