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 announced that its board approved a cash dividend for both classes of its stock. Holders of Class A common stock will receive $0.70 per share, and holders of Class B common stock will receive $7.00 per share.
The dividends are payable on May 28, 2026, to shareholders of record as of the close of business on May 23, 2026. Mechanics Bancorp, the financial holding company of Mechanics Bank, reported $21.4 billion in assets and 166 branches across four western states as of March 31, 2026.
Mechanics Bancorp announced that its board approved a cash dividend for both classes of its stock. Holders of Class A common stock will receive $0.70 per share, and holders of Class B common stock will receive $7.00 per share.
The dividends are payable on May 28, 2026, to shareholders of record as of the close of business on May 23, 2026. Mechanics Bancorp, the financial holding company of Mechanics Bank, reported $21.4 billion in assets and 166 branches across four western states as of March 31, 2026.
Mechanics Bancorp reported first-quarter 2026 results reflecting its post‑merger scale. Total assets were $21.39 billion and total deposits were $18.24 billion at March 31, 2026. Net income was $44.1 million, slightly above $43.8 million a year earlier, with net interest income rising to $179.0 million from $128.5 million.
Noninterest income increased to $21.0 million, helped by higher service charges, loan servicing and bank‑owned life insurance income, while noninterest expense rose to $130.4 million, including $4.8 million of acquisition and integration costs. Loans totaled $13.85 billion and the allowance for credit losses on loans increased to $156.8 million. Cash and cash equivalents declined to $483.5 million, driven by a $939.7 million net use of cash in financing activities, mainly an approximately $782.1 million decrease in deposits and redemption of $65 million of Senior Notes.
The 2025 merger with HomeStreet Bank was accounted for as a reverse acquisition, with Mechanics Bank as the accounting acquirer. A preliminary bargain purchase gain of $145.5 million was recorded, and fair value estimates for acquired assets and liabilities remain subject to adjustment within the one‑year measurement period. After quarter‑end, Mechanics Bank completed the previously announced sale of its Fannie Mae Multifamily DUS business line to Fifth Third for approximately $126 million in cash.
Mechanics Bancorp reported first-quarter 2026 results reflecting its post‑merger scale. Total assets were $21.39 billion and total deposits were $18.24 billion at March 31, 2026. Net income was $44.1 million, slightly above $43.8 million a year earlier, with net interest income rising to $179.0 million from $128.5 million.
Noninterest income increased to $21.0 million, helped by higher service charges, loan servicing and bank‑owned life insurance income, while noninterest expense rose to $130.4 million, including $4.8 million of acquisition and integration costs. Loans totaled $13.85 billion and the allowance for credit losses on loans increased to $156.8 million. Cash and cash equivalents declined to $483.5 million, driven by a $939.7 million net use of cash in financing activities, mainly an approximately $782.1 million decrease in deposits and redemption of $65 million of Senior Notes.
The 2025 merger with HomeStreet Bank was accounted for as a reverse acquisition, with Mechanics Bank as the accounting acquirer. A preliminary bargain purchase gain of $145.5 million was recorded, and fair value estimates for acquired assets and liabilities remain subject to adjustment within the one‑year measurement period. After quarter‑end, Mechanics Bank completed the previously announced sale of its Fannie Mae Multifamily DUS business line to Fifth Third for approximately $126 million in cash.
Mechanics Bancorp reported that its wholly owned subsidiary, Mechanics Bank, has completed the previously announced sale of its Fannie Mae Delegated Underwriting and Servicing business line to Fifth Third Bank, National Association. The transaction closed for aggregate cash consideration of approximately $126 million.
This move shifts Mechanics Bancorp’s business mix by exiting this specific Fannie Mae underwriting and servicing activity while adding a substantial cash inflow at the bank subsidiary level.
Mechanics Bancorp reported that its wholly owned subsidiary, Mechanics Bank, has completed the previously announced sale of its Fannie Mae Delegated Underwriting and Servicing business line to Fifth Third Bank, National Association. The transaction closed for aggregate cash consideration of approximately $126 million.
