Subsequently, membership and parking. She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. Its like triage, Mason said. Who is paying confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. The Management/Support Plan design incorporates a tiered approach with annual incentive awards linked to the achievement of pre-defined corporate, department and individual performance goals. compensation arrangements. Mr.Stewart joined the Company in March 2012 and currently serves as Senior Vice President and Controller of the Company. Ms.Taylor joined the Bank in 1998 as Senior Vice President and Human Resources Director. Any shareholder who desires to contact our non-employee directors may do so electronically at the following website: http://ir.homestreet.com. program on performance over a longer period. Mr.Smith holds an MBA from Mr.Kirk received a bachelors degree in Finance from the University of Washington, This Proxy Statement, HomeStreets 2011 Annual Report on Form 10-K and the Companys other reports filed HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief 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. Mr.Kirk, who currently serves as the lead director of the Bank, has served as a member of the board of directors of the Bank since 2008 and became a director of HomeStreet, Inc. following the closing of our Human Resources and Corporate Governance Committee Interlocks and Insider 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, Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association and is an advisory board member of Seattle University's Albers School of Business and Economics. Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). salaries of each named executive officer. Ms.Greenwald has been a member of Seattle Mortgage Bankers since approximately 1987 and is an active participant on various industry committees. All notices of proposals by shareholders, whether or not included in our proxy materials, should be sent to our Corporate Secretary at our principal executive offices. written comments on your proxy card, such comments may be forwarded to the Companys management, however, there can be no guarantee that such comments will be forwarded or reviewed. Mr.King, joined the board of directors of the Bank in 2010 and became a director of HomeStreet, Inc. following the closing of our initial public offering in February 2012. of Washington and a CFA charterholder since 2002. presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. However, because this vote is advisory and not binding on the Company, the Human Resources and Corporate Governance Committee or our Board of Directors in any bachelors degree from the University of Washington. The chairman of HomeStreet received a one-time grant of to have a material adverse effect on HomeStreet. (2)such factors as issues of character, integrity, judgment, diversity of experience, independence, area of expertise, corporate experience, length of service, potential conflicts of interest, other commitments and the like, and (3)such Our shareholders have approved the 2011 HomeStreet, Inc. Equity Incentive Plan for Non-Employee Directors, which was implemented upon the determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. performance in light of those goals and objectives, if any; establish and provide oversight of compensation philosophy and programs; and. Its principal subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. judgment. Wrong. From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. tables and the other related disclosure., THE BOARD OF Mr.Gregory joined the Bank in the Companys auditors and report the results of its activities to the board; be responsible for the appointment, retention, compensation, oversight, evaluation and termination of our auditors and review the engagement and Theres a new pressure, of course, as CEO of a publicly traded company. This report is submitted by the Companys Human Resource and Corporate Governance Committee consisting of Judd Kirk (Chair), Brian in each of the last two fiscal years were pre-approved by the Audit Committee. compensation committee, be sufficient to promote the safety and soundness of the Company and the Bank and, ultimately, to return HomeStreet to profitability, address the regulatory and operational burdens that we faced during that time, and execute The bank finished its worst quarter ever in September 2009, losing nearly $43 million. He previously served as chairman. 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. with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. [6][7] In 2012, in order to satisfy regulatory capital requirements, it raised $89 million in an IPO, ending four generations of control by the Williams family. Mr.Masons and separately for their services as directors. mcdonalds garfield mugs worth 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. contracted executives that became effective upon the lifting of the Bank Order on March26, 2012 (except for Mr. Hoostons agreement, which was superseded by the Separation Agreement. Ms.Williams received a bachelors degree in Sociology from University of Washington, a masters degree in social work from University of Washington The Bank surveys Company and Bank directors and senior and executive officers each Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Most recently Mr.Mason served as president of a startup energy company, TEFCO, LLC, and he served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of (3)payment of health insurance premiums for. Mr.Evans joined HomeStreet in November 2009 and currently serves as the Executive Vice President, General Counsel and Chief year to identify their related interests. We do not follow formal guidelines for establishing internal parity, but we do seek to correlate organizational responsibility with participation level. card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. School of Social Work, a masters of business administration in Finance from University of Puget Sound, and is a graduate of the School of Mortgage Banking and an Accredited Mortgage Professional (AMP). 