For the quarter ended March 2024, HomeStreet (HMST) reported revenue of $41.61 million, down 30.2% over the same period last year. EPS came in at -$0.29, compared to $0.27 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $48.07 million, representing a surprise of -13.44%. The company delivered an EPS surprise of -383.33%, with the consensus EPS estimate being -$0.06.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

HomeStreet (HMST) came out with a quarterly loss of $0.29 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to earnings of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -383.33%. A quarter ago, it was expected that this real estate lender would post earnings of $0.03 per share when it actually produced a loss of $0.12, delivering a surprise of -500%.Over the last four quarters, the company ...

HomeStreet Reports First Quarter 2024 Results SEATTLE –April 30, 2024 – (BUSINESS WIRE) – HomeStreet, Inc. (Nasdaq: HMST) (including its consolidated subsidiaries, the "Company", "HomeStreet" or "we"), the parent company of HomeStreet Bank, today announced the financial results for the quarter ended March 31, 2024. As we present non-GAAP measures in this release, the reader should refer to the non-GAAP reconciliations set forth below under the section "Non-GAAP Financial Measures." | | First quarter 2024 co ...

Wall Street expects a year-over-year decline in earnings on lower revenues when HomeStreet (HMST) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may ...

FORM 10-K ____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ____________________________ For the transition period from to Commission file number: 001-35424 ____________________________ HOMESTREET, INC. (Exact name of registr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ FORM 10-Q ________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ Commission file number: 001-35424 ________________________________ HOMESTREET, INC. ...

HomeStreet, Inc. (NASDAQ:HMST) Q3 2023 Earnings Conference Call October 31, 2023 1:00 PM ET Company Participants Mark Mason - Chief Executive Officer, President & Chairman of the Board John Michel - Chief Financial Officer Conference Call Participants Matthew Clark - Piper Sandler Woody Lay - KBW Timothy Coffey - Janney Montgomery Scott Operator Good afternoon, and thank you for attending today’s Third Quarter 2023 Analyst Earnings Call for HomeStreet Bank. Joining us on this call is Mark Mason, CEO, Presid ...

HomeStreet eet Important Disclosures Forward-Looking Statements Non-GAAP Financial Measures Highlights and Developments • Net income of $2.3 million, or $0.12 per share • Net interest margin of 1.74% • Excluding broker deposits, total deposits decreased $137 million to $5.8 billion • Book value per share of $26.74 and tangible book value per share of $26.18(1) on September 30, 2023 • Net loss of $24.1 million, or $1.28 per share • Core net income of $10.5 million(1), or $0.56 per share • Net interest margin ...

FORM 10-Q ________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 HOMESTREET, INC. (Exact Name of Registrant as Specified in its Charter) 91-0186600 Washington 91-0186600 (State of Incorporation) (I.R.S. Employer Identification Number) 601 Union Street, Suite 2000 Seattle, Washington 98101 98101 (Address of principal executive offices) (Z ...

Financial Data and Key Metrics Changes - The company reported a net loss of $31.4 million or $1.67 per share in Q2 2023, primarily due to a $39.9 million goodwill impairment charge [45] - Core earnings for Q2 2023 were $3.2 million or $0.17 per share, compared to net income of $5.1 million or $0.27 per share in Q1 2023 [45] - Net interest income decreased by $5.9 million from Q1 2023, with a net interest margin decline from 2.23% to 1.93% [26][53] - The effective tax rate for Q2 2023 was 14.2%, significantly impacted by the goodwill impairment charge [27] Business Line Data and Key Metrics Changes - Non-interest income in Q2 2023 remained consistent with Q1, with a 10% increase in single-family lending rate locks offset by a slight decrease in rate lock margin [28] - The ratio of non-performing assets to total assets increased from 15 basis points at March 31, 2023, to 44 basis points at June 30, 2023, primarily due to one customer relationship being designated as non-accrual [28][59] Market Data and Key Metrics Changes - The company experienced a stabilization in deposit levels at the three retail deposit branches acquired in Southern California, with a weighted average cost of deposits at these branches remaining low at 38 basis points as of June 30, 2023 [36] - Home prices have been stable or rising, particularly in West Coast markets, with increased demand for new homes leading to higher land acquisition and project development by builders [37] Company Strategy and Development Direction - The company is focusing on reducing non-essential expenses while maintaining high-quality lending lines of business to prepare for growth once the interest rate environment stabilizes [30] - The strategy includes attracting new deposits and retaining existing ones through promotional certificates of deposit and money market accounts, while managing liquidity and net interest margin [32][54] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating results reflect the adverse impact of historically high increases in short-term interest rates, with expectations for continued margin pressure until rates stabilize [53][56] - The company anticipates a decline in loans held for investment, stable deposits, and slightly increasing non-interest expenses in the near term [40] Other Important Information - The company recorded a goodwill impairment charge of $39.9 million, which is a non-cash charge and does not impact core earnings, cash flows, or liquidity [25] - The accumulated and other comprehensive income balance was negative $101 million, affecting tangible book value per share but not regulatory capital levels [62] - A dividend of $0.10 per share was approved, unchanged from the prior quarter [63] Q&A Session Summary Question: What is the company's outlook on margins and profitability? - Management expects to remain profitable, excluding the goodwill charge, and anticipates some increases in single-family lock volume [70][71] Question: What is the company's strategy regarding deposit ratios? - The company is comfortable operating at current loan-to-deposit ratios and prioritizes managing liquidity and net interest margin over increasing this ratio [76] Question: What are the expected cash flows from the securities portfolio? - The monthly cash flow from the securities portfolio is approximately $40 million to $50 million [100][114] Question: What is the company's approach to non-essential expenses? - Non-essential expenses include advertising and marketing, which can be reduced without significant impact on brand awareness [112]