HomeStreet in Wash. Hires CFO After 26 Months Without One

By Tanaya Macheel June 09, 2015, 4:41 p.m. EDT 1 Min Read

Community banking

HomeStreet in Seattle Looking for New CFO

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

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Three years ago, the Seattle bank was struggling mightily with bad loans and diminishing capital. A recently completed IPO put $96 million back into the bank, putting it on the path to recovery.

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HomeStreet in Seattle has hired Melba Bartels as chief financial officer, filling a position that has been vacant since March 2012.

The $4.6 billion-asset HomeStreet's previous CFO, David Hooston, left in 2012 shortly after the company went public. At the time HomeStreet Chief Executive Mark Mason decided to divide the CFO position between the positions of chief accounting officer and chief investment officer, a spokeswoman said.

Cory Stewart, HomeStreet's chief accounting officer, had been designated as HomeStreet's principal financial officer and principal accounting officer. Bartels will replace Stewart in those two roles. Stewart will leave the company on June 19 to pursue other opportunities, the spokeswoman said.

Bartels will become CFO effective Aug. 3. She previously worked as the CFO of auto and student lending at JPMorgan Chase. She also previously worked for Washington Mutual.

Tanaya Macheel

Reporter