HomeStreet
HomeStreet, founded in 1922 in Seattle, was acquired by Mechanics Bancorp in September 2025 and now operates as a wholly-owned subsidiary offering consumer and commercial banking, mortgage lending, and wealth management services across the U.S. West Coast.
- Company typePrivate
- Founded1922
- HeadquartersSeattle, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What HomeStreet does
HomeStreet, originally founded in 1922 as a savings and loan association in Seattle, Washington, operated as a publicly traded bank holding company (NASDAQ: HMST) offering consumer and commercial banking, mortgage lending, commercial real estate financing, and insurance products. Following the failure of a prior merger with a Denver-based bank, HomeStreet was acquired by Mechanics Bancorp (NASDAQ: MCHB) on September 2, 2025, becoming a wholly-owned subsidiary and taking the legacy HomeStreet entity private. The deal combined two West Coast regional banks, with the surviving Mechanics Bank platform reporting $22.4 billion in total assets and $19.0 billion in deposits as of Q4 2025.
The integrated platform runs on Mechanics Bank's core banking infrastructure, with all legacy HomeStreet customers successfully migrated to that platform in the final week of March 2026. Product breadth spans personal banking (checking, savings, money markets, CDs, retirement accounts, debit cards, home loans, credit cards, auto loans), business and commercial banking (business checking, savings, treasury management, commercial lending, SBA loans, merchant services, payroll), wealth management (trust, estate, investment management, private banking), and industry-specialized practices (government banking, wine & vineyards, title and escrow). Digital delivery is via online and mobile banking, with a dedicated Online Banking Plus system for legacy HomeStreet customers and a separate mortgage servicing portal. Insurance is offered through partnered carriers.
The combined entity serves consumers, small and mid-sized businesses, high-net-worth individuals, government entities, and industry-specific clients across California, Oregon, Washington, and Hawaii through 120+ branch locations and regional lending advisors organized by geography. Revenue is generated primarily through net interest income (spread on loans and deposits) supplemented by non-interest fee income from treasury management, SBA lending, merchant services, payroll, and wealth management. Reported consolidated net income was $124.3 million in Q4 2025 and $44.1 million in Q1 2026, with management targeting $300 million in run-rate earnings by Q4 2026, 17-18% ROTCE by 2027, and $82 million in cost savings from the HomeStreet integration. The Fannie Mae DUS servicing business was divested to Fifth Third Bank for $126-130 million (closed Q2 2026), funding a $0.70 per-share special dividend and rebalancing the balance sheet away from CRE servicing exposure.
HomeStreet firmographics
Firmographics- Name
- HomeStreet
- Legal name
- HomeStreet, Inc.
- Website
- https://homestreet.com
- Company type
- Private
- Founded year
- 1922
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- HomeStreet, founded in 1922 in Seattle, was acquired by Mechanics Bancorp in September 2025 and now operates as a wholly-owned subsidiary offering consumer and commercial banking, mortgage lending, and wealth management services across the U.S. West Coast.
- Ownership category
- akta.pro rank
HomeStreet industry classification
Industry- Product category
- Retail & Commercial Banking
- NAICS
- Depository Credit Intermediation (5221), Real Estate Credit (522292)
- SIC
- Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Residential Mortgage Origination & Servicing (Retail) (FSABAAAD)
- akta.pro secondary industry
- Bank Branch / Retail Purchase Mortgages (FSALAAAA)
Keywords
Where HomeStreet is headquartered
LocationHeadquarters
- HQ city
- Seattle
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
HomeStreet business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Net Interest Income: Primary revenue source from spread between interest earned on loans and interest paid on deposits. As a regional bank with over $22 billion in assets, the majority of revenue derives from mortgage lending, commercial real estate lending, and consumer banking operations.
- Non-Interest Income: Fee income from banking services including treasury management fees, merchant services, payroll services, SBA loan fees, and wealth management services. The company also generated income from sale of the Fannie Mae Delegated Underwriting and Servicing (DUS) business to Fifth Third Bank for approximately $126-130 million.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Checking Accounts - Multiple tiers available |
| Subscription | Monthly | Personal Savings & Retirement Accounts |
| Subscription | Monthly | Business Banking Services |
| Other | Multi-year contract | Commercial Lending Products |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels5 records
HomeStreet product offering
Product offeringCore offering
HomeStreet is a consumer and commercial bank offering personal banking (checking, savings, money markets, CDs, retirement accounts, debit cards), home loans and residential mortgage lending, commercial lending (term loans, lines of credit, multi-family, commercial real estate, equipment financing, SBA loans), business banking with treasury management and cash management services, wealth management (trust, estate, investment management, private banking), and insurance products. The bank serves both individual consumers and small-to-mid-sized businesses across the West Coast through 120+ branch locations and digital banking channels.
Product overview
HomeStreet, following its merger with Mechanics Bank completed in September 2025, operates as a unified regional banking platform offering a comprehensive suite of consumer and commercial financial services. The integrated product portfolio includes Personal Banking (checking, savings, debit cards), Business & Commercial Banking (treasury management, commercial lending), Wealth Management (trust, investment, private banking), Home Loans (residential mortgages), Small Business Lending (SBA loans, BLOC), Insurance Products, and Digital Banking platforms. The merger brought together HomeStreet's mortgage and retail banking expertise with Mechanics Bank's commercial banking capabilities, now accessible through Mechanics Bank's digital platforms including the Online Banking Plus system for legacy HomeStreet customers.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Banking Comprehensive personal banking services including checking accounts, savings accounts, money markets, CDs, retirement accounts, and debit cards for individual consumers.
