Shareholders Of Fortune Bank, Yakima Approve Merger With HomeStreet

(RTTNews) - HomeStreet, Inc. (HMST), the holding company for HomeStreet Bank., Friday said it has received approval from the shareholders of Fortune Bank, a Washington state-chartered bank, and YNB Financial Services Corp., for an agreement, pursuant to which HomeStreet Bank will acquire the two financial institutions.

More than 86 percent of Fortune's shareholders, and about 91 percent of Yakima's shareholders approved the acquisition at separate meetings held on September 25. The proposed transactions are currently expected to close in the fourth quarter, pending regulatory approvals.

The acquisition of the two banks, along with the pending acquisition of two retail deposit branches from AmericanWest Bank, will increase the net number of HomeStreet retail deposit branches to 29.