HomeStreet Bank - Banking, Credit Cards, Home Loans & Auto Loans

HomeStreet Bank


As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

CASH FLOWS FROM OPERATING ACTIVITIES

Net income 41,319 58,151 68,946 40,027

Adjustments to reconcile net income to net cash provided by (used in) operating activities

Depreciation, amortization and accretion 14,877 15,667 22,645 24,893
Provision for credit losses 6,100 4,100 750 3,000
Net fair value adjustment and gain on sale of loans held for sale 9,632 (268,104) (218,331) (93,766)
Fair value adjustment of loans held for investment 2,000 (354) (1,030) (107)
Origination of mortgage servicing rights (76,417) (90,520) (78,412) (61,871)
Change in fair value of mortgage servicing rights 27,483 13,280 36,615 (6,711)
Net gain on sale of investment securities (2,406) (2,539) (489) (235)
Net gain on sale of loans originated as held for investment (456) (2,607) (4,600) (1,956)
Net fair value adjustment, gain on sale and provision for losses on other real estate owned 176 1,767 (383) (171)
Loss on disposal of fixed assets 61 253 215 244
Loss on lease abandonment 0 0 5,054 5,096
Net deferred income tax expense (benefit) 16,389 31,490 (2,094) 12,777
Share-based compensation expense 1,060 2,062 2,856 3,361
Bargain purchase gain (7,726) NA NA NA
Origination of loans held for sale (7,265,622) (9,169,488) (7,763,844) (6,075,290)
Proceeds from sale of loans originated as held for sale 7,243,990 9,379,720 8,084,916 6,448,808
Changes in operating assets and liabilities
(Increase) decrease in accounts receivable and other assets (12,151) (60,927) 26,470 (8,030)
(Decrease) increase in accounts payable and other liabilities 10,002 43,255 (19,957) (4,058)
Net cash provided by (used in) operating activities 8,311 (44,794) 159,327 286,011

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of investment securities (247,713) (743,861) (368,071) (189,660)
Proceeds from sale of investment securities 112,259 164,429 397,492 46,081
Principal repayments and maturities of investment securities 36,798 112,245 105,801 106,798
Proceeds from sale of other real estate owned 6,110 5,672 6,105 836
Proceeds from sale of loans originated as held for investment 34,111 153,518 324,745 548,770
Loans purchased from others NA 0 0 (1,953)
Proceeds from sale of mortgage servicing rights 4,325 0 0 65,373
Mortgage servicing rights purchased from others (9) 0 (565) (4)
Capital expenditures related to other real estate owned 0 (720) (57) 0
Origination of loans held for investment and principal repayments, net (476,062) (609,981) (998,638) (1,132,521)
Proceeds from sale of property and equipment 0 1,148 0 808
Purchase of property and equipment (20,560) (24,482) (42,286) (9,724)
Net cash acquired from acquisitions 132,407 122,760 19,285 0
Net cash used in investing activities (418,334) (819,272) (556,189) (565,196)

CASH FLOWS FROM FINANCING ACTIVITIES

Increase in deposits, net 111,906 919,497 309,798 290,152
Proceeds from Federal Home Loan Bank advances 10,618,900 14,734,636 10,972,200 11,729,500
Repayment of Federal Home Loan Bank advances (10,263,900) (14,898,636) (10,861,200) (11,776,000)
Proceeds from federal funds purchased and securities sold under agreements to repurchase 82,204 64,804 875,166 3,511,070
Repayment of federal funds purchased and securities sold under agreements to repurchase (132,204) (64,804) (875,166) (3,492,070)
Proceeds from line of credit draws NA 0 0 30,000
Repayment of line of credit draws NA 0 0 (30,000)
Proceeds from Federal Home Loan Bank stock repurchase 153,657 284,662 187,766 179,789
Purchase of Federal Home Loan Bank stock (158,565) (279,436) (194,058) (178,647)
Proceeds from debt issuance, net 0 63,184 (65) 0
(Payments) proceeds from equity raise, net 0 58,713 (45) 0
Proceeds from stock issuance, net 178 2,713 11 68
Excess tax benefit related to the exercise of stock options 29 NA NA NA
Net cash provided by financing activities 412,205 885,333 414,407 263,862
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 2,182 21,267 17,545 (15,323)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH

Beginning of year 30,502 35,097 56,364 73,909
End of period 32,684 56,364 73,909 58,586
Less restricted cash included in other assets NA 2,432 1,191 604
CASH AND CASH EQUIVALENTS AT END OF YEAR NA 53,932 72,718 57,982

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

Cash paid during the period for

Interest paid 16,647 28,672 42,889 67,552
Federal and state income taxes (refunded) paid, net 11,328 14,441 (21,885) (5,785)

Non-cash activities

Loans held for investment foreclosed and transferred to other real estate owned 4,396 2,056 1,125 455
Loans transferred from held for investment to held for sale 76,178 169,745 419,494 634,205
Loans transferred from held for sale to held for investment 25,668 12,311 100,049 71,584
Ginnie Mae loans recognized with the right to repurchase, net 7,857 6,775 3,534 (1,674)
Simplicity acquisition
Assets acquired, excluding cash acquired 738,279 NA NA NA
Liabilities assumed 718,916 NA NA NA
Bargain purchase gain 7,345 NA NA NA
Common stock issued 124,214 NA NA NA
Receivable from sale of mortgage servicing rights NA 0 0 3,337
Orange County Business Bank acquisition
Assets acquired, excluding cash acquired 0 165,786 0 0
Liabilities assumed 0 141,267 0 0
Goodwill 0 8,360 0 0
Common stock issued 0 50,373 0 0
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
X

You Are Leaving HomeStreet Bank

By choosing “click here to continue” you will be taken to a web site that is not affiliated with HomeStreet Bank and may offer a different privacy policy and level of security. HomeStreet is not responsible for and does not endorse, monitor or guarantee content, availability, viewpoints, products or services that are offered or expressed on other web sites. Furthermore, products offered on other web sites may not be FDIC insured. Thank you.

You are leaving our secured site to send an email. Please be aware this email is not a secure method of communication. Do not use email to send us confidential or sensitive information such as passwords, account numbers or social security numbers. If you need to provide this type of information, use our secure “Contact Us” form or by phone or fax for other secure options.

Return to HomeStreet Bank Click here to continue