Financial Statements, Historic We granted awards of 161,446 shares to Mr.Mason, 45,206 Finance and Marketing from the American Graduate School of International Management. Mr.Battaglias career in both private practice and as in-house HomeStreet, Inc. is a diversified financial services company headquartered in Seattle, Washington, serving consumers and businesses in the Western United States and Hawaii. oversee and make decisions regarding executive management salaries, incentive compensation, long-term compensation plans and equity plans for our with any financial reporting requirements as a result of misconduct, our Chief Executive Officer and Chief Financial Officer must reimburse the Company for: (1)any bonus or other incentive or equity-based compensation received during the You may also find these items online, along with our Form 10-K, at http://ir.homestreet.com. Mr.Morrison served as a member of the board of directors of HomeStreet, Inc. from 2003 until May 2008, But after the market reacted wildly to a leading bond-rating agency downgrading the credit of the U.S. government, it postponed the offering. 6.0% of eligible compensation (subject to IRS limits). Mark K. Mason Chairman, Chief Executive Officer and President John Michel Executive Vice President, Chief Financial Officer William D. Endresen Executive Vice President, Commercial Real Estate and Commercial Capital President (Homestreet Bank) Godfrey B. Evans Looking forward, Mason said hes excited to see HomeStreet grow its mortgage-lending business. Our articles of incorporation provide that directors are elected for Under our present bylaws, directors must comply with all applicable laws and regulations, including any required approvals from our regulators. 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. the Bank. 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. for Gibson, Dunn& Crutcher LLP from 1982 to 1987. The stock options vest ratably in thirds over each of the first three anniversaries of the completion of the offering, while the Perquisites and other Personal Benefits. Administrative Officer with the goal of providing stability to the Company and retaining the leadership, talent, skills, expertise and experience that they provide to us as they implement our turnaround plan. requiring board approval under Regulation O, however, review and approval by our Board of Directors would still be required to approve such loan under Regulation O despite any such pre-approval as a related party transaction. delegated oversight of certain categories of risk to the Audit Committee and the Human Resources and Corporate Governance Committee, or HRCG. As Chief Executive Officer at HOMESTREET INC, Mark K. Mason made $2,502,021 in total compensation. In We believe that the information provided above and within the Executive Compensation section of this Proxy Statement demonstrates that More Than 100 Years of Helping People and Their Businesses | HomeStreet . Who is paying All incentive compensation plans are approved by the HRCG as required by regulatory guidelines. Bennion and Patricia A. Leach. Mr.Mason brings extensive HomeStreet has an insider trading policy that prohibits, among other things, short sales, hedging of stock February 2009 to March 2012. Repertory Theatre. of such principles; administer our equity incentive plans, pursuant to the authority delegated to it by our Board of Directors; set the corporate goals and objectives, if any, relevant to our executive officers compensation and evaluate our executive officers The following is a summary of certain key points of our 2011 executive compensation 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 Cascade Land Conservancy Advisory Board. We believe that our compensation program is reasonable and appropriate based in part on the analysis and advice of our outside compensation However, the Board of Directors is submitting the selection of KPMG LLP to our shareholders for ratification as a matter of good corporate practice. Mark Mason is a Chairman & Chief Executive Officer at HomeStreet Bank based in Seattle, Washington. The purpose of the 2010 Plan is to give us a competitive position in attracting, retaining and motivating officers, employees, As of the record date, 7,162,606.8 shares of our common stock were issued, outstanding and entitled to vote at the Annual Meeting. 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 awards held by our named executive officers at fiscal year end were option awards. candidate, which review may, in the HRCGs discretion, include interviewing references for the candidate, direct interviews with the candidate, requesting additional information to be shared with our regulators or other actions that the HRCG We adopted a broad-based, non-discretionary severance plan following approval by our In general, It is our first annual meeting since the completion of our recent initial public offering and we hope you can attend. As of December31, 2011, none of our directors or executive officers had entered into a Rule 10b5-1 trading plan. We suspended this plan in 2008 due to HomeStreets financial condition and as a result none of our named executive officers were This proxy, when properly executed, will be voted in the manner directed herein by the undersigned shareholder(s), but if no direction is made, this proxy from $1.125 to $1.50 per share. At each annual meeting, our shareholders elect directors within