HomeStreet, Inc. (“the Company”) (NASDAQ:HMST) today announced that its wholly owned subsidiary, HomeStreet Bank, has completed its previously announced purchase of certain assets and liabilities, including two branches in Lake Oswego, Oregon, from Bank of Oswego.

The branches HomeStreet Bank has acquired are located in Lake Oswego, Oregon. As of July 31, 2016, loans and other assets totaled $41.5 million and deposits totaled $46.9 million in aggregate for both branches. The two Lake Oswego branches are now operating as HomeStreet Bank branches and increase the number of HomeStreet Bank’s retail branches to five in the Portland, Oregon, metro area, which includes Vancouver, Washington.

“We are happy to welcome the customers and employees of the Lake Oswego branches to HomeStreet,” said HomeStreet Bank Chairman, President and CEO Mark K. Mason. “We look forward to the growth opportunities from the acquisition as a result of the Portland-Vancouver area’s strong employment and population growth.”

HomeStreet did not assume any liability relating to any ongoing litigation involving any former officer or director of The Bank of Oswego in this transaction.