HOMESTREET, INC. HMST Income Statement

Homestreet, inc. (HMST)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Interest income:
Loans
59,114	61,443	64,803	67,015	62,931	62,070	58,624	56,168	51,488	33,094	56,547	51,198	49,506	50,919	49,752	47,262	42,734	41,018	41,012	38,944	31,647	28,242	25,763	23,419	22,683	21,522	19,425	17,446	18,049	18,713	18,512	17,351	16,481	17,586	17,593	17,947	18,668
Investment securities
4,387	5,204	4,879	4,884	5,564	5,979	5,580	5,527	5,559	5,438	5,264	5,419	5,632	5,863	5,476	4,002	3,053	3,164	2,754	3,278	2,394	2,366	2,565	2,664	2,970	2,839	3,895	2,998	2,659	2,187	2,517	2,449	2,238	1,793	1,422	1,848	1,858
Other
248	120	395	180	188	204	76	123	64	-209	170	125	136	80	102	27	267	256	224	218	205	172	150	142	157	61	28	24	30	26	24	56	137	203	117	73	84
Total interest income
63,749	66,767	70,077	72,079	68,683	68,253	64,280	61,818	57,111	38,323	61,981	56,742	55,274	56,862	55,330	51,291	46,054	44,438	43,990	42,440	34,246	30,780	28,478	26,225	25,810	24,422	23,348	20,468	20,738	20,926	21,053	19,856	18,856	19,582	19,132	19,868	20,610
Interest expense:
Interest Expense, Deposits
14,783	18,635	20,502	16,940	14,312	13,359	11,286	9,562	7,788	6,402	6,020	5,867	5,623	5,629	5,362	4,449	3,569	3,145	3,069	3,005	2,582	2,351	2,364	2,356	2,360	2,338	2,222	2,367	3,489	3,756	3,908	4,198	4,879	5,388	5,848	6,538	7,041
Federal Home Loan Bank advances
1,310	564	501	3,635	4,642	4,088	3,277	2,780	2,229	-550	3,405	2,368	2,401	1,544	1,605	1,462	1,419	1,192	958	906	612	614	509	444	413	419	434	387	292	281	297	535	675	699	855	959	1,308
Federal funds purchased and securities sold under agreements to repurchase
458	227	39	463	304	159	83	24	32	0	0	5	0	-	2	0	-	0	0	3	5	15	6	1	0	-	0	11	-	-	19	50	-	-	0	0	-
Long-term debt
1,590	1,655	1,698	1,725	1,744	1,706	1,695	1,662	1,584	1,554	1,520	1,514	1,479	1,469	1,440	823	311	289	278	272	265	269	271	265	315	272	274	283	1,717	292	305	271	465	460	458	457	671
Other
174	174	203	129	124	31	79	45	30	-265	196	120	120	144	119	75	64	72	51	24	48	29	20	12	10	11	6	5	5	5	4	3	4	-	1	0	-
Total interest expense
18,315	21,255	22,943	22,892	21,126	19,343	16,420	14,073	11,663	7,141	11,141	9,874	9,623	8,788	8,528	6,809	5,363	4,698	4,356	4,210	3,512	3,278	3,170	3,078	3,098	3,040	2,936	3,053	5,503	4,335	4,533	5,057	6,023	6,562	7,162	7,954	9,020
Net interest income
45,434	45,512	47,134	49,187	47,557	48,910	47,860	47,745	45,448	31,182	50,840	46,868	45,651	48,074	46,802	44,482	40,691	39,740	39,634	38,230	30,734	27,502	25,308	23,147	22,712	21,382	20,412	17,415	15,235	16,591	16,520	14,799	12,833	13,020	11,970	11,914	11,590
Provision for credit losses
14,000	-2,000	0	0	1,500	500	750	1,000	750	0	250	500	0	350	1,250	1,100	1,400	1,900	700	500	3,000	500	0	0	-1,500	0	-1,500	400	2,000	4,000	5,500	2,000	0	0	1,000	2,300	0
Net interest income after provision for credit losses
31,434	47,512	47,134	49,187	46,057	48,410	47,110	46,745	44,698	31,182	50,590	46,368	45,651	47,724	45,552	43,382	39,291	37,840	38,934	37,730	27,734	27,002	25,308	23,147	24,212	21,382	21,912	17,015	13,235	12,591	11,020	12,799	12,833	13,020	10,970	9,614	11,590
Noninterest income:
Net gain on loan origination and sale activities
22,541	13,386	15,951	12,178	2,607	3,516	4,193	2,710	1,447	-177,173	71,010	65,908	60,281	67,820	92,600	85,630	61,263	46,642	57,885	69,974	61,887	39,176	37,642	41,794	25,510	24,842	33,491	52,424	53,955	68,933	65,336	46,799	29,496	18,606	15,766	9,151	4,944
Loan servicing income
5,607	1,896	2,687	2,176	1,043	872	954	937	908	-22,954	8,282	8,764	9,239	-271	12,595	12,703	8,032	13,354	4,768	1,831	4,297	9,808	6,155	10,184	7,945	7,807	4,011	2,183	3,072	651	506	7,091	7,873	5,963	18,532	7,713	5,848
