Call Start: 13:00 January 1, 0000 1:39 PM ET HomeStreet, Inc. (NASDAQ:HMST) Q1 2022 Earnings Conference Call April 26, 2022, 1:00 PM ET Company Participants Mark Mason – Chairman and Chief Executive Officer John Michel – Chief Financial Officer Conference Call Participants Jeff Rulis – D.A. Davidson & Co. Matthew Clark – Piper Sandler Woody Lay – Keefe, Bruyette & Woods Steve Moss – B. Riley Securities Operator Hello, and thank you for attending today's HomeStreet Q1 2022 earnings call. My name is Selena an ...

Financial Performance - Net income for 2021 was $115.4 million, an increase of 44.8% compared to $80.0 million in 2020[123]. - Net interest income rose to $227.1 million in 2021 from $208.7 million in 2020, reflecting a net interest margin increase from 3.13% to 3.38%[125][128]. - Provision for credit losses recorded a recovery of $15.0 million in 2021, compared to a provision of $20.5 million in 2020 due to improved loan portfolio performance[129]. - Noninterest income decreased to $120.0 million in 2021 from $149.4 million in 2020, primarily due to a decline in gain on loan origination and sale activities[130]. - The efficiency ratio improved slightly to 61.9% in 2021 from 61.4% in 2020, reflecting better cost management[120]. - The company reported a return on average equity of 15.9% in 2021, up from 11.3% in 2020, indicating enhanced profitability[120]. - Nonperforming assets decreased to $12.9 million in 2021 from $22.1 million in 2020, showing improved credit quality[120]. - Total noninterest income decreased to $119,975 thousand in 2021 from $149,364 thousand in 2020, reflecting a decline of about 19.6%[211]. Asset and Loan Management - As of December 31, 2021, HomeStreet had total assets of $7.2 billion, loans of $5.7 billion, and deposits of $6.1 billion[14]. - Loans held for investment increased to $5.5 billion in 2021 from $5.2 billion in 2020, while loans held for sale decreased significantly from $361.9 million to $176.1 million[120]. - The total LHFI less allowance for credit losses (ACL) was $5.496 billion at the end of 2021, compared to $5.180 billion at the end of 2020[138]. - Total loan originations increased to $3,279,593 thousand in 2021, up 15.2% from $2,846,270 thousand in 2020[141]. - The ratio of nonperforming assets to total assets remained low at 0.18% as of December 31, 2021, indicating strong asset quality[148]. - The company approved forbearances for 140 loans totaling $176.985 million due to the COVID-19 pandemic, with 99% of commercial and CRE loans having completed their forbearance period[155]. Capital Management - The company’s financial condition and capital position may be adversely affected by uncertainties related to the transition from LIBOR[70]. - The company has maintained capital ratios above regulatory minimums, but future economic changes could decrease these ratios, potentially requiring additional capital raising[46]. - HomeStreet Inc. reported Tier 1 leverage capital of $723,232 thousand with a ratio of 9.94% as of December 31, 2021, exceeding the minimum requirement of 4.0%[167]. - Common equity tier 1 capital for HomeStreet Inc. was $663,232 thousand, representing a ratio of 10.84%, above the minimum requirement of 4.5%[167]. - Total risk-based capital for HomeStreet Inc. stood at $774,695 thousand with a ratio of 12.66%, surpassing the minimum requirement of 8.0%[167]. - The Company maintained a capital conservation buffer of 4.66% as of December 31, 2021, above the required minimum of 2.5%[169]. Regulatory and Compliance Issues - The company faces extensive regulations that increase compliance costs and could lead to significant penalties for noncompliance[54]. - Federal and state banking regulations limit dividends from the bank subsidiary, and the board of directors may not declare cash dividends exceeding retained earnings without regulatory approval[87]. - The transition from LIBOR to alternative indices, such as SOFR, may lead to increased borrowing costs and litigation exposure for the company[67]. - The company is subject to federal and state privacy regulations, which impose obligations to protect confidential information and could result in penalties for non-compliance[82]. Employee and Community Engagement - The employee headcount was 984, with a turnover rate of 24% and a voluntary turnover rate of 21% for the year ended December 31, 2021[16]. - The company achieved a vaccination status of over 80% among employees, supported by wellness credits as an incentive[25]. - The company has established a Diversity Committee to promote opportunities for all employees and combat discrimination[20]. - The company has a commitment to community involvement, allowing employees time off to volunteer and providing financial contributions to organizations where employees are actively involved[26]. Market and Economic Conditions - The company derives a portion of its revenue from residential mortgage lending, which is subject to significant volatility due to interest rate changes and housing inventory shortages[42]. - Changes in monetary policy by the Federal Reserve could adversely impact the company's liquidity and financial condition[60]. - Fluctuations in interest rates can significantly affect the company's profitability, impacting loan demand and interest rate spreads[61]. - Inflationary pressures and increases in market interest rates are expected to affect operations, with higher compensation costs anticipated in 2022[110]. - The company is geographically confined to certain metropolitan areas in the Western United States, making it vulnerable to local economic volatility and natural disasters[48]. Technology and Cybersecurity - Cybersecurity risks continue to pose a threat, with potential for financial losses and reputational damage due to breaches or fraudulent activities[76]. - The company may face challenges in implementing new technology-driven products and services due to limited resources compared to larger competitors[85].

