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HomeStreet Bank Increases Minimum Wage Company-Wide

HomeStreet made the decision to increase its minimum wage in order to share the tax reform benefits with its employees. The change is particularly welcome as the cost of living continues to increase across the country.

“We’re dedicated to the incredible people who work at HomeStreet,” said Mark Mason, president and CEO of HomeStreet Bank. “We’re grateful to be in a position where we’re able to raise our minimum wage and reward our hardworking employees for the great work they do every day.”

The new policy will affect all non-commission employees. The increase to $15 per hour more than doubles the current U.S. federal minimum wage of $7.25 per hour.

For nearly 100 years, HomeStreet Bank has maintained a shared goal across teams and regions to be the preferred and trusted provider of financial services. HomeStreet Bank offers consumer and commercial banking, mortgage lending and loans for residential construction, commercial real estate financing, investment and insurance products and services in the Pacific Northwest, California and Hawaii. For more information on HomeStreet and the services it provides, visit www.homestreet.

HomeStreet appoints Mark R. Patterson to board of directors

Patterson previously served as managing director and equity analyst of NWQ Investment Management Co. from 1997 until his retirement in 2014, where he oversaw NWQ’s financial services sector investments. He also has previously served as director of FBR & Co. from 2015 until the company’s sale in 2017, serving on its audit and compensation committees.

Before joining NWQ, Patterson was at U.S. Bancorp from 1989 to 1997, serving in a variety of roles including vice president of investor relations, where he was a primary contact between the company and the investment community.

“Mark will bring to our board the perspective of a sophisticated institutional investor, as well as significant banking sector experience,” said Scott M. Boggs, lead independent director of HomeStreet. “We have known Mark for years and have previously had discussions with him about the company’s strategy and board composition. As we engaged with Mark, it became clear that his unique combination of investing and sector expertise – in addition to his experience having served on the board of a public financial services company – made him an ideal fit as we execute our strategy.”