HomeStreet, Inc.: Business Overview, Financials & Competitive Analysis
HomeStreet, Inc. scores 3/10 on the AskCyborg Cyborg Score (Challenged). Turnaround play dependent on successful Mechanics Bank merger completion and return to profitability by Q4 2025. In 2024, HomeStreet's revenue declined 63.80% to $75.70 million compared to the previous year, with losses reaching $144.34 million. The trailing twelve months net income was negative $144.34 million with a net profit margin.
What is HomeStreet, Inc.'s industry? HomeStreet, Inc. (homestreet.com) operates in Regional Banking / Commercial & Mortgage Banking. AskCyborg classifies HomeStreet, Inc. under Regional Banking / Commercial & Mortgage Banking in its company registry.
HomeStreet operates as a diversified financial services company providing commercial, mortgage, and consumer banking services primarily in the Western United States, with loan products including commercial real estate...
Cyborg Score thesis
Turnaround play dependent on successful Mechanics Bank merger completion and return to profitability by Q4...
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Pro stress-test →HomeStreet operates as a diversified financial services company providing commercial, mortgage, and consumer banking services primarily in the Western United States, with loan products including commercial real estate, multifamily, construction, and single family residential mortgages. The company is currently navigating a transformational period marked by significant operational restructuring and merger activity.
Strategic Profile
Pro stress-test →Operating largely in the western United States and Hawaii with a reputation based on long-term relationships and community involvement, HomeStreet's competitive positioning emphasizes housing finance and real estate projects uniquely among regional banks. The company executed major balance sheet restructuring through a $990 million multifamily loan portfolio sale, retaining servicing rights and reducing FHLB borrowings.
Competitive Landscape
Pro stress-test →HMST underperformed the US Banks industry which returned 31.3% and the US Market which returned 22.8% over the past year. Primary competitors include large regional and community banks operating in Western US markets, such as Mechanics Bancorp (post-merger parent), along with national mortgage lenders and multi-family real estate finance specialists.
Industry Context
HomeStreet, Inc. operates in Regional Banking / Commercial & Mortgage Banking.
Key facts
Headquarters: Seattle, Washington · Revenue: $0.076B · Market cap: $0.26B