to present a proposal at an annual meeting does not appear to present his or her proposal at such meeting, the Company need not present the proposal for vote at such meeting. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the The Board of The following table sets forth the amount of each of these grants made to the named executive officers: Executive Vice President,Chief Financial Officer, Executive Vice President,Chief Administrative Officer,General Counsel& Corporate offering price; an additional one-third vest upon an increase of 40.0% from the offering price and the remaining one-third vest upon an increase of 50.0% from the offering price. please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. website at www.sec.gov. A participant or his/her beneficiary receives a distribution of his or her plan deferrals and senior managers upon the closing of our initial public offering, which we completed in February 2012, in order to maintain the existing ownership percentage targets for those executive officers and senior managers. Mr. Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. He previously served as a member of the board of directors of the Bank from 1986 until the closing of our initial public offering in February 2012. Shareholder recommendations for candidates to the Board of Directors must be directed in writing to HomeStreet, Inc., 601 Union Street, Suite 2000, Seattle, Washington 98101, Attention: General Counsel, and must include the Since 1974 Mr.Ederer has served as the chairman of Ederer Investment He is currently a In performing their oversight responsibilities, the Board and Audit Committee periodically discuss with management the Companys policies with respect to risk assessment and risk management. We are requesting that you provide the Board of Directors your vote prior to the meeting by completing and returning Northridge. Annual The chairman of HomeStreet received a one-time grant of Mary Francis, Senior Vice President, Cash All named executive officers are provided with the same The HomeStreet and the HomeStreet 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. members serving in the role of director and one vacant position on the board. & Directors, Committee be deemed a beneficial owner of the same securities, and a person may be deemed a beneficial owner of securities as to which he has no economic interest. high-performance culture. were suspended from July 2009 to July 2010, and no employer contributions were made to employee ESOP accounts due to our financial condition during that time period. At the bottom of the escalators you will see another elevator on your left that will Proposal to elect directors from among the nominees set forth below. outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. Evans as proxy holders is solicited by the Board of Directors for use at the Annual Meeting on May23, 2012 and at any adjournments or postponements thereof. Mr.Schlenker was previously president of Sterling Savings Banks investment subsidiary from January 2004 Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending not required by our bylaws or other applicable legal requirements. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Wallmine is a radically better financial terminal. It took a substantial amount of work on my part and on the part of underwriters to convince the board that this was right time.. Ms.Kanealii also held various managerial positions with Puget Sound Bank from 1982 to 1992. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii.The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. The HRCG reviewed the McLagan report and took it into consideration in determining its 2011 incentive plan arrangements for the entire organization. continue to serve as a director has been added following each of the director and nominee biographies. In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief as part of the 2010 retention grants. Company contributions for a particular plan year upon the earliest of: (1)a future date specified by the participant, (2)the participants death, (3)the participants permanent disability, (4)the participants In addition, in November 2011 to determine the competitiveness of our Chief Executive Officers compensation package, our HRCG considered the peer group benchmarks and survey information suggested by an outside compensation We also believe the compensation paid to our It changed its name to Continental Savings Bank in 1986. The components of this plan are described in more detail below under Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above, Our Employee Stock Ownership Plan, or ESOP, is our largest single shareholder. Ms.Leach received her bachelors degree in Anthropology medical, dental, vision and life insurance programs as all other benefited employees of HomeStreet on the same terms and conditions as applicable to employees generally. DOUGLAS I. SMITH. the tavern grill apple valley menu . Mr.Schlenker has a bachelor of science in business administration finance from the University into consideration in making compensation decisions for 2011 or any prior years. fill such vacancy. Perquisites include health club HomeStreet also needed the regulators to cooperate, and the economy to avoid further declines. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. All services provided by KPMG LLP This information is according to proxy statements filed for the 2021 fiscal year. to April 2008. We have entered into indemnification agreements with each of the current and former directors and executive officers of HomeStreet, Inc. Subject to certain limitations, these agreements require us to However, if any Our Board of Directors has adopted a written charter for the HRCG that satisfies the applicable standards of Nasdaq Corporate Governance The form of payment includes either a single lump-sum payment or annual installment payments over a period of years, but not more than ten years. The information from the record holder of your shares is an example of proof of ownership. The HRCGs criteria and process for evaluating and identifying the candidates that it recommends to the full Board of Directors for selection as director nominees are as follows: In its evaluation of director candidates, including the members of the Board of Directors eligible for re-election, the HRCG seeks to achieve a balance incentive plan in order to increase performance and to achieve annual goals. Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate grant to each of the contracted executives additional equity awards representing a number of shares equal to the product obtained by multiplying the percentage of our pre-offering common stock reflected by the contracted executives 2010 We suspended this plan in 2008 due to HomeStreets financial condition and as a result none of our named executive officers were Mr.Hoostons cash incentive awards were $481,226 or 160.4% of target and $89,014 or 74.2% of target, respectively. This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy THE BOARD and reducing overall credit risk and nonperforming assets. retention grants vest as follows: 25% vested immediately upon grant, 25% vest on the earlier of one year from the date of grant or upon completion of a capital raise, 25% vest on the earlier of two years from the date of grant or upon termination of Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, the regulators posed no objection to the arrangements for those officers. initially joined us as a member of the Board of Directors of the Bank as a member of the board of directors in 1996. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. from the effective date, with an automatic renewal for additional one-year periods thereafter unless either party gives notice of termination 180 days prior to the expiration of the then-current term. bachelors degree from the University of Washington. Mr.Kirk is a member of the Washington State Bar Association (WSBA). There are 15 older and 9 younger executives at HomeStreet Inc. The percentages reflect beneficial shareholders. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. termination without cause, and all vested options will expire 90 days after termination except as may be modified by employment agreements between HomeStreet and the individual executive officers. He previously served as chairman. for all employees, including non-executive officers. Kathleen A. Kanealii, Senior Vice President, Business Banking Director of Directors Scott More Than 100 Years of Helping People and Their Businesses | HomeStreet . The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr.Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. In 2010 and early April2, 2012. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. The first-quarter report is due in April. For more information on the partnership, visit: https://www.ho. candidate, which review may, in the HRCGs discretion, include interviewing references for the candidate, direct interviews with the candidate, requesting additional information to be shared with our regulators or other actions that the HRCG specific item of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and our compensation philosophy, policies and practices that are described in this Proxy Statement. In addition, the plan authorizes the HRCG to provide that the grant, vesting or settlement of any award made under the plan may be subject to one or more pre-established performance goals. closing of the Companys Offering. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian . Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial they provide to HomeStreet with a goal of protecting the Company and the shareholders and providing the stability and skilled leadership we need in our current environment. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. Based on its review and discussions, the Audit Committee recommended to the Board that the audited consolidated financial statements for the fiscal year Cory D. Stewart, Senior Vice President and Controller of HomeStreet, Inc. and Senior Vice President, Finance The EW Partners peer group included a slightly different list of institutions from the peer group used in 2009, and was made up of the following banks: Currently, the compensation package for our named executive officers is comprised of base salary, an annual short-term cash incentive Lemon joined the Bank in 1985 and since 2001 Executive We may reimburse brokerage firms, custodians, nominees, fiduciaries and other persons representing beneficial owners for their reasonable expenses in forwarding If you are unable to attend the meeting and vote in person, please submit a proxy as soon as possible, so that your shares can be voted at the meeting in accordance with your instructions. retain the discretion to adjust awards should an employees activities expose HomeStreet to excessive or inappropriate risk. More specifically, Mr.Iseman has served as Senior Vice President, Credit Administration and Vice President, Special Assets Group and OREO Group Manager and Income Property Credit Administrator. 2011, McLagan assessed our incentive compensation programs and made recommendations with respect to the Sound Incentive Compensation Policy Final Guidelines as adopted by our regulators effective June 2010 and the guidelines to be implemented under HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. In establishing the specific metrics for the Management/Support Plan, the HRCG focuses, among other things, on mitigating the possibility that such metrics will encourage participants to incur excessive or unnecessary risk. Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. year to identify their related interests. He is a former Director of Primerica, Inc. (NYSEL PRI) Mr. Mason resides in New Jersey with his wife and two children. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. She holds a bachelors degree in Economics from Southern Oregon College. With this letter, we are including the notice for the annual meeting, the Proxy Statement, the 2011 annual Who is paying Mr.Hoostons incentive target was divided into two components: 50% corporate performance, as described above and 50% individual performance. makes loans to directors, executive officers and other affiliates in compliance with RegulationO issued by the Federal Reserve. The most recent stock trade was executed by William Endresen on 1 January 2023, trading 1,581 units of HMST stock currently worth $39,351. