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PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2024
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) | 2024 |  | 2023
Assets: |  |  |
Cash and cash equivalents | $ | 22,855 |  |  | $ | 21,541 |
Other assets | 5,433 |  |  | 4,515 |
Investment in stock of HomeStreet Bank | 598,875 |  |  | 737,748 |
Investment in stock of other subsidiaries | 1,857 |  |  | 1,857 |
Total assets | $ | 629,020 |  |  | $ | 765,661 |
Liabilities: |  |  |
Other liabilities | $ | 6,892 |  |  | $ | 2,508 |
Long-term debt | 225,131 |  |  | 224,766 |
Total liabilities | 232,023 |  |  | 227,274 |
Shareholders' Equity: |  |  |
Common stock, no par value | 233,185 |  |  | 229,889 |
Retained earnings | 251,013 |  |  | 395,357 |
Accumulated other comprehensive income (loss) | (87,201) |  |  | (86,859) |
Total shareholder's equity | 396,997 |  |  | 538,387 |
Total liabilities and shareholders' equity | $ | 629,020 |  |  | $ | 765,661 |
Condensed statements of income, parent company |
Condensed Income Statements | Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  |
Noninterest income |  |  |  |  |
Dividend income | $ | 10,400 |  |  | $ | 39,000 |  |  |
Equity in undistributed income from subsidiaries | (141,939) |  |  | (55,832) |  |  |
Other noninterest income | 2,470 |  |  | 2,085 |  |  |
Total revenues | (129,069) |  |  | (14,747) |  |  |
Expenses |  |  |  |  |
Interest expense-net | 8,097 |  |  | 8,094 |  |  |
Noninterest expense | 11,268 |  |  | 8,176 |  |  |
Total expenses | 19,365 |  |  | 16,270 |  |  |
Income (loss) before income taxes (benefit) | (148,434) |  |  | (31,017) |  |  |
Income taxes (benefit) | (4,090) |  |  | (3,509) |  |  |
Net income (loss) | $ | (144,344) |  |  | $ | (27,508) |  |  |
Condensed statements of cash flows, parent company |
Condensed Statements of Cash Flows | Years Ended December 31,
(in thousands) | 2024 |  | 2023 |  |
Cash flows from operating activities |  |  |  |  |
Net income (loss) | $ | (144,344) |  |  | $ | (27,508) |  |  |
Adjustments to reconcile net income (loss) to net cash provided by operating activities |  |  |  |  |
Undistributed earnings from investment in subsidiaries | 141,939 |  |  | 55,832 |  |  |
Other | 3,513 |  |  | (480) |  |  |
Net cash provided by operating activities | 1,108 |  |  | 27,844 |  |  |
Cash flows from investing activities: |  |  |  |  |
AFS securities: Principal collections net of purchases | 203 |  |  | 210 |  |  |
Investments in subsidiaries | 3 |  |  | — |  |  |
Net cash provided by investing activities | 206 |  |  | 210 |  |  |
Cash flows from financing activities: |  |  |  |  |
Repurchases of common stock | — |  |  | — |  |  |
Proceeds from issuance of long-term debt | — |  |  | — |  |  |
Dividends paid on common stock | — |  |  | (12,317) |  |  |
Net cash used in financing activities | — |  |  | (12,317) |  |  |
Net increase in cash and cash equivalents | 1,314 |  |  | 15,737 |  |  |
Cash and cash equivalents, beginning of year | 21,541 |  |  | 5,804 |  |  |
Cash and cash equivalents, end of year | $ | 22,855 |  |  | $ | 21,541 |  |  |

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