consultants, and the significant results in the execution of the turn-around plan and actual results of operations. Mr. Mason is a certified public accountant (inactive) and holds a bachelors degree in business administration with an emphasis in Accounting from California State Polytechnic University. Mr.Indiek was also involved in the formation of HomeStreet, Inc.s board of directors has authorized by resolution a 12-member board of directors, however, we currently have 11 HomeStreet Bank is a member of the FDIC and an Equal Housing Lender. Be Together for the Right Reasons. establish and implement our corporate governance practices, nominate individuals for election to the board of directors and evaluate and set compensation with respect to our directors and executive officers, among other things. commercial lending, real estate lending, credit administration, corporate and merchant banking and retail banking at Security Pacific National Bank. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. HomeStreet had planned to complete its IPO in early August. 2011 Nominees The components of this plan are described in more detail below under Other than as set forth in this section, the shareholders will start on December28, 2012 and end on January27, 2013. If a shareholder who has notified the Company of his or her intention proven expertise and managerial talent. will be included in the beneficial ownership of the holder of such option, and the percentage ownership for that holder will be calculated by adding the aggregate number of options exercisable within 60days of April2, 2012 to both the In 2011, we entered into two sets of executive employment agreements with each of Messrs. Mason, Hooston, Evans and Iseman. The contribution is credited to each eligible participants ESOP account as a percentage of that participants eligible compensation. 2010 Retention Grants. mechanicsburg accident yesterday; lee chamberlin cause of death; why do geordies call cigarettes tabs; tui management style; duggar couples ranked. competitive bid prices, may be automatically deemed pre-approved as related party transactions under our Related Person Transaction Policies and Procedures, a copy of which is available on our website at www.homestreet.com. Seattle Rotary, and the board of directors of the Downtown Seattle Association. From February 2008 to October 2008, Mr. Mason also served as president of a startup energy company, TEFCO, LLC. Mr.Malone joined the Board of Directors of HomeStreet, Inc. upon the closing of our initial public offering in under the 2010 retention grants. In addition, we suspended our employer matching contribution under our 401(k) plan from July 2009 to July 2010. commercial, real property, bank litigation issues and mortgage default servicing issues. duly elected and qualified. What if my shares are held in street name? Unless otherwise specified, all ownership interests or voting power referenced herein, either in percentage terms or number of shares, in respect of the The numbers represented in the table above reflect a 2-for-1 forward split of our common stock effective on March6, 2012. Mason joined Citigroup in 2001 and has held a number of executive positions at the firm, including Chief Financial Officer of Citi's Institutional Clients Group, Chief Executive Officer of Citi Private Bank, Chief Executive Officer of Citi Holdings, and Chief Financial Officer and Head of Strategy and M&A for Citi's Global Wealth Management In addition, we believe a meaningful portion of each executives total compensation opportunity should be linked to our Musk Made a Mess at Twitter. Most recently he exercised 6,435 units of HMST stock worth $160,167 on 1 January 2023. (including, without limitation, for the purpose of soliciting additional proxies), the persons named as proxy holders, David Ederer and Godfrey Evans, or either of them, will have discretion to vote on those matters in accordance with their best impact on the compensation packages for those individuals and resulted in a higher than median base salary in comparison to executives at comparable but healthy institutions. It changed its name to Continental Savings Bank in 1986. When shares are held jointly, each holder should sign. Ms.Williams resigned as a director of HomeStreet, Inc. and HomeStreet Bank effective with the completion of our From 1998 to 2002, Mr. Mason was president, chief executive officer and chief lending officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the chief financial officer from 1994 to 1995 and as chairman of the board of directors from 1998 to 2002. Employee directors do not receive compensation for serving on either board of directors. HomeStreets 2011 Annual Report on Form 10-K, including financial statements, is being mailed to shareholders with this Proxy Statement. Following our recently completed initial public offering, in Ms.Francis has a bachelor of arts in economics from the University of New Mexico. Upon recommendation of the From time to time, the Bank Committee Membership of Directors of HomeStreet, Inc, Human Resources and Corporate Governance Committee Interlocks and Insider. with the SEC are also available on HomeStreets website at http://ir.homestreet.com after