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Homestreet Bank

DSE 2012 Content Nominee - Industry Weapon and Homestreet Bank 1

The content is currently displayed on large flat panel monitors in two recently remodeled branches as well as the corporate headquarters of ...

HomeStreet Announces Partial Sale of Mortgage Servicing Rights

This sale will provide regulatory capital relief to support the continued growth of our Commercial and Consumer Banking business. Risk management results will also be improved through reduced convexity costs in the remaining mortgage servicing rights portfolio. Retaining servicing on most of our mortgage loans we originate and sell is an important part of our mortgage banking strategy to which we remain committed. This strategy has historically been a competitive advantage and these assets have generated strong returns on equity through the cycle.”

The physical transfer of servicing from the Bank is scheduled to be completed by August 16, 2018, and is subject to customary conditions. HomeStreet will continue to service the loans between the closing date and the final transfer date.

Forward-Looking Statements

This press release contains forward-looking statements concerning HomeStreet, Inc. and HomeStreet Bank, and their operations, performance and likelihood of success. All statements other than statements of historical fact are forward-looking statements. In particular, statements regarding the Company’s anticipated future performance and financial condition, including statements regarding the expected improvement of capital ratios and convexity risk, as well as the expected closing of the transaction, which remains subject to certain conditions, are forward looking in nature and are subject to many other factors, including changes in market conditions, that may impact our ability to meet our expectations. Forward-looking statements are based on many beliefs, assumptions, estimates and expectations of our future performance, taking into account information currently available to us, and include statements about the competitiveness of the banking industry. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond HomeStreet’s control. You should consider, among other things, the risk factors included in our periodic reports filed with the Securities and Exchange Commission, including but not limited to our most recent Quarterly Report on Form 10-Q for the second quarter of this year. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date.