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Leading Proxy Advisory Firm Recognizes that Current Board is
Executing on Key Strategic Initiatives and Has Listened to Shareholders

Recommends that Shareholders Vote on the WHITE Proxy Card for ALL
Three Company Nominees: Sandra A. Cavanaugh, Mark K. Mason and Donald R.

SEATTLE–(BUSINESS WIRE)–HomeStreet, Inc. (Nasdaq: HMST) (the “Company” or “HomeStreet”), the
parent company of HomeStreet Bank, today announced that leading proxy
advisory firm Institutional Shareholder Services Inc. (“ISS”), has
recommended that shareholders vote on the WHITE proxy card FOR all three
of the Company’s highly-qualified director nominees: Sandra A.
Cavanaugh, Mark K. Mason and Donald R. Voss, to the Board of Directors
(the “Board”) at the upcoming 2019 Annual Meeting of Shareholders (the
“2019 Annual Meeting”) scheduled for June 20, 2019.

In reaching this conclusion, ISS acknowledged the Company’s positive
momentum driven by the strategic leadership of HomeStreet’s Board, as
well as the steps the Board has taken to act on shareholder feedback and
enhance corporate governance practices. ISS said:1

  • “On balance, particularly in light of the changes that have been
    implemented since the last meeting, the
    dissident has not demonstrated that additional board change is
    necessary at this time
  • “As such, votes FOR the management nominees on
    the WHITE card are warranted
  • “…HMST outperformed peers and the KBW Regional
    Banking Index
    from both the 2018 AGM and the announcement that
    HMST intended to seek buyers for its mortgage banking business through
    the unaffected date, as well as over the trailing one year, including
    when the measurement periods are extended.”
  • “Our engagement with the board suggests that Patterson
    and Cavanaugh have been positive additions to the board; the dissident
    also appears to share this view
    , indicating during discussions
    with ISS that it believes new director Cavanaugh has helped push HMST
    in the right direction since the 2018 annual meeting.”

Commenting on the report, HomeStreet Chairman, CEO & President Mark
Mason said: “We are pleased that ISS has recognized the successful
transformation that is underway at HomeStreet and recommended
shareholders support our nominees, Sandra A. Cavanaugh, Donald R. Voss
and myself, for re-election to the Board. With our collective banking
industry, risk management and leadership experience, the current Board
is well-positioned to continue driving value creation at HomeStreet. ISS
also acknowledged the positive steps the Board has taken since the 2018
Annual Meeting, including our extensive engagement with shareholders,
whose feedback we translated into positive and constructive action. In
particular, we are pleased that ISS supported our proposals to
declassify the Board and eliminate supermajority vote requirements.

We ask shareholders to join ISS in supporting our progress and vote on
the WHITE proxy card at the 2019 Annual Meeting.”

The Company recommends that shareholders vote FOR the election of ALL
the Company’s nominees, Sandra A. Cavanaugh, Mark K. Mason and Donald R.
Voss, on the WHITE proxy card at the 2019 Annual Meeting.

If you have any questions, or need assistance voting your WHITE
proxy card, please contact:


1212 Avenue of the Americas, 24th Floor
New York, NY 10036

Telephone for Banks, Brokers, and International Shareholders: +1
Shareholders may call toll-free (from the U.S. and
Canada): 877-566-1922
Email: [email protected]

About HomeStreet, Inc.

HomeStreet, Inc. (Nasdaq: HMST) (the “Company”) is a diversified
financial services company headquartered in Seattle, Washington, serving
consumers and businesses in the Western United States and Hawaii through
its various operating subsidiaries. The Company’s primary business
following the completion of these transactions will be community
banking, including: commercial real estate lending, commercial lending,
residential construction lending, single family residential lending for
portfolio, retail banking, private banking, investment, and insurance
services. Its principal subsidiaries are HomeStreet Bank and HomeStreet
Capital Corporation. Certain information about our business can be found
on our investor relations web site, located at

Important Additional Information and Where to
Find It

The Company has filed a definitive proxy statement on Schedule 14A and
accompanying WHITE proxy card with
the Securities and Exchange Commission (the “SEC”) in connection with
the solicitation of proxies for its 2019 Annual Meeting of Shareholders.
copy of the proxy statement and accompanying WHITE
proxy card, any amendments or supplements to the proxy statement and
other documents that the Company files with the SEC from the SEC’s
website at
or the Company’s website at
as soon as reasonably practicable after such materials are
electronically filed with, or furnished to, the SEC.

Forward-Looking Statements

This release, as well as other information provided from time to time by
the Company or its employees, may contain forward-looking statements
that involve risks and uncertainties that could cause actual results to
differ materially from those anticipated in the forward-looking
statements. Forward-looking statements give the Company’s current
beliefs, expectations and intentions regarding future events. You can
identify forward-looking statements by the fact that they do not relate
strictly to historical or current facts. These statements may include
words such as “anticipate,” “believe,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “potential,” “should,” “will” and “would” and
similar expressions (including the negative of these terms). These
forward-looking statements involve risks, uncertainties (some of which
are beyond the Company’s control) and assumptions. Although we believe
that expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. The Company intends these forward-looking
statements to speak only at the time of this release and the Company
does not undertake to update or revise these statements as more
information becomes available, except as required under federal
securities laws and the rules and regulations of the SEC. Please refer
to the risk factors discussed in the Company’s Annual Report on Form
10-K and 10-K/A for the fiscal year ended December 31, 2018 and
subsequent periodic and current reports filed with the SEC (each of
which can be found at the SEC’s website,
as well as other factors described from time to time in the Company’s
filings with the SEC. Any forward-looking statement made by the Company
in this release speaks only as of the date on which it is made.

1 Permission to quote ISS was neither sought nor obtained.
Emphasis added.


Investor Relations:
Gerhard Erdelji, 206-515-4039
[email protected]


Okapi Partners LLC
Bruce H. Goldfarb/Pat McHugh, (877)566-1922
[email protected]

Media Relations:
Sloane & Company
Dan Zacchei/Joe
Germani, 212-486-9500
[email protected]
/ [email protected]