Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 367

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 367
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90% |
| Expected return on plan assets                                                                        |     |           6.00% |     |        6.00% |     |        6.00% |     |                N/A |     |           N/A |     |           N/A |
| Year end assumptions for reconciliation of funded status                                              |     |                 |     |              |     |              |     |                    |     |               |     |               |
| Discount rate                                                                                         |     |           5.35% |     |        5.35% |     |        5.60% |     |              4.68% |     |         4.68% |     | 4.78% - 5.60% |
| Expected return on plan assets                                                                        |     |           4.20% |     |        6.00% |     |        6.00% |     |                N/A |     |           N/A |     |           N/A |

As of December 31, 2024, the estimated net loss that will be amortized from Accumulated Other Comprehensive Income or (Loss) on the Consolidated Balance Sheets into net periodic benefit cost during the next fiscal year was estimated to be $0 for the Retirement Plan and $699 thousand for the Supplemental Plans. As of December 31, 2024, there was no deferred prior service cost to be amortized into net periodic benefit cost for either the Retirement Plan or the Supplemental Plans. The Bank contributed $2.4 million, $4.8 million and $2.4 million to the Supplemental Executive Retirement Plan during the years ended December 31, 2024, 2023 and 2022, respectively, to cover the benefit payments due in those years. Currently, the Bank estimates the contribution amount for 2025 to cover expected annuity payments will be $2.0 million. Net periodic benefit cost for the years ended December 31, 2024, 2023 and 2022 was based on the Pri-2012 separate employee and retiree tables with contingent survivor adjustments for exiting survivors and white collar adjustments with projected future improvements using a modified version of scale MP-2021. Financial disclosures as of December 31, 2024, December 31, 2023 and December 31, 2022 are based on the Pri-2012 separate employee and retiree tables with contingent survivor adjustments for exiting survivors and white collar adjustments with