RENTON, Wash. - The Seattle Seahawks and Seattle Sounders FC announced today an agreement in principle where as HomeStreet Bank is expected to become the official banking partner of both teams. The agreement in principle is subject to the finalization of a definitive agreement.
The sponsorship agreement is a multi-faceted business to business relationship that includes high profile branding exposure at CenturyLink Field, team television and radio programming, web-based and in-stadium digital media, database marketing, event hospitality and community outreach programs. Additionally, HomeStreet will be called upon to fulfill many of the commercial banking needs of the Seahawks, Sounders FC and related entities.
"HomeStreet Bank's impressive growth strategy, focus on community, and regional heritage makes us perfect partners," said Seahawks and Sounders FC president Peter McLoughlin.
A key element of the relationship will be a joint effort to launch a dynamic community outreach program that includes the participation of Seahawks and Sounders FC players, staff, fans, and HomeStreet's staff and customers that will focus on community and neighborhood improvement projects.
"We have been surprised and delighted by how much HomeStreet has in common with the Seahawks and Sounders FC," said Mark K. Mason, president and CEO of HomeStreet Bank. "Our local roots, commitment to community involvement and leadership, and desire to provide value to businesses and consumers in the Puget Sound region have put us on the same page from the very start. We're thrilled to sit at the same table and work hand-in-hand with them over the coming years."
About HomeStreet, Inc.
HomeStreet, Inc. (NASDAQ:HMST) is a diversified financial services company headquartered in Seattle, Washington, and the holding company for HomeStreet Bank, a state-chartered, FDIC-insured savings bank. HomeStreet Bank offers consumer and business banking, investment and insurance products and services in Washington, Oregon, Idaho, Hawaii and California. For more information visit http://ir.homestreet.com and www.homestreet.com.
Readers should note that this release contains forward-looking statements, primarily including statements about HomeStreet's anticipated relationship with the Seahawks and Sounders FC. The terms of that relationship remain subject to negotiation and to the parties' entry into a definitive agreement. That agreement ultimately may not be consummated, and if it is, HomeStreet may not realize the expected benefits from it. These and other forward looking statements in this release also should be read in conjunction with the risk factors set forth in HomeStreet's securities filings as made with the Securities and Exchange Commission. These risk factors are included in HomeStreet's Quarterly Report on Form 10-Q as of and for the nine month period ended September 30, 2012, available at http://www.sec.gov. Information contained in or linked from other websites, including those identified herein, are not a part of this release.