Company: MCHB
Filing Date: 2025-07-03
Form Type: S-4
Source: 0001140361-25-024872
Chunk: 148

Company: Mechanics Bancorp
Filing Date: 2025-07-03
Form: S-4
Chunk 148
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 full-service community bank. As of March 31, 2025, Mechanics had total assets of $16.5 billion, total loans of $9.4 billion and total deposits of $14.0 billion. In addition to its main office, Mechanics operates 112 branch locations through California, including locations in Greater San Francisco, Sacramento, Los Angeles and San Diego areas and throughout the Central Valley in California as of March 31, 2025.

Mechanics operates under a California state banking charter issued by the CDFPI, its primary state regulator. Mechanics is a member of the FHLB system, and maintains insurance on deposit accounts with the FDIC, which is also Mechanics’ primary federal regulator.

Business

Mechanics provides personal banking, business banking, trust and estate, brokerage and wealth management services. Mechanics’ retail banking products include a wide range of personal checking, savings and loan products (including credit card, home equity, home mortgage and secured/unsecured loans), as well as online banking and a variety of wealth management services (including trust and estate, investment management and financial planning services). Mechanics’ banking products and services for businesses include business checking and savings accounts, business debit cards, online banking, cash management services, wealth management services, business credit cards, commercial real estate loans, equipment leasing and loans guaranteed by the Small Business Administration.

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Mechanics ceased originating auto loans in February 2023, but continues servicing the portfolio of new and pre-owned retail automobile sales contracts purchased from both franchised and independent automobile dealerships throughout 33 states: Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Michigan, Minnesota, Missouri, Montana, North Carolina, North Dakota, Nebraska, Nevada, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.

Mechanics’ primary sources of liquidity include deposits, loan repayments and investment securities payments, both principal and interest, borrowings, and proceeds from the sale of loans and investment securities. Borrowings may include advances from FHLB, borrowings from the Federal Reserve, federal funds purchased and borrowing from other financial institutions.

Employees

As of March 31, 2025, Mechanics employed 1,426 full-time equivalent employees. No employees of Mechanics are covered by a collective bargaining agreement.

Legal Proceedings

Mechanics is periodically party