HomeStreet to Acquire Fortune Bank, Yakima National Bank

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HomeStreet Bank and its holding company, HomeStreet, Inc.
HMST
have entered into two separate merger agreements pursuant to which HomeStreet Bank will acquire Seattle-based Fortune Bank for approximately $27.0 million, and Yakima National Bank, based in Yakima, Wash., and parent holding company, YNB Financial Services Corp. (“Yakima National”), for approximately $10.3 million. The combined company had approximately $3.0 billion in assets on a pro forma basis as of June 30, 2013. The proposed transactions, which have been approved by the boards of directors of HomeStreet, Fortune and Yakima National, are subject to Fortune's and Yakima National's shareholders' approval and regulatory approval. The proposed transactions are expected to close in the fourth
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Posted In: NewsGuidanceContractsManagementM&AGlobal
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