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HomeStreet ] HomeStreet Reports First Quarter 2021 Results Fully diluted EPS $ 1.35 ROE : 16.4 % ROTCE : 17.3 % ROAA : 1.65 % SEATTLE - April 26 , 2021 – ( BUSINESS WIRE ) - HomeStreet , Inc. ( Nasdaq : HMST ) ( including its consolidated subsidiaries , the " Company " or " HomeStreet " ) , the parent company of HomeStreet Bank , today announced the financial results for the quarter ended March 31 , 2021. As we present non - GAAP measures in this release , the reader should refer to the non - GAAP reconciliations set forth below under the section " Non - GAAP Financial Measures . " " HomeStreet's earnings during the first quarter of 2021 reflected strong underlying performance across all of our lines of business making our first quarter a great start to the year , ” said Mark K. Mason , HomeStreet's Chairman of the Board , President , and Chief Executive Officer . “ During the first quarter , our net interest margin increased as a result of ongoing improvements in funding costs , we once again benefited from high loan volume and profitability on loans sold , and we continued to aid our customers and communities most at - risk during the pandemic by originating $ 123 million of Paycheck Protection Program ( " PPP " ) loans during the quarter . In particular , our single - family mortgage banking loan volume and profit margins continued at the high levels we have experienced since the second quarter of last year . Additionally , our non - interest expenses for the quarter reflected meaningful reductions in information services , occupancy and general and administrative and other expenses as a result of our ongoing focus on cost reduction and profitability improvement . " First quarter 2021 compared to fourth quarter 2020 Reported Results : • First Quarter Operating Results Financial Position • • • • Net income : $ 29.7 million compared with $ 27.6 million Earnings per fully diluted share : $ 1.35 compared to $ 1.25 Net interest margin : 3.29 % , compared to 3.26 % ROE : 16.4 % compared to 15.3 % ROTCE : 17.3 % compared to 16.2 % Return on average assets : 1.65 % compared to 1.47 % Efficiency ratio : 60.0 % compared to 56.1 % Core Results : • • • • • Net income : $ 29.7 million compared with $ 32.4 million Earnings per fully diluted share : $ 1.35 compared to $ 1.47 ROTCE : 17.3 % compared to 19.0 % Return on average assets : 1.65 % compared to 1.73 % First quarter 2021 compared to fourth quarter 2020 Loan portfolio originations : $ 769 million , a 5 % increase Single family loans held for sale originations : $ 624 million , a 1 % decrease Commercial and consumer noninterest - bearing deposits increased 9 % Period ending cost of deposits : 0.21 % , compared to 0.29 % Book value per share : $ 32.84 , compared to $ 32.93 Tangible book value per share : $ 31.31 , compared to $ 31.42 1