XML 40 R27.htm IDEA: XBRL DOCUMENT v3.24.0.1
PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED)
 12 Months Ended
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 SheetsAt December 31,
(in thousands)20232022
Assets:
Cash and cash equivalents$21,541 $5,804 
Other assets4,515 4,601 
Investment in stock of HomeStreet Bank737,748 752,211 
Investment in stock of other subsidiaries1,857 26,954 
Total assets$765,661 $789,570 
Liabilities:
Other liabilities$2,508 $3,019 
Long-term debt224,766 224,404 
Total liabilities227,274 227,423 
Shareholders' Equity:
Common stock, no par value229,889 226,592 
Retained earnings395,357 435,085 
Accumulated other comprehensive income (loss)(86,859)(99,530)
Total shareholder's equity538,387 562,147 
Total liabilities and shareholders' equity$765,661 $789,570 
 
Condensed Income StatementsYears Ended December 31,
(in thousands)202320222021
Noninterest income
Dividend income $39,000 $51,000 $109,000 
Equity in undistributed income from subsidiaries(55,832)24,898 10,801 
Other noninterest income2,085 2,053 1,838 
Total revenues(14,747)77,951 121,639 
Expenses
Interest expense-net8,094 8,315 4,576 
Noninterest expense8,176 6,123 2,939 
Total expenses16,270 14,438 7,515 
Income (loss) before income taxes (benefit)
(31,017)63,513 114,124 
Income taxes (benefit)(3,509)(3,027)(1,298)
Net income (loss)$(27,508)$66,540 $115,422 
Condensed Statements of Cash FlowsYears Ended December 31,
(in thousands)202320222021
Cash flows from operating activities
Net income (loss)$(27,508)$66,540 $115,422 
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Undistributed earnings from investment in subsidiaries55,832 (24,898)(10,801)
Other(480)6,386 (8,669)
Net cash provided by operating activities27,844 48,028 95,952 
Cash flows from investing activities:
AFS securities: Principal collections net of purchases210 831 2,012 
Investments in subsidiaries— (52,000)— 
Net cash provided by (used in) investing activities210 (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 equivalents15,737 (6,952)(7,265)
Cash and cash equivalents, beginning of year5,804 12,756 20,021 
Cash and cash equivalents, end of year$21,541 $5,804 $12,756