Company research
Mechanics Bancorp
CIK 1518715Updated Sep 26, 2026
SecurityMCHB · NASDAQ · equity
Name history
HomeStreet, Inc. · through Aug 22, 2025
MCHB price & chart
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NASDAQ:MCHB on TradingView ↗About the company
Mechanics Bancorp (NASDAQ: MCHB) is headquartered in Walnut Creek, Calif., and is the financial holding company of Mechanics Bank, a full-service bank with $22.7 billion in assets and 166 branches across California, Oregon, Washington and Hawaii. Founded in 1905 to help families, businesses and communities prosper, Mechanics Bank offers a wide range of products and services in consumer and business banking, commercial lending, cash management services, private banking, and comprehensive wealth management and trust services. Learn more at www. MechanicsBank.com.
In the news
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Recent filings
Other Events
Items 8.01, 9.01
Other Events
Items 8.01, 9.01
10-Q filing
Results of Operations and Financial Condition · Regulation FD Disclosure
Items 2.02, 7.01, 9.01
11-K filing
Show 5 more recent filings
Submission of Matters to a Vote of Security Holders
Items 5.07
4 filing
Other Events
Items 8.01, 9.01
10-Q filing
Other Events
Items 8.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 22,351,475,000Source | 8,123,698,000Source | 9,392,450,000Source | 9,364,760,000Source |
| Property, Plant and Equipment, NetUSD | 143,895,000Source | 47,201,000Source | 53,582,000Source | 51,172,000Source |
| GoodwillUSD | 843,305,000Source | — | 0Source | — |
| Intangible Assets, Net (Excluding Goodwill)USD | 212,491,000Source | — | — | — |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 1,029,983,000Source | 406,600,000Source | 215,664,000Source | 72,828,000Source |
| Operating Lease, Right-of-Use AssetUSD | 82,076,000Source | 25,235,000Source | 27,594,000Source | 34,070,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 19,489,100,000Source | 7,726,701,000Source | 8,854,063,000Source | 8,802,613,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 2,402,193,000Source | 233,185,000Source | 229,889,000Source | 226,592,000Source |
| Retained Earnings (Accumulated Deficit)USD | 456,695,000Source | 251,013,000Source | 395,357,000Source | 435,085,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 3,487,000Source | -87,201,000Source | -86,859,000Source | -99,530,000Source |
| Stockholders' Equity Attributable to ParentUSD | 2,862,375,000Source | 396,997,000Source | 538,387,000Source | 562,147,000Source |
| Liabilities and EquityUSD | 22,351,475,000Source | 8,123,698,000Source | 9,392,450,000Source | 9,364,760,000Source |
| Additional Financial Items | ||||
| Long-term DebtUSD | 192,014,000Source | 225,131,000Source | 224,766,000Source | 224,404,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 5,592,000Source | 3,430,000Source | 3,613,000Source | 4,106,000Source |
| Deferred Income Tax Expense (Benefit)USD | 11,011,000Source | — | — | — |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 193,592,000Source | -45,921,000Source | 8,024,000Source | 218,328,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | 1,545,603,000Source | 1,333,520,000Source | 484,048,000Source | -2,654,148,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 6,513,000Source | 490,000Source | 3,811,000Source | 6,786,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | — | — | 0Source | 75,000,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -1,708,923,000Source | -1,096,663,000Source | -349,236,000Source | 2,443,434,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 48,561,000Source | 0Source | 12,317,000Source | 26,847,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 30,272,000Source | 190,936,000Source | 142,836,000Source | 7,614,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 1,029,983,000Source | 406,600,000Source | 215,664,000Source | 72,828,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 220,830,000Source | 298,498,000Source | 217,132,000Source | 66,364,000Source |
