What are Homestreet Inc's Business Segments?
Commercial and Consumer Banking. Our Commercial and Consumer Banking strategy
involves organic growth and strategic acquisitions along with improvements in
operations and productivity intended to drive cost efficiencies. Through our
acquisitions of Fortune and YNB in November 2013, we increased our portfolio
of commercial business loans and added experienced commercial lending officers
and managers, increasing our commercial banking presence in the Puget Sound
area through the Fortune acquisition and expanding into central and eastern
Washington through our acquisition of YNB. We entered the retail banking market
in Southern California with our acquisition of Simplicity, and further expanded
our commercial banking presence there with the opening of two Orange County
based commercial lending teams, HomeStreet commercial capital and our SBA lending
team. The acquisition of OCBB adds another retail deposit branch to our Southern
California presence, and we expect to continue to grow our commercial real estate
and residential construction lending in Southern California and to continue
building teams that are well located throughout our footprint to provide commercial
banking services generally, including SBA lending.
Mortgage Banking. We have leveraged our reputation for high quality service
and reliable loan closing to increase our single family mortgage market share
significantly over the last five years. In addition, we plan to continue to
grow our business in the western U.S. through targeted hiring of loan originators
with successful track records and an emphasis on purchase mortgage transactions.
We intend to continue to focus on conventional conforming and government insured
or guaranteed single family mortgage origination. We will also continue to offer
portfolio loan products to complement secondary market lending, particularly
for well-qualified borrowers with loan sizes greater than the conventional conforming
limits. There will also be continued focus on increasing efficiency within our
fulfillment, servicing and compliance departments.
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