HomeStreet, Inc. (NASDAQ:HMST) today announced the departure of
Executive Vice President and Chief Financial Officer David E. Hooston,
effective March 31, 2012. Mr. Hooston joined HomeStreet
in August 2009 to assist in turning around the company, which in
February 2012 was recapitalized through an initial public offering.
"David has been an important part of HomeStreet's turnaround team and
capital raise," said CEO and President Mark K. Mason. "He came to this
company with the knowledge and prior experience necessary to turn around
and grow an institution, having accomplished these things previously at
ValiCorp Holdings and Placer Sierra Bancshares. With his help, the
company experienced three consecutive quarters of profitability before
completing our IPO in February 2012. We are grateful for his
contributions and his dedication to the company's success.
"We have begun the search process for a new Chief Financial Officer,"
continued Mr. Mason. "We are pleased that David will assist with the
transition of the new CFO."
"It has been a privilege to work with Mark and the rest of the executive
team throughout the turnaround and recapitalization process," said David
Hooston. "I am confident that HomeStreet will continue its record of
success under Mark's leadership."
About HomeStreet, Inc.
HomeStreet, Inc. (NASDAQ:HMST) is a diversified financial services
company headquartered in Seattle, Washington, and the bank holding
company for HomeStreet Bank, a state-chartered, FDIC-insured savings
bank. HomeStreet Bank offers consumer and business banking, investment
and insurance products and services in Washington, Oregon, Idaho and
This press release includes forward-looking statements concerning
HomeStreet, Inc. and the Bank and their likelihood of success. Such
statements are based on beliefs, assumptions, estimates and expectations
of our future performance and involve inherent risks and uncertainties,
many of which are difficult to predict and are generally beyond the
control of the company. A number of factors could cause actual results
to materially differ from those expressed in or implied by such
forward-looking statements, including fluctuations in revenue or costs,
the extent of our success in resolution of troubled assets, changes in
competition faced by the Bank, changes in the banking industry,
regulatory changes, changes in the securities markets, general economic
conditions and other matters that affect the Company's results of