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PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract] |
Condensed Balance Sheets, Parent Company | Condensed financial information for HomeStreet, Inc. is as follows:
Condensed Balance Sheets | At December 31,
(in thousands) | 2021 |  | 2020
Assets: |  |  |
Cash and cash equivalents | $ | 12,756 |  |  | $ | 20,021 |
Other assets | 5,082 |  |  | 7,686 |
Investment in stock of HomeStreet Bank | 779,851 |  |  | 780,531 |
Investment in stock of other subsidiaries | 45,175 |  |  | 36,381 |
Total assets | $ | 842,864 |  |  | $ | 844,619 |
Liabilities: |  |  |
Other liabilities | $ | 1,499 |  |  | $ | 1,031 |
Long-term debt | 126,026 |  |  | 125,838 |
Total liabilities | 127,525 |  |  | 126,869 |
Shareholders' Equity: |  |  |
Common stock, no par value | 249,856 |  |  | 278,505 |
Retained earnings | 444,343 |  |  | 403,888 |
Accumulated other comprehensive income | 21,140 |  |  | 35,357 |
Total shareholder's equity | 715,339 |  |  | 717,750 |
Total liabilities and shareholder's equity | $ | 842,864 |  |  | $ | 844,619 |
Condensed Statements of Income, Parent Company |
Condensed Income Statements | Years Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Noninterest income |  |  |  |  |
Dividend income from HomeStreet Bank | $ | 109,000 |  |  | $ | 82,909 |  |  | $ | 110,000 |
Equity in undistributed income from subsidiaries | 10,801 |  |  | 3,374 |  |  | — |
Distributions in excess of income from subsidiaries | — |  |  | — |  |  | (84,146) |
Other noninterest income | 1,838 |  |  | 1,773 |  |  | 2,293 |
Total revenues | 121,639 |  |  | 88,056 |  |  | 28,147 |
Expenses |  |  |  |  |
Interest expense-net | 4,576 |  |  | 5,731 |  |  | 4,821 |
Noninterest expense | 2,939 |  |  | 4,136 |  |  | 8,437 |
Total expenses | 7,515 |  |  | 9,867 |  |  | 13,258 |
Income before income taxes (benefit) | 114,124 |  |  | 78,189 |  |  | 14,889 |
Income taxes (benefit) | (1,298) |  |  | (1,801) |  |  | (2,623) |
Net income | $ | 115,422 |  |  | $ | 79,990 |  |  | $ | 17,512 |
Condensed Statements of Cash Flows, Parent Company |
Condensed Statements of Cash Flows | Years Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Cash flows from operating activities |  |  |  |  |
Net income | $ | 115,422 |  |  | $ | 79,990 |  |  | $ | 17,512 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities |  |  |  |  |
Undistributed earnings from investment in subsidiaries | (10,801) |  |  | (3,374) |  |  | — |
Distributions in excess or earnings from investment in subsidiaries | — |  |  | — |  |  | 84,146 |
Other | (8,669) |  |  | (4,483) |  |  | (30) |
Net cash provided by operating activities | 95,952 |  |  | 72,133 |  |  | 101,628 |
Cash flows from investing activities: |  |  |  |  |
AFS securities: Principal collections net of purchases | 2,012 |  |  | 2,886 |  |  | 1,049 |
Net cash provided by investing activities | 2,012 |  |  | 2,886 |  |  | 1,049 |
Cash flows from financing activities: |  |  |  |  |
Repurchases of common stock | (84,154) |  |  | (58,009) |  |  | (98,543) |
Proceeds from stock issuance, net | 263 |  |  | 238 |  |  | 105 |
Dividends paid on common stock | (21,338) |  |  | (13,865) |  |  | — |
Net cash used in financing activities | (105,229) |  |  | (71,636) |  |  | (98,438) |
Net (decrease) increase in cash and cash equivalents | (7,265) |  |  | 3,383 |  |  | 4,239 |
Cash and cash equivalents, beginning of year | 20,021 |  |  | 16,638 |  |  | 12,399 |
Cash and cash equivalents, end of year | $ | 12,756 |  |  | $ | 20,021 |  |  | $ | 16,638 |

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