HomeStreet Bank sells three of its Spokane, Coeur d’Alene offices to HomeBridge
HomeBridge Financial buys Spokane ops as part of larger transactionSeptember 12th, 2019
New Jersey-based mortgage lender HomeBridge Financial Services Inc. has acquired three HomeStreet Bank standalone home loan centers in the Spokane-Coeur d’Alene area as part of a larger transaction.
In all, HomeBridge acquired 72 standalone home loan centers, including 37 centers in Washington state, from Seattle-based HomeStreet Inc., the parent company of HomeStreet Bank, since June.
That includes two centers in Spokane and one in Coeur d’Alene.
“There were changes taking place at HomeStreet that necessitated us making a move, and Homebridge is a fantastic fit,” says Natalie Overturf, Coeur d’Alene-based HomeStreet regional manager. “While they’re new in our area, across the country, Homebridge is recognized for its commitment to customer service in the mortgage industry.”
Jack Follman, of Remedy PR, a spokesman for both HomeBridge Financial regarding the transaction, says HomeBridge has kept all HomeStreet home loan center staff in place and expects to conduct a second transaction to acquire additional HomeStreet stand-alone home loan and fulfillment centers.
Acquired HomeStreet standalone home loan centers have been rebranded as HomeBridge centers, Follman says.
Follman declines to disclose the terms of the transaction.
With the acquisition, HomeBridge now operates more than 240 retail branches and has more than 2,300 employees, he says.
HomeStreet Bank continues to operate one branch here, at 818 W. Riverside, and a lending and commercial real estate office at 201 W. North River Drive.
Following the acquisition, the company no longer has a physical presence in Coeur d’Alene.
HomeBridge has one branch in Spokane, at 201 W. North River Drive, Ste. 600, and one in Spokane Valley, at 16114 E. Indiana, Ste. 310.
HomeBridge also has a branch in Coeur d’Alene, at 1900 Northwest Blvd.
As reported by Tech News Observer, analysts forecast that HomeStreet Inc. will post $64 million in sales for the current fiscal quarter.
HomeStreet posted sales of $110 million during the year-earlier quarter.