HomeStreet in Seattle Looking for New CFO

By Rachel Witkowski March 15, 2012, 4:58 p.m. EDT 1 Min Read

HomeStreet Inc.'s chief financial officer is resigning at the end of the month after helping the once-battered Seattle banking company recapitalize.

David Hooston, who also serves as an executive vice president, is stepping down March 31, the company said in a press release Wednesday.

Hooston was among the new management team that joined HomeStreet in late 2009 to help rescue the company from its real estate and capital problems. In February, HomeStreet went public, raising $96 million while completing the first recapitalization-via-IPO in recent memory.

"With [Hooston's] help, the company experienced three consecutive quarters of profitability before completing our IPO," Mark Mason, HomeStreet's president and chief executive, said in the release. "We are grateful for his contributions and his dedication to the company's success."

The company is searching for a new chief financial officer. Hooston has agreed to help in transition his replacement.

Rachel Witkowski

Tech reporter, Financial Planning

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