SOURCE: HomeStreet Bank

November 16, 2007 00:44 ET

HomeStreet Bank Contributes to Two Maui Organizations

KAHULUI, HI--(Marketwire - November 16, 2007) - HomeStreet Bank presented two checks today for $2,500 each to Habitat for Humanity Maui and the Maui Food Bank at a special gathering to bless the bank's new Maui home loan center, located at 285 West Ka'ahumanu Avenue in Kahului.

"HomeStreet has a deep commitment to community involvement," said Alan Sakuma, vice president and manager of HomeStreet Bank's Maui branch. "The occasion of the blessing of our new office presented a special opportunity to give to two important community organizations."

Habitat for Humanity Maui is a local affiliate of Habitat for Humanity International, a nonprofit housing organization that works in partnership with people in need to build and renovate decent, affordable housing. Volunteers provide most of the labor, and individual and corporate donors provide money and materials to build Habitat houses. Partner families themselves invest hundreds of hours of labor, or 'sweat equity,' into building their homes and the homes of others. Their mortgage payments go into a revolving Fund for Humanity that is used to build more houses.

Habitat for Humanity Maui was also a 2006 recipient of a HomeStreet Community Housing Award, an annual program supporting nonprofit organizations that work to meet housing-related needs in their communities.

The Maui Food Bank, which serves over 7,000 people a month, partners with a network of nonprofit organizations and agencies to distribute food to the hungry. The overall goal of the Maui Food Bank is to end hunger on Maui, working toward that goal by distributing food and advocating for improvements in government food programs and policies. A statewide network of supplies enables the Maui Food Bank to turn each dollar donated into $8 of food items. This year, the Maui Food Bank will distribute over one million pounds of food to the hungry.

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 with four branches in Hawaii, the company has assets of $2.73 billion and a network of 30 branch and mortgage offices. HomeStreet Bank is one of only two banks based in the Northwest and Hawaii that has consistently received an "outstanding" rating under the Community Reinvestment Act (CRA), a federal regulation that evaluates how effectively federally insured banks and thrifts meet the credit needs of their communities, including low- and moderate-income residents. Each year, HomeStreet contributes at least two percent of its pre-tax profits to organizations in its communities.

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