Company: MCHB
Filing Date: 2025-07-16
Form Type: 424B3
Source: 0001140361-25-026051
Chunk: 35

Company: Mechanics Bancorp
Filing Date: 2025-07-16
Form: 424B3
Chunk 35
---
 system, and maintains insurance on deposit accounts with the Federal Deposit Insurance Corporation (“FDIC”), which is also Mechanics’ primary federal regulator.

#### The Merger and the Merger Agreement (pages

#### 129

#### and

#### 167
#### )

The terms and conditions of the merger are contained in the merger agreement, a copy of which is attached as

#### Annex A
to this proxy statement/prospectus/consent solicitation statement and incorporated by reference herein. You are encouraged to read the entire merger agreement carefully, as it is the primary legal document that governs the merger.

#### Structure of the Merger
On the terms and subject to the conditions set forth in the merger agreement, at the effective time, HomeStreet Bank will merge with and into Mechanics, with Mechanics surviving the merger and becoming a wholly owned subsidiary of HomeStreet. In connection with the merger, HomeStreet will be renamed “Mechanics Bancorp”. After the effective time, HomeStreet will remain a publicly traded company.

#### Merger Consideration
Upon the terms and subject to the conditions set forth in the merger agreement, at the effective time of the merger, each share of Mechanics voting common stock issued and outstanding immediately prior to the effective time, subject to certain exceptions, will be converted into the right to receive 3,301.0920 shares of Class A common stock. All existing shares of HomeStreet common stock currently authorized and held by HomeStreet shareholders will be redesignated as Class A common stock at the effective time pursuant to the articles amendment. Further, upon the terms and subject to the conditions set forth in the merger agreement, at the effective time, each share of Mechanics non-voting common stock issued and outstanding immediately prior to the effective time will be converted into the right to receive 330.1092 shares of Class B common stock, which will be newly created pursuant to the articles amendment.

If, prior to the effective time, the outstanding shares of HomeStreet common stock or Mechanics common stock are changed into a different number or class of shares, including by reason of any reclassification, recapitalization, stock split or combination, exchange or readjustment of shares or similar transaction, or stock dividend with a record date before the effective time, excluding any change resulting from vesting or exercise of any Mechanics RSUs and HomeStreet Equity Awards outstanding as of the date on which the merger agreement is entered into, the exchange ratios and any other amounts payable pursuant to the merger agreement will be appropriately adjusted to provide HomeStreet and Mechanics shareholders