Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 66

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 66
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 income tax benefit recognized in the second and first quarters of 2025, respectively, primarily relate to the reversal of the disparate tax effects on our accumulated other comprehensive income ("AOCI") resulting from recording a valuation allowance for the deferred tax assets related to the AOCI in the fourth quarter of 2024.

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Net Interest Income: The following tables set forth, for the periods indicated, information regarding (i) the total dollar amount of interest income from interest-earning assets and the resultant average yields on those assets; (ii) the total dollar amount of interest expense and the average rate of interest on our interest-bearing liabilities; (iii) net interest income; (iv) net interest rate spread; and (v) net interest margin:

Quarter Ended  June 30, 2025March 31, 2025(dollars in thousands)AverageBalanceInterestAverageYield/CostAverageBalanceInterestAverageYield/CostAssets:Interest-earning assets:Loans (1)$6,035,713 $71,963 4.74 %$6,198,659 $73,587 4.76 %Investment securities (1)1,043,212 9,447 3.62 %1,055,336 9,509 3.60 %FHLB Stock, Fed Funds and other193,546 2,635 5.41 %242,687 3,691 6.20 %Total interest-earning assets7,272,471 84,045 4.60 %7,496,682 86,787 4.65 %Noninterest-earning assets 371,885 374,252 Total assets$7,644,356 $7,870,934 Liabilities and shareholders' equity:Interest-bearing deposits: (2)Demand deposits$318,120 $303 0.38 %$312,762 $287 0.37 %Money market and savings 1,610,297 6,881 1.70 %1,645,604 6,874 1.68 %Certificates of deposit2,716,464 27,330 4.04 %2,919,241 31,076 4.32 %Total 4,644,881 34,514 2.98 %4,877,607 38,237 3.18