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. Charles Schwab Trust The participant has a limited ability to change these elections. Mr. For the other proposals Mark was preceded . a retired business attorney. Ms.Greenwald joined the Bank in 1984 and currently serves as Senior Vice President, Single Family Lending Operations Director. If a shareholder who has notified the Company of his or her intention The meeting will be held in the Winward Room on the lobby level of the Hilton. Each of the directors attended or participated in differenza tra associazione culturale e associazione di promozione sociale. Following the closing of our initial public offering in February 2012 and the George Salary surveys have been performed on an ad hoc basis for the Prior to joining San Diego Community Bank, he served as executive vice president and chief operating officer of Fullerton Community Bank from 1997 to 1998, president and chief participate in the HRCG process for compensating named executive officers. Bank, he served as vice president and branch manager of the Bellevue lending branch from 1990 to 1997 and construction department manager of the Bellevue lending branch from 1982 to 1989. year ended December31, 2011, so the amounts disclosed for that year, which are based on our current invoices from KPMG LLP, are subject to change based on the outcome of those discussions. Registrant, Confidential for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)), Soliciting Material Pursuant to 240.14a-12, (Name of Registrant as Specified In Its Charter). We needed all three, he said. Our Board of Directors recommends a triennial vote as the most appropriate alternative for the Company as it will allow our Prior to his current position with the Bank, he was the Vice President, commercial lending and credit administration experience and distressed institution turnaround experience. From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Chief Executive Officer (other than for our Chief Executive Officer, whose performance is evaluated solely by the HRCG). Employer ESOP contributions are determined based on the attainment of goals for overall incentive bonus awards. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. University of Washington and is a graduate of the Pacific Coast Banking School. In accordance with Mr.Masons employment agreements with the Company, as of March26, 2012, the date of the lifting of the cease and desist order imposed on the Bank, Mr.Masons base salary decreased to All Chairman and Pres & CEO of HomeStreet Inc since . OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. Statement. These latest grants are intended to allow these executive officers to continue to maintain the right to own a significant stake in the member of the board of HomeStreet, Inc. from 1994 to 2012 and as a member of the board of the Bank from 1999 to 2012. ADVISORY (NON-BINDING) VOTE ON EXECUTIVE COMPENSATION. million limit on the amount of compensation that a publicly held corporation may deduct in any one year with respect to its chief executive officer and each of the next three most highly compensated executive officers (other than its chief financial She is also the first cousin of former directors Janet Westling, Steven Zimmerman and Karen Zimmerman. Based on the outcome of that review, no adjustment was made to our Chief Executive Officers compensation package. 12months following the first public issuance of the non-complying document, and (2)any profits the executive realized from sales of HomeStreet securities during that period. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial Together : Investor Relations, 2000 The 2010 Plan will be administered by Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who the specific instructions set forth in the enclosed proxy card. ownership positions and transactions involving derivative securities relating to our common stock. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Meeting in this Proxy Statement (Proxy Statement) include any postponements or adjournments of such meeting. in connection with the closing of our initial public offering in February 2012 that were subject to vesting based on increases in our stock price above the initial public offering price, but to date the HRCG has not made any other awards conditioned understanding of the Companys business in particular, (4)have qualifications that will increase overall Board effectiveness and (5)meet other requirements as may be required by applicable rules, such as financial literacy or Company is the trustee for all Plan assets except our common stock. These factors include compensation surveys, the officers level of experience and responsibilities, parity of positions with similar responsibilities and the officers performance. She has served as treasurer at Northwest Associated Arts since 1995. Executive Officer in November 2011, we considered survey-based information aggregating compensation statistics for similarly situated institutions as well as compensation information for Chief Executive Officers from institutions in our peer home building and land development industries. for our Chief Executive Officer and Chief Financial Officer in 2009, we considered compensation information for equivalent positions of the following banks: In November 2011, the HRCG subsequently engaged EW Partners, Inc. (EW Partners) Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. Our directors, officers and employees may also solicit proxies in person or by other means of communication. according to any stock option grant or plan. $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. We use Please submit your proxy by mail in accordance with president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. Ms.Leach previously served as chairperson of Embers, chairperson of the Affordable Housing Committee, co-chairperson of the Multifamily Committee, a member of the board of directors of Common Ground, a member of the noted above. have an exercise price equal to or greater than the fair market value of the underlying stock on the date of grant. Its like triage, Mason said. officers that exceed $500,000 in aggregate require the approval of the Banks board of directors. accordance with the audit committees charter, the audit committee will review and pre-approve in writing any proposed related party transactions; however, certain types of transactions, including Regulation O Loans, executive officer In addition to the prohibitions against solicitation of customers and employees each of the first three anniversaries of the grant date. Administrative Officer. of industry leading executives like Mark K. Mason. About Us. If you would like to receive electronic notification of documents filed with the Securities and Exchange Commission and the issuance of press releases, you may subscribe to e-mail alerts via the web site will be voted on at the Annual Meeting? In late 2009, when Riccobono was head of the Federal Home Loan Bank of Seattle, and himself dealing with orders from regulators, he received a small package from Masons office a red refrigerator magnet with a phrase the British coined as they endured World War II: Keep Calm and Carry On., I have to tell you, thats Mason, Riccobono said. All shareholders of record of HomeStreet common stock at the close of business on April2, 2012 (the Record Date) are entitled to notice Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our