Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 112

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 112
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 period with the fair market value of the awards determined at the grant date based on the Company's stock price. PSUs vest at the end of a three year period with the fair market value of the awards determined using a Monte Carlo simulation technique. A summary of the status of the combined RSUs and PSUs is as follows: Number Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 230,986 $ 34.08 Granted 417,659 10.79 Cancelled or forfeited (86,505) 24.37 Vested (44,651) 34.93 Outstanding at December 31, 2024 517,489 $ 16.83 The assumptions used in the Monte Carlo simulations used to determine fair market value of the PSUs granted in 2024 and 2023 are set forth in the table below: 2024 2023 Volatility of common stock 58.1 % 42.7 % Average volatility of peer companies 33.6 % 45.0 % Average correlation coefficient of peer companies 0.7527 % 0.8029 % Risk-free interest rate 4.0 % 4.2 % Expected term in years 3 years 3 years 90

NOTE 18–PARENT COMPANY FINANCIAL STATEMENTS (UNAUDITED): Condensed financial information for HomeStreet, Inc. is as follows: Condensed Balance Sheets At December 31, (in thousands) 2024 2023 Assets: Cash and cash equivalents $ 22,855 $ 21,541 Other assets 5,433 4,515 Investment in stock of HomeStreet Bank 598,875 737,748 Investment in stock of other subsidiaries 1,857 1,857 Total assets $ 629,020 $ 765,661 Liabilities: Other liabilities $ 6,892 $ 2,508 Long-term debt 225,131 224,766 Total liabilities 232,023 227,274 Shareholders' Equity: Common stock, no par value 233,185 229,889 Retained earnings 251,013 395,357 Accumulated other comprehensive income (loss) (87,201) (86,859) Total shareholder's equity 396,997 538,387 Total liabilities and shareholders' equity $ 629,020 $ 765,661 Condensed Income Statements Years Ended December 31, (in thousands) 2024 2023 Noninterest income