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HomeStreet Bank Milestones

1921 HomeStreet Bank, known at the time as Continental Mortgage and Loan Company, is founded in Seattle’s University District by a group of businessmen, including the company’s first president and CEO, Ralph W. Green.  First employee is W. Walter Williams.
 
1922   Continental finances construction of single family homes, apartment and commercial buildings.
 
1923   Continental continues to grow through originating loans, as well as selling bonds and insurance.
 
1927   W. Walter Williams becomes president of Continental.
 
1933   Continental moves to downtown Seattle and changes its name to Continental, Inc.
 
1934   W. Walter Williams is named president of the Mortgage Bankers Association of America.  The company establishes correspondent relationships with a number of life insurance companies.
 
1938   Continental is approved to originate FHA and Federal National Mortgage Association (Fannie Mae) loans.
 
1940-1944   Continental teams with builders to construct homes for war workers flooding the Seattle area. By 1944, Continental is the third largest mortgage lender in King County.
 
1946   The federal government establishes the Veterans Administration loans. Continental is approved to originate VA loans.
 
1948   Continental begins development of Northgate Shopping Center in Seattle, one of the nation’s first shopping malls.
 
1953   W. Walter Williams appointed as Under Secretary of Commerce in the Eisenhower administration.
 
1955   Continental provides financing for the development of University Village Shopping Center in Seattle.
 
1958   W. Walter Williams retires as president of Continental. Executive Vice President Irving Smith is promoted to president.
 
1959   After serving in the Eisenhower Administration, W. Walter Williams returns to Continental and is elected chairman of the board.
 
1964   Walter B. Williams, son of W. Walter Williams, is named president after Irving Smith’s retirement.
 
1972   Continental becomes the first lender in the nation to use the Government National Mortgage Association’s (Ginnie Mae) serial bonds and mortgage backed securities.
 
1973   Walter B. Williams is elected president of the Mortgage Bankers Association of America. Continental introduces the concept of self-service storage in the Pacific Northwest.
 
1979   Continental purchases Realty Mortgage in Hawaii.
 
1983   Continental becomes the first lender in Washington to offer loans through the Washington State Housing Finance Commission. The company’s loan servicing portfolio reaches the $1 billion mark.
 
1984   Continental enters the Oregon market with its first branch in Portland.
 
1986   Continental enters the thrift and banking market with the start of Continental Savings Bank in downtown Seattle.
 
1988   Continental’s Income Property Finance department is selected by Fannie Mae as one of only 13 lenders nationally to participate in its Designated Underwriting and Servicing (DUS) apartment financing program.
 
1989   Continental receives award from the Mortgage Bankers Association of America for its long-term contribution and commitment to affordable housing.
 
1990   Richard Swanson is named president and CEO; Walter B. Williams becomes chairman of the Board.
 
1992   Continental originates more than $1 billion in single family loans in one year. Continental moves its corporate headquarters to its present location at Two Union Square in downtown Seattle.
 
1994   The Affinity Lending Center is established, an employer-assisted housing program launched with the City of Seattle.
 
1996   Continental enters Idaho with a Home Loan Center in Boise.
 
1997   Stonemark Mortgage joins Continental and is subsequently renamed Windermere Mortgage Services.
 
1998   Continental has a total of 22 branches, reaches $1 billion in assets and becomes the fourth largest thrift institution in the region. Continental establishes mortgage origination via the Internet.
 
1999   Continental expands banking services to Hawaii through the purchase of Realty Finance.
 
2000   Continental changes its name to HomeStreet Bank. Richard Swanson is named chairman and CEO; Bruce W. Williams, son of Walter B. Williams, is named president and COO. HomeStreet launches a complete line of business banking products and services.
 
2002   HomeStreet launches the "Wild About Zoos" program to benefit regional zoos. Bruce W. Williams becomes CEO of HomeStreet Bank, and Joan Enticknap joins HomeStreet as president and COO.
 
2003   Bruce Williams is elected chairman of the HomeStreet Bank Board of Directors.
 
2004   HomeStreet launches the "HomeStreet Community Housing Awards," granting eight $10,000 awards to nonprofit housing organizations in Washington, Oregon and Hawaii.
 
2005   HomeStreet provides financing for the LaSalle-Creamery Development, a mixed-use project that provides additional low-income housing units and recreational space for seniors in Seattle’s Pike Place Market.
 
2006   HomeStreet celebrates its 85th year and reaches the $2 billion mark in assets. HomeStreet receives the "City of Destiny" Award from the City of Tacoma for its support of parks and open spaces and the "Helping to Achieve Homeownership" Award from America’s Community Bankers.
 
2007   HomeStreet launches its HomeStreet Bank Tree Challenge program.  The bank receives an "Outstanding" Community Reinvestment Act rating from the federal government and is selected as a "Washington’s Best Workplaces" winner.  Assets grow to nearly $3 billion.
 
2008   HomeStreet opens new bank branch in Pearl City, Hawaii. CEO Bruce Williams becomes Chairman of the Board of Washington Financial League and is appointed to Mortgage Bankers Association Council on Ensuring Mortgage Liquidity.
 
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