HomeStreet, Inc. announced that Executive Vice President and Chief Financial Officer Mark R. Ruh has tendered his resignation from HomeStreet, effective June 5, 2020. In connection with his resignation, the Company has entered into a Resignation and Release Agreement that provides, among other things, for severance payments to be made to Mr. Ruh in exchange for certain releases from Mr. Ruh. Mr. Ruh has also provided assurances that he will assist in a smooth transition to the next Chief Financial Officer, and has agreed to allow HomeStreet to elect to extend his tenure with the Company if necessary until a date not later than September 11, 2020.

In addition, if a new Chief Financial Officer is identified and appointed by HomeStreet prior to June 5, 2020, Mr. Ruh has agreed to relinquish his title and stay on to assist in the transition.