Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 690

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 690
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The Board of Directors

HomeStreet, Inc.

601 Union Street, Suite 2000

Seattle, WA 98101

Members of the Board:

You have requested the opinion of Keefe, Bruyette & Woods, Inc. (“KBW”, “we”, “us” or “our”) as investment bankers as to the fairness, from a financial point of view, to HomeStreet, Inc. (“HomeStreet”) of the Merger Consideration (as defined below) in the proposed merger of HomeStreet Bank (“HomeStreet Bank”), a direct and wholly-owned subsidiary of HomeStreet, with and into Mechanics Bank (“Mechanics Bank”), with Mechanics Bank as the surviving entity (the “Transaction”), pursuant to the Agreement and Plan of Merger (the “Agreement”) to be entered into by and among HomeStreet, HomeStreet Bank and Mechanics Bank. Pursuant to the Agreement and subject to the terms, conditions and limitations set forth therein, each share of common stock, par value $50 per share, of Mechanics Bank designated as Voting Common Stock (the “Voting Common Stock”) and each share of the common stock, par value $50 per share, of Mechanics Bank designated as Non-Voting Common Stock (the “Non-Voting Common Stock”) issued and outstanding immediately prior to the Effective Time (the Voting Common Stock and the Non-Voting Common Stock, collectively, the “Mechanics Bank Common Stock”) (other than Excluded Shares (as defined in the Agreement)) shall be converted into the right to receive (A) in the case of Voting Common Stock, 3,301.0920 shares (the “Voting Exchange Ratio” and such shares collectively, the “Voting Merger Consideration”) of the class A common stock, no par value, of HomeStreet (the “Class A HomeStreet Common Stock”), and (B) in the case of the Non-Voting Common Stock, 330.1092 shares (the “Non-Voting Exchange Ratio,” and such shares collectively with the Voting Merger Consideration, the “Merger Consideration”) of the class B common stock, no par value, of HomeStreet (the “Class B HomeStreet Common Stock,” and together with the Class A HomeStreet Common Stock, the “HomeStreet Common Stock”). The terms and conditions of the Transaction are more fully set forth in the Agreement. Following the transactions, HomeStreet will be renamed Mechanics Bancorp.

KBW has acted as financial advisor to HomeStreet and not as an advisor to