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. makes loans to directors, executive officers and other affiliates in compliance with RegulationO issued by the Federal Reserve. [5], Following the financial crisis of 20072008 the bank suffered heavy losses. The Audit Committee and HRCG report to the Board as ENVELOPE. Washington 98101. Split Information, Officers AS THERE SPECIFIED. 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 We do not currently anticipate that any other matters will be raised at the Annual Meeting. Committee or our Board of Directors. Darrell van Amen, Senior Vice President, Asset/Liability Manager, Treasurer of the in Business Administration from the University of Washington. The We adopted a broad-based, non-discretionary severance plan following approval by our As part of fulfilling its responsibilities, the Audit Committee has: reviewed and discussed the Companys audit financial statements with management; discussed with the independent registered public accounting firm the matters required to be discussed by Statement on Auditing Standards No. home, Corporate Godfrey B. Evans, Executive Vice Mark Mason took on the rescue of HomeStreet Bank at a time when its own directors worried that regulators might shut it down. HomeStreet and promoting an identity of interest with our shareholders. solicitation material to. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. ANNUAL MEETING OF SHAREHOLDERS OF HOMESTREET, INC. May23, 2012 NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL: The Notice of $500,000 per year. Adjusted Operating Income at a target of $43.3 million. The board of directors has adopted a policy for lending to our employees, directors and executive officers to ensure compliance with Regulation O loans by the Bank to our employees, directors and executive He spent the next five years as a consultant to banks and mortgage lenders. comply with these guidelines such as: We have designed incentives tied to short-term revenue and profits with elements that include qualitative components such as credit quality, and we determining the criteria for membership to the Board of Directors and recommending candidates for election to the Board of Directors. A majority of our directors satisfy the definition of independent director under the corporate governance Bruce W. Williams. compliance framework. You may NOT cumulate votes relating to the election of directors. On January20, 2010, the shareholders approved the 2010 Equity Incentive Plan (the 2010 Plan), which authorizes the grant of nonqualified and incentive 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 differenza tra associazione culturale e associazione di promozione sociale. home building and land development industries. reporting processes, including the quarterly reviews and the annual audit of HomeStreets consolidated financial statements by KPMG LLP, HomeStreets independent registered public accounting firm. The Companys Adjusted Operating Income as calculated for mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. Northridge. 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 OUR BOARD RECOMMENDS THAT SHAREHOLDERS VOTE TO APPROVE THE NOMINEES LISTED 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 Universitys Albers School of Business and Economics. You may also find the annual proxy statement by going directly to the company's website. Participation. The Seattle-based bank's mortgage banking segment lost $16.7 million last year as interest. Payment of Filing Fee (Check the appropriate box): Fee computed on table below per Exchange Act Rules 14a-6(i)(l) and 0-11. Directors Scott In May 2011, the Board of Directors approved grants of stock options and restricted stock awards to be made to our executive officers and HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief shareholders to provide input on our compensation philosophy, policies and practices while allowing the Company, Board of Directors and Human Resources and Corporate Governance Committee adequate time to evaluate the effects of our compensation Named Executive Officers. market commercial lending, and vice president, business banking. If we are required to restate our financials due to noncompliance components: 20% corporate performance based on operating income at a target of $43.3 million, 60% business unit performance based on single family loan production and profit and 20% individual performance. $175,013 or 172.4% of his target award. We will post on our website any amendments to, or waivers (with respect audit and non-audit services to be performed by KPMG LLP with subsequent reporting and oversight required by the Audit Committee. pre-established percentage of the Companys outstanding common stock as measured on a pre-offering basis: 3.7% for Mr.Mason, 1.0% for Mr.Hooston, and 0.7% for each of Messrs. Evans and Iseman. The HRCG regularly reviews The bank has nearly doubled its market share by hiring agents from MetLife, which decided to exit the business. Prior to his current position with the Bank, he was the Vice President, to serve for a three year-term or until a successor is duly elected and qualified. The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012. for such services; review the adequacy of our internal accounting controls and financial reporting processes; and. From time to time, the Bank For and in consideration of the payments and other benefits due to [Mark K. Mason] (the "Executive") pursuant to the Employment Agreement (the "Employment Agreement") entered into as , 2011 (the "Effective Date"), by and between HomeStreet, Inc., and HomeStreet Bank, and their respective subsidiaries (together the "Company") and . On October22, 2010, our Chief Executive Officer received 100,000 options, our Chief Financial Officer received 28,000 options and our Executive Vice President, Chief Administrative principal terms of the post-offering agreements are the same as those of the pre-offering agreements. The 2012 annual meeting of shareholders of HomeStreet, Inc., a Washington Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. Participation levels in all incentive 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 HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. Non-employee directors of HomeStreet, Inc. and the Bank will each earn an annual retainer of $20,000, other than for committee chairs, who Sign up in seconds, it's free! Mason joined Citigroup in 2001 and has held a number of executive positions at the firm, including Chief Financial Officer of Citi's Institutional Clients Group, Chief Executive Officer of Citi Private Bank, Chief Executive Officer of Citi Holdings, and Chief Financial Officer and Head of Strategy and M&A for Citi's Global Wealth Management Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. If you wish to give specific instructions with respect to the voting of directors, you may do so by indicating your instructions on your proxy card. A He graduated cum laude with a bachelors degree in accounting and an MBA from the University of Utah. Mr.Iseman joined the Bank in August 2009 and currently serves as the Executive Vice President and Chief Credit Officer of the Company and the Bank. Committee Membership of Directors of HomeStreet, Inc. Human Resources and Corporate Governance Committee, Human Resources and Corporate Governance Committee Interlocks and InsiderParticipation, Process for Recommending Candidates for Election to the Board of Directors, Attendance at Annual Meetings of Shareholders by the Board of Directors, Insider Trading Policy and Rule 10b5-1 Trading Plans, Current Non-Employee Director Compensation, 2011 Equity Incentive Plan for Non-Employee Directors, Compensation Program Objectives and Philosophy, Pre-Offering Executive Employment Agreements, Post-Offering Executive Employment Agreements, Severance and Change in Control Arrangements, Human Resources and Corporate Governance Committees Report, Outstanding Equity Awards at Fiscal Year-End, CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, Procedures for Approval of Related Party Transactions, Directions and Parking Instructions to HomeStreet, Inc. credit and lending experience, finance and accounting education and experience, distressed institution turnaround experience and relationships in the banking industry and the capital markets. What happens if I sign and return my proxy card, but dont mark my votes? Companys outstanding shares, have been calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act) as reflected in the beneficial ownership table shown in the Principal attract and retain executive talent. Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in Business Administration with an emphasis in Accounting from California State Polytechnic University. 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. The meeting will be held at 10 a.m. Pacific Time on May23, 2012 at the downtown Seattle Ms.Leach is a member of the board of directors of the Seattle Housing Resources Group, member of Commercial Real Estate Women, member of protecting proprietary information and proper use of assets. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. for our Board of Director must also meet any approval requirements set forth by our regulators. Mason said he handled the rescue by honestly communicating with regulators and bank directors about problems as they emerged. Executive Officer in November 2011, we considered survey-based information aggregating compensation statistics for similarly situated institutions as well as compensation information for Chief Executive Officers from institutions in our peer high-performance culture. Mr.Williams holds a bachelors degree in History from Stanford University and a law degree from the [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. majority of the remaining directors then in office, unless otherwise provided by law or by resolution of the board of directors. executive officer and director of the Bank of Southern California from 1994 to 1996, and president, chief executive officer and director of CapitolBank Sacramento from 1992 to 1994. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid For the other proposals Ms.Kanealii joined the Bank in 2002 as Senior Vice President and Business Banking Director. results from the single family mortgage origination activities under Mr.Bennions leadership. Prior to joining Port Blakely Communities, he served as president Your vote will not be disclosed either within the UN Finalizes Global Deal on Marine Biodiversity Jurisdiction, Chinas Central Government to Borrow More: 2023 Budget Details, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Federal Grants Aim to Reconnect Communities Divided by Highways, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, China Aims to Boost Grain Capacity Under New Food Security Push, China Emphasizes Whole Nation Stance on Tech as US Curbs Bite, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Japan Planning Steps to End South Korea Trade Rift, Yomiuri Says, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, Chinas 5% GDP Target SignalsCrackdowns Are Not Over. organizations, including serving on the Advisory Board for the University of Washington, School of Social Work, the board of directors of the Woodland Park Zoo, the board of directors of the Mountain-to-Sound Greenway, the board of trustees of 2007 as Chief Information Officer. Mr.Masons and that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. principal at Indiek Realty/Finance, which he formed in 1995. Permissible services, not pre-approved pursuant to this policy, require specific review and approval prior to the on executive compensation that occurs triennially is the most appropriate alternative for the Company, and therefore our Board of Directors recommends that you vote for a three-year interval for the non-binding vote on executive compensation. independent directors as that term is defined in the listing standards of Nasdaq. management significant financial and nonfinancial risk exposures and the steps management has taken to monitor, control and report such exposures. Mr.Kirk has previously served as the chairman of the WSBA Real Property, Probate and Trust Section. However, if any We have a 40l(k) Savings Plan (the 401(k) Plan) and an Employee Stock Ownership Plan& Trust (the ESOP).