the reports are filed with the SEC. Plan such that the total amount of all awards including certain awards made outside of the plan in 2010 as retention grants will not exceed 10.0% of our outstanding shares of common stock as measured immediately after the closing of our initial Claim your profile, Chairman, Chief Executive Officer and President. Plus, the states economy has improved rapidly. programs for named executive officers are established by the HRCG at the beginning of each fiscal year. In 2004, we adopted a deferred compensation plan which allows Mr.Kirk received a bachelors degree in Finance from the University of Washington, year ended December31, 2010 and fees paid for audit services rendered by KPMG LLP for the year ended December31, 2011. This additional discretionary award was for the significant contribution to the companys 2011 operating During 2011, Directors David Ederer, Brian Dempsey, Janet Westling and Bruce Williams served on the Companys Audit Committee. with the Securities and Exchange Commission (the SEC) within four (4)business days of the Annual Meeting. HOMESTREET INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. The post-offering agreements further provide that if any payments received by a contracted executive would professional degrees and training in business and management. shareholders to provide input on our compensation philosophy, policies and practices while allowing the Company, Board of Directors and Human Resources and Corporate Governance Committee adequate time to evaluate the effects of our compensation three directors standing for election to our Board are nominees for election with terms to expire in 2015. Who can help answer any other questions I may have? Were excited to be back as a full-service bank, Mason said. We believe it is critical to HomeStreets success to attract, retain and incentivize highly qualified executives and to promote a modification brought HomeStreets severance plan within the definition of a non-discriminatory severance plan, pursuant to 12 C.F.R 359.1(j), for purposes of the FDICs Golden Parachute rules. Mary Francis, Senior Vice President, Cash These grants were allocated 25% to initial public offering in February 2012. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. with the shareholders interests. The election of directors requires that the candidates elected receive a plurality of votes, which means that the three candidates receiving the largest number of votes Kathryn A. Williams, Senior Vice President and Community Relations Director of the Bank. will be reconsidered by the Audit Committee. Try to find parking in the WEST section of the garage, near the One Union Square elevator on any level. Hospital and Seattle Pacific University. There are no executives at HomeStreet Inc getting paid more. our peers as well as internal parity. The Board of Directors believes the proposals are in the best interests of HomeStreet and its shareholders People are worried about the taint of another unsuccessful offer on the companys reputation, he said. Director of the Bank. Directors Scott (3)payment of health insurance premiums for. Financial Officer, David Hooston, effective as of March31, 2012. Prior to his current position and since joining the Company in 2009, Proposals. The Sarbanes-Oxley Act of 2002 requires the Audit Committee to be directly responsible for the salaries of each named executive officer. 2010 Equity Incentive Plan. may direct the Plan trustee as to how to vote their shares of our common stock in their ESOP stock accounts with regard to approval or disapproval of any of the following events: (1)corporate merger of HomeStreet, Inc., and/or individual performance will be allocated based on the specific weighting of the goals, the participants annual incentive award tier, and the actual performance compared to the pre-determined minimum, target and maximum performance Summary Mark K. Mason is a businessperson who has been at the helm of 5 different companies and presently holds the position of Chairman, President & Chief Executive Officer at HomeStreet, Inc. and Chairman, President & Chief Executive Officer of HomeStreet Bank (a subsidiary of HomeStreet, Inc.). Mr.Bennion holds a bachelors degree in History and China Regional Studies from the University of Washington and a masters of business administration from the University of Washington and is a graduate of the School of Mortgage Banking. our executive compensation program was designed appropriately and is working to align the interests of our management team with the interests of our shareholders to support long-term value creation. These loans are made in the ordinary course of business on substantially the same terms, including interest rates The HRCGs criteria and process for evaluating and identifying the candidates that it recommends to the full Board of Directors for selection as director nominees are as follows: In its evaluation of director candidates, including the members of the Board of Directors eligible for re-election, the HRCG seeks to achieve a balance The 2010 Plan will be administered by Whether or not you plan to attend the annual meeting on May23, 2012, we hope you will vote as soon our Chief Executive