This move shifts Mechanics Bancorp’s business mix by exiting this specific Fannie Mae underwriting and servicing activity while adding a substantial cash inflow at the bank subsidiary level.
Mechanics Bancorp reported first quarter 2026 net income of $44.1 million, or $0.19 per diluted Class A share. This was down from $111.2 million, or $0.48, in the fourth quarter of 2025, which benefited from a $55.1 million bargain purchase gain related to the HomeStreet merger.
Total assets were $21.4 billion with loans of $13.9 billion and deposits of $18.2 billion at March 31, 2026. Net interest margin improved to 3.61% from 3.50% as the total cost of deposits fell to 1.28%. Earnings were weighed by $6.5 million of provision tied to geopolitical uncertainty, $4.8 million of merger expenses and a $1.7 million deferred tax asset remeasurement. Capital remained strong with a 13.91% CET1 ratio and 8.66% Tier 1 leverage ratio, while credit quality indicators, including a 0.25% nonperforming assets-to-total assets ratio, stayed conservative.
Mechanics Bancorp reported first quarter 2026 net income of $44.1 million, or $0.19 per diluted Class A share. This was down from $111.2 million, or $0.48, in the fourth quarter of 2025, which benefited from a $55.1 million bargain purchase gain related to the HomeStreet merger.
Total assets were $21.4 billion with loans of $13.9 billion and deposits of $18.2 billion at March 31, 2026. Net interest margin improved to 3.61% from 3.50% as the total cost of deposits fell to 1.28%. Earnings were weighed by $6.5 million of provision tied to geopolitical uncertainty, $4.8 million of merger expenses and a $1.7 million deferred tax asset remeasurement. Capital remained strong with a 13.91% CET1 ratio and 8.66% Tier 1 leverage ratio, while credit quality indicators, including a 0.25% nonperforming assets-to-total assets ratio, stayed conservative.
Mechanics Bancorp is asking shareholders to vote at its 2026 annual meeting on three items: electing eight directors for one-year terms, approving on an advisory basis executive compensation, and ratifying Crowe LLP as independent auditor for 2026.
The proxy details the 2025 merger in which HomeStreet Bank combined with Mechanics Bank, leaving Mechanics Bank as the main operating subsidiary and legacy Mechanics Bank holders owning most of the company’s equity and voting power. The Ford-affiliated entities now control a majority of votes, so Mechanics Bancorp qualifies as a Nasdaq “controlled company” and uses related governance exemptions.
The filing describes board structure, committee memberships, independence determinations, and codes of conduct, as well as 2025 compensation for current and former executives, including significant change‑in‑control severance for prior HomeStreet leaders and new long‑term incentive awards for current officers.
Mechanics Bancorp is asking shareholders to vote at its 2026 annual meeting on three items: electing eight directors for one-year terms, approving on an advisory basis executive compensation, and ratifying Crowe LLP as independent auditor for 2026.
The proxy details the 2025 merger in which HomeStreet Bank combined with Mechanics Bank, leaving Mechanics Bank as the main operating subsidiary and legacy Mechanics Bank holders owning most of the company’s equity and voting power. The Ford-affiliated entities now control a majority of votes, so Mechanics Bancorp qualifies as a Nasdaq “controlled company” and uses related governance exemptions.
The filing describes board structure, committee memberships, independence determinations, and codes of conduct, as well as 2025 compensation for current and former executives, including significant change‑in‑control severance for prior HomeStreet leaders and new long‑term incentive awards for current officers.
Mechanics Bancorp filed its annual report detailing a transformative reverse merger completed on September 2, 2025, in which HomeStreet Bank merged into Mechanics Bank, with Mechanics Bank as the accounting acquirer and Mechanics Bancorp as the legal acquirer. Financial statements before this date reflect legacy Mechanics Bank only, while 2025 results blend standalone Mechanics Bank with the post‑merger combined company. Share counts and earnings per share have been retrospectively restated to reflect the merger structure. The company now operates a 121‑year‑old community bank franchise with 166 branches across California, Washington, Oregon and Hawaii, and remains majority controlled by Ford Financial Funds, which hold approximately 77% of voting power.
