Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 38

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 38
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5.6 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 2.8 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 6.4 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Added a weighted average 3.0 years to the life of loans, which reduced the monthly payment amounts to the borrowers.Upon determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

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The following table depicts the payment status of loans that were classified as MBFDs on or after April 1, 2024 through March 31, 2025:Payment Status (Amortized Cost Basis) at June 30, 2025(in thousands)Current30-89 Days Past Due90+ Days Past DueNon-owner occupied CRE$18,447 $— $— Multifamily— — 1,915 Construction/land development— — 3,771 Owner occupied CRE254 — — Commercial business2,852 — 4,362 Single family2,585 176 418 Total$24,138 $176 $10,466 The following table depicts the payment status of loans that were classified as MBFDs on or after April 1, 2023 through March 31, 2024:Payment Status (Amortized Cost Basis) at June 30, 2024(in thousands)Current30-89 Days Past Due90+ Days Past DueNon-owner occupied CRE$— $— $16,230 Construction/land development— — 3,821 Commercial business1,597 2,708 4,420 Single family1,155 833 1,417 Total$2,752 $3,541 $25,888 The following table provides the amortized cost basis as of June 30, 2025 of MBFDs on or after April 1, 2024 through March 31, 2025 and subsequently had a payment default: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Quarter Ended June