What changed in Mechanics Bancorp's 10-K — 2024 vs 2025
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Paragraph-level year-over-year comparison of Mechanics Bancorp's 2024 and 2025 10-K annual filings, covering the Business, Risk Factors, Legal Proceedings, Cybersecurity, MD&A and Market Risk sections. Every new, removed and edited paragraph is highlighted side-by-side so you can see exactly what management changed in the 2025 report.
+550 added−804 removedSource: 10-K (2026-03-17) vs 10-K (2025-03-07)
Top changes in Mechanics Bancorp's 2025 10-K
550 paragraphs added · 804 removed · 43 edited across 1 sections
- Item 1. Business+550 / −804 · 43 edited
Item 1. Business
Business — how the company describes what it does
43 edited+507 added−761 removed1 unchanged
Item 1. Business
Business — how the company describes what it does
43 edited+507 added−761 removed1 unchanged
2024 filing
2025 filing
Biggest changeUnder capital adequacy guidelines, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and Bank's capital amounts and classifications are also subject to qualitative judgments by the regulators about risk components, asset risk weighting, and other factors.
Biggest changeRegulation Applicable to Mechanics Bancorp and Mechanics Bank Capital Requirements Capital rules (the “Rules”) adopted by Federal banking regulators (including the Federal Reserve and the FDIC) establish a framework for measuring capital adequacy using quantitative measures of Mechanics Bancorp’s and Mechanics Bank’s assets, liabilities and certain off‑balance sheet items as calculated under regulatory accounting practices.
We may not be able to raise debt or capital at the time when we need it, or on terms that are acceptable to us, especially if capital markets are especially constrained, if our financial performance weakens, or if we need to do so at a time when many other financial institutions are competing for debt and capital from investors in response to changing economic conditions.
We may not be able to raise debt or capital at the time when we need it, or on terms that are acceptable to us, especially if capital markets are constrained, if our financial performance weakens, or if we need to do so at a time when many other financial institutions are competing for debt and capital from investors in response to changing economic conditions.
An inability to raise additional capital on acceptable terms when needed could have a material adverse effect on our business, results of operations and capital position. In addition, any capital raising alternatives could dilute the value of our outstanding common stock held by our existing shareholders and may adversely affect the market price of our common stock.
An inability to raise additional debt or capital on acceptable terms when needed could have a material adverse effect on our business, results of operations and capital position. In addition, any capital raising alternatives could dilute the value of our outstanding common stock held by our existing shareholders and may adversely affect the market price of our common stock.
We also create active partnerships with 5 hundreds of local organizations, and our employees provide leadership, educational support, hands-on service, expertise, and financial support to those organizations. We focus primarily on organizations within the scope of the Community Reinvestment Act ("CRA") – those that provide support for housing, basic needs, and economic development for those of low and moderate income.
We also create active partnerships with local organizations and our employees provide leadership, educational support, hands-on service, expertise, and financial support to those organizations. We focus primarily on organizations within the scope of the Community Reinvestment Act that provide support for affordable housing, basic needs, and economic development for those of low and moderate income.
In addition to third party training and education opportunities, we use an online learning management system to create, assign, and track compliance and professional development learning programs across many topical areas such as Banking, mortgage and regulatory education, technology training, public speaking and proactive communication, development of strong customer relationship and customer service skills.
In addition to third party training and education opportunities, we use an online learning management system to create, assign, and track compliance and professional development learning programs across many topical areas such as banking, mortgage and regulatory education, technology training, development of strong customer relationship and customer service skills.
HomeStreet, Inc. primarily relies on dividends from the Bank, which may be limited by applicable laws and regulations. HomeStreet, Inc. is a separate legal entity from the Bank, which is the primary source of funds available to HomeStreet Inc. to service its debt, fund its operations, pay dividends to shareholders, repurchase shares and otherwise satisfy its obligations.
