HomeStreet Completes Acquisition
Ticker: MCHB · Form: 8-K · Filed: Dec 31, 2024 · CIK: 1518715
Sentiment: neutral
Topics: acquisition, completion
TL;DR
HomeStreet just closed a deal, details TBD.
AI Summary
HomeStreet, Inc. announced on December 27, 2024, the completion of an acquisition. The filing does not specify the target of the acquisition or any financial details related to the transaction.
Why It Matters
This filing indicates a significant corporate action, the completion of an acquisition, which could impact HomeStreet's business operations and market position.
Risk Assessment
Risk Level: medium — The completion of an acquisition is a significant event that can introduce integration challenges and financial risks.
Key Players & Entities
- HomeStreet, Inc. (company) — Registrant
FAQ
What specific assets or business was acquired by HomeStreet, Inc.?
The filing does not specify the details of the acquisition, only that it has been completed.
What was the financial value of the acquisition?
The filing does not disclose the financial terms or value of the completed acquisition.
Who was the seller or target company in this acquisition?
The identity of the seller or the target company is not provided in this filing.
When did the acquisition officially close?
The acquisition was completed on December 27, 2024, as reported in the filing.
Are there any immediate financial or operational impacts expected from this acquisition?
The filing does not detail any immediate expected impacts from the acquisition.
Filing Stats: 561 words · 2 min read · ~2 pages · Grade level 11.8 · Accepted 2024-12-30 19:13:40
Key Financial Figures
- $990 million — sale, on a servicing retained basis, of $990 million of multifamily commercial real estate l
Filing Documents
- hmst-20241227.htm (8-K) — 30KB
- pressrelease-closeofloansa.htm (EX-99.1) — 6KB
- image_0a.jpg (GRAPHIC) — 24KB
- 0001518715-24-000203.txt ( ) — 196KB
- hmst-20241227.xsd (EX-101.SCH) — 2KB
- hmst-20241227_lab.xml (EX-101.LAB) — 22KB
- hmst-20241227_pre.xml (EX-101.PRE) — 13KB
- hmst-20241227_htm.xml (XML) — 3KB
01 Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets On December 27 and 30, 2024, HomeStreet Bank, a subsidiary of HomeStreet, Inc., a Washington corporation (" HomeStreet " or the "Company") (Nasdaq:HMST), completed the previously announced sale, on a servicing retained basis, of $990 million of multifamily commercial real estate loans, at a price, including the value of the retained servicing, of approximately 92% of the principal balance of the loans. Substantially all of the proceeds from the sale were used to pay down Federal Home Loan Bank borrowings.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure A copy of the press release issued on December 31, 2024 regarding the completion of the loan sale transaction is furnished as Exhibit 99.1 to this report. The information provided pursuant to this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing or other document filed by the Company pursuant to the Exchange Act or the Securities Act except as shall be expressly set forth by specific reference in such filing or document. The information provided pursuant to this Item 7.01 shall instead be deemed "furnished."
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit 99.1 HomeStreet, Inc. press release dated December 31, 2024 Exhibit 104 Cover Page Interactive Data File (embedded within with Inline XBRL) Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 31, 2024 HomeStreet, Inc. By: /s/ John M. Michel John M. Michel Executive Vice President and Chief Financial Officer