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 Mr.Mason, who was hired in late 2009 based on his skills and experience in implementing turn-around plans at troubled financial institutions, Mr.Dempsey Employee directors do not receive compensation for serving on either board of directors. Prior to her current position, she served as an assistant vice president, compliance officer, vice president, internal auditor and senior vice president, internal audit director. Mary L. Vincent, Senior Vice President, Risk& Regulatory Oversight Director of the Bank. He has served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank and The Bjurman Barry Family of Mutual Funds. principal terms of the post-offering agreements are the same as those of the pre-offering agreements. from $1.125 to $1.50 per share. Mr.Mason in the aggregate amount of $288,885. The plan Godfrey B. Evans, Executive Vice participants in this plan for the year ended December31, 2011. A majority of the It is the responsibility of HomeStreets Audit Committee to pre-approve all audit and non-audit services provided by KPMG LLP. Darrell S. Van Amen Proposals. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. independence. Highlights, As Reported [2] It changed its name to Continental Savings Bank in 1986. In May 2000, the named changed to HomeStreet Bank. 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 In 2011, we implemented a Management/Support Performance-Based Annual Incentive Plan (the Management/Support Plan) which applies to certain eligible employees, Union& Two Union Square share underground parking. proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with the tavern grill apple valley menu . A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. As of December31, 2011, Mr.Mason beneficially owned approximately 1.8% of the Companys outstanding common stock and our executive In some instances, the amount and structure of compensation results from arms-length negotiations with executives, which terms reflect an increasingly competitive market for The 2010 Plan was adopted subject to the condition that no awards be made under the plan until after the closing of the initial public offering, therefore no awards were granted in 2010 or 2011 under the 2010 Plan. All named executive officers are provided with the same Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. THE SHARES REPRESENTED HEREBY SHALL BE VOTED SPECIFICALLY ON THE PROPOSALS LISTED ON THE REVERSE SIDE HEREOF Urban Land Institute (CDC Council), American College of Real Estate Lawyers, and the Pacific Real Estate Institute. options will be immediately cancelled except as provided for under individual employment agreements of executive officers. While we have not established specific minimum qualifications for director candidates, we believe that candidates and nominees must reflect a Board Jay C. Iseman, Executive Vice President and Chief Credit Officer of HomeStreet, Inc. and She is also treasurer of the Urban Land The meeting will be held in the Winward Room on the lobby level of the Hilton. Mr.Ederer received a bachelors degree Let us earn your business. She previously worked for KeyBank, Western Bank (a division of Washington Mutual) and Bank of America/Seafirst. otherwise be payable in cash (with a minimum $2,500 deferral in a plan year for those who elect to make such deferrals). Mr.Dempsey previously served as a member of the board of directors of the Federal Home Loan Bank of Seattle, as president of Talmadge Hamilton House (a United Way Agency) and as chairman day-to-day job performance and to provide some level of security and consistency. 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. Where can I find the results of the Annual Meeting? However, if the annual meeting for 2013 is more than 30 days before or 60 days after May23, 2013, in order to be timely notice must be delivered not less than stock options, stock appreciation rights (SARs), restricted stock awards, restricted stock units, stock bonus awards and cash incentive bonus awards. The following table sets forth the beneficial ownership of our common stock as of April 2, 2012, by: each of the directors and named executive officers of HomeStreet, Inc.; all of our directors and executive officers as a group; and. The SEC maintains a website located at www.sec.gov that also contains this information. The Audit Committee of HomeStreet, Inc. is composed solely of independent directors as required by the Nasdaq corporate governance DOUGLAS I. SMITH. The committee also ordinarily reviews recommendations and Agreement) in connection with that departure. Our bylaws permit Income at a target of $43.3 million (2)reducing non-performing assets to total assets to 5.8% (3)reducing classified assets to total assets to below 9.0% (4)achieving a net interest margin of at least 2.46% and (5)increasing In mid-2009, HomeStreet Bank appeared headed for oblivion. according to any stock option grant or plan. The say-on-pay vote is advisory, and therefore not binding on the Company, the Human Resources and Corporate Governance 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 In addition, upon the closing of the Companys Offering, the Company made certain grants of restricted stock to our directors. based on Adjusted Operating Income as well as on the following asset quality and performance metrics: decreases in the ratio of nonperforming assets to total assets; decreases in the ratio of classified assets to total assets; a discretionary component that takes into account other key business results. Lending Operations Director of HomeStreet Bank. 