HomeStreet, Inc.

HomeStreet, Inc.

HomeStreet, Inc.

Overview
Date Founded

1921

Headquarters

601 Union Street, Suite 2000, Seattle, WA, 98101, USA

Type of Company

Public

Employees (Worldwide)

2,419

Industries

Retail & Commercial Banking

Company Description

HomeStreet, Inc. is a holding company, which engages in the provision of financial services through HomeStreet Bank. It operates through the Commercial and Consumer Banking, and Mortgage Banking segments. The Commercial and Consumer Banking segment offers financial products and services to its commercial and consumercustomers through bank branches and through automated teller machines (ATMs) and online, mobile, and telephone banking. The Mortgage Banking segment originates and purchases single family mortgage loans for sale in the secondary markets. The company was founded on August 17, 1921 and is headquartered in Seattle, WA.

Contact Data
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Executives & Employees

Chairman, Chief Executive Officer & President

Executive Vice President & Chief Financial Officer

Chief Investment Officer & Treasurer

Executive Vice President, General Counsel, Chief Administrative Officer & Corporate Secretary

Executive Vice President & Chief Risk Officer

Executive Vice President & Chief Credit Officer

Executive Vice President & Head-Commercial Real Estate

Senior Vice President & Single Family Lending Operations Director of the Bank

Executive Vice President & Human Resources Director of the Bank

Senior Executive Vice President & Mortgage Lending Director of Bank

Board of Directors

Chief Executive Officer, Private Client Services at Russell Investment Management LLC

President & Managing Member at Miller & Smith, Inc.

Former Vice President & Corporate Controller at Microsoft Corporation

Former President at University of Washington Alumni Association

Former Analyst at FBR Capital Markets & Co.

Professional at Ederer Investment Company

Former Partner at The Goldman Sachs Group, Inc.

Former Executive Vice President & Manager-Banking Division at First Interstate Bank (Billings, Montana)

Former President, Chief Executive & Credit Officer at San Diego Community Bank

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Owners & Shareholders
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NWQ Investment Management (NWQ) is a value manager that offers a variety of investment strategies including: large-cap value, special equity, concentrated equity, small/mid-cap value, small-cap value, balanced, core fixed-income and alternative investments. The firm's investment approach is based on bottom-up, fundamental research that seeks to identify potential investments that are trading at attractive absolute valuations. They strive to capitalize on disparities between investor perceptions and underlying fundamentals in the capital markets. NWQ's approach is finance-oriented and cash flow-focused. Their strategies focus on attractive valuations, downside protection and the identification of catalysts and inflection points.

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Roaring Blue Lion Capital Management focuses on investments in the stocks of US companies. They also manage a global macro hedge fund. Roaring Blue Lion Capital Management's investments do not target any specific industry.

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Investment Counselors of Maryland (ICM) offers clients value investment solutions across the market-cap spectrum. In doing so, the firm utilizes two distinct investment processes. Both approaches employ a value-oriented investment method with a focus on fundamental analysis. ICM attempts to measure the value of a security by looking at economic and financial factors including the overall economy, industry conditions, and the financial condition and management of the company itself, to determine if the company is underpriced or overpriced. These two strategies include: Small Cap, SMID Cap & Mid-Cap Value and Large Cap Value.In selecting investments for their Small Cap, SMID Cap & Mid-Cap Value strategies, ICM seeks to invest in companies that they estimate to be undervalued that also possess leading market share positions, shareholder-oriented management teams, and strong balance sheets and cash flow ratios. Usually, the shares of the companies they buy are selling at a price-to-earnings ratio below the average price-to-earnings ratio of the stocks in the broad capitalization-specific indices (i.e. Russell 2000 , Russell 2500 and Russell Midcap). The companies usually have higher return-on-equity and return-on-capital than the average company in those same indices. Using screening parameters such as price-to-earnings, relative return-on-equity and other financial ratios, ICM screens the universe of investments to identify potentially undervalued securities. They further narrow the list of potential investments through traditional fundamental security analysis. For their Large Cap Value strategy, ICM seeks to identify companies that are well-capitalized with sustainable competitive advantages and strong management teams. Using various screening parameters, they seek to identify potentially undervalued securities. ICM further narrows the list of potential investments through traditional fundamental security analysis. Investment are chosen once ICM is convinced the securities are undervalued and after they have attempted to discover a positive inflection point in the company’s business momentum. ICM's primary focus is to confirm the competitive position of the company and that it is sufficiently undervalued based on historical valuation parameters, given their projected estimates for earnings and free-cash-flow.

Recent Transactions
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HomeStreet Bank, HomeStreet, Inc. purchase Opus Bank /El Cajon Branch from Opus Bank

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HomeStreet, Inc., HomeStreet Bank purchase Boston Private Bank & Trust Co. /Branches (2) from Boston Private Financial Holdings, Inc.

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HomeStreet, Inc., HomeStreet Bank purchase Bank of Oswego, Inc. /2 Branches from The Bank of Oswego

Insider Transactions
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Transaction Advisors
Legal Advisor

Advised onHomeStreet, Inc. purchases Simplicity Bancorp, Inc.

Investment Advisor

Advised onHomeStreet, Inc. purchases Simplicity Bancorp, Inc.

