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Homestreet Inc   (NASDAQ: HMST)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 

Homestreet Inc's Customers Performance

HMST

 
HMST's Source of Revenues Homestreet Inc's Corporate Customers have recorded an advance in their cost of revenue by 8.16 % in the 3 quarter 2024 year on year, sequentially costs of revenue grew by 4.79 %. During the corresponding time, Homestreet Inc revenue deteriorated by -21.41 % year on year, sequentially revenue fell by -7.57 %. While revenue at the Homestreet Inc 's corporate clients fell by -3.47 % year on year, sequentially revenue grew by 4.2 %.

List of HMST Customers




Homestreet Inc's Customers have recorded an advance in their cost of revenue by 8.16 % in the 3 quarter 2024 year on year, sequentially costs of revenue grew by 4.79 %, for the same period Homestreet Inc revnue deteriorated by -21.41 % year on year, sequentially revenue fell by -7.57 %.

List of HMST Customers

Homestreet Inc's Business Units




   
Customers Net Income fell in Q3 by Customers Net margin fell to %
-25 % 13.36 %
Customers Net Income fell in Q3 by -25 %


Customers Net margin fell to 13.36 % 13.36 %



Homestreet Inc's Customers, Q3 2024 Revenue Growth By Industry
Customers in Construction Services Industry      8.13 %
Customers in Life Insurance Industry      2.68 %
Customers in Property & Casualty Insurance Industry -26.45 %   
Customers in Miscellaneous Financial Services Industry -26.13 %   
     
• Customers Valuation • Customers Mgmt. Effect.


Homestreet Inc's Comment on Sales, Marketing and Customers



At the same time, national banks have been focused on larger customers to achieve economies of scale in lending and depository relationships and have also consolidated business banking operations and support and reduced service levels in the Pacific Northwest. We have taken advantage of the failures and takeovers of certain of our competitors by recruiting well-qualified employees and attracting new customers who seek long-term stability, local decision-making, quality products and outstanding expertise and customer service. We believe there is a significant opportunity for a well-capitalized, community-focused bank that emphasizes responsive and personalized service to provide a full range of financial services to small- and middle-market commercial and consumer customers in markets that are not well served by existing community banks focused on that demographic, including Southern California. Accordingly, we opened additional home lending centers in Southern California while also expanding our home loan production into Arizona, and we increased our presence in Southern California through the acquisition of Simplicity Bank and its seven retail branch network. We have continued to increase our presence in Southern California by adding commercial lending teams and additional single family mortgage loan production personnel. We added another retail deposit branch and increased our commercial lending business further with the acquisition of Orange County Business Bank.



  News about Homestreet Inc Contracts

FirstSun Capital Bancorp and HomeStreet, Inc. Amend Merger Deal Amidst HomeStreet?s Revenue Decline

DENVER and SEATTLE - An amendment to the definitive merger agreement previously entered by FirstSun Capital Bancorp (FirstSun) and HomeStreet, Inc. (HomeStreet) on January 16, 2024, has been mutually agreed upon, announced the companies. The amendment provisions a substantial increase in FirstSun?s total equity capital to be raised concerning the merger. An additional $45 million to $60 million is expected, therefore escalating from previous overall capital projections.FirstSun and HomeStreet s announcement comes upon an era marked by dynamic changes in HomeStreet Inc s revenue patterns. During Q4 2023, HomeStreet s corporate customers noted an increase in their cost of revenue by 1.46% year on year. The rat...




Homestreet Inc's Comment on Sales, Marketing and Customers


At the same time, national banks have been focused on larger customers to achieve economies of scale in lending and depository relationships and have also consolidated business banking operations and support and reduced service levels in the Pacific Northwest. We have taken advantage of the failures and takeovers of certain of our competitors by recruiting well-qualified employees and attracting new customers who seek long-term stability, local decision-making, quality products and outstanding expertise and customer service. We believe there is a significant opportunity for a well-capitalized, community-focused bank that emphasizes responsive and personalized service to provide a full range of financial services to small- and middle-market commercial and consumer customers in markets that are not well served by existing community banks focused on that demographic, including Southern California. Accordingly, we opened additional home lending centers in Southern California while also expanding our home loan production into Arizona, and we increased our presence in Southern California through the acquisition of Simplicity Bank and its seven retail branch network. We have continued to increase our presence in Southern California by adding commercial lending teams and additional single family mortgage loan production personnel. We added another retail deposit branch and increased our commercial lending business further with the acquisition of Orange County Business Bank.










HMST's vs. Customers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Homestreet Inc 199.06 320.22 87.47 827
Arch Capital Group Ltd 35,267.18 16,867.00 5,710.00 6,400
American International Group Inc 46,992.26 35,715.00 -2,300.00 25,200
Achari Ventures Holdings Corp I 34.17 855.20 -2.63 0
Beazer Homes Usa Inc 813.82 2,327.29 140.18 1,158
Century Communities Inc 2,292.99 4,030.34 229.37 445
Mr Cooper Group Inc 6,192.13 1,975.00 547.00 6,800
D r Horton Inc 45,719.82 36,801.40 4,806.00 9,429
Essent Group Ltd 5,711.29 1,225.15 736.87 536
Genworth Financial Inc 3,002.66 7,424.00 214.00 3,900
Green Brick Partners Inc 2,438.91 1,950.61 379.08 229
Hovnanian Enterprises Inc 980.44 3,004.92 242.01 1,500
Kb Home 4,940.34 6,604.18 614.72 2,366
Lennar Corp 37,265.42 35,055.87 4,081.90 12,284
Lgi Homes Inc 2,048.83 2,253.62 197.29 1,540
Mbia Inc 328.45 13.00 -579.00 0
M d c Holdings Inc 0.00 5,132.93 347.77 1,763
Mi Homes Inc 3,706.78 4,271.98 535.54 1,607
Mgic Investment Corp 7,200.63 1,174.39 875.01 1,100
Meritage Homes Corporation 2,797.92 1,727.80 967.29 1,838
Nmi Holdings Inc 2,886.82 635.85 357.35 238
Nobility Homes Inc 108.17 54.82 8.87 142
Nvr Inc 26,282.72 10,111.44 1,634.57 6,300
Radian Group Inc 4,844.76 1,300.44 598.84 1,461
Taylor Morrison Home Corp 6,465.06 7,832.18 815.71 900
Toll Brothers Inc 13,197.62 11,179.25 1,601.94 4,900
Tri Pointe Homes Inc 3,378.66 5,101.26 463.52 1,438
Vanjia Corporation 71.10 0.02 0.02 0
SUBTOTAL 264,968.95 204,624.92 23,223.19 93,474


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