Mechanics Bancorp primarily relies on dividends from Mechanics Bank, which may be limited by applicable laws and regulations . Mechanics Bancorp is a separate legal entity from Mechanics Bank, which is the primary source of funds available to Mechanics Bancorp to service its debt, fund its operations, pay dividends to shareholders, repurchase shares and otherwise satisfy its obligations.
Where You Can Obtain Additional Information We file annual, quarterly, current and other reports with the Securities and Exchange Commission (the "SEC"). We make available free of charge on or through our website http://www.homestreet.com all of these reports (and all amendments thereto), as soon as reasonably practicable after we file these materials with the SEC.
Where You Can Obtain Additional Information We file annual, quarterly, current and other reports with the SEC. We make available free of charge on or through our website http://www.mechanicsbank.com all of these reports (and all amendments thereto), as soon as reasonably practicable after we file these materials with the SEC.
However, we may not be able to effectively implement new technology-driven products and services or be successful in marketing these products and services to our customers.
We may not be able to effectively or timely implement new technology-driven products and services or be successful in marketing these products and services to our customers and clients.
We have a variety of group benefit programs designed to provide our employees with health and wellness benefits, financial benefits in the event of planned or unplanned expenses, or losses relating to illness, disability, death, to help plan for retirement, and deal with job-related or personal problems.
We have a variety of group benefit programs designed to provide our employees with health and wellness benefits, financial benefits in the event of planned or unplanned expenses, or losses relating to illness, disability, or death, and to help plan for retirement, or provide support with employment-related or personal needs.
We use a mix of base salary, cash-based short-term incentive plans and defined contributions to the 401(k) plan for participating employees to incentivize our employees and also provide long-term incentive compensation, preferring equity-based where available, for key employees. Employee performance is considered, evaluated and discussed through regular performance check-ins between manager and direct report.
To incentivize our employees, we use a mix of base salary, cash-based short-term incentive plans, defined contributions to the 401(k) plan for participating employees, and equity based long-term incentive compensation for a limited number of employees. Employee performance is considered, evaluated and discussed through performance check-ins between manager and direct report.
Employees are given time off to volunteer for community organizations, and where employees make a substantial commitment of time to a particular organization, HomeStreet offers an additional financial contribution to those organizations in recognition of the commitment of our employees.
Employees are given time off to volunteer for community organizations, and when employees make a substantial commitment of time to a particular organization, we offer an additional financial contribution to those organizations in recognition of the commitment of our employees.
Employee Training and Development As part of our employee development program, we provide a variety of training and educational opportunities to help our employees stay current on regulatory compliance issues and develop their professional skills.
Employee Training and Development As part of our employee development program, we provide a variety of training and educational opportunities to help our employees grow and develop their professional skills.
Our computer systems, software and networks are subject to ongoing cyber incidents such as unauthorized access; loss or destruction of data (including confidential client information); account takeovers; unavailability of service; computer viruses or other malicious code; cyber-attacks; and other events.
Our computer systems, software and networks may be adversely affected by cyber incidents such as: unauthorized access; loss or destruction of data (including confidential client information); account takeovers; unavailability of service; computer viruses or other malicious code; cyberattacks; and other events.
Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a material effect on the Company's operations and financial statements.
Failure to meet minimum capital requirements could result in certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a material adverse effect on our financial condition and results of operations.
The availability of dividends from the Bank is limited by various statutes and regulations, capital rules regarding requirements to maintain a “well capitalized” ratio at the Bank, as well as by our policy of retaining a significant portion of our earnings to support the Bank’s operations. For additional information on these restrictions, see “Item 1 Business” in this 10-K.
The availability of dividends from Mechanics Bank is limited by various statutes and regulations, capital rules regarding requirements to maintain a “well capitalized” position at Mechanics Bank, as well as by our policy of retaining a significant portion of our earnings to support Mechanics Bank’s operations.
Employee Community Involvement HomeStreet is committed to our communities, and as part of that commitment we support the active involvement of our employees in supporting their communities.
