Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 359

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 359
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 million, respectively, of interest and dividends receivable from the Bank’s debt securities. Accrued interest receivable from securities available-for-sale totaled $13.6 million and $6.3 million at December 31, 2024 and 2023, respectively. Accrued interest receivable from securities held-to-maturity totaled $2.4 million and $2.6 million at December 31, 2024 and 2023, respectively. In accordance with accounting standards, only the realized gains and losses from securities transactions are included in the Consolidated Income Statements as Net gain/(loss) on sale of investment securities. During the first quarter 2024, the Bank executed an investment portfolio restructuring of its AFS investment securities portfolio. The Bank sold $1.8 billion of lower yielding AFS securities and realized a loss of $207.2 million. The proceeds of the sale were used to purchase $1.6 billion of higher yielding investments. No gross gains were realized on the sales. The following table summarizes available-for-sale securities with unrealized and unrecognized losses at December 31, 2024 and December 31, 2023 aggregated by major security type and length of time in a continuous unrealized and unrecognized loss position:

|                                                  |     |   December 31, 2024 |     |            |     |                   |     |            |     |            |     |            |
|:-------------------------------------------------|:----|--------------------:|:----|-----------:|:----|------------------:|:----|-----------:|:----|-----------:|:----|-----------:|
|                                                  |     | Less than 12 months |     |            |     | 12 months or more |     |            |     |      Total |     |            |
| (dollars in thousands)                           |     |          Fair Value |     | Unrealized 
     Losses |     |        Fair Value |     | Unrealized 
     Losses |     | Fair Value |     | Unrealized 
     Losses |
| Description of securities                        |     |                     |     |            |     |                   |     |            |     |            |     |            |
| Obligations of states and political subdivisions |     |             $19,273 |     |       $162 |     |           $28,394 |     |     $1,037 |     |    $47,667 |     |     $1,199 |
| Mortgage-backed securities - residential