SEATTLE (AP) _ HomeStreet Inc. (HMST) on Monday reported second-quarter net income of $18.9 million, after reporting a loss in the same period a year earlier.
The Seattle-based company said it had profit of 81 cents per share. Earnings, adjusted for non-recurring costs, came to 86 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The real estate lender posted revenue of $98.4 million in the period. Its adjusted revenue was $88.1 million, also topping Street forecasts. Five analysts surveyed by Zacks expected $76.8 million.
HomeStreet shares have declined 31% since the beginning of the year. In the final minutes of trading on Monday, shares hit $23.47, a fall of 17% in the last 12 months.