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Stock Market & Financial Investment News

News Breaks
December 28, 2012
08:01 EDTHMSTHomeStreet announces termination of MOU
HomeStreet Bank, a wholly owned subsidiary of HomeStreet, Inc., has been notified by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions that its Memorandum of Understanding was terminated effective December 27. The Memorandum of Understanding, dated March 26, required, among other things, the maintenance of a minimum Tier 1 capital ratio of 9%, a plan to reduce adversely classified assets to levels to be established by mutual agreement with the regulators, and a restriction on payment of dividends from the Bank to HomeStreet. The Bank is no longer required to comply with these items.
News For HMST From The Last 14 Days
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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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