HomeStreet Bank Announces 2008 HomeStreet Community Housing Awards Winners

SEATTLE, WA -- (MARKET WIRE) -- 05/27/08 -- For the fifth year, HomeStreet Bank is pleased to announce the seven recipients of the HomeStreet Community Housing Awards. The program supports nonprofit organizations that work to meet housing-related needs in Washington, Oregon and Hawaii. This includes organizations that provide transitional housing or affordable rental housing, or help people move along the path toward homeownership. Each of the recipients will receive $10,000 to support housing programs for people with low to moderate incomes.

"Affordable housing options for those of low and moderate income is one of the most pressing issues in our communities," said Kathryn Williams, community relations director for HomeStreet Bank. "The HomeStreet Community Housing Awards are a way in which we can support those organizations that exemplify excellence in providing housing and homeownership opportunities for those who need it the most."

The HomeStreet Community Housing Award recipients are:

Puget Sound Region

-- Operation Nightwatch: Operation Nightwatch responds to the emergency needs of poor and homeless people late at night in downtown Seattle. The organization also provides permanent apartments for seniors, to which the award will be applied. The grant will help cover the cost of providing housing for very low-income seniors. -- Seattle Central Community College Foundation (SCCCF): The SCCCF partners with Casey Family Programs to support the College Success Program. The program focuses on reducing the barriers to education that confront youth who were formerly in foster care but, at age 18 years, are no longer eligible for state support. One of the primary issues for these youth is housing. The award will be used to support the placement and subsidization of students in permanent housing for the 2008 school year. -- Senior Services of Snohomish County: Senior Services provides a range of services in Snohomish County including housing, nutrition, transportation and social services. This award will support the Minor Home Repair program, which assists hundreds of seniors with repairs that increase their health and safety while allowing them to live independently in their own homes. -- The Tronie Foundation: The Tronie Foundation in Olympia works with victims of human trafficking by providing safe housing and equipping them with skills for a positive future. The award will support Nell's House, one of the first shelters in the U.S. to focus on victims of international human trafficking. Nell's House provides safety and security, basic needs such as food and clothing, social support, and access to services to help move survivors to healing and hope.

Oregon and Southwest Washington

-- Portland Community Land Trust: Portland Community Land Trust (PCLT) provides opportunities for homeownership to people of low and moderate income through the creation of affordable housing and the stewardship of land. A land trust keeps down the cost of a home by permanently restricting the resale price formula, while still allowing a homeowner to make a fair return on their investment. The award will be used to fund staff to support PCLT's outreach initiatives and homeowner support. -- Willamette West Habitat for Humanity: Habitat for Humanity provides decent, affordable homes for low-income families. The Willamette West affiliate will apply this award to the renovation of an existing home which is being purchased for a new Habitat family. The house needs new floors, paint, appliances, fixtures and minor landscaping.

Hawaii

-- Hale Mahaolu Akahi, Inc.: Hale Mahaolu develops and manages affordable rental housing in Maui County, in addition to providing support services for their residents. The award will be used to upgrade and renovate their 40-year-old rental units to make them safe and accessible for seniors.

Founded in 1921, family- and employee-owned HomeStreet Bank is one of the largest privately-owned banks in the Northwest and Hawaii. Headquartered in Seattle, the company has assets of $2.9 billion and a network of 30 branch and mortgage offices. HomeStreet Bank is one of the only banks in the country that has consistently received an "outstanding" rating under the Community Reinvestment Act (CRA). Each year, HomeStreet contributes at least two percent of its pre-tax profits to organizations in its communities.

HomeStreet Bank has two key areas of corporate support: housing and homes, and parks and open spaces. HomeStreet also works in partnership with community organizations to help individuals and families achieve the security of a home and move along the path toward homeownership. In addition, HomeStreet offers a variety of innovative products and services that help individuals and organizations meet specific community housing needs. More information including a list of past winners can be found at www.homestreet.com/community.

Contact: Monica Roland (206) 587-5006 monica.roland@homestreet.com

2008-05-27 18:26:01 0371119 MARKETWIRE