one class, and each class is staggered in a manner that causes In the event that this selection At the meeting, the Companys shareholders will be asked to approve a proposal to elect three nominees for the Board To be brought before an annual meeting: In addition, our bylaws establish an advance notice We also intend to enter into indemnification agreements with our future directors and executive officers. She has served as Senior Vice President of the Bank since 1988, and as Vice President of Loan Administration at the Bank from 1978 through 1985. Our Articles of Incorporation provide that our directors will serve a term of three years or until their respective successors are We generally do not pay bonuses under any of our incentive in each of the last two fiscal years were pre-approved by the Audit Committee. our peers as well as internal parity. community bank located in Bellevue, Washington. Prior to his current position with the $481,226 in 2012, based on performance in 2011, and our named executive officers as a group received awards of $1,181,316 in the aggregate. logo are registered trademarks of HomeStreet, Inc. equal not required by our bylaws or other applicable legal requirements. 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. in connection with the closing of our initial public offering in February 2012 that were subject to vesting based on increases in our stock price above the initial public offering price, but to date the HRCG has not made any other awards conditioned Prior to that, Mr.van Amen served as the quantitative analytics manager for the Royal Bank of Canada, vice president and balance sheet manager at Old Kent That was the point where we felt we had someone who was going to guide us through the malaise, Ederer said. Prior to joining the Bank, Mr.Boggs was employed by Microsoft Corporation from 1993 to 2003 where he served in a variety of positions including vice president, Mr.Morrison received a bachelors degree in Business Administration and Accounting from the University of Washington and a law degree from Stanford Law School. All institutions. control by the Company other than for cause or by the contracted executive for good reason, in conjunction with a mutual release agreement, the contracted executive will receive an amount equal to the sum of: including the named executive officers. Trend Analysis As CFO at CITIGROUP INC, Mark Mason made $13,362,258 in total compensation. Prior to that, Mr.Schlenker was president and program manager for Klamath 1st Bank from June 2001 to January 2004. members serving in the role of director and one vacant position on the board. Chairman, Chief Executive Officer and President Mr.Indiek holds a bachelors degree in accounting from the University of Kansas, is a certified public accountant and a California real estate broker. Jeffery D. Schlenker, Senior Vice President, Program Manager of HomeStreet Investment Services of the Bank. professional degrees and training in business and management. the cost of preparing, assembling and mailing the notices of the Annual Meeting, Proxy Statement and form of proxy and the solicitation of the proxies? Following the offering, the committee has adopted a policy that, where reasonably practicable, we seek to qualify the variable compensation paid to our named executive If we are required to restate our financials due to noncompliance The notice must contain specified information about the matters to be Regulatory Oversight Director. outside compensation consultant. Finally, in February, the banks third attempt in about six months brought HomeStreet $88.7 million. 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 Mr.Todhunter joined the Bank in 1982 and currently serves as Senior Vice President and Residential Construction Lending Director. The 2010 Plan will be administered by two years or three years that receives the highest number of votes cast for this resolution will be determined to be the preferred frequency with which the Company is to hold a shareholder vote to approve the compensation of the named executive The remaining named executives received cash department and/or individual performance will be based on the department and/or plan participants individual success as measured against the predetermined goals. Under these rules, more than one person may Mr.Ederer joined the Bank in 2004 as a officers, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the other related disclosure.. With regard to candidates who are properly recommended by shareholders or by other means, the HRCG will review the qualifications of any such University of Washington School of Law. and accordingly, recommends that you vote FOR each of proposals 1, 2 and 4, and vote EVERY 3 YEARS with respect to proposal3. your shares will be voted as you instruct. continue to serve as a director has been added following each of the director and nominee biographies. executive and his dependents for up to 18 months. high-performance culture. Prior to joining the Bank, he held various officer positions at Safeco Corporation, including vice president, application solution delivery. all proxy cards to ensure that all your shares are voted. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. As of year-end 2011, the company earned $16.1 million in net income. Mark Mason is chairman, president and CEO of HomeStreet Bank, a regional bank headquartered in Seattle. