HomeStreet Profit Rises

(RTTNews) - Financial services provider HomeStreet Inc (HMST) on Friday reported second-quarter net earnings of $12.4 million or $0.56 per share compared with $9.4 million or $0.63 per share last year.

Excluding items, core earnings for the latest quarter were $0.65 per share.

Net interest income for the quarter was $38.2 million compared with $23.1 million a year ago.

Noninterest income was $73 million, up from $53.7 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.64 per share on revenues of $111.7 million for the quarter. Analysts' estimates typically exclude special items.

Net interest margin was 3.63% compared with 3.48% last year.

Noninterest expense for the quarter was $92.3 million compared with $63 million in the prior year.