BUZZ-HomeStreet jumps on merger deal with Mechanics Bank

Reuters

Mar 31

BUZZ-<a href="https://laohu8.com/S/HMST">HomeStreet</a> jumps on merger deal with Mechanics Bank

** Regional lender HomeStreet's HMST.O shares jump 10.1% to $10.24 in premarket trading

** Larger rival Mechanics Bank agrees to acquire HMST in a $300 million all-stock deal, the companies say

** HomeStreet will issue shareholders of privately-held Mechanics 212.5 million shares

** Upon deal close, HMST will be renamed Mechanics Bancorp and remain a publicly traded company

** Deal, expected to close in Q3 2025, will boost Mechanics' market presence with a full West Coast footprint from San Diego to Seattle

** HMST had last year agreed to merge with smaller rival FirstSun Capital Bancorp FSUN.O, but U.S. banking regulators did not sign off on the deal

** J.P. Morgan advised Mechanics while Keefe, Bruyette & Woods advised HMST

** As of last close, HMST stock has lost 78.9% of its value since IPO in 2012

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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Morgan advised Mechanics while Keefe, Bruyette &amp; Woods advised HMST </p><p>** As of last close, HMST stock has lost 78.9% of its value since IPO in 2012</p><p>(Reporting by Arasu Kannagi Basil in Bengaluru)</p><p>((ArasuKannagi.Basil@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投资银行业与经纪业","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250331:nL6N3QE0GQ:1","article_id":"2523929944","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2523929944","pubTimestamp":1743426579,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-HomeStreet jumps on merger deal with Mechanics Bank** Regional lender HomeStreet's HMST.O shares jump 10.1% to $10.24 in premarket trading** Larger rival Mechanics Bank agrees to acquire HMST in a $300 million all-stock deal, the companies say. ** HomeStreet will issue shareholders of privately-held Mechanics 212.5 million shares. ** Upon deal close, HMST will be renamed Mechanics Bancorp and remain a publicly traded company**  Deal, expected to close in Q3 2025, will boost Mechanics' market presence with a full West Coast footprint from San Diego to Seattle  ** HMST had last year agreed to merge with smaller rival FirstSun Capital Bancorp FSUN.O, but U.S. banking regulators did not sign off on the deal** J.P. 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Morgan advised Mechanics while Keefe, Bruyette & Woods advised HMST ** As of last close, HMST stock has lost 78.9% of its value since IPO in 2012(Reporting by Arasu Kannagi Basil in Bengaluru)((ArasuKannagi.Basil@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,corporation,merge","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}