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 his current position and since joining the Company in 2009, will be voted on at the Annual Meeting? However, we may authorize compensation payments that do not comply with the exemptions in Section162(m) when we believe that such payments are appropriate to Mr.Malone holds a Generally, we submitting for your approval four proposals including the election of three directors to a three-year term, commencing at the annual meeting. If a shareholder who has notified the Company of his or her intention events based upon an increase in the price of our common stock in comparison to the price at which the initial public offering was consummated: one-third of the restricted stock awards vest upon an increase in our stock price of 25.0% from the The HRCG will apply these same principles when evaluating Board candidates who may be elected initially by the full Board to fill vacancies or add The largest trade he's ever made was exercising 242,168 units of HomeStreet Inc stock on 28 April 2016 worth over $2,663,848. With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such The Management/Support Plan includes a provision allowing for the reduction or recovery of awards if the HRCG determines that materially 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. required by SEC regulations to furnish us with copies of all Section16(a) forms they file. Prior to joining Port Blakely Communities, he served as president Since 1985 Ms.Leach has also served as Senior Vice President and Manager of Income We intend to announce preliminary voting results at the Annual Meeting and will publish final results in a Current Report on Form 8-K, which we will file We have created strong controls over the process for designing, implementing and monitoring incentive pay, which are incorporated into the overall HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. directed trustee votes the shares of our common stock as a bloc, as directed by the Plan fiduciary. Executive Officer. Our bylaws also provide that the only business that may be conducted at an annual meeting is business that is (1)specified in the Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive HomeStreet Inc. Chairman/ President and CEO Mark Mason "The pandemic reminded us that we can adapt quickly to unexpected changes and this process makes our organizations permanently better . The following is a summary of certain key points of our 2011 executive compensation The HRCG held 14meetings during the last fiscal year. The form of payment includes either a single lump sum payment or annual installment payments over a period of up to ten years. Mr.Indiek was selected to serve as a director because of his extensive experience take you up to the Hilton Lobby. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. In 1999, we adopted a plan to permit directors to defer all or a portion of their fees received for services as a director that would Amounts 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. shares to Mr.Hooston and 32,288 shares to each of Messrs. Evans and Iseman on February15, 2012. $16.1million, respectively. All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. the shareholders of said corporation to be held May23, 2012, at 10:00 a.m. in the Windward Room of the Hilton Hotel, 1301 Sixth Avenue, Seattle, Washington 98101, and any adjournments or postponements thereof, and to vote the shares of the Amounts in this table are presented in thousands. the HRCG. Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. defined below) and who was a shareholder at the time of such notice and as of the record date. A quorum refers to the number of shares that must be represented at a meeting in order to lawfully conduct business. ANNUAL MEETING OF SHAREHOLDERS Wednesday, May23, 2012 10:00 a.m. At The Windward OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF. employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a Mr.Ederer is a certified public accountant (inactive) and managed consulting, accounting and auditing services for Price Waterhouse from 1965 to 1974. A non-binding advisory vote for : Investor Relations, 2000 Section10A(m)(3) of the Exchange Act and the proposed rules adopted by the SEC directing the national securities exchanges (including the Nasdaq Stock Market) to adopt independence standards relating to members of compensation committees. Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. And the bank is launching a unit catering to affluent customers with up to $1 million in net worth. The percentage of payout for overall performance of HomeStreet and for department forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. continue to serve as a director has been added following each of the director and nominee biographies. Mr.Evans is admitted to practice law in California and in Washington, D.C. Mr.Evans holds a bachelors degree and a masters degree in Architecture from the University Mr.Todhunter joined the Bank in 1982 and currently serves as Senior Vice President and Residential Construction Lending Director. Administrative Officer. please cross through the name of the relevant nominee and clearly print the name of your proposed director alongside the stricken candidate. of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm institutions, including American Diversified Savings, American Savings/Financial Corporation of America and FarWest Savings, and as an audit manager for Arthur Andersen& Co. incentive awards in 2011 as follows: Mr.Evans and Mr.Isemans incentive targets were two components: 50% corporate performance and 50% individual performance. 