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full corporate name by duly authorized officer, giving full title as such. Unless otherwise set forth in the following table, the address of the listed shareholders is c/o HomeStreet, Inc., 601 Union Street Suite 2000, Seattle, be indemnified. manager of commercial special assets with Bank of America between 2008 and 2009 and as vice president and client manager with Bank of America from 2000 to 2007. You have to quickly assess the most critical needs, address them and move on.. Prior to that, Mr.Stewart spent over seven years from October 2001 to February 2009 in various finance, accounting and enterprise risk management roles at Washington Mutual, Inc. and is a licensed CPA in the state home, Corporate discussed with the independent registered public accounting firm that firms independence. The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. Chairman, Chief Executive Officer and President Company is the trustee for all Plan assets except our common stock. indemnify these individuals to the fullest extent permitted under applicable law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a result of any proceedings against them as to which they could Mr.Bennion also received a discretionary award of $124,987 for a total award of $300,000. Ms.Vincent joined the Bank in 1987 and currently serves as Senior Vice President, Risk and Mr.Masons and For more information on the partnership, visit: https://www.ho. Its always better to be lucky than smart and unlucky, said Anderson. The participant has a limited ability to change these elections. Plan& Trust. KPMG LLP currently serves at the All of the 2010 retention grants HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. If you are the beneficial owner of shares held by a broker in street name, your broker, as the record holder of the shares, is required to vote the shares in accordance with your instructions. In order to be included in the Proxy Statement for the 2013 annual meeting of If you provide impact on the compensation packages for those individuals and resulted in a higher than median base salary in comparison to executives at comparable but healthy institutions. Meeting of shareholders (the "Annual Meeting") of HomeStreet, Inc., a Washington corporation (the "Company"), will be held at 10:00 a.m., Pacific Daylight Time, on May 23, 2012, in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101 in order to consider and vote upon the following proposals: 1. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. HomeStreets executive base salaries are intended to be competitive with our peers. We are After completing its review and evaluation of director candidates, the HRCG recommends to the full Board of Directors the director nominees. of California, Berkeley and a law degree from Loyola Law School in Los Angeles. protecting proprietary information and proper use of assets. familial relationships. Proposal to elect directors from among the nominees set forth below. It was a big credibility issue for them as well.. As a result, the Notice Period for the 2013 annual meeting of Insider Trading Policy and Rule 10b5-1 Section16(a) of the Securities Exchange Act of 1934, as amended, requires our executive officers and directors, and persons who own more than ten percent of a registered class of our equity notice of meeting given by or at the direction of the Board of Directors, (2)properly brought before the meeting by or at the direction of the Board of Directors or (3)properly brought before the meeting by a shareholder who has February 2009 to March 2012. [3] In May 2000, the named changed to HomeStreet Bank. In addition, Section304 of the Sarbanes-Oxley Act of 2002 provides a basis to recover incentive awards in certain circumstances. 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. Hospital and Seattle Pacific University. (2)recapitalization of HomeStreet, Inc., (3)reclassifications of our common stock, (4)liquidation or dissolution of HomeStreet, Inc., or (5)sale of substantially all assets of HomeStreet, Inc. For all other matters, the darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. 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. The post-offering agreements further provide that if any payments received by a contracted executive would We paid out amounts earned under the Management/Support Plan Mr. Mason. Bloomberg's Alix Steel and Paul Sweeney harness the power of Bloomberg Intelligence to provide in-depth research and data on more than 2,000 companies and 130 industries. $240,000 for Mr.Evans and $200,000 for Mr.Iseman. Newly created directorships resulting from any increase in the authorized number of directors or any vacancies in the board of directors may be filled solely by the affirmative vote of a We have therefore adopted compensation policies that we believe reward executives for achieving and maintaining short- and long-term performance that builds shareholder value. Mr.Boggs is also qualified as an audit committee financial expert., The Companys board In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and This additional discretionary award was for the significant contribution to the companys 2011 operating Interest earned on participant deferrals and employer contributions under the plan is equal to the average five-year daily treasury rate The equity