HOMESTREET, INC. HMST Income Statement

Homestreet, inc. (HMST)

Income statement / TTM

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
252,375	256,192	256,819	250,640	239,793	228,350	199,374	197,297	192,327	190,345	208,170	201,375	197,439	190,667	180,766	172,026	163,708	152,621	139,845	124,596	109,071	100,107	93,387	87,049	81,076	76,442	73,633	72,720	72,625	71,057	69,930	69,011	69,607	71,794	0	0	0
Investment securities
19,354	20,531	21,306	22,007	22,650	22,645	22,104	21,788	21,680	21,753	22,178	22,390	20,973	18,394	15,695	12,973	12,249	11,590	10,792	10,603	9,989	10,565	11,038	12,368	12,702	12,391	11,739	10,361	9,812	9,391	8,997	7,902	7,301	6,921	0	0	0
Other
943	883	967	648	591	467	54	148	150	222	511	443	345	476	652	774	965	903	819	745	669	621	510	388	270	143	108	104	136	243	420	513	530	477	0	0	0
Total interest income
272,672	277,606	279,092	273,295	263,034	251,462	221,532	219,233	214,157	212,320	230,859	224,208	218,757	209,537	197,113	185,773	176,922	165,114	151,456	135,944	119,729	111,293	104,935	99,805	94,048	88,976	85,480	83,185	82,573	80,691	79,347	77,426	77,438	79,192	0	0	0
Interest expense:
Interest Expense, Deposits
70,860	70,389	65,113	55,897	48,519	41,995	35,038	29,772	26,077	23,912	23,139	22,481	21,063	19,009	16,525	14,232	12,788	11,801	11,007	10,302	9,653	9,431	9,418	9,276	9,287	10,416	11,834	13,520	15,351	16,741	18,373	20,313	22,653	24,815	0	0	0
Federal Home Loan Bank advances
6,010	9,342	12,866	15,642	14,787	12,374	7,736	7,864	7,452	7,624	9,718	7,918	7,012	6,030	5,678	5,031	4,475	3,668	3,090	2,641	2,179	1,980	1,785	1,710	1,653	1,532	1,394	1,257	1,405	1,788	2,206	2,764	3,188	3,821	0	0	0
Federal funds purchased and securities sold under agreements to repurchase
1,187	1,033	965	1,009	570	298	139	56	37	5	7	7	0	-	0	0	-	8	23	29	27	22	7	12	0	-	0	0	-	-	0	0	-	-	0	0	-
Long-term debt
6,668	6,822	6,873	6,870	6,807	6,647	6,495	6,320	6,172	6,067	5,982	5,902	5,211	4,043	2,863	1,701	1,150	1,104	1,084	1,077	1,070	1,120	1,123	1,126	1,144	2,546	2,566	2,597	2,585	1,333	1,501	1,654	1,840	2,046	0	0	0
Other
680	630	487	363	279	185	-111	6	81	171	580	503	458	402	330	262	211	195	152	121	109	71	53	39	32	27	21	19	17	16	12	8	0	-	0	0	-
Total interest expense
85,405	88,216	86,304	79,781	70,962	61,499	49,297	44,018	39,819	37,779	39,426	36,813	33,748	29,488	25,398	21,226	18,627	16,776	15,356	14,170	13,038	12,624	12,386	12,152	12,127	14,532	15,827	17,424	19,428	19,948	22,175	24,804	27,701	30,698	0	0	0
Net interest income
187,267	189,390	192,788	193,514	192,072	189,963	172,235	175,215	174,338	174,541	191,433	187,395	185,009	180,049	171,715	164,547	158,295	148,338	136,100	121,774	106,691	98,669	92,549	87,653	81,921	74,444	69,653	65,761	63,145	60,743	57,172	52,622	49,737	48,494	0	0	0
Provision for credit losses
12,000	-500	2,000	2,750	3,750	3,000	2,500	2,000	1,500	750	1,100	2,100	2,700	4,100	5,650	5,100	4,500	6,100	4,700	4,000	3,500	-1,000	-1,500	-3,000	-2,600	900	4,900	11,900	13,500	11,500	7,500	3,000	3,300	3,300	0	0	0
Net interest income after provision for credit losses
175,267	189,890	190,788	190,764	188,322	186,963	169,735	173,215	172,838	173,791	190,333	185,295	182,309	175,949	166,065	159,447	153,795	142,238	131,400	117,774	103,191	99,669	94,049	90,653	84,521	73,544	64,753	53,861	49,645	49,243	49,672	49,622	46,437	45,194	0	0	0
