Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 50

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 50
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 million and $0.3 million for quarters ended March 31, 2025 and 2024, respectively.

The notional amount of open interest rate swap agreements executed with commercial banking customers and broker dealer counterparties at March 31, 2025 and December 31, 2024 were $215 million and $223 million, respectively. 

NOTE 6–MORTGAGE BANKING OPERATIONS:

LHFS consisted of the following: (in thousands)At March 31, 2025At December 31, 2024Single family$21,912 $20,312 CRE, multifamily and SBA12,822 — Total$34,734 $20,312 Loans sold consisted of the following for the periods indicated: Quarter Ended March 31,(in thousands)20252024Single family$82,397 $70,379 CRE, multifamily and SBA54,195 8,196 Total$136,592 $78,575 

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Gain on loan origination and sale activities, including the effects of derivative risk management instruments, consisted of the following:  Quarter Ended March 31,(in thousands)20252024Single family$2,283 $1,986 CRE, multifamily and SBA933 320 Total$3,216 $2,306 The Company's portfolio of loans serviced for others is primarily comprised of loans held in U.S. government and agency MBS issued by Fannie Mae, Freddie Mac and Ginnie Mae. The unpaid principal balance of loans serviced for others is as follows:(in thousands)At March 31, 2025At December 31, 2024Single family $5,141,876 $5,179,373 CRE, multifamily and SBA 1,924,895 1,918,172 Total$7,066,771 $7,097,545 The following is a summary of changes in the Company's liability for estimated single-family mortgage repurchase losses: Quarter Ended March 31,(in thousands)20252024Balance, beginning of period$1,032 $1,481 Additions, net of adjustments (1)(103)(128)Realized (losses) recoveries, net (2)70 (36)Balance, end of period$999 $1,317 (1)   Includes additions for new