Jul 24, 201705:20 PMBlog
Strong borrowing lifts HomeStreet results
HomeStreet Inc. today reported a 24 percent jump in earnings per share for the 2017 second quarter, compared to the previous three-month period. Q2 year-over-year comparison, however, was down by about half with the second three months of 2016.
The parent company of HomeStreet Bank announced $11.2 million or 41 cents per diluted share in net income from April through June 2017; the same period last year was $21.7 million (87-cents per share.)
“While the mortgage banking segment continues to suffer from a limited supply of available housing in our markets, this effect was partially offset by strong growth in our Commercial & Consumer Banking segment,” said Mark K. Mason, chairman, president and CEO.
That HomeStreet segment shows net income of $9.4 million for the second quarter of 2017, compared with $7.1 million in the second quarter last year. Total assets of $6.59 billion grew $185.4 million, or 3 percent in the quarter. Total commercial business related deposits increased $69.1 million, or 6 percent, compared to 2017 first quarter.