Leveraging Oracle Hyperion EPM Technology
to Support Ongoing Growth
By Erik Torseth, HomeStreet Bank, and Leo Gonzalez, Key
Published in OAUG Insight, Summer 2015
HomeStreet Bank has made strategic investments in the Oracle
Hyperion EPM solution in order support ongoing growth, including the ability to
forecast expansion plans and expected financial results for one- and three-year
plans; develop a new method of forecasting production, staffing and commissions;
and provide new and improved management reporting capabilities, including
drill-through to transactional detail.
The company has grown through organic growth as well as
several acquisitions. In 2013, the company acquired Fortune Bank and YNB
Financial Services Corporation and purchased two retail deposit branches and
related assets from AmercianWest Bank. Additionally, in 2015, HomeStreet Bank
merged with Simplicity Bancorp, Inc. and is now recognized as one of the
fastest growing financial services companies in the nation.
Due to the overwhelming growth, the company’s legacy
budgeting and forecasting system was extremely complicated.