8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): January 11, 2018

HOMESTREET, INC.

(Exact name of registrant as specified in its charter)

Washington	001-35424	91-0186600
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

601 Union Street, Ste. 2000, Seattle, WA 98101

(Address of principal executive offices) (Zip Code)

(206) 623-3050

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
[ ]	Emerging growth Company
[ ]	If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 12(a) of the Exchange Act.

Item 7.01 Regulation FD Disclosure

The information provided pursuant to this Item 7.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any filing or other document filed by HomeStreet, Inc. pursuant to the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document. The information provided pursuant to this Item 7.01 shall instead be deemed “furnished.”

On January 11, 2018, HomeStreet, Inc. (the "Company") issued a press release discussing the estimated impact on the Company of certain aspects of the tax reform legislation enacted on December 22, 2017. A copy of the Company's press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01	Financial Statements and Exhibits
Exhibit No.	Description
99.1	HomeStreet, Inc. Press Release dated January 11, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: January 11, 2018

HomeStreet, Inc.
By:	/s/ Mark R. Ruh
	Mark R. Ruh
	Executive Vice President and Chief Financial Officer

EX-99.1

HomeStreet Announces Impact of Tax Reform

SEATTLE - January 11, 2018 - (BUSINESS WIRE) - HomeStreet, Inc. (Nasdaq:HMST), the parent company of HomeStreet Bank, (“HomeStreet”) today announced management’s expectations for the impact to HomeStreet’s financial position and results of operation from the Tax Cuts and Jobs Act legislation, which was signed into law by President Trump on December 22, 2017. As a result of the decrease in the federal corporate income tax rates from 35% to 21% and other changes included in the legislation, which took effect January 1, 2018, HomeStreet expects:

• A reduction to its consolidated effective tax rate to an estimated range between 21% and 22%, before discrete items, for 2018;

• The recognition of a one-time, non-cash tax benefit of approximately $23 million in the fourth quarter of 2017; and

• An estimated reduction in regulatory capital ratios of approximately 1-5 basis points at December 31, 2107.

HomeStreet’s effective tax rate differs from its corporate income tax rate primarily due to the impact of state income taxes, tax-exempt interest income, bank-owned life insurance and low-income housing tax credit investments.

By segment, we estimate that the combined federal and state income tax rate, before discrete items, for 2018 will range between 20% and 21% for the Commercial and Consumer Banking Segment and 24% and 25% for the Mortgage Banking Segment. The estimated income tax rates differ between the segments because the Commercial and Consumer Banking segment has tax-exempt interest income from certain securities holdings and tax credit items.

The actual income tax rate for HomeStreet and for each of our segments may vary based on a variety of factors, including but not limited to the composition of our taxable and non-taxable earnings as well as the composition of earnings from the various states in which we operate.

In addition to the expected reduction in our effective tax rate for 2018, we will also recognize a one-time benefit from revaluing our December 31, 2017 net deferred tax liability position at the new federal corporate income tax rate. This revaluation will result in a one-time tax benefit of approximately $23 million, or approximately $0.85 per diluted common share, which will be reflected in HomeStreet’s operating results for the fourth quarter of 2017.

While we do anticipate that HomeStreet’s equity will increase as a result of the tax benefits from this new legislation, our regulatory capital ratios are not expected to increase but instead will decline slightly as the amount of our mortgage servicing rights, net of deferred taxes, deducted from regulatory capital will increase. As a result, we expect our regulatory capital ratios to decrease by approximately 1-5 basis points.

Forward-Looking Statements

This press release contains forward-looking statements concerning HomeStreet, Inc. and HomeStreet Bank, and their operations, performance and likelihood of success. All statements other than statements of historical fact are

forward-looking statements. In particular, statements about anticipated future results, estimated impacts of tax reform legislation, anticipated benefits ( which we may not be able to realize), and other factors that affect the success of the measures announced in this release, as well as statements that anticipate these events, are forward looking in nature. We cannot give assurances that the tax reform benefits will be as impactful as we have anticipated. Forward-looking statements are based on many beliefs, assumptions, estimates and expectations of our future performance, taking into account information currently available to us, and include statements about the competitiveness of the banking industry. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond HomeStreet’s control. You should consider, among other things, the risk factors included in our periodic reports filed with the Securities and Exchange Commission, including but not limited to our most recent Quarterly Report on Form 10-Q for the third quarter of 2017. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date.

About HomeStreet, Inc.

HomeStreet, Inc. (Nasdaq:HMST) is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii through its various operating subsidiaries. The company operates two primary business segments: Mortgage Banking, which originates and purchases single family residential mortgage loans, primarily for sale into secondary markets; and Commercial & Consumer Banking, including commercial real estate, commercial lending, residential construction lending, retail banking, private banking, investment, and insurance services. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. Certain information about our business can be found on our investor relations web site, located at http://ir.homestreet.com.

HomeStreet, Inc.

Investor Relations:

Gerhard Erdelji, 206-515-4039

gerhard.erdelji@homestreet.com

or

Media Relations:

Michael Brandt, 206-876-5506

michael.brandt@homestreet.com

www.homestreet.com/newsroom

Source: HomeStreet, Inc.

Source: HomeStreet, Inc.