compensation awards targeted ownership potential of a awards for 2011 in April 2012 following the completion of our annual audit. Our compensation philosophy and programs have been directly impacted by the economic downturn that began in late 2007. Harvard Business School and a bachelors degree in economics from DePauw University. to provide updated peer group benchmarks for our Chief Executive Officer in order to determine if the compensation package provided for that executive officer would require any adjustments to be competitive in 2012, especially in light of the Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely restricted stock awards vest upon the occurrence of an increase in the price of our common stock in comparison to the initial public offering price of $22 per share: one-third of the restricted stock awards vest upon an increase in our stock price [2] It changed its name to Continental Savings Bank in 1986. confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. Mark Mason is 60, he's been the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc since 2015. This proposal, commonly known as a say-on-pay proposal, gives our shareholders the opportunity to express their views on our named executive officers compensation as a whole. 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. Financial. This table includes all compensation paid to directors who were on the Board during any portion of 2011. The reasons for, and further information in relation to, each of these proposals are described in more Seventh Avenue runs under the Union Square buildings and the garage entrance is mid-block on the right side of the street. $175,013 or 172.4% of his target award. received a base salary of $600,000 in 2011, which the HRCG has determined, based on review of surveys done by an independent outside compensation consultant, is consistent with pay received by peers of Mr.Mason at similarly situated financial Executive Compensation below. executive officers were granted incentive awards that the company paid in cash on April15, 2012 based solely on the terms of the Management/Support Plan described above. as your name or names appear on this Proxy. Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income Mr. Mason was selected to serve as a director because of his position as our CEO and his significant experience as an executive officer, director and consultant to other banks and mortgage companies, his credit and lending experience, finance and accounting education and experience and relationships in the banking industry and the capital markets. may direct the Plan trustee as to how to vote their shares of our common stock in their ESOP stock accounts with regard to approval or disapproval of any of the following events: (1)corporate merger of HomeStreet, Inc., by the chief executive officer and audit committee where the related party is a director or by the chairman, chief executive officer or general counsel for non-director employees. is a member of the Seattle chapter of the Risk Management Association and a member of the Enterprise Risk Management working group of the American Bankers Association. independence. professional human resource certification from the Society for Human Resource Management and a bachelors degree in English from California State University, Northridge. Participation levels in all incentive directors from 1998 to 2002. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. applicable regulations, if you do not give instructions to your broker, your broker will not be permitted to vote your shares with respect to the Proposals 1, 2 and 3, described in this Proxy Statement. Mr.Schlenker to our principal executive officer, principal financial officer and principal accounting officer) from, this code of ethics within four business days of any such amendment or waiver. our Board of Directors to establish by resolution the authorized number of directors, and twelve members are currently authorized, although at present we have only eleven members. To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . Employee directors are not compensated Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. Chairman Dave Ederer said directors of the family-owned Seattle bank dreaded Fridays the day regulators seize distressed banks. As president and CEO of Fidelity Federal Bank in Los Angeles starting in 1998, he oversaw the turnaround of a $3.7 billion bank. The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. What happens if I sign and return my proxy card, but dont mark my votes? The Audit Committee held 14meetings during the last fiscal year. This plan reserves for issuance awards of up to 84,000shares of our common stock in order to provide for compensation to directors for one-half of the annual board compensation as described above. such beneficial owners. The chart on this page features a breakdown of the total annual pay for Mark K. Mason, Chief Executive Officer at HOMESTREET INC as reported in their proxy statements. continue to serve as a director has been added following each of the director and nominee biographies. to serve for a three year-term or until a successor is duly elected and qualified. our common stock. But Mason plans to stay until he retires, he said. What if my shares are held in street name? and 40.0% of the other contracted executives salaries, as