Company: MCHB
Filing Date: 2025-04-15
Form Type: ARS
Source: 0001518715-25-000069
Chunk: 111

Company: Mechanics Bancorp
Filing Date: 2025-04-15
Form: ARS
Chunk 111
---
 leases — 385 Supplemental information related to leases was as follows: At December 31, (in thousands, except lease term and discount rate) 2024 2023 Operating lease right-of-use assets, included in other assets $ 25,235 $ 27,594 Operating lease liabilities, included in accounts payable and other liabilities 30,993 35,043 Finance lease right-of-use assets, included in other assets $ 48 $ 318 Finance lease liabilities, included in accounts payable and other liabilities 37 288 Weighted Average Remaining lease term in years Operating leases 4.31 4.49 Finance leases 0.58 1.58 Weighted Average Discount Rate Operating leases 1.82 % 1.88 % Finance leases 3.50 % 3.50 % Maturities of lease liabilities and obligations under leases classified as nonlease components were as follows: Lease Liabilities (in thousands) Operating Leases Finance Leases Nonlease Components Year ended December 31, 2025 $ 10,079 $ 37 $ 3,723 2026 8,721 — 3,785 2027 7,683 — 3,841 2028 2,750 — 125 2029 1,678 — — 2030 and thereafter 2,874 — — Total lease payments 33,785 37 $ 11,474 Less imputed interest 2,792 — Total $ 30,993 $ 37 89

NOTE 17–SHARE-BASED COMPENSATION PLANS: In May 2014, the shareholders approved the Company's 2014 Equity Incentive Plan (the "2014 EIP Plan") that provided for the grant of stock options, shares of restricted stock, RSUs, PSUs, stock bonus awards, stock appreciation rights, performance share awards and performance compensation awards and unrestricted stock (collectively, "Equity Incentive Awards") to the Company’s executive officers, other key employees and directors. This plan was amended in May 2017 and allowed the grant of up to 1,875,000 shares of the Company’s common stock. For 2024 and 2023, the Company recognized stock-based compensation cost of $3.3 million and $3.1 million, respectively. In March 2024, this plan expired, therefore we are no longer granting shares from this plan, or any other plan. RSUs generally vest over a three year