Company: MCHB
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001518715-25-000110
Chunk: 81

Company: Mechanics Bancorp
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 81
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 financial metric that is not required by GAAP or other applicable requirements.

We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by providing additional information used by management that is not otherwise required by GAAP or other applicable requirements. Our management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate a comparison of our performance to prior periods. We believe these measures are frequently used by securities analysts, investors and other parties in the evaluation of companies in our industry. These non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, financial measures prepared in accordance with GAAP. In the information below, we have provided reconciliations of, where applicable, the most comparable GAAP financial measures to the non-GAAP measures used in this Form 10-Q, or a computation of the measure.

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Reconciliations of non-GAAP results of operations to the nearest comparable GAAP measures or the computation of the measure:

 For the Quarter EndedSix Months Ended June 30,(in thousands, except ratio, rate and share data)June 30, 2025March 31, 202520252024Core net income (loss)Net income (loss)$(4,412)$(4,465)$(8,877)$(13,735)Adjustments (tax effected)Merger related expenses (recoveries)1,362 1,599 2,961 3,925 Total$(3,050)$(2,866)$(5,916)$(9,810)Core net income (loss) per fully diluted shareFully diluted shares18,920,808 18,920,808 18,920,808 18,857,218 Computed amount$(0.16)$(0.15)$(0.31)$(0.52)Return on average tangible equity (annualized)Average shareholders' equity$403,629 $404,800 $404,211 $530,266 Less: Average intangibles(6,494)(6,976)(6,734)(9,099)Average tangible equity397,135 397,824 397,477 521,167 Net income (loss)$(4,412)$(4,465)$(8,