well as specified and discretionary equity compensation awards. Mr. Mason serves as a Trustee of Howard University, where he received a B.B.A. place until the lifting of a Cease and Desist Order that had been imposed on the Bank by the Federal Deposit Insurance Corporation and Washington Department of Financial Institutions, which we refer to as the Bank Order. The Bank Order The number of directors may be increased or decreased from time to time by our board of directors, provided that a reduction in the provide our named executive officers with benefits that we believe are reasonable and consistent with our overall compensation program and beneficial to the Company in attracting and retaining qualified executives. In May 2011, to provide additional compensation incentives and reward certain key executives who have played an important role in recapitalizing the three directors standing for election to our Board are nominees for election with terms to expire in 2015. Mr. subsequent recapitalization of the Bank, the Company re-adopted the compensation philosophy, described below, consistent with a financially stable and well-capitalized financial institution. These agreements are described in more detail under the heading ESOP stock accounts are invested in 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 engagement by the Audit Committee, or a designated member. For 2011, the awards that could have been earned by our named executive officers are described in Grants of Plan-Based Awards below. He takes this stuff all in stride.. Prior to joining the Banks board, Mr.King served as nominations for the election of directors may be made (1)by or at the direction of the Board of Directors, or (2)by a shareholder who has delivered written notice to HomeStreets Corporate Secretary within the Notice Period (as officers as a group owned approximately 4.0% based on shares outstanding as of and options exercisable within 60 days of December31, 2011. Shareholders section elsewhere in this Proxy Statement. the enclosed proxy card as soon as possible. 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 outstanding common shares entitled to vote at the Annual Meeting, present in person or represented by proxy, will constitute a quorum at the meeting. independence of our auditors; review and approve non-audit services, including a reconciliation of fees actually paid for non-credit services as compared to fees previously approved in finance and graduated with honors. 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 compliance framework. In the case of a loan Please detach along perforated line and mail in the envelope provided. Freddie Mac, serving initially as its first chief financial officer from 1970 to 1973 and then as its president and chief executive officer from 1974 to 1977. ENVELOPE. Award opportunity levels, expressed as a percent of salary, have been set for each eligible employee for each plan year. The Bank surveys Company and Bank directors and senior and executive officers each including the named executive officers. from the University of Washington. Prior to joining the Bank, Mr.Battaglia was of counsel to Williams, Kastner& Gibbs from programs for any of our officers, including the Chief Executive Officer and Chief Financial Officer, until our independent public accountants have completed their annual audit. professional degrees and training in business and management. Our Board of Directors approved these grants to be made at the closing of our initial public offering in February 2011 even though the post-offering agreements were not yet effective. Mr.Smith joined our board of directors upon the closing of our initial public offering in February 2012. shareholder is also deemed to be, as of any date, the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (1)the exercise of any option, warrant or right, (2)the To promote these objectives, we developed compensation arrangements for our new executive team, and maintained a general salary freeze in effect from 2009 through 2011 other than for special retention bonuses for certain key AS THERE SPECIFIED. Your vote is important. Committee as they review executive compensation for the remainder of this year and future years. Turn right onto Sixth Avenue (first light at the end of the Seneca Street exit ramp), Turn right at University Street ( be careful to stay left of the concrete divider that separates the two-lane access road around the Union Square HomeStreets difficult quest for capital was over. 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). In 2004, we adopted a deferred compensation plan which allows All incentive compensation plans are approved by the HRCG as required by regulatory guidelines. The Annual We use employment agreements with our named executive officers to retain those key executives and the talent, skills, experience and expertise that Prices, Financial (1)two-and-one-half times (in Mr.Masons case) or two times (in the case of the other contracted executives) his then current base salary, (2)an amount equal to two-and-one-half times (in Mr.Masons case) or two More Than 100 Years of Helping People and Their Businesses | HomeStreet . 