HomeStreet Bank Completes Purchase of AmericanWest Bank’s Dayton, Washington Branch

HomeStreet Bank and its parent company, HomeStreet, Inc. (NASDAQ:HMST), announced today the completion of its previously announced purchase of a retail-deposit branch and certain related assets from Banner Bank, which recently acquired AmericanWest Bank.

The branch, located in Dayton, Washington, adds approximately $25.7 million in deposits and $4.6 million in loans, and increases the bank’s retail deposit branch network to 44 in Washington, Oregon, California and Hawaii. The new branch expands HomeStreet’s footprint in Eastern Washington and will today begin operating as a HomeStreet Bank branch.

“We are happy to welcome the Dayton Branch to our network of branches in Eastern Washington,” said Mark Mason, HomeStreet president and CEO. “The branch staff members have excelled in providing quality customer service to meet the financial needs of the community, and we look forward to continuing and enhancing those relationships in Dayton and the surrounding communities.”

In addition to retail bank branches, including five in Eastern Washington, HomeStreet also operates mortgage loan, residential construction and commercial lending offices in the Western United States.

About HomeStreet, Inc.

Now in its 95th year HomeStreet, Inc. (NASDAQ:HMST) is a diversified financial services company headquartered in Seattle, Washington and is the holding company for HomeStreet Bank, a state-chartered, FDIC-insured savings bank. HomeStreet offers consumer, commercial and private banking services and investment and insurance products in Washington, Oregon and Hawaii, and originates residential and commercial mortgages and construction loans for borrowers located in the Western United States. The bank has consistently received an “outstanding” rating under the federal Community Reinvestment Act (CRA). Additional information on HomeStreet Bank can be found at www.homestreet.com.

Forward-Looking Statements

This press release contains forward-looking statements concerning HomeStreet, Inc. and HomeStreet Bank and their operations, performance, financial conditions and likelihood of success. All statements other than statements of historical fact are forward-looking statements. In particular, statements about the timing and likelihood of the consummation of the acquisition and the successful integration of their employees and customers are forward looking in nature. 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. 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. We caution readers that a number of factors could cause actual results to differ materially from those expressed in, implied or projected by, such forward-looking statements. Among other things, our ability to obtain regulatory approval and our ability to retain the assets and customers related to these branch acquisitions, and our ability to realize the benefits expected from these transactions, may be limited due to future risks and uncertainties including, but not limited to, changes in general economic conditions that impact our markets and our business, actions by the Federal Reserve affecting monetary and fiscal policy, regulatory and legislative actions that may constrain our ability to do business, and the competitive environment. A discussion of the factors that we recognize to pose risk to the achievement of our business goals and our operational and financial objectives more generally is contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014. These factors are updated from time to time in our filings with the Securities and Exchange Commission, and readers of this release are cautioned to review those disclosures in conjunction with the discussions herein.

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