HomeStreet Bank Completes Acquisition of Three Branches in Southern California; Stinson Serves as Legal Counsel

02.15.2023

U.S. Bancorp and MUFG Union Bank recently closed on their definitive agreement to sell three MUFG Union Bank branches in San Bernardino County, California to HomeStreet Bank. Stinson LLP served as legal counsel to HomeStreet Bank. As part of the transaction, HomeStreet assumed approximately $400 million in deposits and purchased $22 million in loans, extending HomeStreet's number of branches in Southern California to 20.

HomeStreet Bank is headquartered in Seattle, Washington and serves consumers and businesses in the western United States and Hawaii. U.S. Bancorp is based in Minneapolis, Minnesota and serves millions of customers on a local and global scale. MUFG Union Bank, currently a wholly-owned subsidiary bank of U.S. Bancorp, is based in San Francisco, California and consists primarily of retail banking branches in the West Coast states.

Attorneys Adam Maier and Evan Murlette served as legal counsel in this matter.