Escrow Agent

Advised onHomeStreet, Inc. issued Common Stock

Legal Advisor

Advised onHomeStreet, Inc. purchases Simplicity Bancorp, Inc.

Legal Advisor

Advised onHomeStreet, Inc. issued Common Stock

Associate

Advised onHomeStreet, Inc. issued Common Stock

Clients

Federal National Mortgage Association is a government-sponsored company, which engages in the provision of liquidity for purchases of homes and financing of multifamily rental housing ang refinancing existing mortgages. It operates through the Single-Family and Multifamily segments. The Single-Family segment offers liquidity to the mortgage market and increase the availability and affordability of housing for single families. The Multifamily segment includes guaranty fees on the mortgage and on the multifamily mortgage loans. The company was founded in 1938 and is headquartered in Washington, DC.

Freddie Mac was chartered by Congress in 1970 with a public mission to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market. We participate in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities, principally those we call PCs. The secondary mortgage market consists of institutions engaged in buying and selling mortgages in the form of whole loans (i.e., mortgages that have not been securitized) and mortgage-related securities. We do not lend money directly to homeowners.

The Government of the United States of America is the federal government of the republic of fifty states that constitute the United States, as well as one capital district, and several other territories. The federal government is composed of three distinct branches: legislative, executive and judicial, whose powers are vested by the U.S. Constitution in the Congress, the President, and the federal courts, including the Supreme Court, respectively.

Key Stats and Financials As of 2017
Market Capitalization
$755M
Total Enterprise Value
$1.85B
Earnings Per Share
$2.54
Revenue
$540M
Net Profit
$69M
Total Debt
$1.1B
Total Equity
$704M
Enterprise Value Sales
3.42x
TEVNet Income
26.76x
Debt TEV
0.6x
Three Year Compounded Annual Growth Rate Of Revenue
18.06%
Five Year Compounded Annual Growth Rate Of Revenue
10.2%
Suppliers
Fannie Mae Accounting & Financial Services | Washington, DC

Federal National Mortgage Association is a government-sponsored company, which engages in the provision of liquidity for purchases of homes and financing of multifamily rental housing ang refinancing existing mortgages. It operates through the Single-Family and Multifamily segments. The Single-Family segment offers liquidity to the mortgage market and increase the availability and affordability of housing for single families. The Multifamily segment includes guaranty fees on the mortgage and on the multifamily mortgage loans. The company was founded in 1938 and is headquartered in Washington, DC.

Black Knight, Inc. Holding Companies | Jacksonville, FL

Black Knight, Inc. engages in the provision of software, data and analytics solutions. It operates through the Software Solutions, and Data and Analytics. The Software Solutions segment offers software and hosting solutions that support loan servicing, loan origination and settlement services. The Data and Analytics segment refers to the data and analytics solutions to the mortgage, real estate and capital markets verticals. The company was founded on February 3, 2017 and is headquartered in Jacksonville, FL.

Mapfre, S.A. Other Insurance Services | Majadahonda, MA

Mapfre SA is a holding company, which engages in the insurance, reinsurance, financial, real estate, and service activities. It operates through the following business segments: Life Direct Insurance, Automobile Direct Insurance, Others Non-Life Direct Insurance, Life and Non-Life Accepted Reinsurance, and Other Activities. The company products includes individuals, professionals, and companies insurance. Mapfre was founded on May 16, 1933 and is headquartered in Majadahonda, Spain.

Competitors
Hilltop Holdings, Inc. Retail & Commercial Banking - Dallas, TX

Hilltop Holdings, engages in the provision of business and consumer banking services through PlainsCapital Bank. It operates through the following segments: Banking, Broker-Dealer, Mortgage Origination, and Insurance. The Banking segment includes business banking, personal banking, and wealth and investment management. The Broker-Dealer segment includes the following lines of business: public finance, capital markets, retail, structured finance, clearing services, and securities lending. The Mortgage Origination segment, through the Bank's subsidiary, PrimeLending, handles loan processing, underwriting and closings in-house. The Insurance segment operates through NLC, which provides fire and limited homeowners insurance for low value dwellings and manufactured homes. The company was founded in July 1998 and is headquartered in Dallas, TX.

Wintrust Financial Corp. Holding Companies - ROSEMONT , IL

Wintrust Financial Corp. operates as a bank holding company, which engages in the provision of banking and financial services. It operates through the following segments: Community Banking, Specialty Finance, and Wealth Management. The Community Banking segment offers personal and commercial banking services such as equities, consumer and mortgage loans, safe deposits, savings and checking accounts, and automated teller machines. The Specialty Finance segment includes commercial and life insurance premiums. The Wealth Management segment provides services in asset brokerage, trust and investment, and asset management. The company was founded by Edward Joseph Wehmer on December 30, 1992 and is headquartered in Rosemont, IL.

Fidelity Southern Corp. Holding Companies - Atlanta, GA

Fidelity Southern Corp. operates as a bank holding company, which through its subsidiaries Fidelity Bank and LionMark, engages in the provision of banking services and trust and wealth management services and credit-related insurance products. It attracts deposits from individuals and businesses and using these deposits and borrowed funds to originate commercial, residential mortgage, construction and installment loans. The company was founded by W. Clyde Shepherd Jr. and Robert J. Rutland on August 3, 1979 and is headquartered in Atlanta, GA.