| Income Taxes Paid, NetUSD | 31,385,000Source | -637,000Source | -5,287,000Source | 5,201,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 5,600,000Source | 3,300,000Source | 3,100,000Source | 3,300,000Source |
| Amortization of Intangible AssetsUSD | 17,134,000Source | 2,500,000Source | 2,951,000Source | 963,000Source |
| Bank Owned Life Insurance IncomeUSD | 4,848,000Source | — | — | — |
| Debt Securities, Available-for-sale, Realized Gain (Loss)USD | 4,568,000Source | — | — | — |
| Debt Securities, Trading, Gain (Loss)USD | 144,000Source | -1,700,000Source | -500,000Source | -7,000,000Source |
| DepreciationUSD | 10,620,000Source | — | — | — |
| Depreciation, Amortization and Accretion, NetUSD | — | 6,580,000Source | 7,146,000Source | 9,707,000Source |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on DisposalUSD | — | — | — | 0Source |
| Equipment ExpenseUSD | 29,271,000Source | — | — | — |
| FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalUSD | 20,503,000Source | 677,000Source | -67,000Source | -4,995,000Source |
| Gain (Loss) on Sale of Financing ReceivableUSD | — | — | 0Source | 88,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | -100,000Source | — | — | — |
| Gain (Loss) on Sales of Loans, NetUSD | — | -88,618,000Source | — | — |
| Gain (Loss) on Termination of LeaseUSD | — | -1,064,000Source | — | — |
| Gain (Loss) on Extinguishment of DebtUSD | -835,000Source | -452,000Source | — | 0Source |
| General and Administrative ExpenseUSD | — | 37,199,000Source | 38,809,000Source | 35,377,000Source |
| GoodwillUSD | 843,305,000Source | — | 0Source | — |
| Goodwill, Impairment LossUSD | — | 0Source | 39,857,000Source | — |
| Impairment of Intangible Assets, Finite-livedUSD | 0Source | — | — | — |
| Income Tax Expense (Benefit)USD | 53,811,000Source | 23,832,000Source | -5,249,000Source | 18,120,000Source |
| Net Income (Loss) Attributable to ParentUSD | 265,739,000Source | -144,344,000Source | -27,508,000Source | 66,540,000Source |
| Other Interest and Dividend IncomeUSD | 60,099,000Source | 16,306,000Source | 8,873,000Source | 3,622,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | 0Source | 0Source |
| Proceeds from Issuance of Long-term DebtUSD | — | — | 0Source | 98,036,000Source |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | 415,666,000Source | — | — | — |
| Provision for Loan, Lease, and Other LossesUSD | — | 0Source | -441,000Source | — |
| Financing Receivable, Credit Loss, Expense (Reversal)USD | 20,503,000Source | — | -67,000Source | -4,995,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 49,728,000Source | — | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 319,550,000Source | -120,512,000Source | -32,757,000Source | 84,660,000Source |
| Income Tax Expense (Benefit)USD | 53,811,000Source | 23,832,000Source | -5,249,000Source | 18,120,000Source |
| Net Income (Loss) Attributable to ParentUSD | 265,739,000Source | -144,344,000Source | -27,508,000Source | 66,540,000Source |
| Earnings Per Share, BasicUSD per share | 1.27Source | -7.65Source | -1.46Source | 3.51Source |
| Earnings Per Share, DilutedUSD per share | 1.27Source | -7.65Source | -1.46Source | 3.49Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 208,626,916Source | 18,857,392Source | 18,783,005Source | 18,931,107Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 208,731,602Source | 18,857,392Source | 18,783,005Source | 19,041,111Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 17,134,000Source | 2,500,000Source | 2,951,000Source | 963,000Source |
| Bank Owned Life Insurance IncomeUSD | 4,848,000Source | — | — | — |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | — | — | 0.65Source | 1.4Source |