Noninterest income:
Net gain on loan origination and sale activities
64,056	44,122	34,252	22,494	13,026	11,866	-168,823	-102,006	-38,808	20,026	265,019	286,609	306,331	307,313	286,135	251,420	235,764	236,388	228,922	208,679	180,499	144,122	129,788	125,637	136,267	164,712	208,803	240,648	235,023	210,564	160,237	110,667	73,019	48,467	0	0	0
Loan servicing income
12,366	7,802	6,778	5,045	3,806	3,671	-20,155	-12,827	-5,000	3,331	26,014	30,327	34,266	33,059	46,684	38,857	27,985	24,250	20,704	22,091	30,444	34,092	32,091	29,947	21,946	17,073	9,917	6,412	11,320	16,121	21,433	39,459	40,081	38,056	0	0	0
Income from WMS Series LLC
-	-	-	-	-	-	-	-	-	-	616	1,624	2,382	2,333	2,670	1,876	1,196	1,624	1,598	1,096	858	101	-428	-856	-109	704	1,579	3,317	3,718	4,264	4,487	4,201	3,310	2,119	0	0	0
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-573	-573	-575	-586	0	0	-939	0	-	0	0	-	2,000	0	0	0
Depositor and other retail banking fees
8,071	7,926	7,952	7,904	7,827	8,019	7,804	7,612	7,476	7,195	7,105	7,010	6,851	6,790	6,633	6,590	6,337	5,881	5,135	4,378	3,896	3,572	3,575	3,422	3,266	3,172	3,073	3,038	3,048	3,062	3,010	3,032	3,056	3,061	0	0	0
Insurance agency commissions
2,073	2,292	2,336	2,321	2,275	2,193	2,130	2,077	2,051	1,904	1,846	1,752	1,621	1,619	1,704	1,740	1,661	1,682	1,444	1,223	1,164	1,153	1,144	1,130	1,088	864	804	754	741	743	737	648	729	910	0	0	0
Gain on sale of investment securities available for sale
352	-7	-127	-113	-234	235	-165	170	705	489	3,282	2,999	2,510	2,539	1,549	2,503	2,441	2,406	2,187	1,665	1,645	2,358	2,939	2,275	2,533	1,772	147	728	1,401	1,490	1,991	1,595	0	-	0	0	-
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,726	7,345	6,549	6,628	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
12,052	12,297	11,692	11,302	10,829	10,549	9,361	8,194	8,993	9,652	8,692	10,114	7,942	5,497	5,582	2,898	1,090	1,280	-20	-23	1,176	832	1,706	1,623	2,104	2,448	2,332	2,675	2,554	2,715	2,414	1,954	1,499	1,490	0	0	0
Total noninterest income
98,970	74,432	62,883	48,953	37,529	36,533	-170,605	-97,371	-24,768	42,597	312,574	340,435	361,903	359,150	351,338	307,061	277,572	281,237	267,315	245,660	226,323	185,657	170,242	162,603	166,509	190,745	226,655	257,572	256,866	238,020	193,187	161,075	122,837	97,205	0	0	0
Noninterest expense:
Salaries and related costs
128,953	122,189	117,960	110,350	103,116	105,042	-41,888	8,303	57,688	101,791	304,811	308,601	307,378	303,354	281,964	263,791	250,278	240,587	224,944	206,557	185,509	163,387	154,791	151,876	149,849	149,440	152,011	143,895	133,540	119,829	97,611	79,255	62,731	53,519	0	0	0
General and administrative
33,646	33,862	32,839	31,891	32,748	32,932	14,293	21,849	29,020	37,782	65,143	63,945	64,812	63,206	62,909	62,302	59,518	56,821	51,267	47,251	44,441	41,738	41,525	40,433	39,558	40,366	39,019	36,933	33,495	27,838	25,277	22,439	20,162	18,490	0	0	0
Amortization of core deposit intangibles
1,646	1,634	1,629	1,606	1,552	1,625	1,452	1,516	1,602	1,710	2,007	2,116	2,148	2,166	2,150	2,098	2,120	1,924	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal
2,373	1,559	3,194	3,473	2,465	3,373	3,034	2,513	1,847	1,303	842	1,129	1,584	1,867	2,582	2,811	2,783	2,807	2,412	2,174	2,139	2,071	2,069	2,283	2,340	2,552	2,379	1,847	1,972	1,796	2,545	3,216	2,891	3,360	0	0	0
Consulting
3,581	4,055	3,907	3,467	3,195	2,469	1,662	2,150	2,306	2,682	3,462	3,938	4,344	4,958	4,910	3,686	3,322	7,215	7,586	8,048	7,838	3,224	5,476	5,732	5,892	5,637	3,634	3,819	3,378	3,037	3,757	2,958	2,833	2,644	0	0	0
Federal Deposit Insurance Corporation assessments
1,770	1,820	2,029	3,603	3,768	3,808	3,425	3,336	3,035	2,998	3,307	3,435	3,522	3,414	3,102	2,687	2,764	2,573	2,332	2,510	2,221	2,316	2,370	1,915	1,486	1,433	1,740	2,307	2,881	3,554	4,007	4,477	5,025	5,534	0	0	0
Occupancy
22,795	22,242	20,222	19,914	18,541	18,103	1,032	8,875	13,302	16,981	37,602	32,951	31,584	30,530	29,311	27,648	26,242	24,927	22,580	21,438	20,006	18,598	18,140	16,689	15,395	13,765	12,091	10,886	9,597	8,585	7,894	7,278	6,886	6,764	0	0	0
Information services
28,179	28,325	28,607	28,287	28,306	28,028	22,099	23,854	25,059	25,897	33,786	32,902	33,177	33,063	30,918	31,201	30,468	29,054	28,448	24,509	21,657	20,052	17,966	17,298	16,010	14,491	12,861	11,720	10,140	8,867	7,564	6,662	6,145	5,902	0	0	0
Net cost (benefit) from operation and sale of other real estate owned
9	-72	-96	-107	-75	-139	39	-465	-648	-530	-606	1,039	1,294	1,764	1,662	911	944	660	560	301	160	-470	-249	-180	-743	1,811	2,908	3,054	9,700	10,085	12,665	21,430	21,047	30,281	0	0	0
Total noninterest expense
222,952	215,614	210,291	202,484	193,616	195,241	5,148	71,931	133,211	190,614	450,354	450,056	449,843	444,322	419,508	397,135	378,439	366,568	342,634	314,766	285,402	252,011	242,088	236,046	229,787	229,495	226,643	214,461	204,703	183,591	161,320	147,715	127,720	126,494	0	0	0
Income from continuing operations before income taxes
51,285	48,708	43,380	37,233	32,235	28,255	-6,018	3,913	14,859	25,774	52,553	75,674	94,369	90,777	97,895	69,373	52,928	56,907	56,081	48,668	44,112	33,315	22,203	17,210	21,243	34,794	64,765	96,972	101,808	103,672	81,539	62,982	41,554	15,905	0	0	0
Income tax expense from continuing operations
8,484	7,988	3,556	2,985	2,708	2,032	-28,669	-24,488	-20,580	-16,894	16,228	25,487	33,642	32,626	33,360	22,578	15,506	15,588	17,819	15,392	13,850	11,056	6,426	4,746	6,073	10,985	18,597	30,475	28,701	21,546	13,885	2,061	-1,973	-214	0	0	0
Income from continuing operations
42,801	40,720	39,824	34,248	29,527	26,223	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations before income taxes (includes net loss on disposal of $12,224 for the three months ended March 31, 2019)
-19,845	-28,285	-20,969	-16,598	3,721	17,610	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit from discontinued operations
-3,410	-5,077	-2,896	-2,109	802	3,806	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations
-16,435	-23,208	-18,073	-14,489	2,919	13,804	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Income (Loss) Attributable to Parent
26,366	17,512	21,751	19,759	32,446	40,027	59,715	61,719	65,829	68,946	36,325	50,187	60,727	58,151	64,535	46,795	37,422	41,319	38,262	33,276	30,262	22,259	15,777	12,464	15,170	23,809	46,168	66,497	73,107	82,126	67,654	60,921	43,527	16,119	0	0	0
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