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PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED) | PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED): Condensed financial information for HomeStreet, Inc. is as follows:
Condensed Balance Sheets | At December 31,
(in thousands) | 2023 |  | 2022
Assets: |  |  |
Cash and cash equivalents | $ | 21,541 |  |  | $ | 5,804 |
Other assets | 4,515 |  |  | 4,601 |
Investment in stock of HomeStreet Bank | 737,748 |  |  | 752,211 |
Investment in stock of other subsidiaries | 1,857 |  |  | 26,954 |
Total assets | $ | 765,661 |  |  | $ | 789,570 |
Liabilities: |  |  |
Other liabilities | $ | 2,508 |  |  | $ | 3,019 |
Long-term debt | 224,766 |  |  | 224,404 |
Total liabilities | 227,274 |  |  | 227,423 |
Shareholders' Equity: |  |  |
Common stock, no par value | 229,889 |  |  | 226,592 |
Retained earnings | 395,357 |  |  | 435,085 |
Accumulated other comprehensive income (loss) | (86,859) |  |  | (99,530) |
Total shareholder's equity | 538,387 |  |  | 562,147 |
Total liabilities and shareholders' equity | $ | 765,661 |  |  | $ | 789,570 |
Condensed Income Statements | Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Noninterest income |  |  |  |  |
Dividend income | $ | 39,000 |  |  | $ | 51,000 |  |  | $ | 109,000 |
Equity in undistributed income from subsidiaries | (55,832) |  |  | 24,898 |  |  | 10,801 |
Other noninterest income | 2,085 |  |  | 2,053 |  |  | 1,838 |
Total revenues | (14,747) |  |  | 77,951 |  |  | 121,639 |
Expenses |  |  |  |  |
Interest expense-net | 8,094 |  |  | 8,315 |  |  | 4,576 |
Noninterest expense | 8,176 |  |  | 6,123 |  |  | 2,939 |
Total expenses | 16,270 |  |  | 14,438 |  |  | 7,515 |
Income (loss) before income taxes (benefit) | (31,017) |  |  | 63,513 |  |  | 114,124 |
Income taxes (benefit) | (3,509) |  |  | (3,027) |  |  | (1,298) |
Net income (loss) | $ | (27,508) |  |  | $ | 66,540 |  |  | $ | 115,422 |
Condensed Statements of Cash Flows | Years Ended December 31,
(in thousands) | 2023 |  | 2022 |  | 2021
Cash flows from operating activities |  |  |  |  |
Net income (loss) | $ | (27,508) |  |  | $ | 66,540 |  |  | $ | 115,422 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities |  |  |  |  |
Undistributed earnings from investment in subsidiaries | 55,832 |  |  | (24,898) |  |  | (10,801) |
Other | (480) |  |  | 6,386 |  |  | (8,669) |
Net cash provided by operating activities | 27,844 |  |  | 48,028 |  |  | 95,952 |
Cash flows from investing activities: |  |  |  |  |
AFS securities: Principal collections net of purchases | 210 |  |  | 831 |  |  | 2,012 |
Investments in subsidiaries | — |  |  | (52,000) |  |  | — |
Net cash provided by (used in) investing activities | 210 |  |  | (51,169) |  |  | 2,012 |
Cash flows from financing activities: |  |  |  |  |
Repurchases of common stock | — |  |  | (75,000) |  |  | (84,154) |
Proceeds from exercise of stock options | — |  |  | — |  |  | 263 |
Proceeds from issuance of long-term debt | — |  |  | 98,036 |  |  | — |
Dividends paid on common stock | (12,317) |  |  | (26,847) |  |  | (21,338) |
Net cash used in financing activities | (12,317) |  |  | (3,811) |  |  | (105,229) |
Net increase (decrease) in cash and cash equivalents | 15,737 |  |  | (6,952) |  |  | (7,265) |
Cash and cash equivalents, beginning of year | 5,804 |  |  | 12,756 |  |  | 20,021 |
Cash and cash equivalents, end of year | $ | 21,541 |  |  | $ | 5,804 |  |  | $ | 12,756 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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