PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED)

12 Months Ended

Dec. 31, 2021

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 Sheets	At December 31,
(in thousands)	2021		2020
Assets:
Cash and cash equivalents	$	12,756	$	20,021
Other assets	5,082		7,686
Investment in stock of HomeStreet Bank	779,851		780,531
Investment in stock of other subsidiaries	45,175		36,381
Total assets	$	842,864	$	844,619
Liabilities:
Other liabilities	$	1,499	$	1,031
Long-term debt	126,026		125,838
Total liabilities	127,525		126,869
Shareholders' Equity:
Common stock, no par value	249,856		278,505
Retained earnings	444,343		403,888
Accumulated other comprehensive income	21,140		35,357
Total shareholder's equity	715,339		717,750
Total liabilities and shareholder's equity	$	842,864	$	844,619

Condensed Income Statements	Years Ended December 31,
(in thousands)	2021		2020		2019
Noninterest income
Dividend income from HomeStreet Bank	$	109,000	$	82,909	$	110,000
Equity in undistributed income from subsidiaries	10,801		3,374		—
Distributions in excess of income from subsidiaries	—		—		(84,146)
Other noninterest income	1,838		1,773		2,293
Total revenues	121,639		88,056		28,147
Expenses
Interest expense-net	4,576		5,731		4,821
Noninterest expense	2,939		4,136		8,437
Total expenses	7,515		9,867		13,258
Income before income taxes (benefit)	114,124		78,189		14,889
Income taxes (benefit)	(1,298)		(1,801)		(2,623)
Net income	$	115,422	$	79,990	$	17,512

Condensed Statements of Cash Flows	Years Ended December 31,
(in thousands)	2021		2020		2019
Cash flows from operating activities
Net income	$	115,422	$	79,990	$	17,512
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Undistributed earnings from investment in subsidiaries	(10,801)		(3,374)		—
Distributions in excess or earnings from investment in subsidiaries	—		—		84,146
Other	(8,669)		(4,483)		(30)
Net cash provided by operating activities	95,952		72,133		101,628
Cash flows from investing activities:
AFS securities: Principal collections net of purchases	2,012		2,886		1,049
Net cash provided by investing activities	2,012		2,886		1,049
Cash flows from financing activities:
Repurchases of common stock	(84,154)		(58,009)		(98,543)
Proceeds from stock issuance, net	263		238		105
Dividends paid on common stock	(21,338)		(13,865)		—
Net cash used in financing activities	(105,229)		(71,636)		(98,438)
Net (decrease) increase in cash and cash equivalents	(7,265)		3,383		4,239
Cash and cash equivalents, beginning of year	20,021		16,638		12,399
Cash and cash equivalents, end of year	$	12,756	$	20,021	$	16,638