UPDATE: HomeStreet Posts Higher Q2 Profit

HomeStreet

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.