Flush with cash from investors and profits, HomeStreet bets on mortgage loans
Posted on April 30, 2012 at 17:18 PM EDT
HomeStreet Bank saw a big boost in profits for the first quarter of 2012, compared to a loss a year ago, as the Seattle-based bank continues to show revved-up life 11 weeks after going public and raising $88.7 million from shareholders. HomeStreet Inc. (HMST), the parent company of HomeStreet Bank, reported net income of $19 million ($3.55 per share) for the quarter that ended March 31. A year ago, the bank posted a loss of $7.4 million a share (a loss of $2.76 a share), while in the fourth quarter...