Employee Community Involvement We are committed to our communities and prioritize the active involvement of our employees in supporting their communities.
The Company's primary sources of liquidity include deposits, loan payments and investment securities payments, both principal and interest, borrowings, and proceeds from the sale of loans and investment securities. Borrowings include advances from the FHLB, borrowings from the Federal Reserve, federal funds purchased and borrowing from other financial institutions.
Our primary sources of liquidity include deposits, loan repayments and investment securities payments, both principal and interest, borrowings, and proceeds from the sale of loans and investment securities.
In addition to the minimum capital ratios, both the Company and the Bank are required to maintain a “conservation buffer" consisting of additional Common Equity Tier 1 Capital which is at least 2.5% above the required minimum levels in order to avoid limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses.
In addition to the preceding requirements both Mechanics Bancorp and Mechanics Bank are required to maintain a “conservation buffer,” consisting of common equity Tier 1 capital, which is at least 2.5% above each of the required minimum levels.
We also have a policy of retaining a significant portion of our earnings to support the Bank’s operations. In addition, federal bank regulatory agencies have the authority to prohibit the Bank from engaging in unsafe or unsound practices in conducting its business.
In addition, federal bank regulatory agencies have the authority to prohibit Mechanics Bank from engaging in unsafe or unsound practices in conducting its business.
Please note that the contents of our website do not constitute a part of our reports, and those contents are not incorporated by reference into this Form 10-K or any of our other securities filings. The SEC’s website, www.sec.gov, contains reports, proxy and information statements, and other information that we file or furnish electronically with the SEC.
Please note that the contents of our website do not constitute a part of our reports, and those contents are not incorporated by reference into any of our securities filings.
The Company may have to raise debt or capital to pay off our HomeStreet Notes upon maturity.
Market conditions or Company-specific issues may restrict our ability to raise debt or capital to pay off our debts upon maturity . We may have to raise debt or capital to pay off our debts upon maturity.
Substantial legal liability or significant regulatory action against us could cause significant reputational harm to us and/or could have a material adverse impact on our business, prospects, financial condition, results of operations and capital position.
These risks often are difficult to assess or quantify, and their existence and magnitude often remain unknown for substantial periods of time. Substantial legal liability or significant regulatory action against us could have a material adverse effect on our results of operations or cause significant reputational harm to us, which could seriously harm our business and prospects.
If the Bank cannot pay dividends to HomeStreet Inc., HomeStreet, Inc. may be limited in its ability to service its debt, fund its operations, repurchase shares and pay dividends to its shareholders.
The payment of dividends or other transfers of funds to Mechanics Bancorp, depending on the financial condition of Mechanics Bank, could be deemed an unsafe or unsound practice. 37 If Mechanics Bank cannot pay dividends to Mechanics Bancorp, Mechanics Bancorp may be limited in its ability to service its debt, fund its operations, repurchase shares and pay dividends to its shareholders.
Based on that assessment, management concluded that, at December 31, 2024, the Company's internal control over financial reporting was effective.
Based on that assessment, management concluded that Mechanics Bank maintained effective internal control over financial reporting as of December 31, 2025 for purposes of FDICIA.
Risks Related to Information Technolo gy HomeStreet’s operational systems and networks, and those of our third-party vendors, have been, and will continue to be, subject to continually evolving cybersecurity risks that have resulted in or could result in the theft, loss, misuse or disclosure of confidential client or customer information or otherwise disrupt or adversely affect our business.
Risks Related to Our Technology Infrastructure Our operational systems and networks have been, and will continue to be, subject to an increasing risk of continually evolving cybersecurity or other technological risks, which could result in a loss of customer business, financial liability, regulatory penalties, damage to our reputation or the disclosure of confidential information .
Any such changes could adversely affect our cost of doing business and our financial position, results of operations and capital position.
Any of these outcomes could materially and adversely affect our business, financial condition, results of operations, and growth prospects.