Mechanics Bancorp filed its annual report detailing a transformative reverse merger completed on September 2, 2025, in which HomeStreet Bank merged into Mechanics Bank, with Mechanics Bank as the accounting acquirer and Mechanics Bancorp as the legal acquirer. Financial statements before this date reflect legacy Mechanics Bank only, while 2025 results blend standalone Mechanics Bank with the post‑merger combined company. Share counts and earnings per share have been retrospectively restated to reflect the merger structure. The company now operates a 121‑year‑old community bank franchise with 166 branches across California, Washington, Oregon and Hawaii, and remains majority controlled by Ford Financial Funds, which hold approximately 77% of voting power.
Mechanics Bancorp reported that EVP and Chief Credit Officer Scott A. Givans acquired 6,574 shares of Class A common stock through a grant of restricted stock units. These RSUs vest in three equal annual installments beginning on March 1, 2027, and require no cash payment when they vest.
After this award, Givans directly holds 38,137 shares of Mechanics Bancorp Class A common stock. The filing reflects routine equity-based compensation that increases his alignment with common shareholders over time as the RSUs vest.
Mechanics Bancorp reported that EVP and Chief Credit Officer Scott A. Givans acquired 6,574 shares of Class A common stock through a grant of restricted stock units. These RSUs vest in three equal annual installments beginning on March 1, 2027, and require no cash payment when they vest.
After this award, Givans directly holds 38,137 shares of Mechanics Bancorp Class A common stock. The filing reflects routine equity-based compensation that increases his alignment with common shareholders over time as the RSUs vest.
Mechanics Bancorp reported an insider equity award to its EVP & Chief Banking Officer, Kallingal Tony P. On March 1, 2026, he acquired 6,048 shares of Class A common stock through a grant of restricted stock units at no cost. These RSUs vest in three equal annual installments starting March 1, 2027, with each unit converting into one share on vesting. Following this award, his directly held Class A common stock totals 34,590 shares.
Mechanics Bancorp reported an insider equity award to its EVP & Chief Banking Officer, Kallingal Tony P. On March 1, 2026, he acquired 6,048 shares of Class A common stock through a grant of restricted stock units at no cost. These RSUs vest in three equal annual installments starting March 1, 2027, with each unit converting into one share on vesting. Following this award, his directly held Class A common stock totals 34,590 shares.
Mechanics Bancorp reported that EVP & Chief Accounting Officer Fernando Pelayo received a grant of 4,470 shares of Class A common stock on March 1, 2026, as a stock award. This increased his directly held stake to 17,532 shares.
The footnote explains that the award was granted as 4,470 Restricted Stock Units that vest in three equal annual installments beginning March 1, 2027. Each RSU converts into one share of Class A common stock at vesting without any purchase price.
Mechanics Bancorp reported that EVP & Chief Accounting Officer Fernando Pelayo received a grant of 4,470 shares of Class A common stock on March 1, 2026, as a stock award. This increased his directly held stake to 17,532 shares.
The footnote explains that the award was granted as 4,470 Restricted Stock Units that vest in three equal annual installments beginning March 1, 2027. Each RSU converts into one share of Class A common stock at vesting without any purchase price.
Mechanics Bancorp reported that EVP & Chief Compliance Counsel Kristie S. Shields received an equity award in the form of restricted stock units. On March 1, 2026, she was granted 4,207 RSUs, each representing a contingent right to receive one share of Class A common stock without paying any exercise price at vesting.
The RSUs vest in three equal annual installments beginning on March 1, 2027, which means the award is spread over three years to encourage longer-term retention. Following this grant, Shields holds 22,316 shares of Mechanics Bancorp Class A common stock in total.
Mechanics Bancorp reported that EVP & Chief Compliance Counsel Kristie S. Shields received an equity award in the form of restricted stock units. On March 1, 2026, she was granted 4,207 RSUs, each representing a contingent right to receive one share of Class A common stock without paying any exercise price at vesting.
The RSUs vest in three equal annual installments beginning on March 1, 2027, which means the award is spread over three years to encourage longer-term retention. Following this grant, Shields holds 22,316 shares of Mechanics Bancorp Class A common stock in total.