Company: MCHB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001518715-25-000083
Chunk: 47

Company: Mechanics Bancorp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 47
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$— $— $325 $— The following table provides the amortized cost basis as of March 31, 2024 of MBFDs on or after January 1, 2023 through December 31, 2023 and subsequently had a payment default: Amortized Cost Basis of Modified Loans That Subsequently Defaulted Quarter Ended March 31, 2024(in thousands)Significant Payment DelayTerm ExtensionInterest Rate Reduction and Term ExtensionSignificant Payment Delay and Term ExtensionInterest Rate Reduction, Significant Payment Delay and Term ExtensionNon-owner occupied CRE$— $— $— $16,240 $— Construction/land development— — — 3,824 — Commercial business— 4,420 — — — Single family241 — — 351 — Total$241 $4,420 $— $20,415 $— 

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NOTE 4–DEPOSITS:

Deposit balances, including their weighted average rates, were as follows: At March 31, 2025At December 31, 2024(dollars in thousands)AmountWeighted Average RateAmountWeighted Average RateNoninterest-bearing demand deposits$1,276,133 — %$1,195,781 — %Interest bearing:Interest-bearing demand deposits 327,400 0.45 %323,112 0.35 %Savings 233,240 0.06 %229,659 0.06 %Money market 1,437,024 2.02 %1,396,697 1.72 %Certificates of depositBrokered deposits297,717 4.33 %751,406 4.61 %Other2,518,981 4.11 %2,516,366 4.37 %Total interest bearing deposits4,814,362 3.12 %5,217,240 3.31 %Total deposits$6,090,495 2.42 %$6,413,021 2.65 %There were $313 million and $315 million in public funds included in deposits at March 31, 2025 and December 31, 2024, respectively.Certificates of deposit outstanding mature as follows: (in thousands)March 31, 2025Within one year$2,794,410