Consumers generally may prevent financial institutions from sharing personal financial information with nonaffiliated third parties except for third parties that market the institutions’ own products and services. Additionally, financial institutions generally may not disclose consumer account numbers to any nonaffiliated third party for use in telemarketing, direct mail marketing or other marketing through electronic mail to consumers.
Additionally, financial institutions generally may not disclose consumer account numbers to any nonaffiliated third-party for use in telemarketing, direct mail marketing or other marketing to consumers. Mechanics Bank and all of its subsidiaries have established policies and procedures to comply with the privacy provisions of the Gramm- Leach-Bliley Act.
Our earnings are dependent on the difference between the interest earned on loans and investments and the interest paid on deposits and borrowings.
Our earnings are significantly dependent on our net interest income, which is the difference between interest income on interest-earning assets, such as loans and securities, and interest expense on interest-bearing liabilities, such as deposits and borrowings.
Regulation and Supervision of HomeStreet Bank Financial Privacy and Cybersecurity Under the Federal Right to Privacy Act of 1978, which imposes a duty to maintain confidentiality of consumer financial records and prescribes procedures for complying with administrative subpoenas of financial records, financial institutions are required to disclose their policies for collecting and protecting confidential information.
Privacy Under the Gramm-Leach-Bliley Act, financial institutions are required to disclose their policies for collecting and protecting confidential information.
An inability to raise additional debt or capital on acceptable terms when needed could have a material adverse effect on our business, results of operations and capital position.
Any financial liability or reputational damage could have a material adverse effect on our business, which, in turn, could have a material adverse effect on our financial condition and results of operations.
Human Capital Management Employee Headcount As of December 31, 2024, the Company employed 787 employees across our geographic footprint, 94% of which are classified as full-time. Our employee turnover rate was 21% during the year ended December 31, 2024.
Employee Headcount As of December 31, 2025 , we employed 1,971 employees across our geographic footprint , 92% of which are classified as full-time. None of our employees are covered by a collective bargaining agreement. Our employee turnover rate was 30% for 2025 , primarily driven by Merger-related efficiencies.
Any damage or failure that causes interruptions in operations may compromise our ability to perform critical functions in a timely manner (or may give rise to perceptions of such compromise) and could increase our costs of doing business, or have a material adverse effect on our financial condition, results of operations or capital position, as well as our reputation and customer or vendor relationships.
Any such failure could prevent us from collecting funds relating to customer and client transactions, which would materially impact our cash flows. Any computer or communications system failure or decrease in computer system performance that causes interruptions in our operations could have a material adverse effect on our business, financial condition, results of operations or cash flows.
Effective internal and disclosure controls are necessary for us to provide reliable financial reports, effectively prevent fraud, and operate successfully as a public company. If we cannot provide reliable financial reports or prevent fraud, our reputation and operating results may be harmed.
Effective internal controls are necessary for us to provide timely and reliable financial reports and effectively prevent fraud. If we fail to maintain adequate internal controls, then our financial statements may not accurately reflect our financial condition. Any material misstatements could require a restatement of our consolidated financial statements or cause investors to lose confidence in our reported financial information.
Goodwill has been determined to have an indefinite useful life and is not amortized but tested for impairment at least annually or more frequently if events and circumstances occur that indicate it is more likely than not the fair value of the reporting unit is less than its carrying value necessitating an impairment test.
Goodwill is initially recorded at fair value and is not amortized but is reviewed at least annually or more frequently if events or changes in circumstances indicate that the carrying value may not be fully recoverable. If our estimates of goodwill fair value change, then we may determine that impairment charges are necessary.
Locations We operate 56 full service bank branches in Washington, in Northern and Southern California, in the Portland, Oregon area and in Hawaii, as well as three primary stand-alone commercial lending centers located in Southern California, Idaho and Utah.
