Company: MCHB
Filing Date: 2025-07-15
Form Type: S-4/A
Source: 0001140361-25-025920
Chunk: 220

Company: Mechanics Bancorp
Filing Date: 2025-07-15
Form: S-4/A
Chunk 220
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 HomeStreet Board, rendered an opinion, which was initially rendered verbally and subsequently confirmed in a written opinion issued by KBW on such date, to the HomeStreet board of directors to the effect that, as of such date and subject to the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW as set forth in such opinion, the consideration to be paid to holders of Mechanics common stock in the merger was fair, from a financial point of view, to HomeStreet. On March 28, 2025 the HomeStreet board approved the merger agreement. The description of the opinion set forth herein is qualified in its entirety by reference to the full text of the opinion, which is attached as Annex Eto this document and is incorporated herein by reference, and describes the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW in preparing the opinion. KBW’s opinion speaks only as of the date of the opinion. The opinion was for the information of, and was directed to, the HomeStreet board (in its capacity as such) in connection with its consideration of the financial terms of the merger. The opinion addressed only the fairness, from a financial point of view, of the consideration to be paid to holders of Mechanics common stock in the merger to HomeStreet. It did not address the underlying business decision of HomeStreet to engage in the merger or enter into the merger agreement or constitute a recommendation to the HomeStreet board in connection with the merger, and it does not constitute a recommendation to any holder of HomeStreet common stock or any shareholder of any other entity as to how to vote or act in connection with the merger or any other matter, nor does it constitute a recommendation as to whether or not any such shareholder should enter into a voting, shareholders’, affiliates’ or other agreement with respect to the merger or exercise any dissenters’ or appraisal rights that may be available to such shareholder. KBW’s opinion was reviewed and approved by KBW’s Fairness Opinion Committee in conformity with its policies and procedures established under the requirements of Rule 5150 of the Financial Industry Regulatory Authority. In connection with the opinion, KBW reviewed, analyzed and relied upon material bearing upon the financial and operating condition of HomeStreet and Mechanics and bearing upon the merger, including, among other things:

| • | certain other interim reports and other communications of HomeStreet and Mechanics to their respective shareholders; and |

| • | other financial information concerning the businesses and operations of HomeStreet and Mechanics