Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 337

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 337
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 an audit in accordance with GAAS, we:

| • | Exercise professional judgment and maintain professional skepticism throughout the audit. |

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| • | Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. |

| • | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. |

| • | Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the consolidated financial statements. |

| • | Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Mechanics Bank’s ability to continue as a going concern for a reasonable period of time. |

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.

| /s/ Crowe LLP |

Sacramento, California March 20, 2025, except for Note 23 — EARNINGS PER SHARE for which the date is July 3, 2025

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MECHANICS BANK CONSOLIDATED BALANCE SHEETS AS OF DECEMBER 31, 2024 AND 2023

| (in thousands, except shares)                                                                                                        |     | December 31, 2024 |     | December 31, 2023 |
|:-------------------------------------------------------------------------------------------------------------------------------------|:----|------------------:|:----|------------------:|
| ASSETS                                                                                                                               |     |                   |     |                   |
| Cash and cash equivalents                                                                                                            |     |          $999,711 |     |        $1,457,569 |
| Securities available-for-sale, at fair value                                                                                         |     |         3,065,251 |     |         2,343,173 |
| Securities held-to-maturity, at amortized cost (fair value of $1,196,000 and $1,309,249 at December 31, 2024 and 2023, respectively) |     |         1,440,494 |     |         1,542,