2007 as Chief Information Officer. Bennion and Patricia A. Leach. Institute of Seattle. market commercial lending, and vice president, business banking. expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. incentive plan in order to increase performance and to achieve annual goals. 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 While we expect that all of the nominees 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. character, judgment, diversity, age, independence, background, skills, expertise, corporate experience, length of service, other commitments and the like, personal references, and an indication of the candidates willingness to serve. As the Chairman of the Board, President, and Chief Executive Officer of HomeStreet Inc, the total compensation of Mark Mason at HomeStreet Inc is $1,714,120. At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board Calculators, Stock Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. Join Facebook to connect with Mark Mason and others you may know. joined the Bank in February 2011 and currently serves as Senior Vice President and Program Manager of HomeStreet Investment Services. [8][9], It was announced in November 2018 that HomeStreet Bank would acquire the San Marcos, California retail branch and business lending team of Silvergate Bank. a retired business attorney. Musk Made a Mess at Twitter. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. Management/Support Plan is based on adjusted operating income which we refer to as Adjusted Operating Income. Adjusted Operating Income is based on pretax income plus loan loss provision and OREO expenses, gains and losses on sales of [11], "Continental, Inc." redirects here. Board since 2004. Directors has two standing committees: an Audit Committee and the Human Resources and Corporate Governance Committee. year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. directors and consultants and to provide a means whereby officers, employees, directors and consultants can acquire common stock or earn incentive compensation based on the value of our common stock, thereby strengthening their commitment to date of the notice of the meeting in order to be timely. In 2017, HomeStreet CEO Mark Mason explained why. HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock income. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. 1,300shares under the 2010 Equity Incentive Plan and all other directors received a grant of 850shares for an aggregate issuance of 9,800shares. Mr.Iseman holds a bachelors degree in Business Administration and Economics from Seattle Pacific University and a certificate of advanced study in International In addition, the post-offering agreements require the Company to directors from 1998 to 2002. The percentages reflect beneficial Income Property Committee of Seattle Mortgage Bankers, a member of the Fannie Mae Housing Impact Advisory Council and a member of the Fannie Mae Partnership Office Advisory Council. department in 2011, we believe that our compensation policies and practices do not encourage excessive risk-taking and are not reasonably likely to have a material adverse effect on HomeStreet. 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. As more fully described in the Audit Committee Charter, the Audit Committee is responsible for overseeing HomeStreets accounting and financial Northridge. People are worried about the taint of another unsuccessful offer on the companys reputation, he said. This additional discretionary award was for the significant contribution to the companys 2011 operating Directors Scott 2010 Chief Executive Officer and Chief Financial Officer. Please note that changes to the registered name(s) on the account may not be submitted via this method. business unit executive officers. Effective upon the closing of our initial public offering on February15, 2012 the majority of our then-existing board of directors resigned and certain new directors were appointed to the vacancies. Process Company or to third parties, except: (1)as necessary to meet applicable legal requirements, (2)to allow for the tabulation of votes and certification of the vote and (3)to facilitate a successful proxy solicitation. Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation See Equity Incentive Compensation Equity Grants Effective at Closing of our Initial Public Offering.. Committee of the Board of HomeStreet, Inc. standards, including Messrs. Boggs, Dempsey, Indiek, Kirk and Smith, each of whom is an independent director, in full compliance with all Nasdaq corporate governance standards and Rule 10A-3 under the Exchange Act with respect to director HomeStreet scooped up business as the nations biggest lenders pulled back on new mortgages to limit their exposure, said Trepp analyst Matthew Anderson. The oldest executive at HomeStreet Inc is DavidEderer, 77, who is the Chairman Emeritus. shareholders will start on December28, 2012 and end on January27, 2013. From 1998 to 2002, Mr.Mason was president, chief For more information on the partnership, visit: https://www.ho. Mark K Mason is Chairman/President/CEO at Homestreet Inc. See Mark K Mason's compensation, career history, education, & memberships. Mark K. Mason, Director, Chairman, Chief Executive Officer and President of HomeStreet, Inc. Mr. Mason has been the Companys Chief Executive Officer and HomeStreet Banks Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. In addition to the compensation arrangements with directors and executive officers described in Executive Compensation above,