- Business & Commercial Banking Full-service commercial banking offerings including business checking, savings solutions, treasury management, commercial lending, and small business lending services for businesses and commercial clients.
- Home Loans Residential mortgage lending services including home purchase loans, refinancing, home loan solutions, and mortgage management for homeowners.
- Commercial Lending Commercial loan products including term loans, lines of credit, multi-family lending, commercial real estate financing, owner-occupied real estate, equipment financing, SBA loans, and trade services & letters of credit.
- Treasury Management Cash management and treasury services for businesses including payable solutions, receivable solutions, fraud prevention, and cash management tools.
- Wealth Management
- Small Business Lending
- Insurance Products
- Digital Banking Platform
- Online Banking Plus
- Wine & Vineyard Banking
- Title and Escrow Banking
- Government Banking
- International Services
- Merchant Services
- Payroll Services
Quantifiable outcome
- HomeStreet merger integration on track with all legacy customers successfully migrated to Mechanics Bank core platform in late March 2026
- +3 more outcomes
Companies that use HomeStreet
Customer profileSegments5 records
Ideal customer profiles4 records
HomeStreet technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
HomeStreet partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights6 records
HomeStreet competitors and assessment
Company assessmentDirect peers
- CVB Financial: CVB Financial (Citizens Business Bank) is a California-focused commercial bank with strong commercial and SBA lending capabilities. It directly competes in the same California markets where Mechanics Bank has built its branch network and commercial lending franchise.
- Banner Corporation: Banner Bank is a Pacific Northwest community bank with similar mortgage, commercial, and consumer banking offerings. It serves overlapping geographies in Washington and Oregon and competes directly for the same deposit and lending customers.
- Umpqua Holdings: Umpqua Bank is a Pacific regional bank with comparable commercial banking, mortgage origination, and wealth management services. Its Oregon and Washington presence directly overlaps HomeStreet's traditional Pacific Northwest footprint.
- Heritage Financial: Heritage Financial is a Pacific Northwest community bank with consumer, commercial, and mortgage lending products serving Washington and Oregon — directly overlapping HomeStreet's historical core geography.
- Glacier Bancorp: Glacier Bancorp is a multi-state community bank holding company operating across the Western U.S. with comparable commercial, consumer, and mortgage lending, and similar community-bank relationship model.
- First Interstate BancSystem: First Interstate is a Western U.S. regional bank with similar community banking model and commercial/consumer lending mix, competing for the same SMB and consumer banking customers across multiple Western states.
- Pacific Premier Bancorp: Pacific Premier Bancorp is a California-headquartered regional bank with comparable asset size and a similar mix of commercial real estate, business banking, and specialty lending. It directly competes with the combined Mechanics/HomeStreet franchise across the West Coast.
- Columbia Banking System: Columbia Banking System is a Pacific Northwest regional bank with overlapping Washington and Oregon branch footprints. It offers a comparable suite of consumer, business, and commercial real estate lending products serving the same West Coast customer base.
Broad incumbents
- Cathay General Bancorp: Cathay General Bancorp is a larger California-focused commercial bank with diversified commercial real estate, SBA, and treasury management offerings, directly competing for the same mid-market commercial clients in California.
- East West Bancorp: East West Bancorp is a larger West Coast commercial bank with a comprehensive product set including commercial real estate, treasury management, and business lending. It competes in the same California and broader West Coast markets but at a larger scale.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
HomeStreet social profiles
Digital presenceHomeStreet compliance and trust
Trust signalCompliance3 records
HomeStreet financial estimates
Financial estimateRevenue estimate
Valuation estimate
HomeStreet leadership team
Management profileNumber of profiles
Profiles6 records
HomeStreet subsidiaries and ownership
Company hierarchySubsidiaries1 record
HomeStreet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HomeStreet M&A and investment
M&A and investmentM&A2 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HomeStreet
What does HomeStreet do?
HomeStreet is a consumer and commercial bank offering personal banking (checking, savings, money markets, CDs, retirement accounts, debit cards), home loans and residential mortgage lending, commercial lending (term loans, lines of credit, multi-family, commercial real estate, equipment financing, SBA loans), business banking with treasury management and cash management services, wealth management (trust, estate, investment management, private banking), and insurance products. The bank serves both individual consumers and small-to-mid-sized businesses across the West Coast through 120+ branch locations and digital banking channels.
Is HomeStreet a public or private company?
HomeStreet is a private company. It is classified as corporate owned and is currently acquired.
When was HomeStreet founded?
HomeStreet was founded in 1922. It employs 501 to 1,000 people.
Where is HomeStreet based?
HomeStreet is headquartered in Seattle, United States, in the North America region.
How does HomeStreet make money?
Two revenue lines are on record. Net Interest Income is the primary driver. The others are non-Interest Income.
Who are HomeStreet's main competitors?
Direct peers on record are CVB Financial, Banner Corporation, Umpqua Holdings, Heritage Financial, Glacier Bancorp, First Interstate BancSystem, Pacific Premier Bancorp and Columbia Banking System. Broad incumbents are Cathay General Bancorp and East West Bancorp.
Does HomeStreet have an API?
No public API is recorded for HomeStreet.
What industry is HomeStreet in?
HomeStreet's product category is Retail & Commercial Banking. Its primary akta.pro industry code is FSABAAAD, Residential Mortgage Origination & Servicing (Retail), with a secondary code of FSALAAAA, Bank Branch / Retail Purchase Mortgages. Its NAICS code is 5221 and its SIC code is 6162.