HomeStreet Bank
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | 1921 |
| Founder | W. Walter Williams |
| Headquarters | Seattle , United States |
Area served | Washington, Oregon, California, Hawaii |
| Products | Banking services |
HomeStreet, Inc., operating under the name HomeStreet Bank, primarily serves the states of Washington, Oregon, California, and Hawaii. The institution was originally established in 1921 as Continental Mortgage and Loan Company by W. Walter Williams. It underwent a name change to Continental Savings Bank in 1986 before adopting the HomeStreet Bank identity in 2000. The company’s main office is located in Seattle, Washington.
After experiencing considerable financial setbacks during the 2008 economic downturn, HomeStreet secured $89 million through an initial public offering in 2012 to comply with regulatory capital standards, which marked the end of four generations of Williams family leadership. In 2018, the bank successfully resisted an effort by a hedge fund to nominate its own candidates for the board of directors.
In November 2018, HomeStreet revealed its intention to acquire the San Marcos retail branch and business lending division of Silvergate Bank, with the transaction anticipated to conclude in early 2019. During the COVID-19 crisis, the bank halted its $27 million stock repurchase initiative in March 2020.