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News Releases
Oct 02, 2009
Mark K. Mason Named Chairman & CEO of HomeStreet Bank
Focus will be on raising capital
SEATTLE – HomeStreet Bank, one of the largest privately owned banks in the Pacific Northwest, today announced that Mark K. Mason will join HomeStreet Bank as chairman and CEO. Bruce W. Williams is stepping down from this position, but will support Mr. Mason through a period of transition as president of the Bank's holding company, HomeStreet, Inc. Mr. Williams will also remain on the Board of Directors of HomeStreet, Inc.
Mr. Mason brings extensive experience to the company in raising capital for financial institutions and working with investors and regulators. He will focus on leading the bank in acquiring new capital, continuing to address challenges in the bank's loan portfolio and strengthening the institution.
Mr. Mason commented, "HomeStreet Bank is an exceptional community bank with an outstanding history of serving customers and being active in the community. We have a solid plan and a strong team in place, and we will work together to solve the challenges that have resulted from the recession and its dramatic effect on home building and real estate development. I appreciate having the opportunity to help lead this institution."
Mr. Williams, a representative of the third generation of the W. Walter Williams family, majority owners of HomeStreet, noted, "Mr. Mason has a complete familiarization with the capital markets and a record of success in his work recapitalizing and leading financial institutions similar in size to HomeStreet. I have enjoyed getting to know Mark and look forward to working with him to ensure a seamless transition for the company, its employees and customers."
These management changes are pending regulatory approval.
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About HomeStreet Bank
Founded in 1921, Seattle-based HomeStreet Bank has assets of $3.2 billion and a network of 30 branch and mortgage offices. HomeStreet Bank is one of the only banks in the country that has consistently received an “outstanding” rating under the federal government's Community Reinvestment Act (CRA). For more information on HomeStreet Bank, visit www.homestreet.com.
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