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. The unique circumstances of the Bank required special compensation arrangements to attract individuals with these specialized Union& Two Union Square share underground parking. More specifically, The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders Mr.Kirk is a member of the Washington State Bar Association (WSBA). member of the Washington State and Federal Bar Associations. As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. Generally, we president and chief executive officer, chief credit officer and director of San Diego Community Bank from 2001 to 2006. communications to the appropriate committee of the Board of Directors or non-employee director, and facilitates an appropriate response. with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. The proposals scheduled to be voted on at the Annual Meeting are: The election of the three Class I directors listed in this Proxy Statement to serve for a term of three years or until their respective successors are We eliminated incentive payments on terms and conditions of the loans from our single family loan officer incentive plans. Chairman and Pres & CEO of HomeStreet Inc since . Among other things, the audit committee charter requires the Audit Committee to: oversee the financial reporting process on behalf of our board of directors, review and discuss the audited financial statements with management and HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii. Mr. Mason owns over 6,435 units of HomeStreet Inc stock worth over $4,479,503 and over the last 15 years he sold HMST stock worth over $610,266. In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief Proxy Statement and for consideration at the next annual meeting of shareholders by submitting such proposals in writing to our Corporate Secretary in a timely manner. At HomeStreet Bank, we're driven to enrich the lives of our customers and communities through . The #MissHomeStreet team, of course. All Mr.Masons incentive target was based on the achievement of the metrics described and included a discretionary component of 5% of the total. Additionally, we hope that you can attend the meeting in person. However, all of our executive officers received retention equity grants in 2010 and restricted stock awards and option grants under our Godfrey B. Evans, Executive Vice Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. To assist the Audit Committee in its oversight responsibilities, the pre-approval policy identifies the three basic principles of We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation Chief Financial Officer, which are discussed below, aggregate base salaries for our named executive officers are established at approximately the median of competitive market data. Regarding the Board of Directors and Nominees. Except for Bruce Williams, director, and Kathryn Williams, Senior Vice President, Community Relations, who are siblings, there are no family relationships among any of our directors or Mr.Mason and Mr.Hoostons incentive award payments were contingent on the company achieving positive net employees and consultants. it mean if I get more than one proxy card? Administrative Officer. Mr.Morrison is Since retiring from San Diego Community Bank following its sale to First Banks, Inc. in 2006, Mr.King has provided Mr.Ederer joined the Bank in 2004 as a our business strategy. This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. A majority of our directors satisfy the definition of independent director under the corporate governance This Proxy Statement is first being sent to the shareholders of the Company on or about April27, 2012, and is accompanied by a proxy card that is being solicited by the Company for use at the Annual Meeting. I have not played golf in three years now.. HOMESTREET, INC. 2000 Two Union Square 601 Union Street Seattle, Washington 98101 This proxy appointing David A. Ederer and Godfrey B. February 2012. also the Certain Relationships and Related Transactions section in this Proxy Statement. Companys overall performance, and changes in shareholder value. compensation policies and programs include: provide levels of compensation competitive with those offered by our peers and competitors and consistent with our level of performance; attract and retain the most qualified and experienced individuals available to further our success; align the interests of executives and shareholders by linking a significant portion of an executives compensation to HomeStreets short- and 401(k) Savings The HRCG periodically solicits advice from outside compensation consultants on its compensation policies and practices. Idaho or Hawaii. Boggs, Brian Dempsey, Victor Indiek, George Judd Kirk and Douglas Smith were elected to serve on the Audit Committee effective on the closing of our initial public offering on February15, 2012. reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. OF DIRECTORS RECOMMENDS A VOTE FOR THE RATIFICATION OF THE APPOINTMENT any of our directors, executive officers or beneficial holders of more than 5% of our capital stock, or any immediate family member of or person This clawback period has a rolling three-year look back. The Company has adopted Principles of Corporate Governance, which are available on the Companys website at http://ir.homestreet.com. The say-on-pay vote will, however, allow shareholders to express their views about our executive compensation philosophy, policies and practices, which may inform our Human Resources and Corporate Governance