| Debt Securities, Trading, Gain (Loss)USD | 144,000Source | -1,700,000Source | -500,000Source | -7,000,000Source |
| Equipment ExpenseUSD | 29,271,000Source | — | — | — |
| FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversalUSD | 20,503,000Source | 677,000Source | -67,000Source | -4,995,000Source |
| General and Administrative ExpenseUSD | — | 37,199,000Source | 38,809,000Source | 35,377,000Source |
| Goodwill, Impairment LossUSD | — | 0Source | 39,857,000Source | — |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 319,600,000Source | — | — | — |
| Interest ExpenseUSD | — | — | 232,990,000Source | 70,981,000Source |
| InterestExpenseOperatingUSD | 226,046,000Source | 282,486,000Source | — | — |
| Interest Income (Expense), NetUSD | 585,718,000Source | 120,087,000Source | 166,753,000Source | 233,307,000Source |
| Labor and Related ExpenseUSD | 219,319,000Source | 107,424,000Source | 111,064,000Source | 115,533,000Source |
| Marketing and Advertising ExpenseUSD | 3,131,000Source | — | — | — |
| Other Interest and Dividend IncomeUSD | 60,099,000Source | 16,306,000Source | 8,873,000Source | 3,622,000Source |
Offerings
Registration 333-288528
Filing attachments
ef20060691_ex99-1.htm · 8-K · 2025-12-09
EX-99.1 3 ef20060691_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Mechanics Bank Agrees to Sell Fannie Mae Delegated Underwriting and Servicing Business Line to Fifth Third WALNUT CREEK, Calif., Dec. 9, 2025 - Mechanics Bancorp (“Mechanics”) (NASDAQ: MCHB) announced today that its subsidiary Mechanics Bank has entered into a definitive agreement to sell its Fannie Mae Delegated Underwriting and Servicing (“DUS”) business line (“DUS Business”) to Fifth Third Bancorp (“Fifth Third”) (NASDAQ: FITB) i…
Read attachment ↗ef20053929_ex99-1.htm · 8-K/A · 2025-09-25
EX-99.1 3 ef20053929_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 MECHANICS BANK Consolidated Financial Statements for the years ended December 31, 2024, December 31, 2023 and December 31, 2022 Page ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Report of Independent Registered Accounting Firm 2 Consolidated Balance Sheets …
Read attachment ↗ef20053929_ex99-2.htm · 8-K/A · 2025-09-25
EX-99.2 4 ef20053929_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 MECHANICS BANK Consolidated Financial Statements for the six months ended June 30, 2025 and 2024 Page Consolidated Balance Sheets as of June 30, 2025 and December 31, 2024 (Unaudited) 1 ─────────────────────────────────────────────────────────────────────────────────────────────── Consolidated Income Statements (Unaudited) 2 Consolidated Statements of Comprehensive…
Read attachment ↗ef20054890_ex99-1.htm · 8-K · 2025-09-02
EX-99.1 9 ef20054890_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Mechanics Bank Completes Strategic Merger with HomeStreet, Inc. The transaction creates the premier West Coast community bank WALNUT CREEK, Calif., Sept. 2, 2025 - Mechanics Bancorp (NASDAQ: MCHB), the holding company of Mechanics Bank, today announced the completion of the previously announced strategic merger (the “Merger”) between Mechanics Bank and HomeStreet Bank (“HomeStreet”). The transaction significantly expands the West …
Read attachment ↗ef20054890_ex99-2.htm · 8-K · 2025-09-02
EX-99.2 10 ef20054890_ex99-2.htm EXHIBIT 99.2 Exhibit 99.2 RISK FACTORS On September 2, 2025, Mechanics Bancorp (formerly known as HomeStreet, Inc.), a Washington corporation (“Mechanics” or the “Company,”), consummated the previously announced merger (the “Merger”) pursuant to the terms of the Agreement and Plan of Merger, dated as of March 28, 2025 (the “Merger Agreement”), by and among the Company, HomeStreet Bank, a Washington state-charted commercial bank and a wholly owned subsidiary…
Read attachment ↗