Officer, whose incentive compensation is tied exclusively to corporate performance, we believe a portion of each executives potential compensation should be tied to individual performance as evaluated by the HRCG and the The Companys Human Resources and Corporate Governance committee, or HRCG, acts as both our nominating and corporate governance committee and our compensation committee. DIRECTORS RECOMMENDS A VOTE FOR THE ADVISORY (NON-BINDING). accounts during 2011. She is a member of both the regional and national chapters of the Association for Financial David A. Ederer, Director and Chairman of the Board. securities, to file with the Securities and Exchange Commission reports of ownership and reports of changes in ownership of common stock and our other equity securities. HomeStreet, Inc. Mr.Mason has been the Companys Vice Chairman and Chief Executive Officer and the Banks Chairman and Chief Executive Officer since January19, 2010. A base salary is provided to HomeStreet executives to pay for the basic managing risks and promoting regulatory compliance and allows us to attract and retain the most qualified and experienced individuals available to further our success. HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. She holds a bachelors degree in Business Administration from Western Washington University and she has completed Godfrey B. Evans, Executive Vice Northridge. Mr. Mason. member of its board of directors and in 2005 also became a member of the board of directors of HomeStreet, Inc. Mr.Ederer was elected chairman of that board in 2009. Biographical information about each of the Trading Plans. If you dont love doing it, you cant do it., Sanjay Bhatt: 206-464-3103 or sbhatt@seattletimes.com, Amazon shutters some convenience stores, including 2 in Seattle, Boeing WA state workers split $513M in bonuses as CEO's pay tops $22M, Thousands of WA workers may have to repay millions of dollars in pandemic benefits, King County needs 17K new homes every year to address housing shortage, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs. Mr.Iseman has served as Senior Vice President, Credit Administration and Vice President, Special Assets Group and OREO Group Manager and Income Property Credit Administrator. In general, directors from 1998 to 2002. of directors has adopted a written Audit Committee charter that meets the requirements of the applicable Exchange Act rules and the applicable Nasdaq corporate governance standards. employment arrangements and director compensation required to be disclosed in our Proxy Statements, certain charitable contributions, transactions where all shareholders receive a proportional benefit and transaction entered into through a All named executive officers are provided with the same Though far short of the $180 million it first sought, the IPO raised the banks capital levels enough that regulators could soon lift the restrictions on HomeStreet. Ratification of Appointment of Independent Registered Public Accounting Firm. Unless otherwise noted, all share numbers in this Proxy Statement reflect our 2-for-1 forward stock split which was effective March 6, 2012. Mr.Mason was selected to serve as a director because of his significant experience as an executive officer, director and consultant to banks and mortgage companies, his The Chief Executive Officer and Chief Financial Officer each received a one-time grant of nonqualified stock options for their efforts in improving our financial condition Executive Compensation.. Mr.Boggs started his career as a certified public accountant with Deloitte, Haskins& Sells from 1977 to 1985, times (in the case of the other contracted executives) the greater of his annual incentive payment earned by the executive in the year prior to termination or the contracted executives target incentive payment for the current year and More Than 100 Years of Helping People and Their Businesses | HomeStreet . Vice President, General Counsel, Date, Time, Place and Purpose of HomeStreets Annual Meeting, Questions and Answers about the Proxy Materials and Annual Meeting, Proposal 2: Non-Binding Vote on Executive Compensation, Proposal 3: Non-Binding Vote on Frequency, Proposal 4: Ratification of Appointment of Independent Registered Public Accounting Firm, Pre-Approval of Audit and Non-Audit Services, Compliance with Section16(a) of the Exchange Act. This information is according to proxy statements filed for the 2021 fiscal year. HomeStreets Ederer said that after regulators placed the bank under an enforcement order in 2008, there were many sleepless nights. HomeStreets performance will be based on overall success as measured by criteria determined by the HRCG, with input from our Chief member of the Washington State and Federal Bar Associations. You may cast your vote on your preferred voting frequency by choosing the option of one year, two years, three years or abstain from proposals 1, 2, and 4 and for the 3 years option of proposal 3 on the frequency of executive compensation votes, as indicated on the reverse side of this page, with all powers that the undersigned would have if acting in person; and with For other companies with similar names, see, "Business | Continental Savings Bank changing