BUZZ-HomeStreet Bank rises after $906 mln loan sale to Bank of America

Reuters
2024-12-27
BUZZ-<a href="https://laohu8.com/S/HMST">HomeStreet</a> Bank rises after $906 mln loan sale to Bank of America

** Seattle-based HomeStreet Bank's HMST.O shares climb ~6% to $11.62

** Lender agrees to sell nearly $990 million of its multifamily commercial real estate loans to Bank of America BAC.N

** BAC will pay $906 mln for the portfolio, about 92% of the total value of the loans

** Deal may set the stage for a return to profitability next year, HMST says

** HMST has risen 6.6% YTD as of last close

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))

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