HomeStreet, Inc. reported a net loss of $4.412 million, or $0.23 per share, for the second quarter ended June 30, 2025. This compares to a net loss of $4.465 million, or $0.24 per share, in the first quarter of 2025. The core net loss for the quarter was $3.050 million.
Net interest income increased by $0.6 million compared to the prior quarter, with the net interest margin expanding from 1.82% to 1.90%. Noninterest income increased by $3.0 million, and noninterest expenses decreased by $1.4 million, reflecting ongoing cost management efforts and a reduction in full-time equivalent employees to 750.
However, the provision for credit losses increased by $5.0 million due to adverse multifamily loan migration, and nonperforming assets rose to 0.76% of total assets. HomeStreet Bank, on a standalone basis, continued to be profitable with net income of $0.7 million. The merger with Mechanics Bank is still expected to close in the third quarter of 2025.
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