Income from WMS Series LLC
-	-	-	-	-	-	-	-	-	-	166	406	185	-141	1,174	1,164	136	196	380	484	564	170	-122	246	-193	-359	-550	993	620	516	1,188	1,394	1,166	739	902	503	-25
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	2	11	-586	0	0	0	0	-	0	-939	-	0	0	0	2,000
Depositor and other retail banking fees
1,890	2,078	2,079	2,024	1,745	2,104	2,031	1,947	1,937	1,889	1,839	1,811	1,656	1,799	1,744	1,652	1,595	1,642	1,701	1,399	1,139	896	944	917	815	899	791	761	721	800	756	771	735	748	778	795	740
Insurance agency commissions
406	491	603	573	625	535	588	527	543	472	535	501	396	414	441	370	394	499	477	291	415	261	256	232	404	252	242	190	180	192	192	177	182	186	103	258	363
Gain on sale of investment securities available for sale
112	121	-18	137	-247	1	-4	16	222	-399	331	551	6	2,394	48	62	35	1,404	1,002	0	0	1,185	480	-20	713	1,766	-184	238	-48	141	397	911	41	-	642	1	-
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	381	796	-79	6,628	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
2,074	3,959	3,278	2,741	2,319	3,354	2,888	2,268	2,039	2,166	1,721	3,067	2,698	1,206	3,143	895	253	1,291	459	-913	443	-9	456	286	99	865	373	767	443	749	716	646	604	448	256	191	595
Total noninterest income
32,630	21,931	24,580	19,829	8,092	10,382	10,650	8,405	7,096	-196,756	83,884	81,008	74,461	73,221	111,745	102,476	71,708	65,409	67,468	72,987	75,373	51,487	45,813	53,650	34,707	36,072	38,174	57,556	58,943	71,982	69,091	56,850	40,097	27,149	36,979	18,612	14,465
Noninterest expense:
Salaries and related costs
32,043	29,878	32,793	34,239	25,279	25,649	25,183	27,005	27,205	-121,281	75,374	76,390	71,308	81,739	79,164	75,167	67,284	60,349	60,991	61,654	57,593	44,706	42,604	40,606	35,471	36,110	39,689	38,579	35,062	38,681	31,573	28,224	21,351	16,463	13,217	11,700	12,139
General and administrative
7,966	8,297	9,539	7,844	8,182	7,274	8,591	8,701	8,366	-11,365	16,147	15,872	17,128	15,996	14,949	16,739	15,522	15,699	14,342	13,955	12,825	10,145	10,326	11,145	10,122	9,932	9,234	10,270	10,930	8,585	7,148	6,832	5,273	6,024	4,310	4,555	3,601
Amortization of core deposit intangibles
345	411	429	461	333	406	406	407	406	233	470	493	514	530	579	525	532	514	527	547	336	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal
610	-655	594	1,824	-204	980	873	816	704	641	352	150	160	180	639	605	443	895	868	577	467	500	630	542	399	498	844	599	611	325	312	724	435	1,074	983	399	904
Consulting
934	894	866	887	1,408	746	426	615	682	-61	914	771	1,058	719	1,390	1,177	1,672	671	166	813	5,565	1,042	628	603	951	3,294	884	763	696	1,291	1,069	322	355	2,011	270	197	166
Federal Deposit Insurance Corporation assessments
771	860	-694	833	821	1,069	880	998	861	686	791	697	824	995	919	784	716	683	504	861	525	442	682	572	620	496	227	143	567	803	794	717	1,240	1,256	1,264	1,265	1,749
Occupancy
5,521	6,592	4,856	5,826	4,968	4,572	4,548	4,453	4,530	-12,499	12,391	8,880	8,209	8,122	7,740	7,513	7,155	6,903	6,077	6,107	5,840	4,556	4,935	4,675	4,432	4,098	3,484	3,381	2,802	2,424	2,279	2,092	1,790	1,733	1,663	1,700	1,668
Information services
6,942	6,964	7,325	6,948	7,088	7,246	7,005	6,967	6,810	1,317	8,760	8,172	7,648	9,206	7,876	8,447	7,534	7,061	8,159	7,714	6,120	6,455	4,220	4,862	4,515	4,369	3,552	3,574	2,996	2,739	2,411	1,994	1,723	1,436	1,509	1,477	1,480
Net cost (benefit) from operation and sale of other real estate owned
52	-26	13	-30	-29	-50	2	2	-93	128	-502	-181	25	52	1,143	74	495	-50	392	107	211	-150	133	-34	-419	71	202	-597	2,135	1,168	348	6,049	2,520	3,748	9,113	5,666	11,754
Total noninterest expense
