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

Reuters
27 Dec 2024
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))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10