Borrowings may include advances from FHLB, borrowings from the Federal Reserve Bank, federal funds purchased and borrowings from other financial institutions. 9 Locations In addition to our main office, as of December 31, 2025 , we operated 166 full service branch locations throughout California, Oregon, Washington and Hawaii, an d three stand-alone commercial lending centers in Southern California, Idaho and Utah.
In addition, changes to market interest rates may impact the demand for loans, levels of deposits and investments and the credit quality of existing loans. These rate changes have and may further adversely impact our liquidity, results of operations, financial condition and capital position.
We also may not be able to adequately prepare for, or compensate for, the consequences of such changes. Any failure to predict and prepare for changes in interest rates, or adjust for the consequences of these changes, may adversely affect our earnings and capital levels and overall results of operations and financial condition.
Contingencies In the normal course of business, the Company may have various legal claims and other similar contingent matters outstanding for which a loss may be realized. For these claims, the Company establishes a liability for contingent losses when it is probable that a loss has been incurred and the amount of loss can be reasonably estimated.
Pursuant to ASC 450, “Contingencies,” we accrue an estimated loss contingency liability when it is probable that such a liability has been incurred and the amount of the loss can be reasonably estimated.
Moreover, pursuant to federal law and Federal Reserve regulations, as a bank holding company, we are required to act as a source of financial and managerial strength to the Bank and commit resources to its support, including, without limitation, the guarantee of its capital plans if it is undercapitalized.
Source of Strength Under the Dodd Frank Act and Federal Reserve Policy, Mechanics Bancorp is required to act as a source of financial and managerial strength for Mechanics Bank.
If changes were to occur in the events, trends or other circumstances on which our estimates or assumptions were based, these changes could have a material adverse effect on the carrying value of assets and liabilities and on our results of operations.
As circumstances change, we may not realize the value of these intangible assets. If we determine that a material impairment has occurred, then we will be required to write off the impaired portion of intangible assets, which could have a material adverse effect on our results of operations in the period in which the write-off occurs.
Such support may be required at times when we may not otherwise be inclined or able to provide it.
This means that Mechanics Bancorp may be required to commit resources, as necessary, to support Mechanics Bank including at times when we may not be in a financial position to provide such resources, and it may not be in our, or our shareholders’ best interests to do so.
In addition, significant changes in the underwriting criteria of third party loan purchasers could increase our costs or decrease our ability to sell into the secondary markets. Any of these changes can have a negative impact on our liquidity, financial condition, results of operations and capital position.
Any such event or failure to manage our liquidity effectively could affect our competitive position, increase our borrowing costs and the interest rates we pay on deposits, limit our access to the capital markets and have a material adverse effect on our consolidated financial condition and consolidated results of operations.
Adverse economic and business conditions in the U.S. generally, and in our market areas, in particular, could affect our borrowers' ability to repay their loans and adversely affect our results of operations and financial condition.
Consequently, the ability of our business customers to repay their loans may deteriorate during period of high inflation, and, in some cases, this deterioration may occur quickly, which would adversely impact our results of operations and financial condition.
In light of these, and other credit issues, we cannot be sure that our allowance for credit losses will be adequate or that additional increases to the allowance for credit losses will not be needed in subsequent periods.
While we believe that our allowance for credit losses is adequate to cover potential losses, we cannot guarantee that future increases to the allowance for credit losses may not be required by regulators or other third-party loan review or financial audits.
Removed
ITEM 1. BUSINESS Unless we state otherwise or the context otherwise requires, references in this Form 10-K to "we," "our," and “us” refer to HomeStreet, Inc., a Washington corporation ("HomeStreet," or the "Company,") and its consolidated subsidiary, HomeStreet Bank (the "Bank").
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ITEM 1. BUSINESS Overview M echanics Bancorp, a Washington corporation, is a financial holding company and primarily operates through 121 -year- old Mechanics Bank, its wholly-owned subsidiary. Mechanics Bank is a full-service community bank wit h 166 branches throughout California, Washington, Oregon and Hawaii .