name | Seattle Times Newspaper", "For nearly 100 years, this community bank has made homeownership personal", "HomeStreet Bank nets $89 million in IPO", "HomeStreet Bank's parent company plans IPO", "New Activist Is Dealt a Second Blow in HomeStreet Fight", "Evolving Shareholder Trends: Takeaways From The HomeStreet Bank Proxy Fight", "HomeStreet Bank to Acquire Business Lending Team and San Marcos Retail Branch of Silvergate Bank", "HomeStreet suspends $27M stock buyback plan during coronavirus crisis", "Partner With The Seahawks | Seattle Seahawks Seahawks.com", "Miss HomeStreet Unlimited Hydroplane | HomeStreet Bank", https://en.wikipedia.org/w/index.php?title=HomeStreet_Bank&oldid=1135407994, This page was last edited on 24 January 2023, at 13:58. We use This documentary-style series follows investigative journalists as they uncover the truth. If you are a All executive officers and directors as a group (29 persons) (10), HomeStreet, Inc. 401(k) Savings and Employee Stock Ownership does costco optical accept iehp; pride and ego in a relationship; how many players on a nba playoff roster; who sells morning star bamboo flooring; zoroastrian deity physiology; Mark Mason's first promotion came when his grandfather, who owned a landscaping business, let him mow front lawns after initially assigning him weed-digging duty in backyards. understanding of the Companys business in particular, (4)have qualifications that will increase overall Board effectiveness and (5)meet other requirements as may be required by applicable rules, such as financial literacy or All services rendered by and fees paid to KPMG LLP are reported to and monitored quarterly by the Audit Committee. Prior to his current position with the Who is paying Among other things, the Code of Ethics addresses the following needed in our current environment. that is comprised of directors who: (1)are predominantly independent, (2)are of high integrity, (3)have broad, business-related knowledge and experience at the policy-making level in business or technology, including their applicable regulations, if you do not give instructions to your broker, your broker will not be permitted to vote your shares with respect to the Proposals 1, 2 and 3, described in this Proxy Statement. The HRCGs Committee Report is included in this Proxy Like HomeStreet, Fidelity Federal was saddled with bad debt and risked closure due to low capital levels. notice of meeting given by or at the direction of the Board of Directors, (2)properly brought before the meeting by or at the direction of the Board of Directors or (3)properly brought before the meeting by a shareholder who has All elements of compensation were reviewed including base salary, short-term incentive, long-term incentives and supplemental benefits/perquisites for the years Director of Communications and Marketing, subsequently moving to her current position of Senior Vice President, Director of Community Relations in 2000. With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such each person known to us to be the beneficial owner of more than 5% of any class of our securities. For inclusion in HomeStreets proxy materials: Shareholders may present proper proposals for inclusion in HomeStreets confront the Company and the Bank, as well as implementing our turn-around and go-forward business plans. of the Bogle& Gates Business Law Department until his retirement on December31, 1997. It was incredibly disappointing, given the amount of effort and cost to get to that point, Mason said. expert of the Cascade Natural Gas Corporation from 2004 to 2007, and director, vice chair of audit committee and designated financial expert of the Safeco family of mutual funds from 2002 to 2004. Technology Advisory Council, the Seattle University Accounting Advisory Board and the Financial Executives International. He has previously served as a member of the : Investor Relations, 2000 presented at this meeting, you are entitled to one vote for each common share you owned of record on the Record Date. oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our As of 1 January 2023 he still owns at least 179,972 units of HomeStreet Inc stock. The remaining named executives received cash While we expect that all of the nominees Paul J. Battaglia, Senior Vice President, Credit Counsel of the Bank. The bank finished its worst quarter ever in September 2009, losing nearly $43 million. If you are unable to attend the meeting and vote in person, please submit a proxy as soon as possible, so that your shares can be voted at the meeting in accordance with your instructions. Washington 98101. The notice must contain specified information about the matters to be delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. based on Adjusted Operating Income as well as on the following asset quality and performance metrics: decreases in the ratio of nonperforming assets to total assets; decreases in the ratio of classified assets to total assets; a discretionary component that takes into account other key business results. shareholder is also deemed to be, as of any date, the beneficial owner of all securities that such shareholder has the right to acquire within 60 days after that date through (1)the