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Stock Market & Financial Investment News

News Breaks
December 13, 2012
13:44 EDTHMSTHomeStreet names Martin A. Steele as EVP, Chief Commercial Banking Officer
Steele will manage the company’s Commercial Lending, Cash Management-Treasury Services, and Investment Services activities. Steele was previously CEO of Charter Bank, where he managed the bank’s merger into Boston Private Bank & Trust Company in 2011, continuing as the regional CEO for Boston Private. He has also held senior management positions with Commerce Bank of Washington and Bank of America in the areas of commercial banking, private banking and investment management.
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September 28, 2015
11:25 EDTHMSTHomeStreet to host conference call
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11:05 EDTHMSTHomeStreet to acquire Orange County Business Bank for $55.3M
HomeStreet has entered into a definitive agreement under which it will acquire Orange County Business Bank, a California banking corporation. The proposed transaction was approved by the boards of both companies and is expected to close late in the fourth quarter of 2015 or early in the first quarter of 2016, subject to certain conditions set forth in the merger agreement and the customary closing conditions, including OCBB shareholder and state and federal regulatory approvals. Under the terms of the agreement, HomeStreet will acquire Orange County Business Bank for $11.70 per share, or a total value of $55.3M with $5.5M paid in cash and the remainder in HomeStreet common stock. The merger agreement provides for an adjustment to the number of shares of HomeStreet stock issuable in the transaction if HomeStreet's average closing stock price, as measured during a ten-day trading day period ending on and excluding the fifth day prior to the closing date, falls outside a range of 90% to 115% of the average closing price measured during such a period prior to the signing date.

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