4th Quarter 2021 January 24, 2022 Nasdaq: HMST Important Disclosures Forward-Looking Statements This presentation includes forward-looking statements, as that term is defined for purposes of applicable securities laws, about our industry, our future financial performance, business plans and expectations. These statements are, in essence, attempts to anticipate or forecast future events, and thus subject to many risks and uncertainties. These forward-looking statements are based on our management's current e ...

HomeStreet, Inc. (NASDAQ:HMST) Q4 2021 Earnings Conference Call January 5, 2021 1:00 PM ET Company Participants Mark Mason - Executive Chairman, President & CEO John Michel - EVP & CFO Conference Call Participants Jeff Rulis - D.A. Davidson & Co. Woody Lay - KBW Steve Moss - B. Riley Securities Matthew Clark - Piper Sandler Operator Good day, and welcome to the HomeStreet Fourth Quarter Twenty Twenty One Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s prese ...

Commission file number: 001-35424 ________________________________ 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, 2021 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from _____ to _____ HOMESTREET, INC. ...

3rd Quarter 2021 October 25, 2021 Nasdaq: HMST Important Disclosures Forward-Looking Statements This presentation includes forward-looking statements, as that term is defined for purposes of applicable securities laws, about our industry, our future financial performance, business plans and expectations. These statements are, in essence, attempts to anticipate or forecast future events, and thus subject to many risks and uncertainties. These forward-looking statements are based on our management's current e ...

HomeStreet, Inc. (NASDAQ:HMST) Q3 2021 Earnings Conference Call October 26, 2021 1:00 AM ET Company Participants Mark Mason - Executive Chairman, President & CEO John Michel - EVP & CFO Conference Call Participants Jeff Rulis - D.A. Davidson & Co. Steve Moss - B. Riley Securities Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help you navigate the audio should the corresponding text be unclear. ...

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: June 30, 2021 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. (a W ...

HomeStreet, Inc. (NASDAQ:HMST) Q2 2021 Earnings Conference Call July 27, 2021 1:00 PM ET Company Participants Mark Mason - Executive Chairman, President & CEO John Michel - EVP & CFO Conference Call Participants Stephen Moss - B. Riley Securities Jeff Rulis - D.A. Davidson & Co. Matthew Clark - Piper Sandler & Co. Jackie Bohlen - KBW Timothy Coffey - Janney Montgomery Scott Operator Good day, and welcome to the HomeStreet Second Quarter 2021 Earnings Conference Call. [Operator Instructions]. Please note, th ...

Nasdaq: HMST 2nd Quarter 2021 July 26, 2021 Important Disclosures Forward-Looking Statements This presentation includes forward-looking statements, as that term is defined for purposes of applicable securities laws, about our industry, our future financial performance, business plans and expectations. These statements are, in essence, attempts to anticipate or forecast future events, and thus subject to many risks and uncertainties. These forward-looking statements are based on our management's current expe ...