Here are the 10-Q quarterly reports from Mechanics Bancorp (MCHB) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MCHB and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MCHB filings page.
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 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.