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HomeStreet Opening New Bank Branch In The “Center Of The Universe”

Stocks in this article: HMST

HomeStreet Bank, a subsidiary of HomeStreet, Inc. (NASDAQ:HMST), today announced the opening of a new retail bank branch in the Fremont neighborhood of Seattle, Wash. The branch will be located on the ground floor of the recently completed Saturn Building at 3417 Evanston Avenue North.

Located in the heart of the Fremont business district, the five-story building is a mix of retail and office. The branch’s adjacent neighbor is a new culinary shop, Wine Tea Chocolate, and the four upper stories will house up to 100 start-up and small businesses.

The Fremont neighborhood, self-proclaimed “Center of the Universe,” is home to the 18-foot Statue of Lenin, the Fremont Troll and several other public art pieces and historical relics that have found a home in the eclectic neighborhood. The area is a bastion of small businesses, boutiques, restaurants and high tech companies including Northwest offices of Adobe and Google. It draws a large crowd from Seattle and beyond for its annual events such as the Fremont Fair and Solstice Parade, Oktoberfest and its year-round Fremont Sunday Market.

“Our new retail branch will provide Fremont consumers and businesses with a local, community banking option, something that’s been strangely missing given how strongly residents feel about their community and about supporting local businesses,” said Paulette Lemon, senior vice president and retail banking manager. “It really is the perfect location for us given the vibrant neighborhood, the high number of people who live or work a short distance from the branch and the mix of small and medium-sized businesses in the immediate area.”

The Fremont branch is scheduled to open at the end of 2012.

HomeStreet Bank, a state-chartered, federally insured savings bank, offers consumer and business banking and investment and insurance products and services in Washington, Oregon, Idaho and Hawaii. HomeStreet Bank has consistently received an “outstanding” rating under the Community Reinvestment Act (CRA). Additional information on HomeStreet Bank can be found at www.homestreet.com.

Copyright Business Wire 2010

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