On August 3, 2023, Blue Lion Capital announced that it has issued a letter to HomeStreet, Inc shareholders regarding the Bloomberg News article dated August 1, 2023, that HomeStreet Bank is exploring options including a sale. Blue Lion added that it believes that the Company should immediately proceed with a sale of its FNMA DUS license which could generate $100 - $150 million and use the proceeds from the sale to re-position its balance sheet and remove the concerns regarding the viability of the bank. Blue Lion Capital encouraged all shareholders to contact Mark Patterson, the Company's lead independent director and express support for this strategy.