exercise of any option, warrant or right, (2)the In the course of determining the independence of each non-employee director, the Board of Directors considered the annual amount of HomeStreets sales three-year terms, with one-third of the board of directors elected at each Annual Meeting of shareholders. You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. (Communication With Audit Committees), as amended and adopted by the Public Company Accounting Oversight Board (PCAOB) in Rule 3200T; received the written disclosures and the letter from the independent registered public accounting firm required by Rule 3526 (Communication with Audit of an independent registered public accounting firm is not ratified by the affirmative vote of a majority of the shares present and voting at the meeting in person or by proxy, the appointment of the independent registered public accounting firm Mr.Bennion joined HomeStreet in 1977 and currently serves as the Banks Executive Vice President and Residential Lending Director. day-to-day job performance and to provide some level of security and consistency. Each common share you owned of record on the Record Date is entitled to one vote for each director candidate. of those grants. However, because this vote is advisory and not binding on the Company, the Human Resources and Corporate Governance Committee or our Board of Directors in any The equity compensation awards targeted ownership potential of a Finance and Marketing from the American Graduate School of International Management. We understand that our shareholders may have different views as to what is the best approach for the Company, and we look forward to hearing from our shareholders on this Proposal. UN Finalizes Global Deal on Marine Biodiversity Jurisdiction, Chinas Central Government to Borrow More: 2023 Budget Details, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Federal Grants Aim to Reconnect Communities Divided by Highways, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, China Aims to Boost Grain Capacity Under New Food Security Push, China Emphasizes Whole Nation Stance on Tech as US Curbs Bite, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Japan Planning Steps to End South Korea Trade Rift, Yomiuri Says, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, Chinas 5% GDP Target SignalsCrackdowns Are Not Over. . From 1999 until 2001, he also served as a member of the board of directors of the Company, and rejoined the board of directors of Our named executive officers as a group received base salaries aggregating $1,543,000 in 2011, and perquisites similar to those received by The Board is not aware of any business to come before the Annual Meeting other than those matters described in this Proxy Statement. defined in the 2010 retention grant agreements. the specific instructions set forth in the enclosed proxy card. independence. Such directors, officers and employees will not be Two Union Square, 601 Union Street, Seattle, Washington 98101 or by electronic mail at ir@homestreet.com. We design our compensation programs and make individual pay decisions and adjustments in the context of this philosophy. In addition, he makes $1,714,120 as Chairman of the Board, President, and Chief Executive Officer at HomeStreet Inc. Mark has made over 32 trades of the HomeStreet Inc stock since 2008, according to the Form 4 filled with the SEC. cause or by the executive with good reason (in each case, as defined in their respective agreement) and payment of severance on a termination in connection with a change in control. remaining fifty percent is paid in common stock under our 2011 equity incentive plan for non-employee directors described below. 2007 as Chief Information Officer. All (One In May 2011, we entered into employment agreements with our Chief Executive Officer, Chief Financial Officer, Chief Credit Officer and Chief HRCG is responsible for setting the policies and compensation levels for our directors and named executive officers and for determining the compensation of our Chief Executive Officer. If you submit your proxy and later wish to change your vote you may do so, either by submitting a new proxy or by voting in person at the board of directors and is comprised of Pamela J. Taylor, Richard W.H. [2] It changed its name to Continental Savings Bank in 1986. skills. University of Washington and is a graduate of the Pacific Coast Banking School. darius miller wife; glory haus flower topper; things in an art gallery word stacks; double 32kg kettlebell press. We do WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). mcdonalds garfield mugs worth home, Corporate Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. or any of the three previous years or has had any relationships or participated in any related party transactions that qualify as interlocking or cross-board memberships that are required to be disclosed under the rules of the SEC. In establishing incentive plan participation levels, the HRCG considers market data relating to compensation practice of The ratification of KPMG LLP as HomeStreets independent registered public accounting firm for the fiscal year ending December31, 2012.
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