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BORROWINGS AND LONG-TERM DEBT | 3 Months Ended
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Mar. 31, 2026
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 March 31, 2026 and December 31, 2025. As of March 31, 2026 and December 31, 2025, the Company’s investment in capital stock of the FHLB totaled $17.3 million. The Company had $10.3 billion of loans pledged to the FHLB, which permits up to $6.1 billion of available borrowing capacity as of March 31, 2026. Federal Reserve Bank Discount Window The Company had no outstanding Discount Window borrowings as of March 31, 2026 and December 31, 2025. The Company had pledged $1.3 billion of consumer loans through the Borrower-In-Custody Program and investment securities with a carrying value of $3.3 billion to the Federal Reserve Bank Discount Window, which permits $4.2 billion of additional borrowing capacity as of March 31, 2026. Brokered and Other Wholesale Funding The Company had no brokered or other wholesale funding outstanding as of March 31, 2026 and December 31, 2025. The Company had $5.1 billion of available borrowing capacity under borrowing lines established with other financial institutions as of March 31, 2026. 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. 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 following table presents the Company’s long-term debt:
|  | March 31, 2026 |  | December 31, 2025 |  |  |
(dollars in thousands) |  | Par Value |  | Carrying Value (1) |  | Par Value |  | Carrying Value (1) | Rate |  | Maturity Date
Senior Notes (2) |  | $ | — |  |  | $ | — |  |  | $ | 65,000 |  |  | $ | 64,835 |  | 6.5% per annum |  | June 1, 2026
Subordinated Notes |  | 96,000 |  |  | 80,774 |  |  | 96,000 |  |  | 79,626 |  | 3.5% per annum (3) |  | January 30, 2032
TRUPs: |  |  |  |  |  |  |  |  |  |  |
HomeStreet Statutory Trust I (5) |  | 5,155 |  |  | 4,132 |  |  | 5,155 |  |  | 4,090 |  | 3-month Term SOFR + 1.96% (4) |  | June 15, 2035
HomeStreet Statutory Trust II (5) |  | 20,619 |  |  | 16,113 |  |  | 20,619 |  |  | 15,943 |  | 3-month Term SOFR + 1.76% (4) |  | December 15, 2035
HomeStreet Statutory Trust III (5) |  | 20,619 |  |  | 15,855 |  |  | 20,619 |  |  | 15,686 |  | 3-month Term SOFR + 1.63% (4) |  | March 15, 2036
HomeStreet Statutory Trust IV (5) |  | 15,464 |  |  | 11,941 |  |  | 15,464 |  |  | 11,834 |  | 3-month Term SOFR + 1.94% (4) |  | June 15, 2037
Total |  | $ | 157,857 |  |  | $ | 128,815 |  |  | $ | 222,857 |  |  | $ | 192,014 |  |  |  |
(1)Includes discounts from purchase accounting adjustments as a result of the Merger on September 2, 2025. (2)On March 1, 2026, the Company redeemed at par, its $65 million of Senior Notes. (3)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. (4)These rates reflect the floating rates as of March 31, 2026. (5)Call options are exercisable at par and are callable, without penalty, on a quarterly basis.

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