UPDATE: HomeStreet Posts Higher Q2 Profit
HomeStreet (NASDAQ: HMST) reported a rise in its second-quarter profit.
HomeStreet's quarterly net income surged to $18 million, or $2.43 per share, versus $1.3 million, or $0.45 per share, in the year-ago period.
Its provision for loan losses declined to $2 million, versus $2.3 million. However, net interest income jumped 23% to $14.7 million.
HomeStreet shares closed at $36.00 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.