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Overview We are a diversified financial services company with offices in Washington, Oregon, California, Hawaii, Utah and Idaho serving customers throughout the western United States. We were founded in 1921 and are headquartered in Seattle, Washington.
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Following the strategic Merger of HomeStreet Bank with and into Mechanics Bank on September 2, 2025, with Mechanics Bank surviving the Merger as a wholly-owned subsidiary of the Company, the assets, liabilities and operations of HomeStreet Bank became the assets, liabilities and operations of Mechanics Bank.
Removed
We provide commercial banking products and services to small and medium sized businesses, real estate investors and professional firms and consumer banking products and services to individuals. As of December 31, 2024, we had $8.1 billion in total assets, $6.2 billion of loans and $6.4 billion of deposits.
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Headquartered in Walnut Creek, California, Mechanics Bank provides a wide range of products and services in consumer and business banking, commercial lending, cash management services, private banking, and comprehensive wealth management and trust services.
Removed
With the exception of the updates provided below, the information required under Part I. Item 1. – “Business” is incorporated by reference to Part I, Item 1, "Business" in our Annual Report on Form 10-K for the year ended December 31, 2023.
Added
Prior to merging with and into Mechanics Bank on September 2, 2025, HomeStreet Bank was principally engaged in commercial banking, consumer banking, and real estate lending, including construction and permanent loans on commercial real estate and single-family residences. It also sold insurance products for consumer clients.
Removed
The federal banking regulators regularly issue guidance regarding cybersecurity intended to enhance cyber risk management standards among financial institutions. A financial institution is expected to establish multiple lines of defense and to ensure their risk management processes address the risk posed by potential threats to the institution.
Added
It provided these financial products and services to its customers through bank branches, loan production offices and ATMs , and through online, mobile and telephone banking channels.
Removed
A financial institution’s management is expected to maintain sufficient processes to effectively respond and recover the institution’s operations after a cyberattack. A financial institution is also expected to develop appropriate processes to enable recovery of data and business operations if a critical service provider of the institution falls victim to this type of cyberattack.
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Ceasing the origination of auto loans in February 2023, Mechanics Bank continued to service its existing auto loan portfolio until May 1, 2025, when it entered into a servicing agreement with a third-party servicer to oversee and manage Mechanics Bank’s active portfolio of auto loans.
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The Bank has adopted an information security program that has been approved by its board of directors and reviewed by its regulators.
Added
The portfolio consisted of new and pre-owned retail automobile sales contracts purchased from both franchised and independent automobile dealerships in the United States. The Company’s business strategy is to offer a full range of financial products and services to our customer base consistent with a regional bank’s offerings while providing the responsive and personalized service of a community bank.
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In July 2023, the SEC issued a final rule that requires registrants, such as the Company, to (i) report material cybersecurity incidents on Form 8-K within four business days of their being deemed material, (ii) disclose cybersecurity policies and procedures and governance practices, including at the board and management levels, in Form 10-K, and (iii) present the disclosures in inline XBRL.
Added
We expect to maintain our business by: • marketing our services directly to prospective new customers; • obtaining new client referrals from existing customers; • adding experienced relationship managers, branch managers and loan officers who may have established client relationships that we can serve; • cross-selling our products and services; and • making opportunistic acquisitions of complementary businesses and/or establishing de novo offices in select markets within and outside our existing market areas.
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Company Culture As a financial institution, HomeStreet Bank occupies a position of trust with its shareholders, in the community, among its customers and employees, and with its regulators. We have earned that trust by developing a reputation for fairness, honesty, integrity and community service since the Company’s inception in 1921.
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Loan Products We are committed to offering competitive lending products that meet the needs of our clients, are underwritten in a prudent manner, and provide an adequate return based on their size, credit risk and interest rate risk.
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Our reputation is directly tied to the individual decisions, actions, and sense of business ethics of our employees. A high level of trust gives us a competitive advantage in an environment that is increasingly sensitive to business ethics.
