HomeStreet buys two small banks
HomeStreet Bank has agreed to acquire Seattle-based Fortune Bank and Yakima National Bank.
By Seattle Times staff
HomeStreet Bank of Seattle has agreed to acquire two small banks for approximately $37 million, adding six branches and about $260 million in assets.
HomeStreet said the deals to acquire Seattle-based Fortune Bank and YNB Financial Services, the parent of Yakima National Bank, are expected to close in the fourth quarter.
Fortune Bank operates two branches in Seattle and Bellevue, but “those customer relationships will transition to existing HomeStreet branches” once the acquistion is complete, the bank said in a prepared statement.
The deals bring HomeStreet’s network of retail deposit branches to 29.