55,184	53,215	55,721	58,832	47,846	47,892	47,914	49,964	49,471	-142,201	114,697	111,244	106,874	117,539	114,399	111,031	101,353	92,725	92,026	92,335	89,482	68,791	64,158	62,971	56,091	58,868	58,116	56,712	55,799	56,016	45,934	46,954	34,687	33,745	32,329	26,959	33,461
Income from continuing operations before income taxes
8,880	16,228	15,993	10,184	6,303	10,900	9,846	5,186	2,323	-23,373	19,777	16,132	13,238	3,406	42,898	34,827	9,646	10,524	14,376	18,382	13,625	9,698	6,963	13,826	2,828	-1,414	1,970	17,859	16,379	28,557	34,177	22,695	18,243	6,424	15,620	1,267	-7,406
Income tax expense from continuing operations
1,741	3,123	2,328	1,292	1,245	-1,309	1,757	1,015	569	-32,010	5,938	4,923	4,255	1,112	15,197	13,078	3,239	1,846	4,415	6,006	3,321	4,077	1,988	4,464	527	-553	308	5,791	5,439	7,059	12,186	4,017	-1,716	-602	362	-17	43
Income from continuing operations
7,139	13,105	13,665	8,892	5,058	12,209	8,089	4,171	1,754	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations before income taxes (includes net loss on disposal of $12,224 for the three months ended March 31, 2019)
0	-3,357	190	-16,678	-8,440	3,959	4,561	3,641	5,449	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit from discontinued operations
0	-1,240	28	-2,198	-1,667	941	815	713	1,337	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations
0	-2,117	162	-14,480	-6,773	3,018	3,746	2,928	4,112	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
7,139	10,988	13,827	-5,588	-1,715	15,227	11,835	7,099	5,866	34,915	13,839	11,209	8,983	2,294	27,701	21,749	6,407	8,678	9,961	12,376	10,304	5,621	4,975	9,362	2,301	-861	1,662	12,068	10,940	21,498	21,991	18,678	19,959	7,026	15,258	1,284	-7,449
Basic earnings per common share:
Basic income from continuing operations per share (in dollars per share)
0.30	0.51	0.55	0.32	0.19	0.45	0.30	0.15	0.07	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic income (loss) from discontinued operations per share (in dollars per share)
0.00	-0.13	0.01	-0.54	-0.25	0.11	0.14	0.11	0.15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic earnings per share (in dollars per share)
0.30	0.39	0.55	-0.22	-0.06	0.56	0.44	0.26	0.22	1.31	0.51	0.42	0.33	0.09	1.12	0.88	0.27	0.37	0.45	0.56	0.60	0.37	0.34	0.63	0.16	-0.07	0.12	0.84	0.76	1.39	1.53	1.31	1.94	2.44	2.82	0.48	-2.76
Diluted earnings per common share
Diluted income from continuing operations per share (in dollars per share)
0.30	0.50	0.54	0.32	0.19	0.46	0.30	0.15	0.06	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted income (loss) from discontinued operations per share (in dollars per share)
0.00	-0.12	0.01	-0.54	-0.25	0.11	0.14	0.11	0.15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share (in dollars per share)
0.30	0.38	0.55	-0.22	-0.06	0.55	0.44	0.26	0.22	1.29	0.51	0.41	0.33	0.09	1.11	0.87	0.27	0.36	0.45	0.56	0.59	0.38	0.33	0.63	0.15	-0.06	0.11	0.82	0.74	1.36	1.50	1.26	1.86	2.45	2.66	0.45	-2.76
Dividends paid on common stock per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	0.11	-	-	-	-	-	-	-	-	-	-	-	-
Basic weighted average number of shares outstanding (in shares)
23,688	24,233	24,419	26,619	27,021	26,993	26,985	26,976	26,927	26,887	26,883	26,866	26,821	25,267	24,811	24,708	23,676	22,050	22,035	22,028	17,158	14,811	14,805	14,800	14,784	14,523	14,388	14,376	14,359	14,371	14,335	14,252	10,292	10,806	5,403	2,701	2,701
Diluted weighted average number of shares outstanding (in shares)
23,860	24,469	24,625	26,802	27,185	27,175	27,181	27,156	27,159	27,136	27,089	27,084	27,057	25,588	24,996	24,911	23,877	22,297	22,291	22,292	17,355	14,973	14,968	14,954	14,947	14,812	14,790	14,785	14,804	14,714	14,699	14,824	10,720	11,708	5,745	2,837	2,701