HomeStreet reports Q2 core EPS 42c, consensus 60c
Total assets of $6.59B grew $185.4M, or 3%, from $6.4B at March 31, 2017. "Second quarter 2017 results demonstrated the benefit of our investment in growth and diversification of our business lines," said Mark K. Mason, Chairman, President and Chief Executive Officer. "While the Mortgage Banking segment continues to suffer from a limited supply of available housing in our markets, this effect was partially offset by strong growth in our Commercial & Consumer Banking segment. Loans held for investment increased by 5% from the first quarter of 2017, and total deposits increased by 3%, with business deposit balances increasing by 6% during the quarter. During the quarter we opened retail deposit branches in Baldwin Park, California, and Redmond, Washington. We're proud to report that as a result of this growth, the net interest margin increased by six basis points from the first quarter of 2017. Asset quality also remains strong with nonperforming assets declining to 0.30% of total assets, representing the lowest absolute and relative levels of problem assets since 2006."