HomeStreet Announces the Completion of our Previously Announced Sale of Five Eastern Washington Branches and Related Deposits
HomeStreet, Inc. (Nasdaq: HMST) ("HomeStreet"), the parent company of HomeStreet Bank (the "Bank" and together with HomeStreet, the "Company"), today announced that on July 29, 2022 we closed the sale of five retail deposit branches in eastern Washington, including the branches' lending businesses and employees, for an estimated gain of $4 million. The balance of deposits, loans and other assets sold were $185 million, $42 million and $2 million, respectively.
About HomeStreet, Inc.
HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington, serving consumers an businesses in the Western United States and Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. HomeStreet Bank is the winner of the 2022 "Best Small Bank" in Washington Newsweek magazine award. Certain information about our business can be found on our investor relations web site, located at http://ir.homestreet.com. HomeStreet Bank is a member of the FDIC and an Equal Housing Lender.