Company: MCHB
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001518715-25-000026
Chunk: 106

Company: Mechanics Bancorp
Filing Date: 2025-03-07
Form: 10-K
Item: Item 8
Chunk 106
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2,273 2.29 %  At December 31, 2023 Within one yearAfter one yearthrough five yearsAfter five yearsthrough ten yearsAfterten yearsTotal(dollars in thousands)FairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldFairValueWeightedAverageYieldAFSMunicipal bonds$— — %$5,856 1.84 %$60,775 3.36 %$338,243 3.01 %$404,874 3.04 %Corporate debt securities4,425 3.53 %12,714 4.95 %21,408 3.89 %— — %38,547 4.21 %U.S. Treasury securities— — %20,184 1.14 %— — %— — %20,184 1.14 %Agency debentures16,977 4.93 %30,925 5.2 %7,758 2.15 %3,245 2.17 %58,905 4.51 %Total $21,402 4.64 %$69,679 3.64 %$89,941 3.40 %$341,488 3.00 %$522,510 3.21 %HTMMunicipal bonds$— — %$2,331 2.29 %$— — %$— — %$2,331 2.29 %The weighted-average yield is computed using the contractual coupon for each security weighted based on the fair value of each security. MBS and CMOs are excluded from the tables above because such securities are not due on a single maturity date. The weighted average yield of MBS and CMOs as of December 31, 2024 and 2023 was 3.01% and 3.21%, respectively.Sales of AFS investment securities were as follows:  Years Ended December 31,(in thousands)20242023Proceeds$— $4,693 Gross gains— 3 Gross losses— — 

65

The following table summarizes the carrying value of securities pledged as collateral to secure public deposits, borrowings and