Mechanics Bancorp filings document the regulatory record of a bank holding company whose primary operating subsidiary is Mechanics Bank. The disclosures cover operating and financial results, material-event reports, capital-structure matters, and corporate actions involving banking business lines, including the completed sale of the Fannie Mae Delegated Underwriting and Servicing business line.
Its SEC filings also include proxy materials addressing board governance, executive compensation and shareholder voting matters. Form 8-K disclosures record cash dividends on Class A and Class B common stock, amendments to bylaws, book-entry share provisions, and other events affecting the company’s governance and securities structure.
Mechanics Bancorp (MCHB) reported third-quarter 2026 net income of $46.0 million, or $0.20 per diluted share, versus $57.7 million and $0.25 in the second quarter. Net interest income was $174.9 million and net interest margin was 3.55%, compared with $177.2 million and 3.62% in Q2. For the first nine months, net interest income rose to $531.1 million from $402.7 million, while net income was $147.8 million versus $154.6 million.
Mechanics Bank completed the sale of $417 million in performing indirect auto loans, recording a $10.3 million loss, and restructured $308 million of securities, recording a $32.3 million loss. At September 30, total loans were $13.0 billion, deposits were $18.0 billion, delinquent loans were $67.5 million versus $95.4 million at June 30, and the preliminary CET1 ratio was 14.73%.
Class A shareholders received a $0.25 per-share dividend in Q3. Management expects a ~$100 million Q4 dividend, or ~$0.43 per Class A share, subject to Board and regulatory approval.
Mechanics Bancorp (MCHB) reported that its wholly owned subsidiary, Mechanics Bank, has completed the sale to Bank of America’s trading desk of approximately $417 million of its remaining performing indirect auto loans at a price near book value, using a cutoff date of August 31, 2026.
After this transaction, Mechanics Bank will retain about $13 million of runoff auto loans, while Westlake Portfolio Management will continue servicing the auto loans for both Bank of America and Mechanics Bank. President and CEO C.J. Johnson stated that selling the substantial majority of the runoff auto loan portfolio is intended to reduce risk, improve liquidity and enhance future profitability.
Mechanics Bancorp is the financial holding company of Mechanics Bank, a full-service FDIC‑insured bank with $21.2 billion in assets as of June 30, 2026 and 166 branches across California, Oregon, Washington and Hawaii.
Mechanics Bancorp (MCHB) reported that its Board of Directors declared a cash dividend of $0.25 per share on Class A common stock and $2.50 per share on Class B common stock. The dividend is payable on September 1, 2026 to shareholders of record as of the close of business on August 29, 2026.
Mechanics Bancorp, the financial holding company for Mechanics Bank, is headquartered in Walnut Creek, California. Mechanics Bank is an FDIC-insured, full-service bank with $21.2 billion in assets as of June 30, 2026 and 166 branches across California, Oregon, Washington and Hawaii.
Mechanics Bancorp reported quarterly results for the period ended June 30, 2026, reflecting the combined company after the September 2, 2025 merger in which HomeStreet Bank merged into Mechanics Bank, accounted for as a reverse acquisition. Share counts and per-share data have been retrospectively restated to the Mechanics Bancorp Class A and Class B structure.
Total assets were $21,230,839 thousand, down from $22,351,475 thousand at December 31, 2025, with net loan receivables of $13,423,595 thousand and securities available-for-sale of $4,119,215 thousand. Deposits totaled $18,089,437 thousand. Quarterly net interest income was $177,172 thousand, and net income was $57,701 thousand, or $0.25 basic and diluted earnings per share for Class A stock and $2.51 for Class B.
Results incorporate merger-related purchase accounting, including a preliminary $145,460 thousand bargain purchase gain and identifiable intangibles such as a DUS® license and core deposit intangibles. On May 1, 2026, Mechanics Bank sold its Fannie Mae DUS multifamily business line to Fifth Third for aggregate cash consideration of $125,820 thousand, recognizing a $911 thousand net gain and derecognizing a $100,200 thousand DUS license and business line intangible. The allowance for credit losses on loans was $152,601 thousand, with nonaccrual loans of $48,557 thousand and continued concentration in California multifamily and residential real estate.
Mechanics Bancorp reported solid results for the quarter ended June 30, 2026, with net income of $57.7 million, or $0.25 per diluted Class A share, up from $44.1 million in the prior quarter. Return on average assets was 1.09% and return on average tangible equity was 14.42%.
Net interest income was $177.2 million as net interest margin inched up to 3.62%, while the total cost of deposits declined to 1.25%. A net $2.8 million reversal of credit loss provisions and higher noninterest income, including gains tied to the sale of the Fannie Mae DUS business line and a mortgage servicing rights valuation adjustment, supported earnings. Noninterest expense fell to $124.5 million despite $5.9 million of merger-related costs as HomeStreet integration progressed.
Total assets were $21.2 billion with total loans of $13.6 billion and deposits of $18.1 billion, reflecting runoff of $199.2 million of higher-cost certificates of deposit and modest core deposit growth. Capital remained strong, with an estimated 14.39% Common Equity Tier 1 ratio, 16.70% total risk-based capital ratio and 8.71% Tier 1 leverage ratio. Asset quality metrics stayed conservative: the allowance for credit losses was 1.12% of loans and nonperforming assets were 0.28% of total assets, though delinquent loans rose to 0.70% of loans, partly from two maturing commercial real estate relationships.
Mechanics Bancorp director Edward Michael Downer reported a very small indirect sale of 2 shares of Class A Common Stock at $15.13 per share on June 15, 2026. The E M Downer Dynasty Trust still holds 1,121,268 shares after this trade, and several other direct and indirect holdings were reported without new transactions.
Mechanics Bancorp reported the results of its 2026 Annual Meeting of Shareholders held on May 28, 2026. As of the April 1, 2026 record date, there were 220,286,142 Class A shares and 1,114,448 Class B shares outstanding.
Shareholders elected eight director nominees, each by a majority of votes cast, for one-year terms ending at the 2027 Annual Meeting. They also approved, on an advisory and non-binding basis, the compensation of named executive officers and ratified Crowe LLP as independent registered public accounting firm for the year ending December 31, 2026.
Pellegrino Nancy D reported acquisition or exercise transactions in this Form 4 filing.
Mechanics Bancorp director Nancy D. Pellegrino received a grant of 5,513 Restricted Stock Units (RSUs) on May 28, 2026. Each RSU represents a contingent right to receive one share of Class A common stock and requires no payment when it vests on May 28, 2027.
Following the reported transactions, she holds 16,223 shares of Class A common stock directly, including 1,000 shares held jointly with her spouse. The RSU grant is a stock-based compensation award, not an open-market share purchase or sale.
Mechanics Bancorp director Russell Kenneth D received a grant of 5,513 Restricted Stock Units (RSUs) on May 28, 2026. Each RSU represents a right to receive one share of Class A common stock without paying any exercise price. These RSUs vest on May 28, 2027, at which time he will receive an equal number of shares. Following this grant, he holds 5,513 RSUs directly.
Mechanics Bancorp director Patricia Cochran reported equity compensation activity rather than open-market trading. She received a grant of 5,513 Restricted Stock Units (RSUs) on May 28, 2026, which vest on May 28, 2027, each RSU representing one share of Class A common stock.
On May 27, 2026, 3,301 previously granted RSUs vested and were converted into 3,301 shares of Class A common stock, increasing her direct common stock holdings to 13,204 shares. She also holds 2,554 deferred incentive units, each economically equivalent to one share, with payment deferred until retirement, termination, or a change in control.