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Our board of directors is divided into three classes and one-third of our directors are elected each year She is an associate member for the Corporate Council of the Arts. Additionally, for our Chief Executive Officer and Chief Financial Officer, the corporate component of their incentive awards for 2011 was Executive Deferred Compensation. with turnaround skills and experience we believe were necessary to resolve problem assets and recapitalize HomeStreet. The pre-offering agreements also provided for annual incentive payment opportunities of no less than 50.0% of Mr.Masons salary. He also served as president and #H1Rewind HomeStreet Bank - HomeStreet Bank CEO Mark Mason talks about the Miss HomeStreet partnership Log In AS THERE SPECIFIED. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. These agreements continue for a term of three years We are still in discussions with KPMG LLP regarding the final amount of fees to be paid for such services for the Mr.Morrison was selected to serve as a director Among other things, the Code of Ethics addresses the following It was a big credibility issue for them as well.. The 2010 equity incentive plan was not effective for 2011. market commercial lending, and vice president, business banking. View All Leadership Share Bio Chairman and Pres & CEO of HomeStreet Inc, the total compensation of Mr Mason at HomeStreet Inc is $1,633,200. Patricia A. Leach, Executive Vice President of Home Street, Inc.; Executive Vice President and Income Property Lending On average, HomeStreet Inc executives and independent directors trade stock every 9 days with the average trade being worth of $104,339. A copy of our code of ethics (Code of Ethics) is available on our website at http://ir.homestreet.com. To view Mark K. Mason's complete executive work history, 1100 Marshall Street, Redwood City, CA 94063 | Phone (650) 241-6600 | Fax (650) 701-0993, President, Chief Executive Officer and Director, Former Senior Executive Vice President and Mortgage Lending Director, HomeStreet Bank, Sign up now to view Mark K. Mason's 74 connections . the Dodd-Frank Wall Street Reform and Consumer Protection Act. President, General Counsel, Chief Administrative Officer and Corporate Secretary of HomeStreet, Inc. and the Bank. Health and Welfare Benefits. ESOP employer-directed investment accounts are invested in stocks, bonds and other investments selected by the ESOP fiduciary, the Companys retirement benefits committee. ABOVE BY SIGNING AND RETURNING THE ATTACHED PROXY TO THE COMPANY. More specifically, From 1999 to 2002 he served as a director and chairman of the audit committee of Bank Plus Corporation and Fidelity Federal Bank. Dempsey, Tom King, Mike Malone and Doug Smith. forward stock split that was effective March6, 2012); the remaining 25.0% were granted as restricted stock awards. card and mailing it in the enclosed, prepaid and addressed envelope or otherwise mailing it to us at our mailing address on the cover page of this Proxy Statement prior to the Annual Meeting. a retired business attorney. Because the Company did not have a registered class of securities in fiscal year 2011, no Section16 reports were due during that year. in Business Administration from the University of Washington. WEST parking in the vicinity of a One Union Square elevator will be closer to the Hilton.). these persons had or shared the right to vote or dispose of approximately 13% of our common stock as of the Record Date. In particular, the Chief Executive Officer provides recommendations relating to other executive officers; however, after the HRCG reviews and discusses the Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association and is an advisory board member of Seattle University's Albers School of Business and Economics. regulators on February25, 2009. DOUGLAS I. SMITH. Pursuant to the Separation Agreement, Mr.Hooston received, among other things, a $300,000 severance payment, representing one-years base salary, [subject to regulatory approval or Based on the results of this assessment, we do not believe that our compensation policies and practices for all employees, including non-executive officers, create risks that are reasonably likely THE BOARD On March14, 2012, we announced a mutually agreed upon separation with our Chief will each earn an annual retainer of $30,000, and the chairman of the HomeStreet board of directors and the Banks lead director, who will earn an annual retainer of $40,000. HomeStreet, Inc., d.b.a HomeStreet Bank, together with its subsidiaries, provides various financial services primarily in Washington, Oregon, California, and Hawaii.The company was founded as Continental Mortgage and Loan Company in 1921 by W. Walter Williams. All employees, including our named executive officers, are eligible to make pre-tax Company is the trustee for all Plan assets except our common stock. of 25.0% from the offering price; an additional one-third vest upon an increase of 40.0% from the offering price; and the remaining one-third vest upon an increase of 50.0% from the offering price. and the diversion of corporate opportunities, the contracted executives agreements also contain a six-month non-competition agreement which restricts certain competitive acts on behalf of another bank or thrift located in Washington, Oregon, previously. Source: HomeStreet, Inc. on 04/15/2022 Sign up for Equilar ExecAtlas and view Mark K. Mason's full .