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Our loan products include commercial business loans, single family residential mortgages, consumer loans, commercial loans secured by residential and commercial real estate, and construction loans for residential and commercial real estate development.
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Employees and customers are attracted to work for, and do business with, a company that prides itself on maintaining the highest degree of ethical standards.
Added
The lending units under which these loans are offered include: Commercial Banking; Mortgage and Consumer Lending; Multifamily Lending; Commercial Real Estate Lending and Residential Construction Lending and Private Banking. In addition, certain consumer loans are offered through our retail branch network.
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For all of these reasons, a commitment to fairness, honesty, integrity and community service are core values of the Company. 4 As part of this commitment to our core values, HomeStreet identified five key values built on specific behaviors that bring our values to life – a focus on customers, collaboration as one team, delivering excellence, embodying a spirit to serve the communities that we are in, and being engaged in our work in a manner that can be described as “all in." Further, HomeStreet management is inclusive of all employees from all backgrounds and employees feel a sense of belonging when working for the Company.
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We believe that we mitigate the risks inherent in our loan portfolio by adhering to sound underwriting practices, managed by experienced and knowledgeable credit professionals. These practices may include, among other considerations: analysis of a borrower’s prior credit history, financial statements, tax returns, cash flow projections, valuations of collateral based on reports of independent appraisers and verifications of liquid assets.
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Inclusion and Belonging HomeStreet is an equal opportunity employer where we strive to hire the best talent. By recruiting employees who are representative of the communities we serve, we are better able to serve our customers and understand their financial services' needs and goals.
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Although we believe that our underwriting criteria is appropriate for the various kinds of loans we make, we may incur losses on loans that meet our underwriting criteria, and these losses may exceed the amounts set aside as reserves in our allowance for credit losses.
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We have talented employees who bring unique differences, experiences, and capabilities in support of our mission and in alignment with our values. Our culture embraces individuality, provides fair treatment, and creates opportunities for employees to develop their careers, to be included in teams, and to be a part of broader and more strategic initiatives.
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Commercial Banking Loans originated by Commercial Banking are generally supported by the cash flows generated from the business operations of the entity to which the loan is made, and, except for loans secured by owner occupied commercial real estate, are generally secured by non-real estate assets, such as equipment, inventories or accounts receivable.
Removed
By treating our employees with appreciation for their individuality and with respect for their service, our employees demonstrate increased job satisfaction, a higher level of trust in leadership, and an increased sense of belonging within the Company. Our employees find increased job satisfaction, which we find translates to increased performance and a greater capacity for customer service.
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Commercial Banking is focused on developing quality full-service business banking relationships, including loans and deposits. We typically focus on commercial clients that are manufacturers, distributors, wholesalers and professional service companies. These loans are generated primarily by our relationship managers and business development officers with minimal direct marketing support.
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Our culture also promotes policies and practices to combat harassment, discrimination, retaliation, or disrespectful or other unprofessional conduct based on an individual’s identity, including sex, gender, sexual orientation, race, religion, color, ancestry, physical disability, mental disability, age, marital status and more.
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Commercial Loans: We offer commercial term loans and commercial lines of credit to our clients. Commercial loans generally are made to businesses that have demonstrated a history of profitable operations.
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All our employees are eligible to receive a Company match on defined contributions to their 401(k) retirement plan.
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To qualify for such loans, prospective borrowers generally must have operating cash flow sufficient to meet their obligations as they become due, good payment histories, responsible balance sheet management and experienced management.
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We also give time off for employees donating blood. Our senior management helps to educate our employees on the importance of our community responsibility focus and strategies.
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Commercial term loans are either fixed rate or adjustable rate loans with interest rates tied to a variety of independent indices and are generally made for terms ranging from one to seven years based in part on the useful life of the asset financed.
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ITEM 1A RISK FACTORS This Form 10-K contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this Annual Report.
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