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BORROWINGS AND LONG-TERM DEBT | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
BORROWINGS AND LONG-TERM DEBT | BORROWINGS AND LONG-TERM DEBT Federal Home Loan Bank (FHLB) Advances The Company did not have any outstanding FHLB Advances as of September 30, 2025 and December 31, 2024. As of September 30, 2025 and December 31, 2024, the Company’s investment in capital stock of the FHLB of San Francisco totaled $17.3 million. The Company had $6.6 billion of loans pledged to the FHLB, which permits up to $3.8 billion of additional borrowing capacity as of September 30, 2025. Federal Reserve Bank Discount Window The Company had no outstanding Discount Window borrowings as of September 30, 2025 and December 31, 2024. The Company had pledged $1.4 billion of consumer loans through the Borrower-In-Custody Program and investment securities with a carrying value of $3.0 billion to the Federal Reserve Bank Discount Window, which permits $4.0 billion of additional borrowing capacity as of September 30, 2025. Brokered and Other Wholesale Funding The Company had no brokered or other wholesale funding outstanding as of September 30, 2025 and December 31, 2024. The Company had $5.3 billion of available borrowing capacity under borrowing lines established with other financial institutions as of September 30, 2025. Long-Term Debt As a result of the Merger, the Company assumed Subordinated Notes, Senior Notes and TRUPS debt. These balances are reported beginning on the Merger date of September 2, 2025, therefore there are no balances or activity for the quarters and nine months ended September 30, 2024 and as of December 31, 2024. The trust preferred securities were issued by legacy HomeStreet, Inc. during the period from 2005 through 2007. In connection with the issuance of trust preferred securities, legacy HomeStreet, Inc. issued to HomeStreet Statutory Trust, Junior Subordinated Deferrable Interest Debentures. The sole assets of the HomeStreet Statutory Trust are the Subordinated Debt Securities I, II, III, and IV. The Company’s outstanding long-term debt as of September 30, 2025 are as follows:
|  | September 30, 2025 |  |  |  |
(in thousands) |  | Par Value |  | Carrying Value (1) |  | Rate |  | Maturity Date
Senior Notes |  | $65,000 |  | $64,608 |  | 6.5% per annum |  | June 1, 2026
Subordinated Notes |  | 96,000 |  | 78,449 |  | 3.5% per annum (2) |  | January 30, 2032
TRUPs: |  |  |  |  |  |  |  |
HomeStreet Statutory Trust I (4) |  | 5,155 |  | 4,048 |  | 3 MO SOFR + 1.96% (3) |  | June 15, 2035
HomeStreet Statutory Trust II (4) |  | 20,619 |  | 15,773 |  | 3 MO SOFR + 1.76% (3) |  | December 15, 2035
HomeStreet Statutory Trust III (4) |  | 20,619 |  | 15,516 |  | 3 MO SOFR + 1.63% (3) |  | March 15, 2036
HomeStreet Statutory Trust IV (4) |  | 15,464 |  | 11,729 |  | 3 MO SOFR + 1.94% (3) |  | June 15, 2037
|  | $222,857 |  | $190,123 |  |  |  |
(1) Includes discounts from purchase accounting adjustments as a result of the Merger on September 2, 2025. (2) The Subordinated Notes bear interest at a rate of 3.5% per annum until January 30, 2027. From January 30, 2027, until the maturity date or the date of earlier redemption, the notes will bear interest equal to the three-month term SOFR plus 215 basis points. (3) These rates reflect the floating rates as of September 30, 2025. (4) Call options are exercisable at par and are callable, without penalty, on a quarterly basis.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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